ICICI Pru iCare Plan is an online term insurance plan which offers high insurance cover at affordable premiums. This is a pure risk protection plan offering instant life insurance cover and is available for online purchase without any agent intervention.
iCare Plan, like all other Pure Term Plans, pays benefit on death of the policyholder. If the life insured dies within the policy term, then his/her nominee gets the agreed sum assured. ICICI Pru iCare has 2 options – Option 1 where death benefit is equal to Sum Assured and Option 2 which comes with an Accidental Death Benefit rider.
ICICI Prudential iCare Term plan has 2 options –
Option 1: Offers pure term insurance cover with no riders and death benefit is equal to sum assured
Option 2: Offers basic sum assured along with Accidental Death Benefit which is either equal to the base sum assured or Rs.50,00,000, (which is lower) is payable only in case of death due to accident
|
Minimum |
Maximum |
Sum Assured (in Rs.) |
10,00,000 |
Age 18-50 yrs = 1.5 crore |
Policy Term (in years) |
5 |
30 |
Premium Payment Term (in years) |
Single |
Equal to policy term |
Entry Age of Policyholder |
18 |
65 |
Age at Maturity |
- |
75 |
Premium (in Rs.) |
3,000 |
No Limit |
Payment modes |
Single and Yearly |
The below illustration is for a healthy Male (non-tobacco user) opting for a Sum Assured = Rs. 50 lakhs and Policy Term = 25 years
Riders – The policy has 2 variants. Option 1 is a pure term plan and has no additional riders attached. iCare Option 2 has an inbuilt Accidental Death Benefit.
Riders |
Available |
Accidental Death Benefit |
Inbuilt in Option 2 |
Accidental Dismemberment Benefit |
x |
Waiver of Premium |
x |
Critical illness |
x |
Family Income Benefit |
x |
Accelerated Sum Assured |
x |
Hospital Cash Benefit |
x |