ICICI Pru iCare II term insurance plan

"A term insurance plan made for high-risk lives that are prone to accidents"

Are you having a high-risk occupation such as a fire-fighter, coal miner, construction worker, and so on, in which the chances of an accident are much higher compared to any other? If yes, then you might not know that some term plans have an inbuilt accidental death benefit to enhance the coverage amount.

So, today, we are talking about a plan named ICICI Prudential iCare - II, which offers an additional death benefit equal to the sum assured chosen by you or 2 Crore, whichever is lower, payable only in case of death due to an accident.

ICICI Prudential iCare - II is a pure, non-linked term insurance plan that covers you for up to 85 years of age, with a minimum age of entry of just 18 years. With a minimum sum assured of just Rs.86,548 under plan option 1, you can get this plan only for 2444/- annually.

Let us understand the plan in detail.

ICICI Pru iCare II insurance plan: Plan options and their Offered Benefits

Eligibility criteria of ICICI Pru iCare II insurance plan

ICICI Pru iCare II Insurance Plan: Benefits

Below are the benefits associated with the ICICI Pru iCare II insurance plan:

1. Death benefit

   Under ICICI Prudential iCare II Plan, upon the unfortunate demise of the life insured, a death benefit among the highest will be payable to the nominee:

   iCare II Option 1	iCare II Option 2
   Chosen Sum assured at plan inception.	Chosen Sum assured at plan inception + Accidental Death Benefit

   The sum assured will be highest among the following

   For One Pay

   • The sum assured will be equal to 125% of a single premium.

   For Regular Pay

   • 7 times the annual premium
   • 105% of premiums paid.

2. Tax benefit

   ICICI Prudential iCare II Plan offers a tax benefit of up to 1.5 lacs under section 80C of the Income Tax Act 1961 for the same financial year.

ICICI Pru iCare II insurance plan Premium illustration

Given below are premium illustrations of the ICICI Pru iCare II insurance plan for a 30-year-old male who chose a policy term of 50 years with a minimum sum assured of 1 crore.

ICICI Pru iCare II insurance plan: Other Provisions

Exclusions

• Suicide within (12 months of policy inception).
• Death due to an adventurous activity.
• Death due to consumption of any intoxicants.
• Death due to an aviation accident.