1Life Cover is the benefit payable on death of the life assured.
2On death of the Life Assured after the expiry of Waiting Period but before the stipulated date of maturity and provided the Policy is in force, the Death Benefit amount payable as a lump sum is: For Regular premium or Limited premium payment policy, “Sum Assured on Death” which is the highest of: 10 times of annualized premium; or 105% of all the premiums paid as on the date of death; or Absolute amount assured to be paid on death. For Single premium policy, “Sum Assured on Death” which is the higher of: 125% of Single Premium or Absolute amount assured to be paid on death.
3On death of the Life Assured during the Waiting Period and provided the Policy is in force, the Death Benefit amount payable as a lump sum is: In case of Accidental Death, for regular premium or limited premium payment policy, equal to Sum Assured on Death which is the highest of 10 times the Annualized Premium, or 105% of all premiums paid as on the date of death, or Absolute amount assured to be paid on death. In case of Accidental Death, for single premium policy, equal to Sum Assured on Death which is the higher of: 125% of Single premium or Absolute amount assured to be paid on death. In case of death due to other than accident, the Death Benefit is equal to 100% of all Premiums paid excluding taxes, if any.
4The monthly premium for a health male of 30 years age who buys ICICI Pru Saral Jeevan Bima with life cover of 40L with regular premium payment for a policy term of 30 years is Rs. 896. The premium is exclusive of taxes and is for online channel.
5Statutory Taxes, if any, imposed on such insurance plans by the Government of India or any other constitutional tax Authority of India shall be as per the Tax laws and the rate of tax as applicable from time to time. The amount of applicable taxes as per the prevailing rates, shall be payable by You on premiums (for base policy and rider, if any) including extra amount if charged under the policy due to underwriting decisions, which shall be collected separately over and above in addition to the premiums payable by the policyholder. The amount of tax paid shall not be considered for the calculation of benefits payable under the plan. Tax benefits, if any, would may be as per the prevailing provisions of the tax laws in India. The Policyholder or the nominee shall be liable for compliance of applicable tax provisions.
#Absolute amount assured to be paid on death shall be an amount equal to Basic Sum Assured chosen by You at policy inception.
ICICI Pru Saral Jeevan Bima (UIN: 105N183V01)
W/II/2896/2020-21