ICICI Pru iCare, protect your family’s future and ensure that they lead their lives comfortably without any financial worries, even in your absence.
Even if something unfortunate were to happen to you, you would want your family’s future to be secured at all times.
ICICI Pru iCare Glance –
Minimum / Maximum age at entry
18 / 65 years (age last birthday)
Minimum Policy term
5 years
Maximum Policy term
Regular Pay: 30 years
One Pay: 10 years
Policy term will be in multiples of 5 years
Maximum age at policy expiry
75 years (age last birthday)
Minimum premium
Rs. 3,000 (excluding service tax and education cess)
Accidental Death Benefit
(Only with iCare Option II)
Equal to Sum Assured, subject to a maximum of Rs. 50 lakhs
Minimum Sum Assured
Rs. 10 lakhs subject to a minimum premium of Rs. 3,000 (excluding service tax and cesses, as applicable.)
Maximum Sum Assured
|
Age band (last birthday) |
Maximum Sum Assured |
|
18-50 |
1.5 crore |
|
51-65 |
70 lakhs |
Premium payment option
Regular Pay. Company may offer One Pay option for 5 and 10 year policy terms.
Mode of premium payment
Regular Pay: Yearly
One Pay: Single
Tax benefits
Premium paid towards the policy will be eligible for tax benefits u/s 80C of the Income Tax Act, 1961
Key benefits
Flexibility to choose protection cover based on your needs from:
- Option I: Death benefit equal to Sum Assured
- Option II: An additional death benefit equal to Sum Assured or Rs. 50 lakhs, whichever is lower, payable only in case of death due to accident
- Instant life insurance cover through a simple online application process
- Insurance cover at extremely affordable premiums
- Option of regular pay and one pay
- Tax benefits on the premiums paid
1. The life insurance cover will begin immediately on acceptance of proposal.
After submission of the application form, if it is found that the customer has existing policies which have not been disclosed and due to which, there is a change in the underwriting decision of the Company, the Company will withdraw the cover subject to Section 45 of the Insurance Act, 1938 and below mentioned clause 1a.
- 1a. The maximum benefit payable on death, excluding the Accidental Death Benefit under ICICI Pru iCare Option II, in respect of all policies issued on the same Life Assured will be limited to the maximum Sum Assured applicable for this product. The additional Accidental Death Benefit payable under ICICI Pru iCare Option II in respect of all policies issued on the same Life Assured will be limited to Rs. 50 lakhs.
2. Tax benefits under the policy are subject to conditions u/s 80C of the Income Tax Act, 1961.
Service tax and education cess will be charged extra, as per applicable rates. The tax laws are subject to amendments from time to time.
How does this term insurance plan work?
- Choose between two options available under ICICI Pru iCare, based on your protection needs.
- Fill in your personal details and answer some simple questions related to your health.
- Pay the premium through your internet banking account or through your credit/debit card. You will have to pay the premium as per the premium payment option chosen.
- Life insurance cover on your policy begins immediately on acceptance of proposal.
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