CUSTOMER SERVICE - FAQS

 
  POLICY ISSUANCE
 
  POLICY SERVICING
 
  POLICY CLOSURE
 
 
1. Policy Document Related
 

What do I do if I misplace my insurance policy?

If you misplace your insurance policy, you can request for a duplicate copy by visiting your nearest ICICI Prudential Life Insurance branch and submitting a notarized copy of an indemnity bond printed on stamp paper of Rs. 200/- Click here to download the format.

Reprint charges of Rs. 200/- will also be applicable.

 
2. Free Look Related
 

What is the Free Look period?

You have a period of 15/30days* to review your policy, once you receive the soft / hard copy of policy document. This review period is known as the Free Look period. If you are not satisfied with any of the details mentioned in the policy document, you can request for corrections/changes or cancel your policy within this review period.

The 30 day Free Look period is applicable only for policies purchased through Distance marketing.

*Distance marketing includes every activity of solicitation (including lead generation) and sale of insurance products through the following modes:

i. Voice mode, which includes telephone-calling
ii. Short Messaging Service (SMS)
iii. Electronic mode which includes e-mail, internet and interactive television (DTH)
iv. Physical mode which includes direct postal mail and newspaper & magazine inserts and
v. Solicitation through any means of communication other than in person.

Can I cancel my policy in the Free Look period? Will I get my premium amount back?

If you are not satisfied with the terms and conditions of the policy, you may return the policy document to the company for cancellation during the Free Look period.

On cancellation of the policy, the premium paid by you will be refunded and transferred to your registered bank account after adjusting for NAV fluctuations (if any) and deduction of stamp duty and any expenses borne by the company for conducting any medical tests.

What is the process to cancel my policy during the Free Look period?

To cancel your policy during the Free Look period, you will have to visit your nearest ICICI Prudential Life Insurance branch with the following documents:
1. Payout request Form – Click here to download the form
2. Original Policy Certificate- This is available in the policy document.
3. Copy of valid photo id signed by you (Passport, PAN Card, Voter's ID Card, Driving license, Ration card with photo)
4.Duly signed Cancelled cheque of the bank account where you want the policy amount to be credited

To locate our nearest branch, please visit www.iciciprulife.com/branchlocator

How do I track the status of the policy I have applied for?

Click here to track the status of your application. You just need to enter your application number.

 
3. Premium Payment:
 

How do I pay premium for my policy?

You can pay your premium through any of the following options:
I.Online: Click here to pay your premium through credit card, debit card or net banking.
II. Cheque: Click here to locate the various banks/ICICI Pru Life branches where cheque payment is accepted. Click here to locate nearest drop box
III. Cash: Click here to locate the premium collection centers where cash is accepted. Cash beyond Rs. 49,999 is accepted at certain locations with PAN Card or Form 60.

I have paid my premium, how can I check if it is applied to my policy?

Your premium payment details are available in your account on www.iciciprulife.com. To log on to your account click here. If you do not have an account click here to create one.

I have not paid premiums for my policy, can I revive my policy now?

Process to revive your life insurance policy if you have not paid your premium for less than 6 months:

  • Click here to pay your due premium and revive your policy.

Process to revive your life insurance policy if you have not paid your premium for more than 6 months:

  • Pay the due amount and submit a Personal Health Declaration form at the nearest ICICI Pru Life branch.
  • Click here to Download Personal Health Declaration form for Life policy.

Process to revive Health insurance plan

  • If you have not paid premium for more than 3 months for your Health Insurance Plan, you will have to pay the due premium amount and submit a Personal Health Declaration form at the nearest ICICI Pru Life branch.
  • Click Here to Download Personal Health Declaration form for Health policy.

What does "policy lapse" or "discontinued" mean?

If the due premiums are not paid while the policy is still within lock-in period, then the policy would lapse and all benefits of the policy would cease.

The policy holder has a grace period for premium payment, which is 15 days from the due date for monthly premium payment frequency and 30 days from the due date for half yearly and yearly premium payment frequency.

