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ICICI Term Insurance Benefits

147 reviews Rate This
Claim Settlement Ratio97.90%
Customer Care10:00 AM to 7:00 PM
Death Benefit Paid For11,212 Policies
Presence514 Branches
Total Death Benefit Paid1,023.64 Crore

Term Life Insurance Premium Calculator


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Choose required coverage to secure your family’s future

Disclaimer :
1. Premium has been calculated for coverage till 60 years
2. Eligibility depends on income, occupation and educational qualification

Best ICICI Term Insurance Plans

1 Crore
2 Crore
    Tax Free
    1 Cr
Starting From 707/Month
24hr Claim Settlement
Key Features:
  • Zero Cost Benefit
  • Terminal Illness
  • Nominee's Choice payout
  • Voluntary Top Up
  • Tax Benefits
    Tax Free
    1 Cr
Starting From 857/Month
24hr Claim Settlement
Key Features:
  • Waiver of Premium on Disability
  • Terminal Illness
  • Life Stage Benefit
  • Tax Benefits
    Tax Free
    1 Cr
Starting From 771/Month
24hr Claim Settlement
Key Features:
  • Tax Benefits
  • Terminal illness
See More Plans

Benefits of ICICI Term Insurance

ICICI Prudential Life Insurance offers several term insurance plans to its customers, that secure the financial future of their families in the most unfortunate event. These plans are essential as they offer much needed financial help even when the insured is not around, by offering several coverage benefits as well as tax benefits, along with several other benefits. From affordable premiums to additional coverage with riders, these term insurance plans offered by ICICI Prudential Life Insurance offer you all.

Why To Buy ICICI Prudential Term Insurance?

There are multiple reasons to buy ICICI Prudential Term Insurance. Some of them are explained below:

  • Affordable Premiums: ICICI Prudential Term Insurance offers high-value life cover at affordable premiums. Under ICICI Prudential term insurance plans, you get the flexibility to pay the premiums on a monthly/half-yearly/yearly basis. It is recommended to buy term insurance plans when you are young as it requires you to pay comparatively fewer premiums.
  • Accidental Death Benefit Cover: ICICI Prudential Term Insurance plans come with a rider known as Accidental Death Benefit. This rider offers protection in case of accidents that may happen in the future. You can avail of the benefits with this rider by paying an extra premium at the time of policy purchase.
  • Whole Life Cover: With whole life cover offered by ICICI Prudential term insurance plans, you can get coverage for a longer period of time. Some plans even offer coverage till the age of 99.
  • Flexible Payout Options: ICICI Prudential Term Insurance plans come with flexible options in case of misfortune event of death of the insured. You can choose from monthly or annual income, increasing income at inception, lump sum, and a combination of a lump sum plus income. This helps to meet the financial requirements to a large extent.
  • Critical Illness Coverage- Term insurance covers you for critical illnesses as specified in your plan. On diagnosis of any of the listed critical illnesses, it gives you a lump sum payout.
  • Tax Benefits: On the premiums paid for ICICI Prudential term insurance plans, you get to avail tax deductions, under Section 80C of the Income Tax Act, 1961. Tax benefits can also be availed on critical illness benefits under Section 80D. Also, as per Section 10(10D) of the Income Tax Act 1961, the amount received at the time of maturity is exempt from taxes.

ICICI Prudential Term Insurance User Reviews

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What users are saying
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  • I opted for the ICICI Prudential Term Insurance Policy through InsuranceDekho, and I couldn't be happier. The ...

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    ICICI Prudential
    By Aman Pandey
    On: Oct 18, 2023
  • Making a claim for the ICICI Prudential Term Insurance Policy with InsuranceDekho was hassle-free. They had a ...

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    ICICI Prudential
    By Rupali Yadav
    On: Sep 21, 2023
  • I bought the ICICI Prudential Term Insurance Policy from InsuranceDeko. And it is good to know that it covers ...

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    ICICI Prudential
    By Ashima Chakrobarty
    On: Sep 15, 2023
  • InsuranceDekho provides a detailed explanation about each plan they offer. After going through all the plans i...

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    ICICI Prudential
    By Nitaben Patel
    On: Sep 04, 2023
  • Before purchasing the ICICI Prudential Term Insurance Policy I had my doubts regarding the term plan. I contac...

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    ICICI Prudential
    By Aditya Gupta
    On: Aug 10, 2023
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ICICI Term Insurance Contact Details

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Claim Process at ICICI Term Insurance

  • 1

    Claim Intimation

    In the case of death of the life assured, a claim intimation to the insurance company must be made as early as possible.
  • 2

    Submission of Documents

    Claim form, death certificate, original policy document, and more documents must be submitted to ensure smooth claim settlement.
  • 3

    Claim Evaluation

    Once the documents are submitted, the insurance company will conduct thorough evaluation of the claim filed.
  • 4

    Claim Settlement

    If claim request is approved, claim settlement is done within 30 days. If additional investigation is required, it make take 6 months.

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FAQ About ICICI Term Insurance

  • Why should I buy an ICICI Term Insurance plan?

    This type of life insurance provides financial protection to the nominee or the beneficiary in case the policyholder dies during the policy term. ICICI Term insurance has an impressive claim settlement ratio of 97.84% FY 2019-20.

  • How much ICICI Prudential Term Insurance cover is needed?

    As a general thumb rule, you should have ideal term insurance cover up to 10 times of your annual income. 

  • Are deaths due to COVID-19 is covered under the ICICI Prudential Life Term insurance plan?

    Yes, if the policyholder passes away due to COVID-19, its nominee will get the sum assured as a death benefit.

  • Does ICICI Prudential Term Insurance policy cover death due to suicides?

    Yes, the ICICI Prudential Term Life policy covers death due to suicides.

  • Which is the minimum age to buy an ICICI Prudential Term Insurance plan?

    You can buy the plan at a minimum age of 18 years.

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