Life Insurance

Terms and Conditions apply. The values shown are for representation purposes only. Actuals may differ.

*The premium has been calculated for a 30 year old healthy male for a life cover of ₹50 lakhs and an accelerated Critical Illness cover of ₹10 lakhs under ICICI Pru iProtect Smart – Life & Health option for a policy term of 20 years, for regular income payout option and is exclusive of all taxes. The annual premium rate is ₹5,787 (exclusive of all taxes)

*The above example is for a 40 year old healthy male for ICICI Pru Heart/Cancer Protect for all the benefits chosen. (i.e hospital,Income,Increasing Cover or ALL) with health insurance cover of Rs. 50 lakh (Rs. 25 lakh heart cover + Rs. 25 lakh cancer cover) for a 20 year policy term and is exclusive of all taxes. In case of yearly premium frequency, the total premium will be Rs. 31,989 (exclusive of all taxes)

^#The critical illness benefit is an accelerated benefit and the death benefit will be reduced by the critical illness cover paid to the policyholder. To know more about the illnesses covered, please refer to the sales brochure. This is only available in Life & Health and All in One options.

⁺This benefit is only available under Life Plus & All-in-one options

¹Tax benefit of Rs 54,075 is calculated at highest tax slab rate of 30.9% (including Cess) on insurance premium u/s 80C/80CCC of Rs 1,50,000 and health premium u/s 80D of Rs 25,000. Tax benefits under the policy are subject to conditions under Sec. 80C, 80D and Sec 10(10D) of the Income Tax Act, 1961. Goods & Services Tax and Cesses, if any, will be charged extra as per prevailing rates. Tax laws are subject to amendments from time to time.

~Doctors document confirming diagnosis to be submitted.

**Tax benefit is calculated at highest tax slab rate of 30.9% (including Cess) on health premium of Rs 25,000 u/s 80D of the Income Tax Act, 1961.

^{Conditions Apply}Guaranteed benefits are payable subject to all due premiums being paid and the policy being in force. Your Guaranteed Maturity Benefit (GMB) will be set at policy inception and will depend on policy term, premium, premium payment term, Sum Assured and gender and may be lower than your Sum Assured. Guaranteed Additions (GAs) totaling 5% of GMB each year will accrue during the first five policy years if all due premiums are paid. GAs accrue on payment of due premium. Bonuses consist of vested reversionary bonuses, interim bonus and terminal bonus, if any (this is in addition to what is mentioned).

⁴Capital Guarantee will be available in terms of Assured Benefits, which is applicable only at maturity of the policy. Assured Benefits will be 101% of the sum of all premiums paid. There will be an additional charge of 0.50% p.a. and 0.10% p.a towards the investment guarantees for Easy Retirement Balanced Fund and Easy Retirement Secure Fund respectively, which will be adjusted from the NAV on daily basis.

²Tax benefits are subject to conditions of section 80C, 80CCC, 80D, 10(10D) and 10(10A) of the Income Tax Act, 1961 and are subject to amendments made thereto from time to time.

Goods & Services Tax and Cesses, if any, will be charged extra as per prevailing rates.

“This feature is only available under ICICI Pru iProtect Smart – Life Option

ICICI Prudential Life Insurance Company Limited. IRDAI Regn No. 105. CIN: L66010MH2000PLC127837

© 2016, ICICI Prudential Life Insurance Company Limited. Registered Address:- ICICI PruLife Towers, 1089, Appasaheb Marathe Marg, Prabhadevi, Mumbai-400025. Insurance is the subject matter of the solicitation. For more details on the risk factors, terms and conditions, please read the sales brochure carefully before concluding a sale. Call us on 1-860-266-7766 (10am-7pm, Monday to Saturday, except national holidays and valid only for calls made from India) and on 91-22-6193-0777 (Valid for calls made from outside India) (10am-7pm (IST), Monday to Saturday, except national holidays). Tax benefits under the policy are subject to conditions u/s 80D of the Income Tax Act, 1961. Goods & Services Tax and Cesses, if any, will be charged extra as per prevailing rates. Tax laws are subject to amendments from time to time. Advt. No.: W/II/0071/2017-18

