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ICICI Prudential offers effective term plans that provide financial support to the family members of the insured in case of his/her untimely death. When compared to other types of life insurance, ICICI term insurance plans offer wider coverage at lower premiums.
ICICI Prudential term plans give financial protection to the beneficiary in the event of death, disability, and disease. It provides coverage for a certain period, and if the policyholder dies during a policy tenure the nominee will get the death benefit.
A comprehensive coverage plan for you and your family including death, terminal illness and disability.
Unique Features
ICICI Pru iProtect Return of Premium helps you to secure your family as well as guarantee a survival/maturity benefit. Additionally, the plan safeguards against 64 critical illnesses.
Unique Features
ICICI Pru iCare II is a term plan that lets you secure your family’s future, and allows you to choose the number of years for which you wish to pay the premiums.
Unique Features
ICICI Pru Saral Jeevan Bima is a standard term plan that comes with simple features and is ideal for people who are looking for a term insurance plan with pocket-friendly premiums.
Unique Features
A life cover for people with existing health problems or have undergone critical surgeries.
Unique Features
ICICI Pru Life Raksha is a pure-term insurance plan specially designed for those who are looking for an affordable and lower coverage. The plan comes with a sum assured of Rs. 5 Lakhs only.
Unique Features
ICICI Pru Loan Protect protects your family from the outstanding home and car loans in your absence.
Unique Features
ICICI Pru Term Insurance has been a major player in the insurance industry impacting millions of lives with their services and insurance products. Let's take a look at its key features:
Here are some points on who should buy a term insurance policy:
In addition to the basic plan benefits, ICICI Insurance company also offers a variety of add-on benefits that allow customers to increase the coverage of their plan. Given below is a list of these riders. Let's take a look at them.
This rider makes sure that your term insurance plan stays active even if you are unable to pay premiums. It will waive off all future premiums and the benefits of the policy will remain the same.
In case you are being diagnosed with any of the critical ailments mentioned in the policy document, this rider will provide the needful financial cover to deal with the cost of treatment.
ICICI Pru term insurance plans come out with another rider called accidental death rider. Under this rider, the beneficiary of the insured person gets an additional payout in case the insured dies due to an accident. The maximum cover provided is up to Rs. 2 crores.
This rider is helpful in case you become temporarily or permanently disabled due to an accident. Under the same, the insurance company pays a certain sum assured for the next five or ten years. Also, all future premiums on the main insurance policy are waived off by the insurance company.
It offers a regular source of income to the family in case of the demise or disability of the policyholder.
To calculate ICICI Prudential Term Insurance Premiums, policyholders can turn to ICICI Prudential Term Insurance Premium Calculator. It is an online tool that allows the policyholder to calculate their term plan premiums in advance.
Take a look below at some of the sample premiums of ICICI Term plans:
Premium Sample Illustration for a Sum Assured 50 Lakhs, with a Policy Term: 30 years; Premium payament: Monthly payment
Age | 30 Years | 40 Years | 50 Years |
Premium (in Rs.) | 685 | 1,378 | 3,030 |
Premium Sample Illustration for a Sum Assured 25 Lakhs, with a Policy Term of 20 years.
Age | 30 Years | 40 Years | 50 Years |
Premium (in Rs.) | 589 | 1,293 | 3,056 |
There are two ways to invest in the ICICI Pru Term plan - through the official website of the company or PolicyX.com. Let's discuss the process in detail.
The company will share the policy documents on your registered mail ID. It will also send a hard copy to your address.
Some of the ICICI term insurance plans are not available online. You have to visit the nearest ICICI prudential life insurance branch to invest in the same.
The claim settlement process for ICICI Prudential Term Plans is simple and hassle-free. The insurance provider gives you the option of settling a claim both online and offline. Below we have explained both the process by which you can easily submit & settle your claim:
1. Online Process
2. Offline Process
The ICICI Prudential Term plan claim settlement procedure can be reported by visiting the local ICICI Term Insurance Branch Office, sending an email to claimsupport@iciciprulife.com, or sending an SMS to 56767 with ICLAIMSpace> Policy Number.
