It is the largest life insurance company in the nation Icici life insurance has been in business for more than 100 year and is a fully owned subsidiary of Amerprise financial, Inc .Ameriprise financial was found in1894 life insurance and annunity company and ids life insurance company Avariable universal life insurance policy provides you with the benefirs of permanent life insurance while also providing you an opportunity to invesest in the market .The policy offers an income taxfree death benefit flexible death bendfit and premium tax deferred growth and in certain cases income tax free accesss to the policy cash value