ICICI Term Insurance
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ICICI Term Insurance

ICICI Prudential Life Insurance Company Limited (ICICI Prudential Life) is promoted by ICICI Bank Limited and Prudential Corporation Holdings Limited.

ICICI Prudential Life began its operations in the fiscal year 2001. It has consistently been amongst the top companies in the Indian life Insurance sector. ICICI Assets Under Management (AUM) on 31st March 2022 were INR 2,404.92 billion. Throughout the years, ICICI has developed and implemented various initiatives to provide cost-effective products.

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.

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ICICI Term Insurance

ICICI Prudential Life Insurance Term Plans at a glance

To look after your family's needs in your absence, ICICI Prudential Term Plans are designed in a way that secures your family's financial future. ICICI Prudential offers term insurance plans to secure the future of its customers and their families. Let's explore ICICI term insurance plans in detail.

S.NoICICI Term PlansWho Should Buy?
1.ICICI Pru iProtect SmartThis ICICI Term plan is suitable for people who want to provide financial protection to their families with comprehensive coverage at an affordable cost.
2.ICICI Pru iProtect Return of PremiumThe ICICI Pru iProtect Return of Premium plan is suitable for people who want to avail a life cover that gives them a premium at maturity.

**Last Updated on April, 2022

Given below is a brief introduction of all ICICI Term plans that are mentioned above. Take a look.

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  1. ICICI Pru iProtect Smart

    ICICI Pru iProtect Smart Plan offers comprehensive protection and critical illness cover (optional) to your family. This ICICI term life insurance plan also comes out with an option to provide accidental death cover up to 2 crores.

    Key features:

    • Affordable Plan: It is a pocket-friendly term insurance plan. For instance, a person of 30 years will pay Rs. 9,840 per annum (policy term- 45 years) as a premium for a cover of Rs. 50 Lakh.
    • Longer Cover: The plan allows you to get covered till the age of 85 years and you also have the option to get whole life cover till the age of 99 years. Depending upon your age and insurance requirements, you can select the maximum term period for this policy.
    • Cover 34 Critical Illnesses (optional): provides claim payout on the first diagnosis of any of the listed 34 Critical Illnesses.
    • Four Pay-out Options: The plan provides four payout options such as lump sum, monthly income, increasing income, and lump sum plus income. The plan allows you to choose the desired option as per your needs.
    • This plan has added key benefits for women such as special premium rates for life cover as well as covers for cancers such as breast cancer and cervical cancer under Accelerated Critical Illness Benefit.

    How does this plan protect you?

    You can choose your level of protection by selecting one of the below benefit options:

    Benefit OptionBenefits
    LifeDeath Benefit + Terminal Illness + Waiver of Premium on permanent disability
    Life PlusDeath Benefit + Terminal Illness + Waiver of Premium on permanent disability + Accidental Death Benefit
    Life & HealthDeath Benefit + Terminal Illness + Waiver of Premium on permanent disability + Accelerated Critical Illness Benefit
    All in OneDeath Benefit + Terminal Illness + Waiver of Premium on permanent disability + Accidental Death Benefit + Accelerated Critical Illness Benefit

    Eligibility Criteria:

    Eligibility conditionMinimumMaximum
    Entry Age18 years55 years
    65 years (Limited Pay)
    Sum InsuredSubject to the minimum premiumUnlimited
    Premium payment modeSingle Pay, Regular Pay, Limited Pay

    **Last Updated on April, 2022

  2. ICICI Pru iProtect Return Of Premium

    ICICI Pru iProtect Return of Premium plan offers 360-degree protection safeguarding you from 64 critical illnesses (Optional) and twice the cover against accidental death. This plan is designed in a way where you can avail survival benefits in the form of regular income, return of premiums, or easy return of premiums.

    Key Features:

    • Covers 64 Critical Illnesses (optional): provides claim payout on the first diagnosis of any of the listed 34 Critical Illnesses.
    • Choose from 4 different plan options mentioned below:
    • Return of premium where you get life coverage throughout the policy term. Also, get your premiums back on maturity
    • Income Benefit: Get life coverage throughout the policy term and start getting monthly income from the policy anniversary after the Life Assured turns 60 years of age.
    • Return of Premium with Life-stage cover: In this plan option you get life coverage, which changes as per your life stage throughout the policy term, and also get your premiums back on maturity.
    • Early return of premium with Life-stage cover: Get your premiums back on the policy anniversary after the Life Assured turns 60 years of age or 70 years of age.
    • Get up to twice the life cover in case of death due to an accident

    Eligibility Criteria:

    Eligibility conditionMinimumMaximum
    Entry Age18 years55 years
    65 years (Limited Pay)
    Sum InsuredSubject to the minimum premiumUnlimited
    Premium payment modeSingle Pay, Regular Pay, Limited Pay

    **Last Updated on April, 2022

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How to Buy ICICI Prudential Term Insurance Plans?

There are two ways to invest in the ICICI Pru Term insurance plan - through the official website of the company or PolicyX.com. Let's discuss the process in detail.

Buying through ICICI Prudential Life Insurance Company

  • Visit the website of ICICI Prudential Life Insurance Company.
  • Click on the Plans tab and select Term Insurance.
  • Select the desired plan and click on Check Premium.
  • Fill in the required details under 'Term Insurance Calculator'.
  • Opt for riders if you want to add any of them.
  • Analyze the premium and click on the tab 'Proceed'.
  • Make the payment using available payment modes.

The company will share the policy documents on your registered mail ID. It will also send a hard copy to your address.

The rest 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.

