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ICICI Pru Group Term Plus Plan

Overview of ICICI Pru Group Term Plus:

The ICICI Pru Group Term Plus offerslife insurance cover to all the members of the insured’s group. In case of death of the insured, the loved ones will be receiving a lump sum amount of money that would ensure their financial security. As the main policy holder, the lump sum amount can be chosen by the insured which would be given to the nominee after his/her demise.

Eligibility for ICICI Pru Group Term Plus:

In order to be eligible for the ICICI Pru Group Term Plus, an individual must meet the following criteria:

Minimum age at entry 15 years
Maximum age at entry 79 years
Minimum assured sum Rs.5,000 per member
Minimum term of the policy 1 year
Maximum policy term Not Applicable
Minimum age at maturity Not Applicable
Maximum age at maturity Not Applicable
Minimum premium payment Rs.10,000

Key features of ICICI Pru Group Term Plus:

The ICICI Pru Group Term Plus comes with a myriad of features. These features are as follows:

Members under the plan
  • Formal Group – 10 members
  • Informal Group – 50 members
Minimum life cover offered Rs.5,000 for every member
Frequency of paying premiums Premiums can be paid on monthly, quarterly, half yearly and annual basis
Tax benefits Avail tax benefit on premiums and the benefits listed under this policy according to the current Income Tax Laws

Benefits of ICICI Pru Group Term Plus:

ICICI Pru Loan Protect Policy comes with several benefits. These benefits are as follows:

  • All the members under the ICICI Pru Group Term Insurance scheme can enjoy life cover at a very low cost.
  • A life cover can prove to be a very strong retention tool and a measure for loyalty building for the employers.
  • Tax deductions can be availed on the premiums that are paid as per the prevalent tax laws.
  • The administration process for deletion and addition of members is very simple.
  • This particular plan is ideal for the employees as it provides life cover to secure the future of their close ones.
  • In order to avail this coverage, there is no need of a medical examination. However, the life cover will be up to the limit of free cover. The maximum amount of life cover that can be offered without any medical test is known as free cover limit. This particular limit will differ from one group to another group.
  • It is ideal for employers as it offers coverage to your employees in the event of an unfortunate event.

How does ICICI Pru Group Term Plus plan work?

The ICICI Pru Group Term Plus insurance scheme is offered via a Master Policy that is issued to the individual. As the group administrator or master policy holder. The members of the group you create will be covered for span of 1 year. Under the Formal plan of the ICICI Pru Group Term Plus insurance scheme there can be 10 members. Under the Informal plan of the ICICI Pru Group Term Plus insurance scheme there can be 50 members. The lump sum is paid to the nominee after the demise of the master policy holder due to any unfortunate event. It may be a flat cover amount or a graded cover amount. If all members of the group have different life covers it is called graded cover. In case all the members of the group have the same cover, it is known as flat cover.

GST of 18% is applicable on life insurance effective from the 1st of July, 2017

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ICICI Pru Group Term Plus Plan Reviews

