ICICI Prudential Pure Protect Elite

Pure Protect Classic Plan from ICICI Prudential Life Insurance

ICICI Prudential Pure Protect Classic Plan is a variant of Pure Protect Plan which is only for low sum assured till less than Rs 25 lakhs. It is a pure term plan with additional rider benefits available. Thus if the life insured dies within the policy tenure, the nominee is eligible to get the sum assured and nothing is payable on maturity.
 

Key Features of Pure Protect Classic Plan

There are additional benefits of Accidental Death and Disability and Waiver of Premium rider
This is a cheap term insurance policy with high sum insurance discount available

Have any doubts that need to be clarified?

 

Benefits you get from Pure Protect Classic plan

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

 

Eligibility conditions and other restrictions in Pure Protect Classic plan

	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

 

Sample illustration of premium amount in Pure Protect Classic plan

The below illustration is for a healthy Male (non-tobacco user) opting for a Sum Assured = Rs. 15 lakhs and Policy Term = 30 years

 

 

Additional Features and Benefits of Pure Protect Classic Plan

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.

 

What happens if?

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.