Loan Protect Plus offered by ICICI Prudential life is available to individuals who have taken a loan from any financial institution, subject to underwriting. It an ideal protection-oriented plan that protects the family, in case of the policyholder's untimely death. Since this plan comes with a lump sum amount, it can be used to meet immediate liabilities such as loan repayment, that may arise in the policyholder's absence.
A few of them are mentioned below:
A few advantages of the plan are mentioned below:
Aged 30, Shyam has bought a house, in one of the posh localities in the city, on credit. He purchases ICICI Pru Loan Protect Plus with a Sum Assured of Rs 1 crore and policy term of 10 years. However, during the policy term he meets with an accident and is permanently disabled. In this case, the nominee will receive the entire sum assured of Rs 1 crore, which can be used to repay the loan.
Yes, you can pay premiums using your debit card, credit card, or even net banking online at ICICI Prudential web portal.
In order to file a death claim, you will require the following documents:
No. Loans are not provided under this insurance policy.
No. Once you have chosen a sum assured at the beginning of the policy, it remains the same through the entire term till maturity.
A policy, which has lapsed for non-payment of premium within the days of grace, can be revived within 2 years from the due date of the first unpaid premium and before the termination date of policy. The policyholder will have to furnish satisfactory evidence of health of the Life Assured, as per company regulations.
Credit Card:
Credit Score:
Personal Loan:
Home Loan:
Fixed Deposit:
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