- Life Cover + Multiple Benefits9## in 1 plan
- Trusted by over 3 cr families₸
Steps to buy
How the plan works? Play Video
The Life Cover is payable to the nominee
for 10 years
Life & Health Cover of
₹1 crore & Critical Illness
Cover of ₹20 lakh for 30 years
She is paid ₹20 lakh as a lump sum &
policy continues with the Sum Assured
reduced to ₹80 lakh
at the age of 55,
her nominee gets
₹80 lakhs as lump sum
Quick Guide to your plan
Term Plan Calculator
Quick Guide to your plan
If you have children or dependent adult family members and are responsible for paying for their needs and upkeep then you must buy a term plan
The premium for term insurance increases with age. So it makes smart sense for young professionals without financial liabilities to buy term plan early – this way they get lower premium rates and the rates will not increase over time
Newly married couples
A term plan can help you create a financial safety net for your growing family so that their dreams are never compromised, even when you are not around
Home loan repayment
In case of an unfortunate incident, the responsibility of paying the outstanding loans should not fall on your loved ones. In case of your unfortunate demise, the death benefit payout from the term plan can be used by your family to repay your loans
If budget is a problem, you can go for a monthly premium payment option over a yearly commitment. However, it is important to have a sufficient term insurance cover so that your family’s financial security is not compromised. A term insurance premium calculator will help you in choosing the term insurance cover well suited to your budget
- Lump sum - The entire life cover is payable as a lump sum (single payment)
- Regular income - 10% of the life cover is payable every year for 10 years. This is paid in equal monthly installments
- Increasing Income - The life cover is payable in monthly installments for 10 years starting with 10% of the life cover in the first year. The income amount will increased by 10% per annum thereafter
- Lump sum + Income - You have the flexibility to split the life cover amount that you want your nominee into two parts – one part of the life cover as a lump sum and the remaining life cover will be paid in equal monthly payments for 10 years
- Flexibility to customise - The term insurance calculator gives you the flexibility to design your term plan as per your needs. You can pick and choose your own life cover amount, choose to strengthen your coverage by adding riders, choose the premium payment term and payout method as per your financial plan.
- Efficient - The term insurance premium calculator can generate a customised quote for you within 2 minutes And all of this is free of charge
- Enter your name, email address, and phone number
- Enter your date of birth and gender
- Enter your annual income
- Mention lifestyle habits like smoking, consuming tobacco or alcohol (if any)
- Enter policy related details like the life cover amount, policy tenure, premium payment method, frequency of premium payment (monthly, half-yearly, annual, etc.)
- Choose riders like the terminal illness benefit, the critical illness benefit, the permanent disability benefit, or the accidental death benefit. Riders are optional, but you can add them if you want additional protection
Claim Settlement Process
Why choose ICICI Prudential Life?
Frequently Asked Questions
- Not enough cover – The cover provided by company’s life insurance policy (generally ₹10-15 lakh) may not always be sufficient to sustain your family in case something happens to you.
- Will lose coverage if you change your job – This coverage is dependent on your job. If you leave the job, the insurance cover ends then and there, till you join a new job. The period between the end of the old job and the start of the new one would be without cover.
- Standard policy for all employees, not customized to your needs – The life insurance policies provided by your employer are standardized policies which are not customized according to your specific needs and don’t generally contain any provisions for critical illness, terminal illness and disabilities.
- Brand: Choose a well-known brand that is financially strong and sure to be around for a long time. ICICI Prudential Life Insurance is an old and trusted private sector life insurance company in the country with an Assets Under Management value of ₹1529.68 bn $ (as on Mar 31, 2020).
- Claim settlement: Select an insurance company with a consistently high claim settlement ratio and an easy and hassle free claim settlement process. With ICICI Prudential’s term plan, you can get your claim settled within 1 day*. The company has a claim settlement ratio of 97.9% (FY 2020-21)~ and has paid ₹195.28 bn$ in claims (since inception up to Mar 31, 2020). You can check our last 5 years’ claim settlement ratio here.
- Additional benefits: Look for additional benefits such as critical illness coverage and accidental death coverage. ICICI Prudential Life term plan provides the option to get health coverage for 34 critical illnesses## up to ₹1 crore and accidental death coverage9 up to ₹2 crore.
- Ease and convenience - You can complete your purchase in just a few minutes anytime anywhere. The plans can be accessed via mobile internet too.
- Better control – Buying a term plan online lets you customize it according to your exact needs instead of relying on someone else to do so.
- Complete transparency – As there are no intermediaries involved and you buy directly from the insurance company, the entire process is transparent and you are not set up for any unpleasant surprises later on.
- Full security – Your personal and health information is private and secure.
- Online discount – ICICI Prudential provides 5% discount‘ when you purchase our term plan online (If you are an ICICI group employee, you get 10% discount throughout the policy term, even if you leave the organization after purchase of the policy).
- Terminal Illness Benefit: You receive 100% claim payout in case you contract a terminal illness3
- Permanent Disability Benefit: All your future premiums are waived off while your policy continues if you get a permanent disability5
- Critical Illness Cover: This is an optional benefit the customer can purchase wherein he/she receives a pre-determined claim amount in case of diagnosis of any of 34 specified critical illnesses##. No bills or proof of expenditure4 is required. There is also no restriction of network hospitals. You can use the claim amount to get a treatment of your choice or however else you deem fit. This benefit is accelerated and not additional, which means the policy will continue with the Death Benefit reduced by the extent of the critical illness benefit paid.
- Accidental Death Cover9: This is another optional benefit wherein an additional cover is payable in case of death due to accident. The maximum cover that can be availed is ₹2 crore.
- Lump sum – entire claim amount is paid out at once
- Monthly income –life cover payout in made in equal monthly instalments
- Increasing income – life cover payout in monthly instalments that increase by 10% every year
- Lump sum + Income – one large payout at once and remaining in monthly instalments
- Our term insurance premium calculator allows you to check premiums for each of these payout options and you can choose whichever is the best suited for you.
- Personal Information: Here, you need to enter your full name, marital status, highest education level, occupation, PAN number, and your communication address. In case you are salaried, you will be required to give details of the organization you work for – the name and type of organization. In addition to this, you will also be asked to enter details of your nominee – their full name, gender, date of birth and relationship with life assured. You will be required to declare any other life insurance policies you might have.
- Health Details: Here, you need to enter your height, weight and details of pre-existing health conditions, if any. Fill in this page very carefully and to the best of your knowledge to prevent rejection of claim due to incorrect information later.
- Documents Upload: You can choose to upload documents now for faster issuance or proceed to payment directly and upload the documents later. Documents needed are your photograph, PAN card, Address Proof (Aadhar card/Passport/Driving License/Voter’s ID) and Income Proof (last 3 months’ salary slips/ last 3 years’ ITR/ last 6 months’ bank statement/ Form 16). Accept the declaration that all the information submitted by you is correct and move to the payments page.
- i. One recent photograph
- ii. PAN card (mandatory)
- iii. Income proof (last 3 months’ salary slip/ last 3 years’ ITR/ Form-16/ last 6 months’ bank statement)
- iv. Official ID proof (passport/driving license/voter’s ID/Aadhar card)