A term plan that covers you even with existing health conditions

When it comes to our family, we always want to give them the best that life has to offer. But people with diagnosed conditions and other health problems usually find it difficult to get access to life cover. We understand your need to protect your family and that is why we have designed ICICI Pru Precious Life.

ICICI Pru Precious Life is specially designed to offer life cover to individuals who have existing health problems such as diabetes, cholesterol, high blood pressure, or those who have undergone critical surgeries such as angioplasty or open heart surgery.



Key benefits of ICICI Pru Precious Life


Wide Coverage

Wide Coverage

Life cover for individuals with existing health problems such as obesity, diabetes, high BP, asthma, and even for those who have successfully recovered from cancer or any other surgeries.

Enhanced Protection

Enhanced Protection^

Option to enhance your safety net with Accidental Death Benefit.

Need Based Benefit Payout

Need Based Benefit Payout

Choose to receive the benefit amount as a lump sum or as monthly income or a combination of both.

Flexibility

Flexibility

You have flexibility to pay premium once, for a limited period or throughout the policy term.

Loyalty Discounts

Loyalty Discounts

Our existing customers enjoy discount on the first year’s premium for this product. The discount is 5% for Regular Pay policies and 2% for Limited Pay policies.

Tax Benefits

Tax Benefits*

Premium paid and benefits received are eligible for tax benefits U/S. 80C and 10(10D)

HOW IT WORKS
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Varun is an IT engineer who led a happy life with his wife and two children. He was diagnosed with diabetes at an early age of 40. He realised that along with making changes to his lifestyle he also needs to ensure the financial well-being of his family. Knowing that getting a regular term plan with his health problem would be cumbersome, he decides to get ICICI Pru Precious Life Term Plan.

Why should you buy ICICI Pru Precious Life?

The term plans available today are more focused on providing life cover to healthy people. Individuals with health problems – be it lifestyle diseases or other medical conditions - may experience long and difficult processes to get life cover, if they get it at all.
Having a special product greatly reduces these instances as it factors in the nuances of various health problems and thus, offers life cover at an affordable premium with a hassle free process.

Does this plan provide tax benefits?

Yes, it gives three types of tax benefits.

  1. Premiums paid are eligible for tax benefits under section 80 C.
  2. Claim amount received by you or your nominee is tax free under section 10(10D).

Tax benefits under the policy are subject to conditions under Sec. 80C,10(10D) and other provisions of the Income Tax Act, 1961. Goods and Services Tax and Cesses, if any, will be charged extra as per prevailing rates. Tax laws are subject to amendments made thereto from time to time. Please consult your tax advisor for details, before acting on above.

Is death due to suicide included in this plan?

In case of death due to suicide within 12 months from the risk commencement date of the policy or from the date of revival of the policy, as applicable, the nominee or beneficiary of the Life Assured shall be entitled to an amount which is higher of 80% of the total premiums paid till the date of death or the unexpired risk premium value available as on the date of death, provided the policy is in force.

At what age can I start this plan?

You can start the plan at 18 years but the maximum age shouldn’t exceed 65 years.

How much money will my family receive in case of death due to accident?

Your family will receive a total of Sum Assured and Accidental Death cover if chosen by you.

What if my nominee wants to change the death payout option?

At the time of claim or thereafter, your nominee/ legal heir will have the option to convert all or some of his monthly income into a lump sum. The lump sum amount will be the present value calculated at a discount rate of 5% p.a.

Why should you buy ICICI Pru Precious Life?

The term plans available today are more focused on providing life cover to healthy people. Individuals with health problems – be it lifestyle diseases or other medical conditions - may experience long and difficult processes to get life cover, if they get it at all.
Having a special product greatly reduces these instances as it factors in the nuances of various health problems and thus, offers life cover at an affordable premium with a hassle free process.

Does this plan provide tax benefits?

Yes, it gives three types of tax benefits.

  1. Premiums paid are eligible for tax benefits under section 80 C.
  2. Claim amount received by you or your nominee is tax free under section 10(10D).

Tax benefits under the policy are subject to conditions under Sec. 80C,10(10D) and other provisions of the Income Tax Act, 1961. Goods and Services Tax and Cesses, if any, will be charged extra as per prevailing rates. Tax laws are subject to amendments made thereto from time to time. Please consult your tax advisor for details, before acting on above.

Is death due to suicide included in this plan?

In case of death due to suicide within 12 months from the risk commencement date of the policy or from the date of revival of the policy, as applicable, the nominee or beneficiary of the Life Assured shall be entitled to an amount which is higher of 80% of the total premiums paid till the date of death or the unexpired risk premium value available as on the date of death, provided the policy is in force.

At what age can I start this plan?

You can start the plan at 18 years but the maximum age shouldn’t exceed 65 years.

How much money will my family receive in case of death due to accident?

Your family will receive a total of Sum Assured and Accidental Death cover if chosen by you.

What if my nominee wants to change the death payout option?

At the time of claim or thereafter, your nominee/ legal heir will have the option to convert all or some of his monthly income into a lump sum. The lump sum amount will be the present value calculated at a discount rate of 5% p.a.

* Tax benefits under the policy will be as per prevailing tax laws. Applicable taxes such as Goods and Services Tax and cesses (if any) will be charged extra, as per applicable rates.

^ Available with Life Plus option. Maximum ADB Sum Assured is `2 Crores

UIN : 105N178V01. W/II/0667/2019-20
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