Term Life Insurance Premium Calculator
Date of Birth
Do you smoke or chew tobacco?
Choose required coverage to secure your family’s future
Are there any tax benefits available on the Life Insurance policies of ICICI Prudential Life Insurance Company?
On purchasing life insurance, you can avail of tax benefits of Rs. 1.5 Lakh every year under section 80C of the Income Tax Act, 1961. There will not be any tax deduction on the payout received at the time of maturity, as per Section 10(10D) of the Income Tax Act. Kindly note that the tax laws are subject to amendment from time to time.
How can I pay the premium for ICICI Prudential Life Insurance plans?
ICICI Prudential offers 3 modes of premium payment. These are:
1. Online: Online options include net banking, UPI, Credit Card, Debit Card, and e-wallets.
2. Cheque: You can pay the premium for a life insurance policy via cheque at any ICICI Prudential branch or some listed banks.
3. Cash: The next option is to pay policy premiums in cash.
What is the Claim Settlement Ratio (CSR) of ICICI Prudential Life Insurance for the Financial Year 2019-20?
Claim Settlement Ratio (CSR) of ICICI Prudential Life Insurance is 97.84% FY 2019-20.
What is the toll-free customer care number of ICICI Prudential Life Insurance?
The toll-free number of ICICI Prudential Life Insurance is 1860-266 -7766. You can talk to the customer care executives between 10:00 am to 7:00 pm, Monday to Saturday (except national holidays).
Where can I submit the documents of the claim?
You can upload the documents online in the claim section of the ICICI Prudential Life Insurance website, www.iciciprulife.com or you can submit the documents at the claim desk of any of the listed branches of ICICI Prudential Life Insurance. To locate the nearest branch, visit, www.iciciprulife.com/branchlocator
Who receives the claim benefit?
The claim benefit can be received by:
- The nominee you appoint while you purchase the insurance policy or the guardian in case of a minor nominee.
- The proposer is also known as the policyholder.
- An assignee is a person in whose favour the policy has been assigned in case the policy is assigned.
What is the right time to report a claim?
In case of a disability claim, you can report the claim within 120 days from the date of the disability. In case of critical illness or major surgery, the claim is to be reported within 60 days from the date of diagnosis or surgery.
What happens when the nominee dies?
In the absence of a nominee, your family members will have to produce proof establishing their right to claim the policy benefit.
What can cause the decline of a claim?
A claim will be declined if it does not abide by the following:
- Declaration and authorisation which were provided at the time of policy agreement and inception, as specified in the form of application
- Terms and Conditions mentioned in the policy document.
Why should I choose ICICI Prudential Life Insurance?
ICICI Prudential life insurance has a wide range of plans to choose from according to your budget and terms. ICICI Prudential Life Insurance has a high Claim Settlement Ratio. ICICI Pru Life Insurance offers excellent customer care service and flexible payout options. Most importantly ICICI Prudential Life Insurance plans have affordable premiums.
What all life insurance plans does ICICI Prudential offer?
Under the life insurance category, ICICI Prudential offers Term Insurance Plans, Health Insurance plans, Unit Linked Insurance Plans, Traditional Savings/Money Plans, Retirement Plans, Group Plans, Rural Plans.
What are the factors that affect the premium of ICICI Life Insurance plans?
Factors that affect the premium calculation of ICICI Life insurance plans include the policyholder’s age, sum assured, gender, lifestyle, job, medical history, type of policy and tenure of the policy among other factors.
What is the grace period of ICICI Prudential Life Insurance plans?
In case of non-payment of premium by the due date, ICICI Prudential Life Insurance offers a grace period of 15 days for monthly payments and of 30 days for half-yearly and yearly payments.
What are the payout options available for ICICI Prudential Life Insurance Plans?
ICICI Prudential Life Insurance offers the 4 flexible payout options to its life insurance customers namely Lump-sum, Income, Increasing income and Lump-sum plus income.
What documents are required to claim a Life Insurance amount easily?