If the due premiums are not paid even after completion of 45 days of the grace period then the policy acquires a “discontinued” status, the policy benefits cease and the amount accumulated in the policy would move to the discontinued fund. This amount would be locked in till completion of the lock in period (five years from the date of policy issuance). Please note, policy discontinued is applicable for policies issued after Sep 1, 2010.

What happens if my policy lapses or is discontinued?

The policy holder loses out on all the benefits of the plan. After discontinuance of the policy it cannot be withdrawn. The policy holder would receive the invested amount only on completion of the lock-in period (five years from the date of policy issuance).

How can I revive my policy which is discontinued?

Policy holder can apply for revival of the policy within two years from the date of policy discontinuance by paying the due premium, reinstatement charges and submitting the Personal Health Declaration Form (if applicable). Revival of policy is subject to underwriting.

 
Profile / Contact Updation:
 

How do I change my communication/ registered address in my policy?

Documents needed for change of address
i. Written request for change in address
ii. Signed copy of Address proof (i.e. PAN Card, Passport, Electricity bill etc.)
Documents to be sent to
ICICI Prudential Life Insurance Company Limited
Unit no.1A & 2A, Raheja Tipco Plaza,
Rani Sati Marg, Malad (East),
Mumbai – 400097

Alternatively you can email the scanned copy of the above mentioned documents to lifeline@iciciprulife.com from your registered email id Do mention your policy number in the email.

How do I change / update my mobile number, in my policy?

You can change or update your mobile number, through the following options:
Website:  Click here to update / change your mobile number. You will need to enter your policy number, sum assured amount, date of birth and premium amount for verification.
SMS: Type “REG<space><policy number><space><date of birth of the policy owner in ddmmyyyy format>" and send to 56767. You need to send this SMS from your registered mobile number.

How do I change / update my email id in my policy?

You can also update or change your email Id, through the following options:
Website: Click here to update / change your email Id. You will need to enter your policy number, sum assured amount, date of birth and premium amount for verification.
SMS: Type “EREG<space><email id><space><policy number><space><date of birth of the policy owner in ddmmyyyy format>" and send to 56767. You need to send this SMS from your registered mobile number.

How do I update my Permanent Account Number (PAN), in my policy?

You can also update your PAN details, through any of the options mentioned below:
Website: Visit www.iciciprulife.com, go to Contact Information and click on “Update your PAN” icon. Just click here to update your PAN now.
SMS: TYPE PANC (<policyno>) (PAN No) and send to 56767 from your registered mobile number
Email: Email your PAN details to lifeline@iciciprulife.com with your policy number

 
Nomination:
 

Who is a nominee?

A nominee is the person who receives the proceeds of your life insurance policy in case of your untimely death.

Why should you appoint a nominee?

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.

Whom can you appoint as a nominee?

You may nominate any person as your nominee.

Who is a beneficiary nominee?

When you nominate your

a. parents or
b. spouse or
c. children or
d. spouse and children
e. or any of them

such person/persons shall be beneficially entitled to the amount payable, unless you are legally incapable of conferring this beneficial title.

Who is a collector 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.

Can nomination be made when life assured and proposer are different individuals?

Nomination is allowed only for self-proposed policies where the proposer and life assured are the same person.

How can you appoint nominee for your policy?

You may appoint a nominee while submitting the proposal by providing nominee details in the proposal form.

How can you add a nominee if no nominee was appointed at the time of proposal? Can a nominee be added after policy has been issued?

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.

Can a minor be appointed as Nominee?

Yes. But when you are appointing a minor your nominee, you will also have to appoint an appointee.

Who is an appointee?

An appointee may be appointed to receive the policy moneys in case of death of the life assured during the minority of the nominee. The appointee should be major person.

Can there be multiple nominees?

Yes. The Insurance Act provides that where there are more nominees than one, the policy money will be payable to them jointly or survivor(s) of them.

What happens if the nominee dies before the policyholder?

If the nominee dies before the policyholder, the proceeds are payable to policyholder or his heirs or legal representatives or holder of succession certificate.

