An Insight into ICICI Life Insurance Policy

In today’s busy schedule, life insurance is mandatory for everyone to make sure their family has some fixed source of income to manage their primary expenses as well as to protect their future. ICICI Life Insurance policies provide comprehensive coverage to you along with your family, thereby ensuring your family faces no financial issues going forward, especially when you are no longer with them. At least, some source of income must be there to make them realize that actually cared about their future.

ICICI offers pure protection plans and requires the policyholder to pay premium annually or regularly subject to the policy terms and conditions. These plans make sure that nominee gets the Sum Assured along with Death Benefit, in case something unfortunate happens, resulting in your demise. Additional options for protection enhancement are also there for the policyholder, which include cash payouts for diagnosing 31 life-threatening diseases and critical illnesses.

ICICI Pru iProtect Smart

A term insurance policy that is available at affordable annual premiums, providing comprehensive life coverage to you and your family. It offers 360-degree life protection and ensures large coverage to your loved ones against 36 life-threatening illnesses and accidental death.

How it works

ICICI Life Insurance Plans are available online and you can buy one as per your requirements. With the help of an online calculator, you can pick your best-fit level of cover. Provide your information as required, including some key information about your health with ensured accuracy. You have multiple options for premium payment, including online banking and credit card. The policy coverage is subject to clearance of medical tests, submission of required documents, and premium paid.

Eligibility

ICICI Pru iProtect Smart policy has certain eligibility criteria that must be met by you without failure. Following are the key points:

·         Minimum age at Entry: 18 years

·         Maximum age at Entry: 65 years

·         Minimum age of Maturity: 23 years

·         Maximum age of Maturity: 75 years

·         Premium Payment Options: Regular Pay, Limited Pay, Single Pay

·         Premium Payment Terms: Single for Single Pay, Same as Policy Term for Regular Pay, Policy Term to 5 years for Limited Pay

·         Premium (Min): Rs. 2400 (does not include service tax)

·         Accidental Death Benefit: An amount equal to Sum Assured (subject to company policy)

·         Premium Payment Mode: Single, Annually, Semi-annually, Monthly

·         Sum Assured (Min): As per minimum premium payment

·         Sum Assured (Max): No limit.

Primary Benefits

·         This affordable life insurance policy provides lifelong cover to and your family, thereby ensuring you secure future.

·         Cash payout of up to Rs. 1 crore as coverage for 34 life-threatening illnesses.

·         Permanent accidental disability leads to policy continuation with no further premium payments.

·         Complete Sum Assured is paid, in case you’re diagnosed with a terminal illness.

·         Flexibility to increase insurance cover at key life stages, such as Marriage, Childbirth and so on.

·         Income Tax benefits.

This affordable life insurance policy is easy to buy online and comes with additional benefits for non-tobacco user and women.