ICICI Prudential Term Insurance Plans

ICICI Prudential Life Insurance, one of the leading insurance companies in India, began its operations in the financial year 2001. The company offers a wide range of term insurance plans that are specifically designed to suit the varied needs of its customers. These plans provide a death benefit payout to the nominee in case of the policyholder’s unfortunate death during the policy term. Some important features of the ICICI Term plan are the option to increase life cover, cover against 34 critical illnesses, permanent disability benefits, and tax savings.

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ICICI Prudential Term Insurance Plans

ICICI Prudential Life Insurance, one of the leading insurance companies in India, began its operations in the financial year 2001. The company offers a wide range of term insurance plans that are specifically designed to suit the varied needs of its customers. These plans provide a death benefit payout to the nominee in case of the policyholder’s unfortunate death during the policy term. Some important features of the ICICI Term plan are the option to increase life cover, cover against 34 critical illnesses, permanent disability benefits, and tax savings.

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Why Buy ICICI Term Insurance?

ICICI Prudential term plans provide financial security to your loved ones by paying out the death benefit in your absence. Your family can use the benefit amount to pay off any remaining loans or take care of their financial obligations. These plans are not only affordable but also offer a lifetime discount of 15% for its female customers and an additional discount of 15% on the 1st year premiums for salaried women. Here is the list of reasons why buying ICICI term plans is important:

Note: Know more about what is term life insurance first before reading this article.

Buy online & get a 5% discount ‘throughout your policy term
In-Built Terminal Illness Benefit (Free)
High claim settlement ratio of 97.9%
In-Built Permanent Disability Waiver (Free)
Covers death due to any pandemic such as COVID-19
Cover against 34 Critical Illnesses - Paid Optional benefit
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ICICI Term Insurance Plans

ICICI Prudential Life Insurance offers various types of ICICI term insurance plans to fit the needs of individuals from all walks of life. Let us take a look at some of the plans offered by ICICI term insurance:

Critical Illnesses Covered Under ICICI Term Insurance

ICICI Prudential Term Insurance provides the option of including a critical illness rider in the base plan. This optional add-on covers you against the treatment costs of the below-mentioned illnesses in your plan. The most common life-threatening ailments are cancer, stroke, heart attack, and kidney failure. Along with that, some ICICI term plans cover women-specific illnesses like ovarian, cervical, and breast cancer as well. When you buy term plan with a critical illness rider, you can claim the sum assured on the diagnosis of the listed critical illness. This money can be used to pay hospital bills, doctor’s fees, ambulance charges, and medical costs. 

Below is a list of critical illnesses covered in the ICICI term insurance plan:

Cancer of specified severityAngioplastyMyocardial Infarction (First Heart Attack - of specified severity)
Heart Valve Surgery (Open Heart Replacement or repair of Heart Valves)Surgery to aorta Heart and Artery BenefitCardiomyopathy
Primary (Idiopathic) Pulmonary hypertensionOpen Chest CABGBlindness
End stage Lung Failure (Chronic Lung Disease)End stage Liver Failure (Chronic Liver disease)Kidney Failure Requiring Regular Dialysis
Major Organ/ Bone Marrow TransplantApallic SyndromeBenign Brain Tumour
Brain SurgeryComa of specified SeverityMajor Head Trauma
Permanent Paralysis of LimbsStroke resulting in permanent symptomsAlzheimer's Disease
Motor Neurone Disease with Permanent SymptomsMultiple Sclerosis with Persisting SymptomsMuscular Dystrophy
Parkinson’s DiseasePoliomyelitisLoss of Independent Existence
Loss of LimbsDeafnessLoss of Speech
Medullary Cystic DiseaseSystematic lupus Eryth with Renal InvolvementThird degree Burns (Major Burns)
Aplastic Anaemia
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ICICI Prudential Term Insurance Riders

Term insurance plans offer a variety of riders that are either in-built or can be added to enhance the policy’s base coverage. For example, ICICI Term plans offer Terminal Illness and WOP (Waiver of Premium) as in-built benefits while the remaining riders can be added to the base plan at nominal premiums.