What happens to the share of the nominee who dies after the policyholder but before the money is paid by the insurer?

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).

What happens if the policyholder dies after maturity of his policy but before the proceeds of the policy are paid to him?

In such cases the nominee(s) of the policyholder shall be entitled to the proceeds of his policy.

How can you change or cancel your Nomination?

A nomination may be cancelled or changed by an endorsement or by a will also. However, notice of such cancellation or change should be delivered to insurance company.

What happens if you do not notify the insurer of change/cancellation of nomination?

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.

Can you appoint nominee under MWP or HUF policies?

Nomination under MWP policies and policies financed from HUF funds is not allowed.

What happens to your nomination if you assign your policy?

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.

Exceptions: the nomination shall not be cancelled when you assign your policy:

a) To the insurer; or
b) For taking a loan; or
c) Against security; or
d) On reassignment of your policy after repayment.

In these cases, the nomination will get cancelled to the extent of the interest of the insurer or assignee in the policy. The nomination will get revived on repayment of the loan.

Which law governs the nomination provision for Insurance?

Section 39 of the Insurance Act governs the nomination provisions.

Is there a time frame for making or changing nomination?

You can make a fresh nomination or change your nominee at any time before the maturity of your policy.

Any fee payable for nomination?

If nomination is made at the time of issuance of policy, no fee is paid. However, for making changes in the registered nomination, we may charge a nominal fee.

 
Assignment:
 

What is Assignment?

Assignment is a method of transferring all rights and benefits under a life insurance policy to another person or institution.

Who are ‘Assignor’ and ‘Assignee’?

The person who transfers his right is called the "assignor" (i.e. the Policyholder) and the person to whom the right is transferred is called the "assignee".

When can you assign a policy?

You can assign your policy to take a loan against it, as a security or in order to gift it to someone.

Whom can you assign a policy to?

You can assign your policy to an individual or a financial institution provided there is an insurable interest between you and such individual/ financial institution.

How can you assign a policy?

For assigning your insurance policy you need to make an endorsement (explained below) upon the policy itself or by a separate document.

What should the endorsement contain?

1. You (or an individual authorized by You) should sign the endorsement.
2. It should be attested by at least one witness;
3. It should mention that you want to assign your policy and the reason for assigning your policy
4. The details of the assignee; and
5. The terms on which the assignment is made.

When do you need to send the notice of assignment to the insurer? What will happen if no notice is sent?

Whenever you assign your policy, you need to send a notice of such assignment to the insurer. An assignment will only be operative against the insurer if the following conditions are satisfied:

a) A notice in writing of such assignment is received by the insurer.
b) The endorsement/instrument by which endorsement is made or its copy, certified to be correct by both assignor and assignee or their duly authorized agents, have been delivered to the insurer.

You should send the notice to the branch at which your policy is serviced.

Do you need to pay any fees for getting your assignment recorded with the insurer?

We may charge a nominal fee for registering your assignment.

Can the company refuse to act upon an endorsement?

Yes, the Company can refuse to act upon an endorsement. The company will share the reason for refusal with you within thirty days from the date of receiving the notice of assignment.

Can the assignment be in favor of the Insurer?

Yes, when you may assign a policy in favor of the Insurer

What are the different types of Assignment?

A) Absolute Assignment: In an absolute assignment you transfer all interests, benefits, liabilities, obligations and rights under your Policy to the assignee, without any condition.

B) Conditional Assignment: This is an assignment of your policy which is dependent on a condition. Your assignment will be treated as conditional when:

a) Assignment or transfer is subject to terms and conditions of the assignment as agreed to by the assignor and assignee and suitably informed to the insurer; or
b) Where the assignment is made upon condition that in case the assignee dies before the insured, the proceeds under the policy shall become payable to policyholder or nominee(s) or if the insured survives the term of the policy, policy proceeds shall be payable to him.

Can a conditional assignee take loan on the policy or surrender the policy?

A conditional assignee will not be entitled to obtain a loan on policy or surrender the policy. However, this is subject to the terms and conditions of the policy

When can an Insurer accept assignment?