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  • ICICI Prudential Life Insurance
    "Good benefits"
    0.5 4.0/5 "Great!"
    I have a life insurance policy, the benefits are good with ICICI prudential. I have taken 2 policies and using the service for last 7 years. The service is good with them. They have explained me the policy about the benefits. It was taken for tax benefits. The payment was debited from my account in a yearly basis.
    Was this review helpful? 0
    , kolkata
    Reviewed on Apr 23, 2019
  • ICICI Prudential Life Insurance
    "Excellent service"
    0.5 5.0/5 "Blown Away!"
    I have been holding my Term insurance with ICICI PRUDENTIAL. Their service is excellent and responsiveness was good. They have clearly explained me about their policy coverage and plan benefits, i use to pay premium on monthly basis through on line.
    Was this review helpful? 0
    , dehradun
    Reviewed on Apr 17, 2019
  • ICICI Prudential Life Insurance
    "EXCELLENT"
    0.5 5.0/5 "Blown Away!"
    I am holding the life insurance policy with the ICICI PRUDENTIAL ans using it since from last many years and now stopped paying the premium. There are no issues with this insurance as i am using. It gives the coverage for self added on that the documentation process was simple.
    Was this review helpful? 0
    , mumbai
    Reviewed on Apr 15, 2019
  • ICICI Prudential Life Insurance
    "Service is not upto the mark "
    0.5 1.0/5 "Really Bad"
    I taken this ICICI life insurance mainly for protection of loan of 5 lakhs . Though I said I have one more plan in my name . They compelled me to take this policy by paying an amount of Rs 7000 /- . It is only applicable for the accidental death benefit .
    Was this review helpful? 0
    , new delhi
    Reviewed on Apr 14, 2019
  • ICICI Prudential Life Insurance
    "Average service"
    0.5 3.5/5 "Pretty good"
    I have taken life insurance policy with the ICICI PRUDENTIAL,The documentations process was done by my relative. They have suggested me best policy , They have charged me premium on monthly basis and the premium use to get auto debited from my account.
    Was this review helpful? 0
    , mumbai
    Reviewed on Apr 11, 2019
  • ICICI Prudential Life Insurance
    "Excellent service"
    0.5 5.0/5 "Blown Away!"
    As i am privilege customer of ICICI bank so they have offered me to apply life insurance with ICICI prudential. The agent had clearly explained me about the term and conditions and also plan benefits and policy coverage. It was clearly mentioned on the hard copy. The premium use to get deduced from my account.
    Was this review helpful? 0
    , chennai
    Reviewed on Apr 11, 2019
  • ICICI Prudential Life Insurance
    "Returns are not very good"
    0.5 4.0/5 "Great!"
    ICICI providing a maturity plan along with some returns .I need to pay an amount of Rs 15000 for next seven years .After the completion of tenure , I will get some returns . ICICI service is very prompt and good online facilities is available . But ICICI are not providing very extra ordinary returns .
    Was this review helpful? 0
    , kochi
    Reviewed on Apr 10, 2019
  • ICICI Prudential Life Insurance
    "GOOD"
    0.5 4.0/5 "Great!"
    I have taken life insurance policy with the ICICI PRUDENTIAL and using it from last 3 months. The documentation process was done on time without hassle. The maturity period is for long term and the premium was paid yearly once for this policy.
    Was this review helpful? 1
    , chennai
    Reviewed on Apr 09, 2019
  • ICICI Prudential Life Insurance
    "Customer service is not upto the standard"
    0.5 1.0/5 "Really Bad"
    ICICI executive compelled me to take this life insurance policy for protection of my personal loan . I need to additional amount of 8-9 thousands rupees for next two year . Even though I had some other insurance policy, they forced me to take this policy .
    Was this review helpful? 0
    , new delhi
    Reviewed on Apr 09, 2019
  • ICICI Prudential Life Insurance
    "Flexible Term plan"
    0.5 5.0/5 "Blown Away!"
    ICICI PRUDENTIAL has good brand name, they give good benefits on my term plan. Through netbanking I can access everything, before three years the premium was lower now they increased based on my age yearly Rs. 9000, starting it was Rs. 11,000, based on IT proof the premium increased. For normal death they give Rs. 50 lakhs of cover and for the accidental they give Rs. 1 crore. I have added one nominee and they do have flexible emi option.