Buy through PolicyX.com

  • Scroll up to the 'Get ICICI Term Insurance Quotes Online' section present at the top-right corner of this page.
  • Fill in the required details like phone number, name, and D.O.B. Click on the tab on 'Continue'.
  • Enter your Income, City, and then click on 'Proceed'.
  • Submit your education details and occupation type.
  • Analyze quotes and choose the ICICI term insurance plan.
  • Click on 'Buy this plan' under the chosen term insurance plan.
  • Check the details. Add relevant riders if needed.
  • Click on the tab 'Save & Continue'.
  • Your proposal is ready now. Click on the tab 'Pay Now'. You will land at the chosen ICICI's Prudential website.
  • Fill in the details and make the payment using available payment options.

The company will share the policy documents to the registered email ID.

Claim Settlement of ICICI Prudential Term Insurance

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:

Online Proces:

  • Report your ICICI Prudential Term Insurance claim by visiting the claim section of the ICICI Term Life Insurance website.
  • ICICI Term Insurance's customer support staff will review your claim form and will assist you at every step. Their staff will next evaluate your claim and notify you if any papers are still pending.
  • Your claim will be resolved once you have informed the insurance of your claim and the insurer has received all of the necessary documents

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.

Contact Details of ICICI Prudential

Registered office address:ICICI PruLife Towers, 1089 Appasaheb Marathe Marg, Prabhadevi, Mumbai 400025

Customer helpline number:1860 266 7766

ICICI Pru Term Plans


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ICICI Prudential Term Insurance: FAQs

1. What is the ideal term for the ICICI Term policy?

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.

2. What process is followed to file a claim?

  • Fill the claim intimation form.
  • Send your duly completed form and documents to the branch.
  • The team of ClaimCare will examine your documents and other information provided to process the claim.
  • If the claim is authorized, then the company will take 12 days to settle the claim. The amount of the claim will be transacted to the policyholder's account through cheque or ECS.

3. How can I intimate the company about my claim?

Customers can report the company about their claim in the following ways-

  • Filling online claim intimation form available at the company website
  • Sending an SMS ICLAIMPolicy number to 56767
  • Writing an email at lifeline@iciciprulife.com
  • Calling at the company's helpline number- 18602667766.

4. What are the important documents for claim intimation?

Given here is a list of mandatory documents that must be submitted to the company at the time of initiating the claim-

  • Claim intimation form duly filled and attested
  • Death certificate with photocopies issued by Local Municipal Corporation.
  • Identity proof and address proof of the nominee who is claiming.
  • Canceled cheque or the photocopy of passbook (of the nominee)

5. What list of documents for non-accidental death?

Photocopy as well as original proofs of:

  • Medical records like diagnosis results, admission reports, death summary, etc.
  • Medico-legal cause of Death Certificate
  • Medical attendant/ hospital certificate filled by the doctor.
  • Certificate from employer (if salaried)

6. What list of documents for accidental death?

Photocopy as well as original proofs of:

  • FIR/Punchnama/ Post Mortem report/ Inquest reports
  • Driving license of the life insured ( if he/she is riding the vehicle when the accident took place). This requirement is valid if you have selected ‘Accident and Disability Benefit Rider'.

7. What list of documents for disability/ critical illness claim/incurable illness?

  • Original policy certificates
  • Claim intimation form present on the company website
  • Attending Doctor's certificate
  • Medical records (original as well as photocopies)

8. Does the ICICI Term plan provide maturity benefits?

No. There is no maturity, paid-up value, or survival benefits offered under the ICICI Term plan.

9. Does the ICICI Term Insurance plan provide cover in case of death due to suicide?

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.

10. How many critical Illnesses are covered under ICICI Term Plan?

The plan covers 34 critical illnesses, namely

  • Cancer of specified severity
  • Angioplasty*
  • First Heart Attack - of Specified Severity
  • Open Heart Replacement or Repair of Heart Valves
  • Surgery to aorta Heart and Artery Benefit
  • Cardiomyopathy
  • Primary Pulmonary hypertension
  • Open Chest CABG
  • Blindness
  • Chronic Lung Disease
  • Chronic liver disease Major Organ Benefit
  • Kidney Failure Requiring Regular Dialysis
  • Major Organ/ Bone Marrow Transplant
  • Apallic Syndrome
  • Benign Brain Tumour
  • Brain Surgery
  • Coma of specified Severity
  • Major Head Trauma
  • Permanent Paralysis of Limbs
  • Stroke resulting in permanent symptoms Brain and Nervous System Benefit
  • Alzheimer's disease
  • Motor Neurone Disease with Permanent Symptoms
  • Multiple Sclerosis with Persisting Symptoms
  • Muscular Dystrophy
  • Parkinson's disease
  • Poliomyelitis
  • Loss of Independent Existence
  • Loss of Limbs
  • Deafness
  • Loss of Speech Others
  • Medullary Cystic Disease
  • Systematic lupus Eryth with Renal Involvement
  • Major Burns
  • Aplastic Anaemia

11. Am I allowed to make changes in my ICIC Pru term insurance policies at any time throughout the policy's term?

Yes, at any moment throughout the policy's lifetime, the policyholder can make changes in their ICICI Pru Term Incurance.

12. Is there any way wherein I can calculate my ICICI Term Insurance Premium?

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

Find Out What Customers Are Saying

(Showing latest 5 reviews only)

- 4.3/5 (34 Total Rating)

February 10, 2022

Kalpana Gupta

Hyderabad

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.

November 22, 2021

Dinesh Chopra

Delhi

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.

October 5, 2021

Shreya Sharma

Delhi

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 ICICI for supporting me

September 13, 2021

Anshuman Dami

Bhopal

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

September 13, 2021

Vasundhara

Chandigarh

will be foreever grateful to policyx for helping me settle the claim...really needed all the support in this time

Last updated on April, 2022

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