The Insurer may accept your assignment if there is an insurable interest between the assignor and assignee. Generally, following conditions are evaluated for assignment:

• in the interest of the policy holder
• bonafide
• not against public interest
• not for the purpose of trading

Who is entitled to the claim in cases where there are multiple assignments?

Where there is more than one assignment, the priority of the claims will be decided basis the order in which notice of assignment was delivered to the Company.

How do the rights and liabilities of assignor and assignee change post assignment?

The change in rights and liabilities depends upon the type of assignment:

A) Absolute assignment:

1. Right of Ownership of policy is transferred to assignee
2. Responsibility to pay future premiums is transferred to assignee
3. Right of Servicing is transferred to assignee

C) Conditional assignment:

Right of ownership, responsibility to pay future premiums and right of Servicing is as per the terms of assignment.

Is nomination cancelled on assignment?

When you assign your policy, it shall automatically cancel the nomination.

Exceptions: the nomination shall not be cancelled when you assign your policy:

a) To the insurer; or
b) For taking a loan; or
c) Against security; or
d) On reassignment of your policy after repayment.

In these cases, the nomination will get cancelled to the extent of the interest of the insurer or assignee in the policy. The nomination will get revived on repayment of the loan.

 
MWP Act:
 

What is the purpose of MWP Act?

Married Women’s Property Act, 1874, provides that a policy of insurance effected by any married man on his own life, and expressed on the face of it to be for the benefit of his wife, or of his wife and children, or any of them, shall create a trust for such beneficiary according to the interests expressed.

As long as any object of the trust remains, such policy shall not be subject to the control of the husband, or to his creditors, or form part of his estate.

Nothing contained under the Act shall operate to destroy the right of any creditor to be paid out of the proceeds of any policy of insurance which may have been effected with intent to defraud creditors.

Who can be the Proposer under these policies?

• A married man must ‘effect’ a policy of insurance on his own life i.e., the Proposer should be a married man, at the time of issuance of policy, proposing on his own life.

Exceptions:

• The Proposer should not be a resident of Jammu and Kashmir.
• An HUF, Company, Partnership or any other entity cannot propose under the MWP Act.

Who is entitled to the Benefits under these policies?

The following persons can be the beneficiaries under these policies;

• wife alone, or
• wife and children, or
• Child or children
• The wife of the married man, must be his wife under the applicable law at the stage when policy is issued.
• The beneficiaries nominated at the proposal stage, cannot be subsequently changed.

Can adopted children be beneficiaries under these policies?

The term “children” in Section 6 of the said Act means sons and daughters by blood and in case of Hindus it includes adopted sons and daughters. So in case where life assured is a Hindu, his adopted children can be beneficiary.
The word "children" includes one child.

Does MWPA benefit working women as well?

Yes, it does. A married man can take a policy under MWPA for the benefit of his working wife as well.

What happens if the couple gets divorced?

If wife was chosen as a beneficiary at the time of effecting the policy, she will get the maturity/sum assured benefit.

Who can act as a Trustee?

• Section 6 of the MWP Act allows an individual to buy a policy for himself under the Act and create a trust for the same.
• Where the Proposer does not appoint a trustee at the time of Proposal, Official Trustee of the State shall automatically become the trustee.

What are the rights of the Policyholder?

• Once a life insurance policy has been effected by a married man under Section 6 of the MWP Act, the policy cannot be “subject to the control” of the married man (i.e., the policyholder) and this would restrict the policyholder from surrendering the policy or making a partial withdrawal under the policy, notwithstanding the terms of the policy.

Who has the authority to take decisions like switch etc., with respect to the policy?

The policyholder can, with the express permission of the trustee, make decisions like switch of funds, change of premium frequency etc.

Can the policyholder assign this policy or take loan under it?

These policies cannot be assigned by the policyholder. The Policyholder cannot take loan under the policy

If MWP policy is cancelled during Freelook, who is entitled to receive the premium?

