What is life insurance?
Life insurance is a tool that can be defined as a contract between a policyholder (in this case, you) and an insurer (in this case, ICICI Prudential Life Insurance). You pay premiums for a decided term and in return, we offer you a lump sum amount at the end of the term (Maturity Benefit) or to your loved ones in case of an unfortunate event (Life Cover).
Why do you need Term Life Insurance?
It is important that you protect your family financially against the uncertainties of life & health
Burden of EMIs/unpaid liabilities is not passed on to your family
Financial protection against major illnesses# like cancer of specified severity, heart attack, etc
An affordable way to get a life cover. For example, you can get a life cover of ₹50 lakhs at just ₹526* per month
Why do you need a retirement plan?
Financial independence post retirement: Earlier, people could depend on their children to take care of them post retirement. However, as a modern individual, you can maintain your financial independence post retirement also
Inflation: Inflation is an important factor. Post retirement, you need a regular income to ensure that your expenses can be met.
Why choose ICICI Bank?
Our IRDAI certified officers will offer immediate assistance
We are a corporate agent of ICICI Prudential Life Insurance Company – ICICI Prudential has a claim settlement ratio of 96.2%^ ^As per IRDAI Annual Report 2015-16
Managing your iProtect Smart policy is very easy through your ICICI Bank Internet Banking Account
We assure you of services across all touch points
We offer quick and convenient claim processing
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 ₹6,320 (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 ApplyGuaranteed 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 is a corporate agent (Composite, IRDAI Regn No. : CA0112 valid till 31/03/2019) of ICICI Prudential Life Insurance Company Limited ("ICICI Prulife"). Insurance is underwritten by ICICI Prulife. ICICI Bank's customer's participation in the policy is entirely voluntary.
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 PHONE CALLS & FICTITIOUS/FRAUDULENT OFFERS
IRDAI clarifies to public that
- IRDAI or its officials do not involve in activities like sale of any kind of insurance or financial products nor invest premiums.
- IRDAI does not announce any bonus.
- Public receiving such phone calls are requested to lodge a police complaint, along with details of phone call, number.