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ICICI Prudential Group Plans

 4.0 / 5.0   by 820 users
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Plan Benefits

Payment Options

Policy Coverage

Customer Service

Responsiveness

It is imperative for an organisation to understand that its employees are the most valuable asset. To ensure a smooth operational and comfortable working structure for employees, ICICI Prudential group solutions enable employers to offer benefits to their employees. Apart from this, it also assists the organisation in meeting the statutory obligations of gratuity of an employer.

Why ICICI Prudential Group Plans?

ICICI Prudential life is a leading provider in the field of insurance. Not only is it trusted by millions, but is also extremely popular amongst its strong customer base. ICICI Prudential Group Plans enables an organisation to fulfil the obligations gratuity, thereby, providing security and ensuring the wellbeing of the employees.

  1. Group Gratuity Plan

    Gratuity is a statutory benefit provided to employees of an organisation. On his exit from the organisation, he gets a lump sum amount only if he has fulfilled all the prerequisites of the gratuity act.

    Benefits

    1. The minimum group size to avail this plan is that of 10 members.
    2. The plan options are linked by unit.
    3. The minimum age of a customer to buy this plan needs to 15 years. The maximum age limit for the same is 85 years.
    4. The minimum policy tenure for this plan is 1 year.
    5. As per the bundled life cover, the company’s group gratuity plan offers a standard cover of Rs. 1000 to all the employees.
    6. With the help of scheme administration, the organisation can add or delete members/employees on a monthly basis.
  2. Group Superannuation Plan

    This is a pension benefit plan, and is offered to employees on their retirement.

    Benefits

    1. This plan further offers two types of plans to choose from – Unit linked and Endowment.
    2. The minimum annuity amount is Rs. 100.
    3. The age limit of applicants, for this plan, ranges from a minimum of 20 years to a maximum of 85 years.
    4. The policy tenure is a minimum of 1 year.
    5. The vesting age limit is a minimum of 45 years to maximum of 80 years.
  3. Loan Protect Plus

    This plan ensures that on the policyholder’s death, his family members inherit the asset (for which the loan was taken) and not the loan.

    Benefits

    1. The applicant needs to be a minimum to 18 years old (at the time of entering the policy) and can avail the same until the age of 65.
    2. The age limit at maturity has to be a minimum of 23 years and maximum of 70 years.
    3. The minimum sum assured is Rs. 500,000.
    4. The policyholders are entitled to the following benefits -
    5. Death Benefit with Accidental Death (AD) Benefit
    6. Death Benefit with Accelerated Critical Illness (CI) & Total and Permanent Disability (TPD) Benefit
    7. Death Benefit with AD Benefit and Accelerated CI & TPD Benefit
  4. Group Leave Encashment Plan

    This is a benefit offered by an organisation to its employees, by dint of which an employee is entitled to accumulate his/ her leaves and encash it later.

    Benefits

    1. The plan is available in ‘Unit Linked’ option.
    2. The age limit to avail this plan is a minimum of 15 years to a maximum of 85 years.  
    3. The minimum policy tenure is that of 1 year.
    4. According to the Bundled life cover, the group leave encashment plan gives a standard cover of Rs. 1000 to the employees.
    5. The premium paying term can either be monthly, quarterly, half-yearly, and yearly.
    6. Group Immediate Annuity Plan
    7. This plan offers a stable periodic payment to the employee. This is done throughout his/her lifetime, but only against the payment of an initial lump sum.
    8. The annuity payment has four modes to be chosen from – Yearly, Half yearly, Quarterly, and Monthly.
    9. For superannuation tied, the minimum amount payable is Rs. 100. It is Rs. 12,000 for superannuation standalone.
    10. The minimum age limit for superannuation tied is 20 years and maximum is 80 years.
    11. The minimum age limit for superannuation standalone is 45 years and maximum is 80 years.
    12. The premium payment mode is single premium.
  5. Group Term Life Solutions

    This is a term group insurance which provides financial security for the policyholder's family in the event of his/her death.

    Benefits

    1. The minimum size of the employer-employee group needs to be 10, or else it is 50.
    2. The minimum premium amount at policy level is Rs. 10,000.
    3. Rs. 1000 is the minimum sum assured at a member level.
    4. The age limit for entering the policy is a minimum of 15 years and maximum of 79 years.
    5. The maximum age for policy expiration is 80 years.
    6. The policy tenure 1 year.

