ICICI Prudential Life to launch LifeStage RP

Company Brief

Mumbai, August 20, 2007

ICICI Prudential Life Insurance, India's No. 1 private life insurer with assets held to the tune of Rs. 19, 950 crore, will be launching LifeStage RP, soon. This unique and powerful wealth creation insurance solution combines the benefits of automatic asset allocation and quarterly rebalancing along with increased protection. The new fund offer for LifeStage RP starts from August 25, 2007 at unit price of Rs. 10.

Risk appetite of individuals’ changes with age and responsibility and so should the asset allocation in asset classes such as equity and debt, in order to maximise the benefits and reduce the risks. LifeStage RP enables policyholders to do this, by providing them a unique option of lifecycle based portfolio strategy. Here, ICICI Prudential continuously re-distributes the policyholders’ investments across various asset classes at different age-bands and also offers the option of quarterly rebalancing, to enable them capitalize on the market developments.

Three key benefits of LifeStage RP are:

• Age based portfolio management: Risk appetite of individuals’ changes with age and keeping this in mind, as the policyholder moves from one age band to another, ICICI Prudential Life will re-distribute their funds, accordingly.

• Quarterly rebalancing: Policyholders fund allocations may change because of the market movements. ICICI Prudential will visit their allocations every quarter and reset it to prescribed limits to ensure that policyholders can take advantage of the market movements and maximise wealth creation.

• Capital preservation at maturity: When the policy nears maturity, policyholders must be assured of capital preservation so that short-term market volatility at the time of maturity does not impact their investments. In order to achieve this, policyholders’ investments in Flexi Growth IV will be systematically transferred to Protector IV in 10 installments in the last 10 quarters of their policy.

Explaining the philosophy behind the launch of LifeStage RP, Mr. Bhargav Dasgupta, Executive Director, ICICI Prudential Life Insurance, said, “LifeStage RP is based on two key customer insights. The first being that risk appetite of individuals depends on their life stage, which is reflected in their asset allocation among various asset classes. The other insight that we worked on is very few customers follow a disciplined investment strategy and make alterations in their asset allocation as they grow older and manage more responsibilities. With the launch of LifeStage RP policyholders can now invest with us and let us manage their asset allocation as per their life stage.”

LifeStage RP offers investors two unique portfolio strategies to choose from. With life cycle based portfolio strategy, ICICI Prudential will mange policyholders’ assets as per their life stage and changing priorities. With fixed portfolio strategy policyholders can decide and allocate their premium spend in varied asset classes based on their own expertise and judgment.

The option to withdraw money systematically over a period of 5 years on the maturity of the policy is an option offered by LifeStage RP. In the unfortunate event of death, the nominee will receive Sum Assured and Fund Value and policyholders who invest in the new funds through LifeStage RP will enjoy the added benefits of life cover and tax benefits u/s 80C.

LifeStage RP has a minimum term of 10 years, which can be extended up to 75 years, with minimum premium at Rs. 15,000 per annum, giving the policyholder the opportunity to adopt a long-term benefit and earn maximum returns.

For further information, please contact:

Anuja Sharma

Senior Manager, Corporate Communications

ICICI Prudential Life Insurance Company, Mumbai

Tel: (022) 40398387

Email: sharma.anuja@iciciprulife.com