Finding the Best ICICI Term Plans

Life is definitely uncertain. And, if you are the only breadwinner, you surely cannot take any chances with your breaths. After all, you wouldn’t want your family to suffer from major financial losses if you pass away unexpectedly.

In such a situation, having a term Life Insurance plan that covers the risk of premature death or sudden disability can compensate your family with a specific corpus, enough to help them meet their Financial goals and monthly expenses.

One of the leading names in the Industry, ICICI Prudential Life Insurance has come up with specific term plans. Let’s explore these ICICI term plans and find out which one would be appropriate for you.

Types of ICICI Term Plans

1. ICICI Pru iProtect Smart Plan

This ICICI Term Insurance is one of the comprehensive plans that allow a variety of coverage options. Basically, this iProtect Smart covers four different options, such as Life, Life Plus, Life & Health and All-in-One. With this smart plan, you can easily secure your family against health-related and life contingencies. Along with that, you can also acquire a death cover of up to 2 crores with this specific plan.

Features

• Different options to avail the benefit, including instalments, lump sum, and a half in instalments & half in a lump sum
• Different modes to pay premium payments
• Critical illnesses that are specific to females are also covered
• Sum assured can be increased on childbirth or marriage

2. ICICI Pru iCare II Plan

Being an authentic ICICI term insurance plan, this one offers adequate death benefit; thus, ensuring comfort and financial stability for your family during your absence. Under this plan, you can find two different coverage options. The first one offers a sum assured on death. And the second one is an inbuilt accidental benefit rider that pays an extra assured sum in case of sudden accidental death.

Features

• Flexible, two different options to choose from
• The maximum tenure can go up to 85 years of age
• Adequate tax benefits under income tax Section 80C and 10 (10D)
• Surrender value available for single pay option

3. ICICI Pru Precious Life Plan

This ICICI Pru term plan is a specific and unique term policy that provides insurance to even those who are fighting with a pre-diagnosed illness, such as hypertension, diabetes, and more. Along with that, this one is also suitable for those who have undergone critical surgeries, including open-heart surgery. Under this plan, you can find two options, such as Life and Life Plus.

Features

• An accidental death benefit rider is available that offers additional benefit upon an accidental death
• The benefit can be availed in instalments, lump sum or a combination of both
• Premiums can easily be paid once for a specific duration
• The plan also offers a significant discount on the premium of the first year

4. ICICI Pru Life Raksha Plan

This ICICI Bank term plan is a short-term insurance policy that can be availed for a specific duration. Despite its lesser tenure, it offers adequate amount to cover the financial security of your family. In case the policyholder passes away, this policy offers 105% of the total paid premium, 10 times of the annual premium or the higher of the assured sum is paid.

Features

• The policy comes with a fixed duration
• The insured must pay premiums for the entire duration to avail benefits
• No survival benefit or maturity benefit available
• Tax benefits available

5. ICICI Pru POS iProtect Smart Plan

Under this ICICI iProtect term plan, you can avail two different options. The first one is known as Life and provides sum assured if the insured passes away during the tenure. The second one is known as Life Plus that provides an Accidental Death Benefit Rider along with the policy.

Features

• Affordable and pocket-friendly premiums
• The plan can be purchased without any medical examination
• The premium can be paid either once or regularly
• Tax benefits available

6. ICICI Pru POS Life Raksha Plan

Out of all, this ICICI prudential term plan is easiest to avail. You wouldn’t have to undergo any medical examination to avail this insurance plan. Thus, it is appropriate to cover monthly financial requirements of your dependents in case you are not there.

Features

• Fixed coverage duration
• Sum assured is paid if the insured passes away during the tenure
• Regular premiums will have to be paid
• Death benefit available

Documents Required to Buy ICICI Term Plan

Now that you are aware of all the ICICI term plans, you can go ahead and make a pick. However, while availing the policy, you’d have to submit a few documents. Following are the ones you need to keep handy:

• Aadhar card
• PAN Card
• Income proof
• Address proof
• Age proof
• Identity proof
• Photographs
• Completely filled and signed insurance form

How to Make an ICICI Claim?

• The company must be informed regarding the death of the insured person
• The nominee must fill up the claim form and submit the same along with the needed documents
• The death certificate must be attached with the form
• The company could do an investigation to assess the authenticity of the death
• Once the procedure is completed, the claim is processed and paid directly to the nominee

Documents for Death Claim

If you wish to make a death claim with ICICI, following are some of the documents that you would have to carry along to quicken the process for the same:

• Completely filled and signed claim form by the nominee
• Original death certificate issued by the local authority
• In case of accidental death, police FIR, coroner’s report, panchnama, police inquest report will be needed
• In case of an illness or disease caused death, hospital reports should be attached
• Any other document that might be demanded by the ICICI officers

ICICI Term Plan Customer Care

• Customer Care Number: `1860-266-7766``