ICICI Prudential i-care

Product Description:

This product (i-care) is the second online term insurance offering from ICICI Prudential to the Indian market preceded by its first and very popular online term product i-protect. It is a pure term insurance plan covering the Insured and their dependants against any unforeseen eventualities (death). ICICI prudential has launched two variants of their plan – Option 1 & Option 2. The i-care option 1 offers death benefit equivalent of the Sum Assured upon the death of the Insured life within the policy term while Option 2 offers an additional Accidental Death cover (max upto 50 lacs) along with the regular Sum Assured. The Insured is not eligible for any survival benefits under this plan. Any Indian citizen between 18 yrs & 65 yrs can buy this plan, subject to acceptance of risk by the Insurer. The maximum maturity age allowed is 75 yrs.

Know more about your Insurance

Key features: Availability, Benefits and Exclusions

Minimum Age at Entry : 18 years
Maximum Age at Entry : 65 years
Maximum Age at Renewal : 75 years
Minimum Sum Assured : Rs 10 lacs
Maximum Sum Assured : Rs 1.5 Cr
 
Minimum Policy Term : 5 years
Maximum Policy Term : 30 years
Premium Pay Term : = policy term
Premium Payment Frequency : Yearly
Survival Benefits : NIL


Product pricing (Incl. S/Tax)   (Rs)

   25 yr old male   35 yr old male   45 yr old male 
Term  SA
10 lacs
SA
25 lacs
SA
50 lacs
SA
1 Cr
SA
10 lacs
SA
25 lacs
SA
50 lacs
SA
1 Cr
SA
10 lacs
SA
25 lacs
SA
50 lacs
SA
1 Cr
5 yrs   3998 6397 11251   4880 7942 14008 5008 9679 16655 30553
10 yrs   3998 6462 11251   4880 7942 14008 5052 10037 17317 31987
15 yrs   3998 6397 11251   4991 8272 14890 5537 11113 19137 35296
20 yrs   3998 6397 11251   5570 9320 16766 6265 12601 21729 39929
25 yrs   3998 6397 11251 3342 6314 10589 19192 7136 14394 24762 45444
30 yrs   3998 6563 11692 3783 7197 12078 21839 8140 16408 28126 51620


How to ensure a smooth & hassle-free claim experience?

  1. Fill your proposal form very carefully to ensure accuracy & correctness of all relevant information like Name, DOB, Health status, policy details, contact information, nominee details, etc. Also cross-check the policy document for accuracy & correctness of the information provided. Immediately approach the Insurer, should you find any discrepancy in the data.

  2. Disclose all material facts clearly and be truthful about your health and lifestyle attributes (tobacco/alcohol consumption) related information. An affirmative declaration doesn’t mean that your policy will be rejected.

  3. Ensure that your nominee is well-informed about the status of your policy. Keep the policy documents in a safe location and ensure that your nominee knows where the policy bond is stored.

  4. Pay your premiums regularly & in time to keep your policy in force. Follow simple procedures like setting premium due date reminders for yourself by registering with www.bimadirect.com and give your loved ones a stress-free future.

  5. Intimate your Insurer about death & register your claim. ICICI Prudential offers online intimation facility on its website www.iciciprulife.com but the claim is formally registered only once the written intimation is received at their Mumbai Head office along with the required documents (please refer Insurer’s website for a list of all required documents) . For any claim assistance, please get in touch with the Insurer at 1800 103 6363. You can also intimate your Life claim by sending ICLAIM<space>8 digit policy no to 56767

Some Key Statistics for ICICI Prudential

ITEM   NUMBER
Claims Settled Ratio : To be Announced soon
Claims Rejected Ratio : To be Announced soon
Complaints Resolved Ratio : To be Announced soon


How to decide your ideal Life cover?

Your insurance cover should be enough to provide for your family/dependants’ monthly expenses without upsetting any of their lifestyle related needs.

Make sure you are choosing enough Insurance coverage so as to cover all your outstanding liabilities/debt, etc in absence of your earning hand.

Your insurance cover should be able to provide for & meet with all the foreseeable future needs.

Disclaimer: This is only an illustrative document to serve as a quick guide for aide in decision making.


Information Source: ICICI prudential website www.iciciprulife.com as on 14th Nov’ 2011
IRDAI annual report’2010