Life usually does not follow the path that you draw out exactly. Sure your salary may be hiked each year, but will it cover all of your expenses in the event of an unexpected expense? Especially in this age where health care and education expenses are rising quickly, is your salary really enough? You may find yourself in a lot of financial trouble if you do not have a back-up plan for an unexpected expense. For example, if your partner falls ill, you would definitely want to stand on your own feet to meet the related expense.
helps you to plan ahead for such events by aiding you to save small sums now, creating a lump sum amount to meet your future needs. The benefit of this ICICI Prudential Life Insurance plan is three-folds: Liquidity, Savings and Life cover.
Eligibility for ICICI Pru Anmol Bachat:
Single Premium
Minimum entry age
15 years
Maximum entry age
50 years
Minimum Single Premium
Rs. 2,500
Maximum Single Premium
Rs.15,000
Five Pay
Minimum entry age
18 years
Maximum entry age
52 years
Minimum Annual Premium
Rs.1,200
Maximum Annual Premium
Rs.6,000
Ten Pay / Fifteen Pay
Minimum entry age
18 years
Maximum entry age
55 years
Minimum Annual Premium
Rs.1,200
Maximum Annual Premium (if age at entry < 45 years)
Rs.3,000
Maximum Annual Premium (if age at entry >= 45 years)
Rs. 4,285
Key Features of ICICI Pru Anmol Bachat:
Plan type
Non-linked, participating endowment insurance plan
Plan Basis
Individual
Sum Assured on Death (Single Premium)
This is a guaranteed amount which is payable upon the policy holder’s death during the policy term. The Sum Assured on death will be equal to the higher of either the following:
2 times Annual Premium
Guaranteed Maturity Benefit
Sum Assured on Death (Five pay)
This is a guaranteed amount which is payable upon the policy holder’s death during the policy term. The Sum Assured on death will be equal to the higher of either the following:
Guaranteed Maturity Benefit
5 times Annual Premium
Sum Assured on Death (Ten Pay/ Fifteen Pay)
This is a guaranteed amount which is payable upon the policy holder’s death during the policy term. The Sum Assured on death will be equal to the higher of either the following if the age at entry of the life assured is less than 45 years:
Guaranteed Maturity Benefit
10 times Annual Premium
The Sum Assured on death will be equal to the higher of either the following if the age at entry of the life assured is 45 years or higher:
Guaranteed Maturity Benefit
7 times Annual Premium
Grace Period
15 days if monthly premium payment mode and 30 days if other modes.
Premium payment mode
Unless your policy is a Single Premium policy, you have a choice to pay your premiums monthly, half yearly or yearly. You can avail premium discounts if you pay premiums yearly or half-yearly. The discounts is as follows:
Monthly: Nil
Half yearly: 2.5%
Yearly: 4.5%
Surrender value
Single Premium policies: From the start of the policy, your policy has a surrender value.
Five Pay policies: A surrender value is acquired on payment of two full years’ premium.
Ten Pay/ Fifteen Pay policies: Upon payment of 3 full years’ premium, your policy acquires a surrender value. Once your policy has acquired a surrender value, on surrender you will get surrender value of vested bonuses or Special Surrender Value, whichever is higher. You will also get the Guaranteed Surrender Value.
Revival
In case a policy has discontinued payment of premiums, it is possible to revive it under these conditions:
The application for revival is made before the termination date of the policy and within two years from the due date of the first unpaid premium.
The prevailing Board approved underwriting policy will decide the revival.
The policyholder must provide evidence of health of the life assured, which must satisfactory to the Company.
The late payments of premiums are paid.
Benefits of ICICI Pru Anmol Bachat:
Survival Benefit: Survival Benefit, which is equal to one annual premium, will be paid during the policy term. This holds true only if the is alive and all due premiums have been paid.
Death benefit: If the death of the life assured is during the policy term, Death Benefit will be payable, irrespective of the survival benefits paid. This is under the condition that it is a fully paid policy.
Guaranteed Maturity Benefit: Guaranteed Maturity Benefit is a guaranteed amount that will be payable at the end of the policy term. The Guaranteed Maturity Benefit will be shown on the benefit illustration.
GST of 18% is applicable on life insurance effective from the 1st of July, 2017
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ICICI people have approached me hence i bought the life insurance policy with them. Every year i pay the premium amount of Rs. 15000 for the sum assured amount of Rs. 50 lakhs. This is a term insurance policy. It will cover upto 75 years of my age. In the documents, there is not mentioned about the partial disability and medical illness.
I have taken a term insurance in ICICI PRUDENTIAL on one year before. The policy is for 65 years but I have taken for 32 years. I am paying premium in the monthly package and the amount is high. While getting a policy I came to know about an information about the policy details through an online.I use to do payment through an online.
I am using the life insurance policy with ICICI PRUDENTIAL since from last 1.5 years, the premium i am paying for monthly once, maturity period of the policy is for 15 years, policy coverage is for family, premium period was 10 years latter after 15 years sum assured will be given.
I have purchased the term plan with ICICI PRUDENTIAL where i am using it since from last few years and the premium paying for yearly once added on that there are good returns available with the policy, it gives the self coverage with the policy.