ICICI PruLife Towers, 1089 Appasaheb Marathe Marg, Prabhadevi, Mumbai 400025
lifeline@iciciprulife.com
1860 266 7766
The term of the policy should depend upon the retirement age. In India, the maximum number of individuals get retired at the age of 60 years. You should invest in a term plan to retirement age as you have no dependents and salary to submit premiums after retirement. For instance- If you purchase a policy at 35 years where you anticipate the retirement age to be 60 years. The policy term should be for 25 years.
Customers can report the company about their claim in the following ways-
Given here is a list of mandatory documents that must be submitted to the company at the time of initiating the claim-
Photocopy as well as original proofs of:
Photocopy as well as original proofs of:
No. There is no maturity, paid-up value, or survival benefits offered under the ICICI Term plan.
Yes, death due to suicide is covered in this plan. If the death of the policyholder happens due to suicide within a year, the nominee or beneficiary of the policyholder shall be entitled to 80% of the premiums paid till the death, provided the policy is in force.
The plan covers 34 critical illnesses, namely
Yes, at any moment throughout the policy's lifetime, the policyholder can make changes in their ICICI Pru Term Incurance.
Yes, you can. By using ICICI Term Insurance Premium Calculator, you can calculate how much you need to pay for your ICICI Term Policy. ICICI Term Insurance Calculator
Minimum 18 years & maximum 65 years is the age limit to buy ICICI Term Insurance.
There are four flexible payout options for ICICI Term Plan:
ICICI Term Plan offers tax benefits under section 80C, 80D and 10(10D) on premium paid.
Buying ICICI Lombard Term Plan has certain benefits:
Yes, you can buy more than one ICICI Term Insurance Plan .
Minimum: Rs.25,00,000 Maximum: Rs.1,00,00,000.
Sum Assured cannot be changed in ICICI Term Insurance Plan.
Payout options of the premium of ICICI Term Insurance policy are; yearly, half-yearly, quarterly and monthly.
If the policyholder wants to discontinue the policy, he or she can cancel the policy within 15 days from the receipt of the policy document.
Policies with regular premium payment option cannot be surrendered. However, single premium policies can be surrendered after a year.
The surrender value=70% x single premium x (policy years outstanding/ policy term). Minimum Sum Assured: Rs. 50,000; Maximum Sum Assured: Equal to Sum assured up to Rs. 50 lakh.
See More Term Insurance Articles
See More Term Insurance Articles
Read what our customers have to say about ICICI term insurance company
Kalpana Gupta
Hyderabad
February 10, 2022
It is one of the best companies as they explained the benefits of the term insurance then suggested me the best suitable plan as per my needs. I am happy to be associated with this company.
Dinesh Chopra
Delhi
November 22, 2021
Amazing life insurance plans at very cheap prices. sales team is also very good. they explained the plan to me very well. I am very impressed.
Shreya Sharma
Delhi
October 5, 2021
Just got my claims settled. Thank god my husban chose ICICI term plan who understand how important the hassle-free claim is a blessing at this point when you have lost your everything. Thankyou...
Anshuman Dami
Bhopal
September 13, 2021
bought a term plan from icici pru after carefully considereing that covid like situation is imminent. my fam needed protection financially and now they have it
Vasundhara
Chandigarh
September 13, 2021
will be foreever grateful to policyx for helping me settle the claim...really needed all the support in this time
Ishan Khatri
Madurai
September 9, 2021
went to get the death benefits after my husband s recent death...support staff was very nice and helped fasten the process
Rohan Kumar
Bengaluru
June 18, 2021
Thanks to policyx. I called them to compare plans and I get a good guidance about ICICI Pru. This plan helped me a lot in my crisis
Umang Singh
Kolkata
May 24, 2021
I purcharsed iProtect Smart policy from ICICI a year ago and am really satistfied with this one. Policy provides gives many benefits and i have also suggested this policy to my other family me...
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