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

ICICI Prudential Group Plans Reviews

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  • ICICI Prudential Life Insurance
    "Good Customer service and user friendly app"
    0.5 4.0/5 "Great!"
    The policy is very good in terms of customer care service and the app. I feel the premium are little bit high. I bought this policy through agent. Because of the claim ratio i have taken this policy. Total tenure period the policy upto 60 years of my age. I make the payment through the app.
    Was this review helpful? 0
    , bangalore
    Reviewed on Jan 21, 2019
  • ICICI Prudential Life Insurance
    "Excellent service"
    0.5 5.0/5 "Blown Away!"
    I have been using my term insurance with ICICI bank,the agent had clearly explain me about the policy and benefit coverage, and i use to pay premium amount on monthly basis.they have charged me premium nominal,they have charged me up to 712 on monthly.and my premium amount use to get auto debited from my account.
    Was this review helpful? 0
    , bangalore
    Reviewed on Jan 20, 2019
  • ICICI Prudential Life Insurance
    "Best Policy"
    0.5 3.0/5 "Satisfactory"
    My life insurance policy was bought from ICICI Prudential. The plan name is money growth. I have been paying the premium amount of Rs. 250000 per annum. I have selected the annual mode. I used to make the premium through online. I will get a sum assured amount of Rs. 25 lakhs. Total tenure period the policy is 10 years.
    Was this review helpful? 0
    , indore
    Reviewed on Jan 20, 2019
  • ICICI Prudential Life Insurance
    "worst policy ever"
    0.5 1.0/5 "Really Bad"
    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 .
    Was this review helpful? 0
    , hyderabad
    Reviewed on Jan 17, 2019
  • ICICI Prudential Life Insurance
    "Average Policy"
    0.5 3.0/5 "Satisfactory"
    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.
    Was this review helpful? 1
    , tiruchirapalli
    Reviewed on Jan 09, 2019
  • ICICI Prudential Life Insurance
    "Good for nominees"
    0.5 3.5/5 "Pretty good"
    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
    Was this review helpful? 0
    , chennai
    Reviewed on Jan 08, 2019
  • ICICI Prudential Life Insurance
    "Its Good"
    0.5 5.0/5 "Blown Away!"
    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.
    Was this review helpful? 1
    , chennai
    Reviewed on Jan 08, 2019
  • ICICI Prudential Life Insurance
    "Good Policy"
    0.5 4.0/5 "Great!"
    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.
    Was this review helpful? 0
    , bangalore
    Reviewed on Jan 08, 2019
  • ICICI Prudential Life Insurance
    "Cheated people"
    0.5 1.0/5 "Really Bad"
    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.
    Was this review helpful? 0
    , thane
    Reviewed on Jan 04, 2019
  • ICICI Prudential Life Insurance
    "Useless policy"
    0.5 1.0/5 "Really Bad"
    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.
    Was this review helpful? 0
    , thane
    Reviewed on Jan 04, 2019
  • ICICI Prudential Life Insurance
    "wealth builder"
    0.5 3.5/5 "Pretty good"
    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.
    Was this review helpful? 1
    , hyderabad
    Reviewed on Jan 04, 2019
  • ICICI Prudential Life Insurance
    "One must have some term plan"
    0.5 5.0/5 "Blown Away!"
    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.
    Was this review helpful? 1
    , mumbai
    Reviewed on Dec 29, 2018
  • ICICI Prudential Life Insurance
    "Very Good Service"
    0.5 4.0/5 "Great!"
    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.
    Was this review helpful? 2
    , kolkata
    Reviewed on Dec 20, 2018
  • ICICI Prudential Life Insurance
    "More than satisfactory"
    0.5 5.0/5 "Blown Away!"
    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.
    Was this review helpful? 0
    , new delhi
    Reviewed on Dec 11, 2018
  • ICICI Prudential Life Insurance
    "Good policy for life"
    0.5 5.0/5 "Blown Away!"
    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.
    Was this review helpful? 0
    , visakhapatnam
    Reviewed on Dec 10, 2018
  • ICICI Prudential Life Insurance
    "Good Policy"
    0.5 4.0/5 "Great!"
    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.
    Was this review helpful? 1
    , ahmedabad
    Reviewed on Dec 10, 2018
  • ICICI Prudential Life Insurance
    "Excellent"
    0.5 5.0/5 "Blown Away!"
    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.
    Was this review helpful? 0
    , new delhi
    Reviewed on Dec 05, 2018
  • ICICI Prudential Life Insurance
    "GOOD SERVICE"
    0.5 5.0/5 "Blown Away!"
    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.
    Was this review helpful? 1
    , jaipur
    Reviewed on Nov 27, 2018
  • ICICI Prudential Life Insurance
    "Good service"
    0.5 4.0/5 "Great!"
    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.
    Was this review helpful? 0
    , pune
    Reviewed on Nov 25, 2018
  • ICICI Prudential Life Insurance
    "GOOD SERVICE"
    0.5 5.0/5 "Blown Away!"
    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.
    Was this review helpful? 1
    , new delhi
    Reviewed on Nov 24, 2018
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