Icici Prudential Life Insurance Co. Ltd. · NSE:ICICIPRULI
Icici Prudential Life Insurance — Investor Presentation (2013)
18 slides from Icici Prudential Life Insurance's investor presentation, 2013
Slide 1: Understanding Productivity Based Commission Structure
Understanding Productivity Based Commission Structure
Slide 2: Productivity definition
Productivity definition Productivity = Total new business WRP (including top ups) during a financial year. Business done across all products is taken into account Example : Product WFP collected Savings Suraksha 3 lakh GWP 2.5 lakh Wealth Builder II 2.5 lakh Cash advantage 1 lakh Total Productiv
Slide 3: Productivity categorisation - Traditional
Productivity categorisation - Traditional The categorisation for a partner/advisor will be based on productivity and will be subject to change based on factors like inflation. The current annual categorisation will be as follows: Category Quarter Category Annual Productivity Productivity A < Rs.
Slide 4: ULIP categorisation
ULIP categorisation The categorisation a partner/advisor will be based on productivity and will be subject to change based on factors like inflation. The current categorisation will be as follows: Category A: Less than Rs. 20,00,000 p.a. Category B: Rs. 20,00,000 p.a. to less than Rs. 5,00,00,00
Slide 5: Illustration 1
Illustration 1 Advisor X sells a ICICI Pru Cash Advantage, 10 pay policy with WRP of Rs. 1 lakh p.a. JAS quarter productivity (for all products) for X is Rs. 3 lakh, i.e. Category B Year end productivity for X is Rs. 28 lakh (Category C) Base commission: 20% X Rs. 1 lakh = Bonus commission: Bo
Slide 6: Illustration 2
Illustration 2 Advisor Z sells a ICICI Pru Cash Advantage, 10 pay policy with WRP of Rs. 1 lakh p.a. JAS quarter productivity (for all products) for Y is Rs. 5 lakh, i.e. Category C Year end productivity for Z is Rs. 25 lakh (Category C) Base commission: 20% X Rs. 1 lakh = Bonus commission: Rs
Slide 7: Illustration 3
Illustration 3 Advisor Y sells a ICICI Pru Cash Advantage, 10 pay policy with WRP of Rs. 1 lakh p.a. JAS quarter productivity (for all products) for Y is Rs. 3 lakh, i.e. Category B Year end productivity for Y is Rs. 8 lakh (Category A) Base commission: 20% X Rs. 1 lakh = Bonus commission: Bon
Slide 8: Illustration 4
Illustration 4 Advisor P’s JAS quarter productivity (for all products) is Rs. 3 lakh, i.e. Category B P sells ICICI Pru Cash Advantage with WRP of Rs. 1 lakh p.a. on 1st Oct 2013 Bonus commissions for policies sourced in OND will be based on productivity of OND i.e. Category C Base commission:
Slide 9: Cash Advantage
Cash Advantage 1st yr Commission rates for Cash Advantage Premium B A C Payment Term 9 lakh - < 9lakh* >20 lakh / Category 20lakh 5 10% 12% 15% 7 14% 17% 21% 10 20% 25% 30% 2nd year onwards : 5% * Productivity = Total new business WRP (including top ups) during the financial year. Business done ac
Slide 10: Saving Suraksha
Saving Suraksha Premium Payment Category Category Category Term A B C 5 10% 12% 15% 7 14% 17% 21% 10 20% 25% 30% 11 22% 27% 33% # 12 to 30 23% 28% 35% # # Commission in year 1 for brokers will be capped at the regulatory limit, which is currently 30%. 2nd year onwards : 5% * Productivity = Total new
Slide 11: Easy Retirement
Easy Retirement Commissions for base premiums: Premium payment First year Renewal Annual Premium mode commission commission < Rs. 5 lakh 5% 2% Yearly Rs. 5 – 9.99 lakh 2% 2% >= Rs. 10 lakh 0.5% 0.5% < Rs. 5 lakh 3% 2% Half-yearly and Rs. 5 – 9.99 lakh 2% 2% Monthly >= Rs. 10 lakh 0.5% 0.5% Top u
Slide 12: Wealth Builder II
Wealth Builder II Premium Payment Option Category A Category B Category C Limited Pay and Regular Pay 6% 8% 9% Limited Pay and Regular Pay policies commission from year two onwards till the end of the Premium Payment Term is 2% Productivity Category: Category A: Less than Rs. 20,00,000 p.a. Category
Slide 13: Elite Life II
Elite Life II Premium Payment Option Category A Category B Category C Year 1: Five Pay and Regular Pay 4% 4% 6% Year 2: Five Pay and Regular Pay 3% 3% 2% Year 3: Five Pay and Regular Pay 3% 3% 2% Year 4: Five Pay and Regular Pay 2% 2% 2% Year 5 and thereafter: Five Pay and 2% 2% 2% Regular Pay Categ
Slide 14: Elite Wealth II
Elite Wealth II Premium Payment Option Category A Category B Category C Year 1:Five Pay and Regular Pay 2% 2% 4% Year 2: Five Pay and Regular Pay 2% 2% 1% Year 3: Five Pay and Regular Pay 2% 2% 1% Year 4: Five Pay and Regular Pay 2% 2% 1% Year 5 and thereafter: Five Pay 2% 2% 1% and Regular Pay Cate
Slide 15: GWP
GWP Premium Payment Option Category A Category B Category C Limited Pay and Regular Pay 6% 8% 9% Limited Pay and Regular Pay policies commission from year two onwards till the end of the Premium Payment Term is 2% Productivity Category: Category A: Less than Rs. 20,00,000 p.a. Category B: Rs. 20,00,
Slide 16: iCare II
iCare II Policy Term Year 1 Years 2 & 3 Thereafter 5 15% 7.5%* 5% 10 30% 7.5%* 5% 15/20/25/ 30 35%* 7.5%* 5% * Commission for Brokers will be capped at the regulatory limit which is currently: o 30% in year 1 o 5% in year 2 till the end of the premium payment term 16
Slide 17: Cash Rich Retirement Solution
Cash Rich Retirement Solution Productivity category A B C First year commission 11% 13% 15% Renewal commission 3.2% * Premiums are split in a 60:40 ratio between Easy Retirement and Cash Advantage This material is strictly meant for circulation within the organization/ solely for training and/or edu
Slide 18: Thank you
18 Thank you @ICICI PRUDENTIAL? pLirFe «NS UR AN CR
ICICI Prudential Life Insurance — Investor Presentation (2013) on 6ix