*The Critical Illness benefit is an accelerated benefit and the death benefit will be reduced by the Critical Illness cover paid to the policyholder. To know more about the illnesses covered, please refer the sales brochure. The maximum accident cover available is 2 crore.
^ICICI Pru Smart health Cover is a term insurance variant designed for the Life & Health option of our term insurance plan ICICI Pru iProtect Smart. Maximum Critical Illness cover offered under this variant is 25 lakhs.
SIP is a financial planning tool available for policy holder’s to create wealth and achieve their long term financial goals by contributing a fixed amount in a selected fund(s) at regular intervals, which could be either monthly, quarterly or yearly. The key benefits of SIP to policy holders are rupee cost averaging and also it inculcates disciplined approach towards financial savings rather than ad hoc investment decisions.
When you appoint a person as your nominee, the nomination enables your nominee to receive the policy proceeds in the event of your untimely death without necessity of producing any legal evidence of title to your estate. You may nominate any person as your nominee.
A collector nominee is a person who act as a receiver of the insurance proceeds on behalf of your legal heirs. If you nominate a person apart from your parent, spouse and children, such nominee can only collect the payout from the insurer and will be accountable to your legal heirs for that amount.
Even if the proposal has already been submitted without nominee details, you can write a letter to the insurer stating that you desire to appoint a nominee and provide nominee details. Once a policy has been issued, you can add a nominee by an endorsement on the policy and notifying the insurer about the endorsement.
If the nominee dies before the policyholder, the proceeds are payable to policyholder or his heirs or legal representatives or in case of multiple successors, NoC required from all successors other than the claimant.
If a beneficiary nominee or one of your beneficiary nominees, die after your demise but before his share of the amount under the policy is paid, the share of such nominee(s) shall be payable to the heirs or legal representative of such nominee or holder of succession certificate of such nominee(s).
You should send a notice in writing of any change or cancellation of nomination to the insurer. Otherwise, the insurer will not be liable if it makes a payment to the person registered as a nominee as per its records.
When you conditionally assign your policy, it shall cancel the nomination till the time the assignment is in force. When you absolutely assign your policy, it shall automatically cancel the nomination.
Reg. Off.: ICICI PruLife Towers, 1089 Appasaheb Marathe Marg, Prabhadevi, Mumbai 400025. Tel.: 40391600. Member of the Life Insurance Council. For more details on the risk factors, term and conditions please read the product brochure carefully before concluding the sale.
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