India's 1st IRDAI Approved Insurance Web Aggregator

ICICI Prudential Life Guard - Single Premium

  •  views
  •  views
This plan has been withdrawn by the insurance company and is no longer available for sale.

Lifeguard Single Premium Plan from ICICI Prudential

ICICI Prudential Lifeguard Level Term Single Premium Plan of ICICI Prudential is a single premium variant of pure term plan with level cover throughout the policy tenure. This is also a vanilla term plan like Lifeguard Level Premium Term Plan where the nominee would be paid out the Sum Assured if the life insured dies within the policy term but if he doesn’t then there is nothing payable to him on maturity. Only in this case, the premium needs to be paid upfront instead of every year payment.

 

Key Features of ICICI Prudential Lifeguard Single Premium Plan

  • It is a pure Term Insurance Policy with Death Benefit only
  • Premium needs to be paid upfront only
  • Rider benefits are also available

COMPARE THIS PLAN WITH OTHER TERM PLANS
    Yes
    No

    Benefits you get from ICICI Prudential Lifeguard Single Premium Plan

    • Death Benefit – Like a simple term plan, death benefit is payable if life insured expires within the policy tenure.
    • Maturity Benefit – Nothing is payable on maturity.
    • Income Tax Benefit - Life Insurance premiums paid up to Rs. 1,00,000 are allowed as a deduction from the taxable income each year under section 80C

    HAVE ANY DOUBTS THAT NEED TO BE CLARIFIED?

    Eligibility conditions in ICICI Prudential Lifeguard Single Premium Plan

     

    Minimum

    Maximum

    Sum Assured (in Rs.)

    2,50,000

    10,00,000

    Policy Term (in years)

    3

    15

    Premium Payment Term (in years)

    Single

    Single

    Entry Age of Policyholder

    18

    55

    Age at Maturity

    -

    65

    Single premium

    Nothing specified

    Nothing specified

    Payment modes

    Single

     

    Sample premium amounts in Lifeguard Single Premium Plan

    The below illustration is for a healthy Male (non-tobacco user) opting for a Sum Assured = Rs. 10 lakhs and Policy Term = 10 years

    Life Guard Level Term Single Premium Rates

     

    Additional Features and Benefits of Lifeguard Single Premium Plan

    Riders – there are 2 riders in this plan

    ·         Accident and Disability rider- this is an accidental death and disability rider

    ·         Waiver of Premium- this rider would entitle all premiums to be waived off till maturity in event of total and permanent disability due to accident

     

    What happens if?

    • You stop paying the premium – there is no question of not paying the premium as the entire premium is paid up front.
    • You want to surrender the policy – Option to surrender this policy is not available..
    • You want a loan against your policy – Loan facility is not available under this policy.




     

    Compare Term Plans

    Leave a Comment

    Term Insurance Calculator
    Important: Insurance is the subject matter of solicitation | © 2009-2022 MyInsuranceClub.com