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. Also, you can get optional coverage for accidental death or critical illnesses. You can easily get high cover at low premium rates. Here is the list of reasons why buying ICICI term plans is important:

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. 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 best 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 that is best for you.

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
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.

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ICICI Prudential Term Insurance Plans Reviews & Ratings

4.2 / 5 (Based on 44 Reviews)
(Showing Newest 10 reviews)
Roshan
Barabanki, March 02, 2021
Check premium online
I checked the premium online when I bought the term insurance policy. I visited to policybazaar website for the same. And I got the icici prudential plan very affordable as per my budget. It has benefits and I really like them.
Nikita
Ahmednagar, February 19, 2021
Claim is fast
I choose policybazaar to buy my term insurance policy. They suggested me to buy a term plan of icici prudential. It is a nice plan which I have come through. I am thankful to whole team and would love to recommend this to everyone.
Ankit
Chandigarh, January 23, 2019
Excellent
One of my close friends had been using ICICI term insurance since last 8 years. He has married 2 years ago and due to unfortunate circumstances involved, he was severely injured in an accident. Thankfully, ICICI team was really considerate and helpful while helping his wife settling the claim. The claim settlement was fast and timely. Following his steps, I have recently bought ICICI Pru iProtect Smart. It is safe to say that investing in ICICI term insurance is definitely worth every penny experience. It has worked as a great deal for me. The staff was really good and was prompt with their service.
Rijool
Garu, September 22, 2016
Good
My term insurance policy is good one which i bought from icici prudential life insurance. The premium is low and paybacks are high. Coverage is about 85% and the claiming is very simple by the help of executives which working 24X7.
Jagdish
Jammu, July 20, 2016
Coverage Is High
ICICI term insurance plan of mine is very beneficial for me and my family. The service of your staff is so quick and claiming become due due to that. The updates of the policy plan is mailed to me regularly on my email address.
Sumeet
Haridwar, July 20, 2016
Term plan
The icici term insurance is on of the best policy among all. Premium of the plan is low and returns are high. Service is fast and behaviour of the staff is very well. Good investment which reduces taxes too. Payments and premiums are done on online portal website of the company.
Vikram
Gurgaon, February 14, 2016
superb plan...
My life insurance term plan is with prudential. The premium amount is Rs.4700 and return is Rs.25 lakh. Policy coverage is also nice. Service is really good provided by executives and agents. Nice policy.
Plan Name: iProtect Smart
Agent Code: BPW00250
Sudhakar
Ghaziabad, February 14, 2016
above average
I have purchase my life insurance from prudential. The services are average. I do not get any kind of alerts for the payments or the policy thought mail or text. The payment options are convenient as I can pay the payment thourgh my ATM cards. The payment is on a yearly basis.
Plan Name: iProtect Smart
Agent Code: BPW01888
Chander
Delhi, February 14, 2016
"Bad service"
I do have a life insurance with icici. The policy has good claiming amount and policy coverage is also high but the service is very slow. The work takes days or weeks to complete. Please speed up your services.
Plan Name: iProtect Smart
Agent Code: BPW00250
ANAND
Jaipur, February 14, 2016
Life insurance plan
I buy life insurance policy with icici, basically i took this plan for the savings purposes. Premium payment is made by cheque and the executive agent is coming to my place to collect this amount. As this policy is endowment policy, I need to pay on yearly basis for 7 years. And the policy holder will get good returns after 13 years.
Plan Name: iProtect Smart
Agent Code: BPW00130
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