I have taken a TERM PLAN with ICICI PRUDENTIAL, the maturity period of the policy is for 15 years where the rprem9um have to paid for 10 years and 5 years it gets matured. I got the hard copy also soft copy regarding the policy. The policy has the good returns, it can be converted as pension.
I am using from last 4-5 months and the name of the policy is TERM PLAN but the documentation process was done through online also the customer support explained the policy details. The premium paying for monthly once also the maturity period is for 30 years. It has the coverage for self.
ICICI PRUDENTIAL is the company where i have purchased the policy on 2011 but i am not aware of the name of the policy also the policy premium paid for 6 months once for 5 years and the policy maturity period is for 16 years. I am not aware of the name of the policy.
I pay Rs.12100 of premium for per year, now it got closed. I paid nearly for five years. I will get sum assured and bonus interest almost Rs. 40,000 extra. It doesn't have tax cover but the customer executive calls me regularly, I used to make card payment its easy to make my premium.
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M NAGA BHUSHANAM
, chennai
Reviewed on Jun 25, 2019
I have taken Life Insurance policy it was referred by ICICI Bank.This policy i have taken on 2013 and this policy premium paid on monthly basis .I am paying the premium of Rs.563.The agent gave all the required details about the policy and there was no difficulties faced so far on using this policy ,I have submitted the documents through the agent .
Its a term plan which I taken for my family, I make around Rs. 9000 per annum it has the tenure period around 30 years. I have selected coverage of Rs.75 lakhs, its gives lump sum benefits to my family, the insurance company claim settlement ratio and grievance resolved is great but there is no critical illness benefits.
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MANISH RATANLAL MOTWANI
, mumbai
Reviewed on Jun 18, 2019
Purchased my term insurance policy from ICICI Prudential. For the financial security for my family, i have chosen this one. They are providing the coverage amount of Rs. 15 lakhs and i have been paying the premium amount of Rs. 10,850 and i made the premium through online and they have sent me the hard copy of the document through online.
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1
MEGAVATH RAJU
, hyderabad
Reviewed on Jun 13, 2019
I have taken the ULIP PLAN with the ICICI PRUDENTIAL where the policy has the coverage for self. The policy has the locking period for 3 years. The premium paying for 25600 rupees for yearly once. It has the good customer support with long maturity period.
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PRAVEEN KUMAR VUTLA
, hyderabad
Reviewed on Jun 12, 2019
I have taken a life insurance in ICICI PRUDENTIAL for more than 3 years.The policy is for 30 years. Now I am paying premium in the quarterly package. While getting a policy I came to know about the details and received hard copy documents as well. I use to do payment through an online.
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0
ABHISHEK KUMAR SINHA
, kolkata
Reviewed on Jun 10, 2019
I have taken a life insurance in ICICI PRUDENTIAL. The policy is for 2 years. Now I am paying premium in once for two years. While getting a policy my agent has given an information about the policy details and provided documents as well. I use to do payments through an online.
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RAJAN PRAVEN BOLLA
, panchkula
Reviewed on Jun 09, 2019
Bought my ULIP policy from ICICI Prudential. I get a normal benefits from this card. I get a good life cover, disability benefits and illness benefits as well. I am investing in ULIP for last 1 year back. I have been paying the premium amount which is convenient for me.
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SATYAKI DASGUPTA
, kolkata
Reviewed on May 28, 2019
I have bought my term insurance policy from ICICI. One of my friend who is there in ICICI has referred me about this policy. I have been paying the premium amount of Rs. 18000 which is yearly basis. I have selected the coverage value of Rs. 50 lakhs. Its covers for disability and partial disability also. I pay the premium through online. Each and every responsible family person need to take this term insurance policy.
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DAKOJU MALATHI
, hyderabad
Reviewed on May 27, 2019
I have term plan with ICICI Prudential for that I pay the premium of Rs. 13,000 per annum . I need to pay upto my 75 years old and if any certain demise happen. My family will be getting Rs. 1 crore. The claim settlement ratio is good upto 90% and they give critical illness cover upto Rs. 25 lakhs.
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PRADEEP A SOMANNA SOMANNA
, bangalore
Reviewed on May 27, 2019
I have taken a life insurance in ICICI PRUDENTIAL before one year ago. The policy is for 75 years. Now I am paying premium in the monthly package for the amount of 680 rupees. While getting a policy my agent has given an information about the policy details and provided hard copy documents as well. Through an online I use to do the payments.
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1
ABHISH SHAH SHAH
, vadodara
Reviewed on May 24, 2019
I am most happy with ICICI Prudential, they are very transparent and the allocation value is less, they have explained everything clearly on their app. I can customized the products according to my needs. I have taken a normal policy and term plan, totally 3 policies. I got the insurance paper on time.
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AISHWARYA SINGH
, silvassa
Reviewed on May 19, 2019
I have purchased the TERM PLAN with the ICICI PRUDENTIAL and using it since from many years. The documentation process was done through online without hassle process and the customer executive explained the details of the policy and they were responsive too.
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NAKUL SUBHASH GOKAVE
, pune
Reviewed on May 17, 2019