ICICI Bank Limited ("ICICI Bank") with registered office at ICICI Bank Tower, Near Chakli Circle, Old Padra Road, Vadodara, 390 007, Gujarat (CIN: L65190GJ1994PLC021012) is a corporate agent (Composite, IRDAI Regn No. : CA0112 valid till 31/03/2022) of ICICI Prudential Life Insurance Company Limited ("ICICI Prulife"). Insurance is underwritten by ICICI Prulife. Purchase by ICICI Bank’s customer of any insurance products is purely voluntary, and is not linked to availment of any other facility from ICICI Bank.

The products, services and benefits referred to herein are subject to terms and conditions governing them as specified by ICICI Prulife from time to time. ICICI Bank shall not be liable or responsible for any loss resulting from insurance company's products/ services.

BEWARE OF SPURIOUS / FRAUD PHONE CALLS !

• IRDAI is not involved in activities like selling insurance policies, announcing bonus or investment of premiums.
• Public receiving such phone calls are requested to lodge a police complaint.

Life insurance policies last till the end of the policy term chosen by you at the time of purchase or till a claim is paid as per the terms and conditions of the policy.

Life insurance is a payment made to your family in case of your death during the policy term or a payment made to you on surviving the policy term. In return for this payment, you make periodic fixed payments to the life insurance company.

Yes, life insurance policy is necessary for the financial well-being of your loved ones in your absence.

The cost of a life insurance policy depends on certain factors of the policyholder like age, gender, amount of life insurance cover, policy term, premium payment term etc.

Life Insurance policies are designed to help you in achieving and protecting your various financial goals.

Savings Growth: In your early years of working, some life insurance plans can be a useful way to save and invest your money. For instance, Unit Linked Insurance Plans (ULIPs) allow you to invest in equity and debt markets. Under current tax laws (which are subject to future amendment), you also get tax deductions for investment in life insurance policies and on the maturity amounts of such policies. Family Support: If you have a spouse and kids, the need to build a safety net for them becomes important. You would want to protect them from financial hardship in case of your untimely demise.

Debt: We often take large loans in our working life, especially when it comes to buying a house. An untimely death while the loan is still due can have grave economic consequences for our families. In such a scenario, life insurance money can be used to pay off the loan.

Illness Protection: As we grow older and with the changing lifestyle, life insurance policies which cover critical illnesses become important. Some life insurance policies offer you features that cover you from severe ailments like heart attacks and cancer. Buying these types of policies can protect you from life threatening illnesses.

Every policyholder is provided a grace period of up to 30 days. However, if the premiums are still not paid within the grace period, the policy will lapse and the benefits will cease to be active. You are nevertheless provided a period of up to 2 years from the due date of the last premium to come back and reinstate your policy.

No. Tax benefits can be availed of only if you pay premiums regularly.

As your life insurance policy matures at the end of the policy term, all the maturity benefits of the policy, if any, will be paid off and the cover will cease. Thus, there is no need to pay further premiums.

You receive a tax free maturity benefit (the payout you receive when your policy ends) subject to conditions of Section 10 (10D) of the Income Tax Act (1961).^

^Tax benefits under the policy are subject to conditions under Sections 80C, 80D, 80CCC, 80CCE, 10(10D), 10(10A) and other provisions of the Income Tax Act, 1961. Goods and Services Tax (GST) and Cesses, if any, will be charged extra as per prevailing rates. Tax laws are subject to amendments made thereto from time to time. Please consult your tax advisor for details, before acting on the above.

Life insurance financially covers the life of the policyholder. The benefits of life insurance can be used to pay off debts, mortgages or daily expenses in the policyholder’s absence.