Here is the complete list of riders offered by ICICI term insurance plans:

Waiver of premium covered (free)100 % Payout on terminal Illeness (free)
Extra payout on accidental death (paid)Cover against 34 Critical Illenesses (paid)
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How Much Term Insurance Cover Do I Need?

Choosing the right life cover is important as it is the amount your family will receive in the event of your unfortunate demise. Thus the sum assured amount should be enough to cover your family’s financial needs in your absence. You can use the Human Life Value Calculator to estimate the appropriate life cover for your family. By a general thumb rule, you should buy term plan with a sum assured at least 10 to 20 times your current annual income. 

For eg: Suppose you are a 30-year-old with an annual income of 10 LPA, then your ideal life cover would be 2.5 Crores. This amount can help your family pay off any outstanding loans and beat inflation in the long run.

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Choose the Right Sum-Assured Option

One of the important factors while choosing the ICICI term insurance plan for the financial protection of the family is deciding with the right sum assured. Following is a list of term plans of different sum assured option.

ICICI Prudential Life1 Crore
Term Insurance
ICICI Prudential Life2 Crore
Term Insurance
ICICI Prudential Life5 Crore
Term Insurance
ICICI Prudential Life75 Lac
Term Insurance
ICICI Prudential Life70 Lac
Term Insurance
ICICI Prudential Life50 Lac
Term Insurance

Term Insurance Premium Calculator

Our term life insurance calculator in india can help you calculate the following:

Know more about ICICI Prudential Term Insurance Plans

Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by any insurer. This list of plans listed here comprise of insurance products offered by all the insurance partners of Policybazaar. For a complete list of insurers in India refer to the Insurance Regulatory and Development Authority of India website, www.irdai.gov.in

Types of term plans

Policybazaar offers the following types of term insurance plans to fit the different needs of Individuals from all walks of life.

Choose Term Insurance Plan as per you need

Plans starting from @ ₹473/Month*
Term Insurance
1 Crore Term Insurance
Term Insurance
2 Crore Term Insurance
Term Insurance
4 Crore Term Insurance
Term Insurance
5 Crore Term Insurance
Term Insurance
6 Crore Term Insurance
Term Insurance
7 Crore Term Insurance
Term Insurance
7.5 Crore Term Insurance
Term Insurance
8 Crore Term Insurance
Term Insurance
9 Crore Term Insurance
Term Insurance
15 Crore Term Insurance
Term Insurance
20 Crore Term Insurance
Term Insurance
25 Crore Term Insurance
Term Insurance
30 Crore Term Insurance
Term Insurance
15 Lakh Term Insurance
Term Insurance
60 Lakh Term Insurance
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ICICI Prudential Term Insurance Plans Reviews & Ratings

4.5 / 5 (Based on 103 Reviews)
(Showing Newest 10 reviews)
Shri
Delhi, July 22, 2024
Concise Information
I appreciated the clear, concise information and the ability to compare multiple policies.
Ravi
Uttar Pradesh, July 22, 2024
Thanks PB
Found the perfect policy for my needs without any hassle, Thanks PB
Samir
Maharashtra, July 22, 2024
Quick Response
Excellent service and quick response from customer support.
Pramod
Uttar Pradesh, July 22, 2024
Informed Decision
The transparency and the detailed information of the pb website which made it easy to make an informed decision.
Mukesh
Rajasthan, July 22, 2024
Policy Buying Experience
The entire purchase process was seamless, and I received my policy documents almost immediately.
Surendra
Andhra Pradesh, July 22, 2024
Good Filters
On the website the filters allowed me to narrow down my options quickly, and I found a policy that offered comprehensive coverage at a reasonable price.
Aman
Madhya Pradesh, July 22, 2024
Easy and User Friendly
Easy and user friendly platform on Policybazaar helped me pick Tata AIA for its comprehensive coverage.
Bhagwati
Gujarat, July 22, 2024
Comprehensive and Detailed
Comprehensive and detailed information helped me choose an ICICI life term plan for my family at really low cost.
Dipendra
Maharashtra, July 22, 2024
Simple and Detailed
Simple and detailed process with Policybazaar helped me choose Aegon with confidence.
Surender
West Bengal, July 22, 2024
Good and Detailed
Good and detailed options on Policybazaar helped me select Max Life with confidence.
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