    Was this review helpful? 0
    , chennai
    Reviewed on Apr 08, 2019
  • ICICI Prudential Life Insurance
    "GOOD"
    0.5 4.0/5 "Great!"
    I am using the lie insurance policy with the ICICI PRUDENTIAL since from last 10 years and the policy coverage gives for the entire family. The premium paying for the 6 months once with this insurance policy. The documentation process was good and simple.
    Was this review helpful? 0
    , gurgaon
    Reviewed on Apr 06, 2019
  • ICICI Prudential Life Insurance
    "GOOD"
    0.5 4.0/5 "Great!"
    I have purchased the life insurance policy with the ICICI PRUDENTIAL and using it since from last 9 years. It gives the family coverage of self and also the premium paying for yearly once. The maturity is for yearly once with this policy. The customer support is good.
    Was this review helpful? 0
    , dindigul
    Reviewed on Apr 06, 2019
  • ICICI Prudential Life Insurance
    "GOOD POLICY"
    0.5 3.5/5 "Pretty good"
    I have been using it since from last two years with the ICICI PRUDENTIAL life insurance where the maturity period of this policy is for long term and the premium for this policy paying for yearly once. It gives the life coverage with this policy.
    Was this review helpful? 0
    , mumbai
    Reviewed on Apr 02, 2019
  • ICICI Prudential Life Insurance
    "GOOD"
    0.5 4.0/5 "Great!"
    I have been using the life insurance policy with the ICICI PRUDENTIAL since from last three years this gives the policy coverage for family where the maturity period of this policy is for 10 years. The premium i pay of 15K for yearly once with this policy.
    Was this review helpful? 0
    , mumbai
    Reviewed on Apr 01, 2019
  • ICICI Prudential Life Insurance
    "GOOD"
    0.5 4.0/5 "Great!"
    I have been using the life insurance policy with the ICICI PRUDENTIAL since from last three years this gives the policy coverage for family where the maturity period of this policy is for 10 years. The premium i pay of 15K for yearly once with this policy.
    Was this review helpful? 0
    , mumbai
    Reviewed on Apr 01, 2019
  • ICICI Prudential Life Insurance
    "Good for family protection"
    0.5 4.0/5 "Great!"
    My prudential pro smart is specially for the working people who have some disease it has the good cover for the caner, if we run to that situation they give 50% of coverage from the total value. It has coverage of Rs. 1 crore I have mentioned lump sum, they give critical illness waiver. The premium I is good around Rs.1500 per month, I need to pay upto 60 years old.
    Was this review helpful? 0
    , hyderabad
    Reviewed on Apr 01, 2019
  • ICICI Prudential Life Insurance
    "Its Good"
    0.5 4.0/5 "Great!"
    My ULIP plan with ICICI Prudential it has the locking period around three years, the premium was around Rs. 2 lakhs per annum it has the tenure period of five years then I got the sum assured and as per the market investment I get the benefits. In fact they give tax saving under 80c.
    Was this review helpful? 0
    , kolkata
    Reviewed on Mar 30, 2019
  • ICICI Prudential Life Insurance
    "Life Insurance Executives are Proactive "
    0.5 5.0/5 "Blown Away!"
    I taken a term plan in ICICI prudential for Sum assured of 1 crore till 85 years of term period . It is the normal plan with inbuilt features . Comparing with other plan it is the best plan with ICICI . Customer executives are proactive in helping for the customers .
    Was this review helpful? 0
    , mumbai
    Reviewed on Mar 24, 2019
  • ICICI Prudential Life Insurance
    "Good Investment"
    0.5 4.0/5 "Great!"
    I invested in ULIP at ICICI Prudential for the amount of Rs. 2 lakhs it has the locking period for five years, I used to pay the premium around Rs. 50,000 on yearly basis it has the term of five years , then I get sum assured and other benefits around Rs. 15 lakhs.
    Was this review helpful? 1
    , chennai
    Reviewed on Mar 18, 2019
  • ICICI Prudential Life Insurance
    "Good service"
    0.5 4.0/5 "Great!"
    I have been holding my term insurance with ICICI prudential insurance, i have been applied this insurance from past one and half years, the coverage is good and I pay my premium through on line,and premium i used to pay on a yearly basis. Their service is good and they use to update me if any new policy is added.
    Was this review helpful? 0
    , ghaziabad
    Reviewed on Mar 18, 2019
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