If a MWP policy is cancelled during freelook, the premium shall be returned to the policyholder and not the trustees.

Who is entitled to the surrender and maturity benefit?

• Both the surrender and maturity benefit will be availed by the trust and policyholder does not have any authority on the policy.
• The surrender request should be given by the Trust/Trustee and proceeds shall be received by the Trust on behalf of the beneficiaries.

Can MWP act be opted at any time during servicing stage?

• A policy can be brought under MWPA only at inception i.e. at proposal stage.

How are the MWP policies different from indemnity insurance?

• On maturity of MWP policy, maturity amount will go to the trust for the benefit of the beneficiaries only.

Can nomination be made under these policies?

No, nomination cannot be made under these policies.

 
Apply for Loan on your policy:
 

Can I get a loan on my policy?

Yes, you can apply for loan on your policy, if this feature is available on your plan. Some life insurance plans do not have this facility. Do refer the loan section of your policy terms and conditions for details.

How can I apply for a loan on my policy?

To apply for a loan, please visit the nearest ICICI Prudential Life Insurance branch, with your original policy document.

 
Track your Fund Performance:
 

How do I check fund value of my unit linked insurance policy?

You can check your fund value through the following options:-
Website: Click here and enter your policy number and date of birth. Your fund value will be sent to your registered mobile number
SMS: Type "NAV<Space><Policy number>" and send to 56767 from your registered mobile number.
ICICI Pru Life online account: Click here to login to your ICICI Pru Life account. If you don’t have an account, Click here to create one now.

 
Premium Payment:
 

How do I pay premium for my policy?

You can pay your premium through any of the following options:
I.Online: Click here to pay your premium through credit card, debit card or net banking.
II. Cheque: Click here to locate the various banks/ICICI Pru Life branches where cheque payment is accepted. Click here to locate nearest drop box
III. Cash: Click here to locate the premium collection centers where cash is accepted. Cash beyond Rs. 49,999 is accepted at certain locations with PAN Card or Form 60.

I have paid my premium, how can I check if it is applied to my policy?

Your premium payment details are available in your account on www.iciciprulife.com. To log on to your account click here. If you do not have an account click here to create one.

I have not paid premiums for my policy, can I revive my policy now?

Process to revive your life insurance policy if you have not paid your premium for less than 6 months:

  • Click here to pay your due premium and revive your policy.

Process to revive your life insurance policy if you have not paid your premium for more than 6 months:

  • Pay the due amount and submit a Personal Health Declaration form at the nearest ICICI Pru Life branch.
  • Click here to Download Personal Health Declaration form for Life policy.

Process to revive Health insurance plan

  • If you have not paid premium for more than 3 months for your Health Insurance Plan, you will have to pay the due premium amount and submit a Personal Health Declaration form at the nearest ICICI Pru Life branch.
  • Click Here to Download Personal Health Declaration form for Health policy.

What does "policy lapse" or "discontinued" mean?

If the due premiums are not paid while the policy is still within lock-in period, then the policy would lapse and all benefits of the policy would cease.

The policy holder has a grace period for premium payment, which is 15 days from the due date for monthly premium payment frequency and 30 days from the due date for half yearly and yearly premium payment frequency.

If the due premiums are not paid even after completion of 45 days of the grace period then the policy acquires a “discontinued” status, the policy benefits cease and the amount accumulated in the policy would move to the discontinued fund. This amount would be locked in till completion of the lock in period (five years from the date of policy issuance). Please note, policy discontinued is applicable for policies issued after Sep 1, 2010.

What happens if my policy lapses or is discontinued?

The policy holder loses out on all the benefits of the plan. After discontinuance of the policy it cannot be withdrawn. The policy holder would receive the invested amount only on completion of the lock-in period (five years from the date of policy issuance).

How can I revive my policy which is discontinued?

Policy holder can apply for revival of the policy within two years from the date of policy discontinuance by paying the due premium, reinstatement charges and submitting the Personal Health Declaration Form (if applicable). Revival of policy is subject to underwriting.

 
Bonus Declared:
 

How much bonus will I get on my life insurance plan?

