ICICI Prudential Life Home Assure | Home Assure Benefits & Advantage

Overview –

Owning your very own home is a loved dream. We want to ensure that this dream comes true, irrespective of what the future holds. We are happy to bring you Home Assure. This extremely reasonably priced Term Life Insurance Plan offers you protection against your loan amount with complete convenience in application. In case of an ill-timed event of death, the financial security of your family is not affected. The family need not direct their savings towards paying off the outstanding loan. ICICI Prudential will pay the outstanding amount to the bank directly. Your family will continue to retain the home purchased by your hard earned money.

Eligibility –

Age at entry	18 – 60 years
Maximum Cover ceasing age	70 years
Term of the plan	2 -22 years
Minimum Sum Assured	Rs.25,000
Maximum Sum Assured	Equivalent to the loan amount

Features & Benefits –

1. All you have to do is pay a single premium to opt for the insurance cover and you will continue to remain covered during the insurance tenure i.e. the under-construction period (if applicable) + the original home loan tenure.

2. You will need to state in advance the estimated under-construction period as 0, 1, or 2 years. This will be added to the home loan term to calculate the total insurance term.

3. You will be covered for the entire loan amount (sanctioned home loan + single premium paid). The premium is very reasonable and there will be a minimal increase in the EMI due to the loan for the insurance premium

4. The insurance cover would start from the date of first disbursement of the home loan and ICICI Prudential shall accept risk from the date the premium is debited to the account of the life assured.

5. The insurance cover would be as per the unique loan schedule.

6. On survival up to the end of term, no benefit will be payable.

Tax benefits: Premium paid for the policy and critical illness benefit rider will be eligible for tax benefit under Sec. 80C and 80D respectively. Any amount paid to you will be eligible for tax benefits under Sec. 10 (10D) as per prevailing Income Tax laws.

Possibly Related Posts:

Tags: ICICI Pru Home Assure, ICICI Pru Life Insurance, Life Insurance, Term Insurance