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ICICI Prudential Life Guard - Single Premium

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This plan has been withdrawn by the insurance company and is no longer available for sale.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
Have any doubts that need to be clarified? Request a Call Back

 

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

 

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.



 

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