Why is ICICI Pru Life Raksha special?

You care for your family and wish to fulfill their needs. But life is uncertain. You would want that the needs of your loved ones are provided for in your absence. Presenting ICICI Pru Life Raksha, a plan that provides you and your family complete protection. Under this plan, in case of any unfortunate event during the policy term, your family receives a lump sum that will take care of their financial needs.

How much money will my loved ones receive in my absence?

In case of an unforeseen event during the policy term, the higher of the following will be paid to your family:

  • A fixed, minimum amount called Sum Assured

  • An amount equal to 10 times the annual premium*

  • 105% of the total premiums paid

*Excluding applicable premium payment frequency loading, if any, and taxes. Premium payment frequency loading is an extra charge that is added to your base premium when you choose to pay your premiums on a monthly basis.

With this plan, you can reduce your taxable income by paying up to ` 1.5 lakh as premium under Section 80C. This will help you save tax. What's more, the amount received on death is also tax free*.

*Tax benefits under the policy are subject to conditions under Section 80C, 10(10D) and other provisions of the Income Tax Act, 1961. Applicable taxes will be charged extra as per prevailing rates. Tax laws are subject to amendments from time to time.

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Product Snapshot

Securing the future of your family, their comfort and happiness has always been your priority. You would want them to be protected even when you are not around.

ICICI Pru Life Raksha plan takes care of this need to secure the future of your family. With this plan, in case of an unfortunate event, your loved ones are given a lump sum amount to help manage their regular expenses.

Product at a Glance - ICICI Pru Life Raksha

How many years do I have to pay premium for?

You have to pay the premiums throughout the policy term.

How long does the policy last?

The policy lasts for 5 years.

How much money will my loved ones receive in my absence?

Your family will receive a minimum Sum Assured# of `50,000 or a maximum of `5,00,000.

How much premium can I pay?

Your premium amount depends on the Sum Assured and your age.

At what age can I start this plan?

The minimum age of entry in this plan is 18 years and the maximum age should not exceed 60 years.

Can I pay the premium yearly, half-yearly or monthly?

Yes, you can choose to pay your premiums yearly, half-yearly or monthly.

If you choose to pay your premiums monthly, there is a premium loading* of 5%. There is no premium loading if you choose to pay your premiums by direct debit^.

How many years do I have to pay premium for?

You have to pay the premiums throughout the policy term.

How long does the policy last?

The policy lasts for 5 years.

How much money will my loved ones receive in my absence?

Your family will receive a minimum Sum Assured# of `50,000 or a maximum of `5,00,000.

How much premium can I pay?

Your premium amount depends on the Sum Assured and your age.

At what age can I start this plan?

The minimum age of entry in this plan is 18 years and the maximum age should not exceed 60 years.

Can I pay the premium yearly, half-yearly or monthly?

Yes, you can choose to pay your premiums yearly, half-yearly or monthly.

If you choose to pay your premiums monthly, there is a premium loading* of 5%. There is no premium loading if you choose to pay your premiums by direct debit^.

*Premium loading is an extra charge that is added to your base premium for choosing the monthly premium payment mode.
^Direct Debit is a service that can be availed by giving instructions to your bank to automatically pay premiums to the insurance company on a date decided by you.
#Sum Assured is the fixed minimum amount that your nominee receives in your absence.
ICICI Pru Life Raksha (UIN: 105N149V01)

W/II/0255/2016-17

Mr. Arjun, who is 25 years old, bought his first two-wheeler on credit. He wants to make sure that in case of an unfortunate event, the burden of the credit does not fall upon his family. He approaches the nearest ICICI Prudential Life Insurance branch and buys ICICI Pru Life Raksha with a Sum Assured of `1 lakh and policy term of 5 years. His premium is just `831 each year, excluding service tax and cesses. In case of his demise anytime during these 5 years, his nominee will receive `1 lakh, which will be sufficient to cover the bike loan.

 

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