ICICI Prudential Life Insurance Income Replacement in Goa

ICICI Prudential Life Insurance Income Replacement Plan is a customisable term policy that provides ample financial support to your family in your absence. It offers monthly payments to your family after your untimely demise.

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It is the perfect financial protection for the families in Goa. Learn about the benefits of the ICICI Prudential Life Insurance Income Replacement Plan.

What is the ICICI Prudential Life Insurance Income Replacement Plan?

The ICICI Prudential Life Insurance Income Replacement Plan is a term policy that can be tailored to your requirements. The death benefit under this policy ensures that your family receives fixed payments after your untimely demise. Unlike other traditional term policies where your family gets a lump sum amount, the payments under this policy are received monthly, providing financial stability to your family in your absence.

Suppose you earn ₹45,000 each month. Then the benefit of this income replacement plan is that your family will receive ₹45,000 or an equivalent amount every month.

Why is the ICICI Prudential Life Insurance Income Replacement Plan Important for Families in Goa?

On average, a family in Goa has a monthly income of ₹41,054. The loss of this income due to the demise of the earning member can affect the family's financial stability. Managing everyday expenses can also become a challenge. An income replacement plan helps maintain a steady flow of income even when you are not around. Your family will continue to live comfortably without financial problems. It will become easier for them to pay for rent, food, and other bills.

The ICICI Prudential Life Insurance Income Replacement plan secures your family’s finances. Compared to traditional term policies, income replacement policies are a better choice for people in Goa.

Term Plans

₹1
Crore

Life Cover

@ Starting from ₹ 13/day⁺

₹50
LAKH

Life Cover

@ Starting from ₹ 8/day⁺

₹75
LAKH

Life Cover

@ Starting from ₹ 12/day⁺

What are the Key Features of ICICI Prudential Life Insurance Income Replacement Plan in Goa?

Pocket-friendly premiums: In comparison to other policies, this term or life insurance policy provides high coverage with premiums that are easy on your pocket. With a ₹485 monthly premium, you can get a coverage of ₹1 crore.
Fixed Income Amount: You and your family can choose the fixed monthly income they receive.
Fixed Payments: You can decide the period for which your family will continue to receive the monthly income.
Flexible Policy Term: You can select the number of years for the policy to remain active. Depending on your requirements, the term can be 10 to 30 years.
Tax Benefits: The ICICI Prudential Life Insurance Income Replacement Plan also offers term insurance tax benefits. Under section 80C of the Income Tax Act, you can claim deductions for the premium.

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How Does the ICICI Prudential Life Insurance Income Replacement Plan in Goa Work?

Select Your Coverage and Monthly Income: You can choose the coverage amount and the respective monthly income amount that your family shall receive.
Pay the Premium: Timely premium payments are necessary to keep the policy active and to avoid lapse.
Death Benefit: Under the death benefit, your family will receive a fixed monthly payment for a predetermined time only in the case of unexpected demise.
End of Policy Term: No compensation is made if the claim is not made during the policy period.

What are the Benefits of Choosing an ICICI Prudential Life Insurance Income Replacement Plan in Goa?

Long-term Financial Stability: Monthly payments can provide your family with financial stability, as they are fixed and consistent. They can help provide financial security for an extended period.
Cost-effective Premiums: The premium is very affordable and offers ample coverage to the people in Goa.
Securing Your Family’s Finances: Fixed and regular payments help your family maintain a proper standard of living. Your family’s finances will not be affected, making them secure for a long time.
Peace of Mind: Knowing your family’s future finances are secured even in your absence gives you peace of mind.
Tax Savings: In addition to providing financial security for your family, you can receive tax benefits by claiming the premiums as tax deductions.

How to Buy the ICICI Prudential Life Insurance Income Replacement in Goa?

Go to Policybazar.com and select the term insurance section.
Enter your name, gender and contact number.
Complete the profiling by selecting smoking habits, education level, occupation, and yearly income.
Select the best income replacement plan that fits your needs.
Finish the payment process.

You can also manage your account using the ICICI Prudential Life Insurance login portal. For further assistance, you can contact ICICI Prudential Life Insurance customer care.