Some of our life insurance plans have a feature of a bonus, which gets added to the policy on premium payment. The bonus amount gets accumulated in your policy and is paid to you along with your maturity payout. If your contact details are updated, you will receive an email and a letter informing you about the bonus amount added to your policy

For details on the Bonus Declaration rates, click here

 
Switch / Top-up
 

What is Fund switch?

Fund switch is a facility available on your unit linked life insurance policy through which you can transfer the current funds linked to your policy to another fund of your choice.

How can I switch funds linked to my policy?

You can switch funds instantly by logging on to www.iciciprulife.com with your User Id & Password or submit your request at any of our branches.

Steps to switch funds online:

1. Log on to www.iciciprulife.com with your User Id & Password.
2. Select the policy for which you want to switch the funds..
3. Enter your email id and contact number for validation.
4. Choose the target fund and add the % of funds that you want to switch.
5. Review the target fund details that you have entered.
i. If correct, select ‘I accept Terms and Conditions’ and click on confirm.
ii. If the details are incorrect, click on ‘Edit’ to change your allocation.

Alternatively, you can also submit your request with a Fund Switch application form at the nearest ICICI Pru Life branch. Click here to download the form. To locate our nearest branch visit www.iciciprulife.com/branchlocator

How many times can I switch my funds?

The first four switches in any policy year are free of cost. Additional switches will be charged at Rs. 100/- per switch (excluding service tax & education cess amount) by redemption of units.

Currently the minimum amount per switch is Rs.2000/- we may change this amount from time to time as per the rules of the company and subject to the regulators’ approval. Any unutilized switch cannot be carried forward.
For more details, refer to the policy terms and condition

What is premium redirection?

Premium redirection is a facility available on your policy through which you can direct your future premiums (i.e. premiums paid after giving the premium redirection request) to a new fund of your choice. This option does not switch your current funds, it only allocates your future premiums to a new fund. This option is available without any charges and it will not be counted as a switch.

If your policy is issued after 20th Aug 2007, then this facility is applicable only if you have opted for the Fixed Portfolio Strategy in your policy.

Note: For more details on premium redirection, kindly refer to your policy document

What is the difference between Fund switch & premium redirection?

Fund Switch will shift your current funds from the existing fund to a new fund, while your future premiums will continue to get invested in current (i.e. existing) fund.

Premium redirection will ensure your future premiums are allotted in new funds, without changing your current fund holding.

I do not understand market, how do I decide when to switch?

In case you are not market savvy, you can opt for Automatic Transfer Strategy (ATS).

With this facility a fixed amount of your choice (refer policy document) would be transferred from your debt fund to equity fund, every month. This will help you balance the risk of investing in the equity market.

To opt for this ATS, you need to submit an ATS form at the nearest ICICI Prudential Life Insurance branch or courier the form to our communication address.

click here download Automatic Transfer Strategy request form

 
Survival Benefit Payout:
 

What is Regular / Survival Payout?

Survival Benefit Payout is a percentage of sum assured paid at regular intervals of your policy term, based on the option chosen by you. This amount is directly credited to your registered bank account. This feature is available only in certain plans i.e. {ICICI Pru SmartKid RP (A03); ICICI Pru Cash Bak (A01, A02); ICICI Pru ReAssure (V51,V52, V71,V72); ICICI Pru Cash Advantage (E10); ICICI Pru Anmol Bachat (E15, E16)} If you have any of these plans, you can refer your policy document for details on the applicable amount.

Kindly note, TDS would be applicable as per prevailing finance norms.

 
Contact your advisor:
 

How do I get contact details of my advisor?

You can get contact details of your advisor by calling us on 1860 266 7766
Kindly follow below given steps to get the details
i. Call on 1860 266 7766
ii Select Language of your choice
iii Select 'Existing Customer' option
iv Select option 'Advisor contact details'
Details would be received on your registered mobile number.

 
Website user id and password:
 

How do I create a User Id & Password for my policy?

Click here to generate your User Id & Password

I forgot my User Id & Password?

