Why is ICICI Pru iCare II special?
ICICI Pru iCare II provides protection to your family. It ensures that they will lead their lives comfortably without any financial worries, even in your absence. In the unfortunate event of death during the policy term, your family will receive a lump sum amount called Life Cover.
With this plan, you also get the option for extra protection in case of death due to accident.
How much money will my family receive in my absence?
Your loved ones will receive a lump sum amount in your absence according to the benefit option chosen by you:
| Plan Type | Benefit paid out to the nominee |
|---|---|
| iCare II Option I | In this option, the lump sum amount your family receives is equal to the Sum Assured* chosen by you. |
| iCare II Option II (applicable only for Regular Pay option) | You can choose Accidental Death Benefit equal to the sum assured chosen by you up to a maximum of `2 crore. |
*Sum Assured is the fixed minimum amount your family receives in your absence.
With this plan, you can reduce your taxable income by paying up to `1.5 lakh under Section 80C. This will help you save tax. 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.