Final Thoughts

To ensure your family’s financial well-being in your absence, the ICICI Prudential Life Insurance Income Replacement Plan greatly benefits people in Goa. With high coverage at a low premium, your family will receive fixed monthly payments. Moreover, you also get tax benefits as an added benefit. You can rest assured knowing your family’s future is safe and secure.

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˜The insurers/plans mentioned are arranged in order of highest to lowest Sum Assured(SA) offered by Policybazaar’s insurer partners offering term insurance plans on our platform, as per ‘first year premium of life insurers as at 31.03.2025 report’ published by IRDAI.

Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by any insurer. For complete list of insurers in India refer to the IRDAI website www.irdai.gov.in

Rs. 400/month is starting price for a 1 crore term life insurance for an 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 30 years of age, rounded off to nearest 10.

Rs. 400/month (Rs.13/day) is starting price for a 1 crore term life insurance for an 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 30 years of age.

+Rs. 230 is starting price for a 50 lakhs term life insurance for an 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 30 years of age, rounded off to nearest 10.

+Rs. 8/day is starting price for a 50 lakhs term life insurance for an 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 30 years of age, rounded off to nearest 10.

+Rs. 12/day is starting price for a 75 lakhs term life insurance for an 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 30 years of age, rounded off to nearest 10.

+Rs. 497/month is starting price for a 1.5 crore term life insurance for an 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 30 years of age.

+Rs. 487/month is starting price for a 2 crore term life insurance for an 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 30 years of age.

+Rs. 626/month is starting price for a 3 crore term life insurance for an 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 30 years of age.

+Rs. 905/month is starting price for a 5 crore term life insurance for an 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 30 years of age.

+Rs. ₹361/month is the starting price for a ₹1 crore loan cover with an 8% interest rate for an 18-year-old male, non-smoker, with no pre-existing diseases, loan tenure up to 20 years, rounded off to the nearest 10

+Rs. 1,267/month is starting price for a 7 crore term life insurance for an 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 30 years of age.

*The full refund of premium is available on availing the one-time option of refund of premium. Total premium paid for policy (paid for add-ons) will be the special exit value, payable on availing the one-time option of refund of premium if you wish to completely exit the policy.

+Rs. 447/month is starting price for a 1 crore term life insurance for an (NRI) 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 30 years of age.

+Rs.679/month is starting price for a 2 crore term life insurance for an (NRI) 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 30 years of age.

+Rs. 910/month is starting price for a 3 crore term life insurance for an (NRI) 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 30 years of age.

+Rs. 1,374/month is starting price for a 5 crore term life insurance for an (NRI) 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 30 years of age.

+Rs. 1,924month is starting price for a 7 crore term life insurance for an (NRI) 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 30 years of age.

Women

+Rs. 400/month is Starting price for a 1 crore term life insurance for an 18 year-old Female, non-smoker, with no pre-existing diseases, cover upto 30 years of age, rounded off to nearest 10.

Rs. 461/month is the starting price for a 1 crore term life insurance for an 24 year-old female, non-smoker, with no pre-existing diseases, cover upto 54 years of age.

1,642/month is the starting price for a 1 crore term life insurance for an 44 year-old female, non-smoker, with no pre-existing diseases, cover upto 74 years of age.

Prices offered by the insurer are as per the approved insurance plans | #All savings and online discounts are provided by insurers as per IRDAI approved insurance plans | Standard Terms and Conditions Apply | **Tax Benefits are subject to changes in tax laws.| Policybazaar Insurance Brokers Private Limited

We will respond in the first instance within 30 minutes of the customers contacting us. 30-minute claim support service is for the purpose of giving reasonable assistance to the policyholder in pursuance of the claim. Settlement of claim (including cashless claim) is the responsibility of the insurer as per policy terms and conditions. The 30-minute claim support is subject to our operations not being impacted by a system failure or force majeure event or for reasons beyond our control. For further details, 24x7 Claims Support Helpline can be reached out at 1800-258-5881

For more details on risk factors, terms and conditions, please read the sales brochure carefully before concluding a sale

Policybazaar Insurance Brokers Private Limited | CIN: U74999HR2014PTC053454 | Registered Office - Plot No.119, Sector - 44, Gurgaon, Haryana – 122001 | Registration No. 742, Valid till 09/06/2027, License category- Composite Broker Visitors are hereby informed that their information submitted on the website may be shared with insurers. Product information is authentic and solely based on the information received from the insurers.

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