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After the runaway success of its first online term insurance plan iProtect, ICICI Prudential introduces yet another online new term insurance plan ‘iCare’.
ICICI Prudential was the 2nd life insurance company to launch low-cost online term plan in the Indian market and in a year of launch, ICICI Pru iProtect became one of the top-selling online life plans in the country. One of the unique features of iProtect was the choice of attaching an Accidental Death Benefit rider with the base plan and sources suggest that the new online term plan iCare will also carry this feature of a rider as it has helped in boosting the overall sales of the plan.
Since its launch in July 2010, our estimate is that ICICI Pru iProtect has been receiving more than 6,000 applications every month from all over the country. This is at a time when there are more than seven companies promoting their low-cost and affordable online term plans in the market. The company is expecting to increase their sales and continue to hold the maximum share in the online term plan market with the launch of iCare.
Click here to read detailed review of ICICI Pru ICare Term Plan
Successful acceptance of iProtect and in-depth customer insight gathered by ICICI Prudential has helped the company to improvise on their online product offering and come out with a new online term plan with better features and more benefits. A key point to observe is that the online application process on the website of ICICI Prudential makes it an easy and hassle-free experience for the customers to transact.