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Partners with ICICI Prudential Life Insurance and HDFC Life to Offer Holistic Financial Solutions
Bengaluru, February 19, 2025 – Mirae Asset Sharekhan, one of India’s leading full-service financial platforms, has announced its strategic entry into life insurance distribution through partnerships with ICICI Prudential Life Insurance and HDFC Life. This initiative represents a significant step in Mirae Asset Sharekhan’s commitment to integrating wealth creation with long-term financial security, ensuring that customers can navigate their investment journeys with confidence.
With an increasing number of retail investors directly participating in stock markets, Mirae Asset Sharekhan recognizes the need to help customers with solutions under one umbrella. While stock market investments offer the potential for high returns, they also come with inherent risks. By integrating life insurance solutions from two of India’s trusted insurers, Mirae Asset Sharekhan aims to ensure that it becomes a one-stop solution provider for its customers’ financial needs.
Mirae Asset Sharekhan’s foray into life insurance distribution is rooted in its mission to empower investors with financial knowledge and risk management tools. The partnerships with ICICI Prudential Life Insurance and HDFC Life will enable customers to access a curated range of life insurance products, including:
Term life & health plans for income protection and financial security for dependents
Unit Linked Insurance Plans (ULIPs) that combines market-linked returns with life cover
Endowment plans that allow customers to build risk-free savings along with life cover, while ensuring financial protection for their families
Annuity and retirement solutions to ensure financial stability post-retirement
The life insurance distribution partnerships with ICICI Prudential Life Insurance and HDFC Life will provide Mirae Asset Sharekhan’s customers with comprehensive wealth-building and protection solutions. More details available on https://www.sharekhan.com/life-insurance
ICICI Prudential Life’s Guaranteed Pension Plan Flexi helps build retirement savings with a guaranteed lifelong income, offering an increasing annuity option that grows by five percent annually and liquidity through a special withdrawal feature. ICICI Prudential Life’s GIFT Select plan combines financial protection with a guaranteed income stream, ensuring stability for major life events along with a life cover.
HDFC Life’s Click 2 Protect Elite, provides a financial safety net to customers and their loved ones against life’s uncertainties while also securing their lifestyle, along with the option of returning all premiums paid in case the customer opts for the Smart Exit Benefit*. HDFC Life Click 2 Achieve, offering Guaranteed Immediate Income enables one to build a life insurance product using customizable options for premium payment term, policy term and benefits (lumpsum/ regular payouts) along with riders.
*Can be exercised in any policy year greater than 30 but not during last 5 policy years.
Parminder Varma, Chief Business Officer at Mirae Asset Sharekhan, said, “At Mirae Asset Sharekhan, our vision is simple yet impactful – Making life insurance more accessible to India, aligning seamlessly with part of the Government of India and IRDAI’s broader goal of achieving “Insurance for All” by 2047, ensuring that every citizen has appropriate life, health and property insurance coverage. True wealth creation is not just about making smart investment choices but also about securing financial stability at every stage of life. Through our partnerships with ICICI Prudential Life Insurance and HDFC Life, we are committed to bridging the gap between wealth growth and financial security, empowering customers to build a more resilient financial future.”
Mirae Asset Sharekhan will leverage its extensive distribution network, comprising 129 branches and 550+ relationship managers across India, to offer these life insurance solutions. Customers will benefit from:
Branch & Relationship Manager support to determine the best insurance solutions based on their investment goals and risk profile.
An education-driven approach, helping customers understand the importance of insurance in wealth preservation.
Mr. Amit Palta, Chief Product and Distribution Officer at ICICI Prudential Life Insurance Company Limited welcomed the collaboration, stating “We are delighted to partner with Mirae Asset Sharekhan, whose expertise in financial services and distribution prowess will drive our shared vision of providing customers with financial security and peace of mind. Both partner organisations have been built on the ethos of ‘Customer First’ and delivering exceptional value and experience to customers. Technology solutions implemented have enabled us to remain at the forefront of innovation and aligns with our strategic goal of becoming the customer and distributor-friendly life insurer in India. Our innovative suite of products will enable Mirae Asset Sharekhan to provide well-rounded financial solutions to customers to address their protection, long-term savings and guaranteed retirement income needs. We believe distribution is key in making life insurance more accessible across the country and achieving the ‘Insurance for All’ goal.”
Vineet Arora, Chief Business Officer, Distribution, Data & Technology, HDFC Life commented, “We are happy to partner with Mirae Asset Sharekhan. As a country, India is largely underinsured. According to a Swiss Re report, India has a protection gap of 91%. Every individual, with responsibilities, endeavouring to fulfil their long-term goals, needs financial security. At HDFC Life, we are constantly innovating to design and offer life insurance solutions that are customer-centric and address various life stage needs. We have digital platforms that provide a superior end-to-end experience to customers – right from need analysis to claim settlement. We believe this partnership would enable Mirae Asset Sharekhan to take the unique proposition of life insurance – the dual benefits of protection and long-term savings – to customers, enabling achievement of long-term financial goals while ensuring financial security for their loved ones. Further, the strength of both partners would contribute towards achieving the collective goal of ‘Insurance for All by 2047’.”
Mirae Asset Sharekhan’s expansion into life insurance distribution reinforces its vision of being a financial solutions provider catering to varying needs in India’s financial services landscape. With a strong customer base of 31 lakh+ investors, the Company is uniquely positioned to offer integrated financial solutions that cater to a wide spectrum of wealth-building and protection needs. By combining investment expertise with risk-mitigation strategies, Mirae Asset Sharekhan is setting a new benchmark for how retail investors approach financial planning in India. This initiative is part of a broader strategy to expand financial literacy, enhance investor confidence, and ensure long-term financial well-being for its customers.
As Mirae Asset Sharekhan continues to evolve, the Company remains committed to innovation and customer-centric financial solutions. The partnerships with ICICI Prudential Life Insurance and HDFC Life mark just the beginning of a broader strategy to provide investors with access to one of the best-in-class financial products, ensuring that they can navigate their financial journeys with both confidence and security.
