Have any doubts that need to be clarified? | ![]() |
Death Benefit – Being a pure term insurance plan, there is only death benefit payable to the nominee if the life insured dies within the policy tenure.
Maturity Benefit – Being a pure term insurance plan, there are no maturity benefits under this plan.
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
|
Minimum |
Maximum |
Sum Assured (in Rs.) |
Subject to minimum premium as applicable |
24,99,999 |
Policy Term (in years) |
10 |
30 |
Premium Payment Term (in years) |
Equal to policy term |
Equal to policy term |
Entry Age of Policyholder |
18 |
65 |
Age at Maturity |
- |
75 |
Single premium |
NA |
NA |
Payment modes |
Only Yearly |
The below illustration is for a healthy Male (non-tobacco user) opting for a Sum Assured = Rs. 15 lakhs and Policy Term = 30 years
Riders – There are 2 additional riders available with this plan namely
· Accidental Death and Disability rider - In event of death due to accident, the total additional Sum Insured is paid out to the nominee and in the event of total and permanent disability, 10% of the Rider Sum Assured is paid out every year, for 10 years
· Waiver of Premium Benefit rider- In event of total and permanent disability due to an accident, the company would pay all the future premiums till maturity.
You stop paying the premium – then the policy would lapse after the grace period ends and all benefits would stop. However it can be revived within 2 years on payment of premium and interest.
You want to surrender the policy – There are no surrender benefits under this ICICI Prudential Pure Protect Classic term plan.
You want a loan against your policy – Loan facility is not available under this policy.