ICICI Term Insurance Online Payment

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

Let us see the various methods through which you can make your ICICI Prudential Term Insurance payment online:

Methods of ICICI Term insurance Online Payment

ICICI term insurance offers a wide range of online payment options from which you can choose the most convenient for you. You can opt for any of these options for an easy and effortless premium-paying experience.

1. Policybazaar

   You can also make online payments for your ICICI term insurance through Policybazaar. All you need to do is to follow the steps below to make an online premium payment.

   • Step 1: Go to Policybazaar’s term insurance plan page

   • Step 2: Fill in your details like qualification, annual income, smoking habits, and occupation

   • Step 3: Select the ICICI term insurance plan of your choice

   • Step 4: Enter the required information and proceed to pay 

2. Infinity

   You can easily pay using Infinity by linking your ICICI Bank account to the ICICI term insurance plan. This facility will allow you to check fund value, make premium payments, and make e-transactions straight from the bank account itself.

3. Net Banking

   ICICI has a list of banks available through which you can make your online premium payments easily and conveniently.

4. UPI (Unified Payments Interface)

   You can now make quick premium payments online using UPI by following the below-mentioned steps.

   • Step 1: Select UPI as the premium payment option

   • Step 2: Enter the valid VPA address

   • Step 3: Go to the UPI app and approve to pay

5. Credit and Debit Cards

   You can also enter your credit or debit card details to make online payments for your ICICI term plan. Credit cards can be Visa, MasterCard, Maestro, Diners, Discover, and American Express, whereas debit cards can be Visa, MasterCard, and Rupay only.

6. NEFT/RTGS

   You can make NEFT/RTGS transfers to pay your premiums online. You can do this by logging in to your net banking account and opting for NEFT/RTGS. You would be required to fill in the following details before making online payments:

   • Beneficiary Name: ICICI Prudential Life Insurance Company Limited

   • Beneficiary Bank: ICICI Bank

   • Beneficiary IFSC code: ICIC0000104

   • Bank Branch: CMS Branch, Mumbai

   • Bank Account Number: IPRU(your application/policy number)

7. Digital Wallets

   Digital wallets like Paytm, PhonePe, Google Pay, Amazon Pay, and more can also be used to pay premiums online. All you need to do is follow these steps

   • Step 1: Log into the app and go to the insurance section

   • Step 2: Select the ‘ICICI Prudential Insurance’ icon from the insurer’s list

   • Step 3: Enter your policy details and date of birth to log into your customer portal

   • Step 4: Fill in your premium amount and proceed to pay

Benefits of ICICI Term Insurance Online Payment

Here is a list of all the term insurance benefits you can get from paying your premiums online:

• Convenient: Since the entire process is online, you can pay your premiums from any place, anytime, without worrying about the working and non-working days of the company. The customer portal is available 24x7 and can be accessed from anywhere.

• Time Efficient: The online customer portal makes the process, time, and energy efficient as you can make online payments with ease in just a few clicks. 

• Automatic Premium Payment: ICICI offers the option of opting for automatic premium payments through which you won’t have to worry about remembering to pay the premiums and keeping the plan active. You can enable your credit or debit card, UPI, net banking, and more to auto-deduct the premium from your bank account.

• Different payout options: Policybazaar gives you the benefit of exploring the term insurance payout options offered by different insurers while purchasing the policy online. ICICI term insurance offers 3 different payout options, lump sum payout, lump sum + fixed monthly income, and lump sum + increasing monthly income. 

• No Additional Charges: The online premium payment is free of service or any other additional charges, which makes the online payment feature much more preferable.

• Secure Transaction: ICICI’s online payment gateway offers maximum security and protection as the transactions are contained between you and the insurer itself.

Points to Remember Before Making ICICI Term Insurance - Online Payment

• You can choose from any of the above-mentioned premium payment options to pay your premiums online.

• Make sure to provide accurate policy details like policy number, phone number, and email ID.

• You can make payments online for active policies and download a receipt of all the payments.

• You can also use the ICICI term insurance calculator to calculate the amount you need to pay for premiums online. 

• ICICI term insurance also provides a 30-day grace period during which you can pay your premiums if you were unable to pay them on time.

Wrapping It Up!

ICICI Term Insurance offers these various payment methods to make the premium payment experience quick and easy. With these ICICI Prudential term insurance online payment options, you can make online payments from the comfort of your home, in just a few clicks.

Note: Check all the best term insurance plan in India.