Documents that are important while claiming Life Insurance amount are:
1. Nominee’s Statement / Claim intimation form
2. Death Certificate issued by the local municipal authority.
3. Original Policy Certificate.
4. Nominee’s KYC Proofs like Aadhaar Card, PAN card etc.
5. Treating doctor’s statements and Indoor case papers (If admitted in Hospital).
6. In case of accidental death and suicide cases, FIR and Post Mortem Reports.
7. Cancelled Cheque.
Is death due to Covid-19 covered by ICICI Prudential Life Term Plan?
Death caused because of any health problems is covered by the life insurance policies including term life insurance policy. It also stands true for the death happening because of the Coronavirus disease. If a person who has purchased ICICI Pru iProtect smart policy passes away due to COVID-19, his/her nominee will be paid the sum assured.
What is the age limit to buy an ICICI Prudential Life Insurance Term plan?
The age limit is subject to the type of plan chosen by the policyholder. For instance, to buy ICICI Pru iProtect Smart, the minimum age is 18 years and the maximum age is 65 years.
What is the easiest way to calculate life insurance premium?
The easiest way to calculate life insurance premium is by using InsuranceDekho’s life insurance premium calculator. The tool is free of cost and easy to use.
What are the factors that affect the premium calculation for life insurance plans?
Factors that affect the premium calculation for life insurance plans are age, gender, medical history, geographic location, BMI index and lifestyle of a person who is purchasing the insurance plan.
How would I know how much life insurance cover do I require?
You can calculate the life insurance cover that you require by considering several factors such as human life value, liabilities, total income, your financial goals, the number of dependent members in the family, and current monthly expenses.
For how long do life insurance plans last?
The tenure of life insurance plans depends on the requirements of the policyholder. Generally, they are 5 years, 10 years, 15 years, 20 years, 30 years, etc. in multiples of 5 years.
How many years should I purchase life cover for?
It is recommended to purchase life insurance cover of 10-15 times your annual income.
Latest News on ICICI Prudential Life Insurance
- ICICI Pru iProtect Smart Plan is considered as a wise choice by many people out there. There are a number of chronic illnesses covered by this particular plan. Learn more about which illnesses are covered under the ICICI iProtect Plan.
- ICICI Prudential Life Insurance has come out with a term insurance product ‘ICICI Pru iProtect Return of Premium’. It is a customer-centric plan that will offer life-stage based cover wherein the quantum of life cover is automatically adjusted based on th
- A single insurance endowment plan is a one-time payment insurance policy that has been created for customers who do not want to endure the hassle of keeping a tab on the plan and making regular periodic payments. Here, you make one large payment, become t
- An endowment policy is a type of life insurance coverage that includes an investment component as well as a death payment. It enables you to develop a sizable savings account for your family while also ensuring that they are financially secure in your abs
- ICICI Prudential Life Insurance Company Ltd began its operations in the year 2001. It is a joint venture between one of the largest private sector banks in India and Prudential Corporation Holdings Limited
Why to Buy Life Insurance Policy Online from InsuranceDekho
- Tax benefit upto 1,50,000*
- Claim support everyday 10AM-7PM
- 50 Lacs+ happy customers
Life Insurance News
ICICI Pru iProtect Smart Plan is considered as a wise choice...28 December 2022
ICICI Prudential Life Insurance has come out with a term ins...03 May 2022
A single insurance endowment plan is a one-time payment insu...04 April 2022
An endowment policy is a type of life insurance coverage tha...04 March 2022
ICICI Prudential Life Insurance Company Ltd began its operat...20 January 2022
ICICI Prudential Life Insurance User Reviews
Claim Process at ICICI Prudential Life Insurance
Claim IntimationIn the event of the death of the life assured, the insurance company should be intimated as early as possible.
Submission of DocumentsFor easy claim settlement, claim form, original policy document, death certificate and others documents should be submitted on time.
Claim EvaluationAfter successful submission of documents, the insurance company will thoroughly evaluate the claim filed.
Claim SettlementIf claim request is approved, claim is settled within 30 days. In case of additional investigation, claim process may take 120 days.