Click here to reset your Password

Can I change my User Id ?

Yes, you can change your user id by following 3 simple steps:

i) Login with your existing user id & password
ii) Click on “Change User Id” in “My Profile”
iii) Reset your user id & get immediate confirmation
Click here to reset your user Id now

I want to make a complaint, who should I write to?

Click here to register your complaint.

 
Life Claims:
 

How do I apply for a Death claim?

Click here for more details on claim application process.

 
Maturity Claim:
 

How do I claim my policy maturity benefits?

If your policy offers a maturity benefit, the maturity amount will be paid to you provided all due premiums are paid. This amount will be directly credited to your registered bank account within 7 days of your policy maturity date.

IRDA has now made it compulsory for all policy holders to register their bank account details to receive all policy payouts directly into their bank account.

Documents to register your bank account details:
I. Duly filled Electronic Payout Mandate. Click here to download the same.
II. A Cancelled Cheque of the Bank Account in which you want to receive your maturity amount.
III. Signed copy of your Identity proof such as PAN Card, Driving License or Passport

You may submit these documents at the nearest ICICI Prudential Life Insurance branch office or courier it to our registered communication address.

Kindly note, TDS would be applicable as per prevailing finance norms.

 
Availing of annuity (Pension):
 

I have a pension plan, how do I apply for pension?

We will send you an annuity quotation along with a list of documents (if any) and details on the process to apply for a pension payout, before your policy matures. In case you do not receive this communication one month prior to your policy maturity date you may contact us at any of our touch points.

What is Existence Verification Check (EVC), and how do I submit the same?

Existence Verification Check (EVC) is a form that needs to be filled and submitted to the company annually, to continue your pension payout. EVC needs to be submitted only after pension / annuity payout has started. The EVC form can be submitted at the nearest ICICI Prudential Life Insurance branch or couriered to our communication address

Download EVC Form for annuity plan

Download EVC Form for group plan

 
Partial Withdrawal:
 

What is Partial withdrawal and how do I apply for it?

Partial withdrawal helps you withdraw some amount from your policy and continue with your life insurance plan. The amount that can be withdrawn would depend on the type of insurance plan you have. For details, you may refer to “Partial withdrawal” section in your policy document.

To apply for partial withdrawal, you need to submit the following documents:

1. Partial withdrawal form. Click here to download
2. Original Policy certificate
3. Copy of any one valid photo id signed by the policy holder(Passport, PAN Card, Voter's Identity Card, Driving license, Ration card with photo)
4. Copy of signed cancelled cheque

Kindly note, TDS would be applicable as per prevailing finance norms.

 
Surrender of Policy:
 

What is Surrender and how do I apply for same?

Surrender is mid-term termination of your life insurance policy which you have purchased to secure your family’s future. With Surrender of your policy your life insurance cover will end and all your policy benefits will stop. Hence we recommend you to re-think your decision of surrendering the financial security of your loved ones.

However, if you still wish to surrender your policy, you need to submit the following documents at the nearest ICICI Pru Life branch
1. Original Policy certificate
2. Copy of any one valid photo id signed by the policy holder (Passport, PAN Card, Voter's Identity Card, Driving license, Ration card with photo)
3. Copy of signed cancelled cheque
4. Surrender form.

Please note: IRDA has now made it compulsory for all policy holders to register their bank account details to receive all policy payouts directly into their bank account. Hence do not forget to fill bank details in “Payment” section on the surrender form.

Note: For more details on Surrender, kindly refer to your policy document

TDS would be applicable as per prevailing finance norms.

 

Disclaimer: The FAQs are prepared for general information purposes only. You should not act on this information without first seeking independent legal and other professional advice. The information shared does not constitute legal advice or opinions of any kind, or any advertising or solicitation. Your use of any of this information is at your own risk. ICICI Prudential Life insurance Co. Ltd. and its affiliates (and any of their respective directors, officers, agents, contractors, suppliers and employees) shall not be liable for any damages, losses or causes of action of any nature arising from use of any information shared.

 
 
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