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. ICICI Pru Anmol Bachat
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.
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 life assured 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
I am not aware that i am opening insurance with icici while opening my salary Acc. But not they are not closing it . I just feel like i made a big mistake by considering icici for my salary account . Think again if you really think icici is a good choice .
My life insurance was bought from ICICI prudentuial. One of my friend who is working over there has recommended me about this policy. I paid the premium amount of Rs. 25000 annually. I have paid the premium for 2 years after that i have discontinued the policy due to the personal reasons. I have to pay the premium for 7 years actually.
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1
ALAGU MUTHU DURAI RAJ
, tiruchirapalli
Reviewed on Jan 09, 2019
I have one more term plan with ICICI prudential , I took the life insurance for the tenure of 7 years, monthly I need to Rs. 1565, policy coverage is around Rs. 20 lakhs, they give critical cover, premium terminal on disability. The agent gave me the clear information
I have life insurance with ICICI Prudential, half yearly I make the payment of Rs. 10,000 for the tenure of 12 years. The maturity benefits are good and with the tax benefits. The customer care is good they send the bond on time. I don't have any issues.
I had taken this insurance policy a while back and i had been paying the premium on a monthly basis. The premium has been paying online and the payment method has been easy and the premium amount has not been too high. The services with them has been quite good so far and it has been a good policy.
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0
SUBRAY GANPATI BHAT
, bangalore
Reviewed on Jan 08, 2019
My life insurance policy was taken from ICICI Prudential and i have purchased this policy for my child's benefits. I have invested the amount of Rs. 1 lakh and i have to pay the premium for 5 years. I have not received any kind of renewal notifications hence i have not paid anything after the first premium since they don't provide the policy documents. When i called the customer care for my issue, they have asked me to contact the branch and when i visited their branch and they said since because of the no renewal payment hence policy got expired.
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0
ARUMBAKKAM NANDAKUMAR PRASANNA
, thane
Reviewed on Jan 04, 2019
I had taken the health insurance with ICICI Lombard. I had a plan name of G type. I have taken the child insurance policy. As per the premium amount given them but i have not received any kind of documents. In 2009 i purchased a policy with them. I visited their branch regarding the documents issue but there is no resolution.
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0
ARUMBAKKAM NANDAKUMAR PRASANNA
, thane
Reviewed on Jan 04, 2019
I have taken wealth builder insurance plan in 2015. I don't feel this is a great plan except for the insurance coverage. after 3 years my son has not increased much. also feel my son is blocked for a period of 5 years. except for the insurance coverage there is not much benefit from this.
Their application process was so fantastic. The documentation was fine and i have done everything through online. Since because of the brand value, i have selected the ICICI prudential for my term insurance. The claim ratio is very high which is98.3%. I have selected the premium is a accelerated one. First I have to pay the premium upto 10 years and it will cover next 34 years. I have selected the coverage value of Rs. 1 Cr upto 65 years. I pay the premium amount of Rs. 2311.
I had taken this insurance policy a while back and i had been paying the premium every month. The premium amount has not been too high and the payment method has been easy as well. Their customer support has also been responsive and has been helpful as well.
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2
GIRI ANAND KUMAR MANADEV
, kolkata
Reviewed on Dec 20, 2018
I have taken a life insurance from ICICI Prudential. It is a cash back policy and the policy coverage and the plan benefits are fine and satisfactory. The payment options are also fine as I can pay my premium with ease online. The customer support is supportive.
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0
ARVINDER SINGH
, new delhi
Reviewed on Dec 11, 2018
Through mobile I came to know about the ICICI prudential life insurance, for the coverage of Rs. 1 lakh, I paid the premium of Rs.20 it has accidental cover and critical illness cover but there is no medical cover. The Policy documentation process is easy.
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OMKAR LANKA
, visakhapatnam
Reviewed on Dec 10, 2018
I have taken a term plan with ICICI preudential from last 2 years, i pay a premium of Rs 525 every month for this insurance policy and i am convenient with the payment options. Customer service was good and they explained every detail of this policy.
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1
PANKAJKUMAR JAYANTIBHAI NAYI
, ahmedabad
Reviewed on Dec 10, 2018
I have taken a term insurance with ICICI Prudential and I need to pay a premium till the age of 60 and it has a coverage till the age of 65 to 66. The policy coverage is for 50 lakhs and if anything external happens to the policy holder another 50 lakhs is provided to the family. The premium is economical, it is of 897 which goes through on a ECS basis.
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VIVEK KUMAR CHAUHAN
, new delhi
Reviewed on Dec 05, 2018
My experience with the life insurance policy from the ICICI PRUDENTIAL and it is a annual term plan policy. The maturity period of this policy is for 10 years where i am paying my premium of r yearly once for this policy. The process of getting the policy is good.
I have been holding my life insurance with ICICI prudential , i have been taken two policy through icici , the premium they have charged me was nominal, and premium amount for one policy they are charging up to yearly basis, and for another policy on half yearly basis, overall service is good.
I have applied for the life insurance which is TERM PLAN with the ICICI PRUDENTIAL. The process of getting and also applying the life insurance is simple process with this ICICI. The service is very good also i am satisfactory with this loan.
I have a Term insurance policy from the ICICI Prudential . The premium gets auto debited from the account. I Don't have to worry about the due date because ECS makes life so much easier. Their services also needs improvements. They need to raise their standards and provide quality support all the customers.
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VINOD KUMAR KAMBLE
, hyderabad
Reviewed on Nov 21, 2018
I have been holding my health insurance with ICICI BANK , there service is not up to the mark, they dont keep there words they said that my policy coverage was up to 10,00,000 but i check it it was just for 3,00,000 only and even what is benefit in this health insurance they have not explained me and i do not have idea how much hospital they have tie up.
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0
LAL SINGH SINGH
, faridabad
Reviewed on Nov 16, 2018
I generally pay Rs.30,000 per annual year for the life insurance. The plan which I taken with ICICI Prudential is called money back. Every yearly I get the bonus amount from the coverage value. After completion of tenure period I get the entire benefits.
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1
BISWANATH SAMANTARAY
, bhubaneshwar
Reviewed on Nov 02, 2018
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