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ICICI Prudential Group Plans

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. 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

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Plan Benefits

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Policy Coverage

Customer Service

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ICICI Prudential Group Plans Reviews

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  • ICICI Prudential Life Insurance
    "Good Plan"
    0.5 4.0/5 "Great!"
    I have taken my term insurance from ICICI prudential. I have trusted this bank because its a top most high, that is the reason i have chosen them. I'm happy about the claim ratio. I'm satisfied with the sum assured amount. I have chosen the annual payment mode after 1 year, i will change the payment mode on a monthly basis.
    Was this review helpful? 0
    , rajahmundry
    Reviewed on Dec 05, 2019
  • ICICI Prudential
    ICICI Prudential Life Insurance
    "Not that much good Policy"
    0.5 1.0/5 "Really Bad"
    I took my life insurance policy from ICICI prudential and the agent cheated by saying the benefits. In this plan, i need to pay for 7 years with the amount of Rs. 50000. Once i paid the money, there is a lock in period of 8 years but the interest rates are getting less and i feel like end of the term i won't get any additional benefit.
    Was this review helpful? 1
    , tirupur
    Reviewed on Nov 26, 2019
  • ICICI Prudential Life Insurance
    "Not worthy"
    0.5 1.0/5 "Really Bad"
    Earlier i was having a life insurance policy from ICICI Prudential. Agent were explained me about the policy details. They said my money will get doubled after 5 years hence i have paid the premium amount of Rs. 25000 annually for 3 years and there is a lock in period for 2 years. Once i went to withdraw the policy i got Rs. 1000 extra.
    Was this review helpful? 1
    , tiruchirapalli
    Reviewed on Nov 25, 2019
  • ICICI Prudential Life Insurance
    "Good insurer"
    0.5 4.5/5 "Excellent!"
    I have taken term insurance with ICICI PRUDENTIAL on 4 years before. They have updated same policy so I discontinued old one and opened new policy. It is a term policy with tenure period of 30 years. I use to pay premium amount on annual basis of 18K. Agent has provided all the details and I received soft copy. One drawback with this insurer is their rates are high.
    Was this review helpful? 0
    , bangalore
    Reviewed on Nov 12, 2019
  • ICICI Prudential Life Insurance
    "Average Service"
    0.5 3.0/5 "Satisfactory"
    Taken my life insurance policy from ICICI Prudential one of my friend has recommended me about this policy. It was a systematic investment plan. I have paid the premium amount of Rs. 1,500 on every month. Total term period of policy is 3 years.
    Was this review helpful? 0
    , chennai
    Reviewed on Nov 08, 2019
  • ICICI Prudential Life Insurance
    "Daring policy"
    0.5 4.0/5 "Great!"
    My life insurance was taken from ICICI Prudential. I have a kid so that i have thought of investing them . ICICI people have suggested me a good product based on my investment amount. If i invest of Rs. 1 lakh per year for the payment of 6 years and the next 15 years, i don't need to pay any money after 21 years, i get some lumpsum sum assured amount. They are providing the life insurance policy worth of Rs. 10 lakhs for myself. They will give some ULIP when i pay the premium. Its a market based policy.
    Was this review helpful? 0
    , nellore
    Reviewed on Nov 07, 2019
  • ICICI Prudential Life Insurance
    "Good Service"
    0.5 4.0/5 "Great!"
    On 5 years before I have taken a life insurance from ICICI PRUDENTIAL. The policy is for 15 years. I am paying premium in the annual package the amount of 13 thousands which is nominal. It is a retirement policy for the amount of 15 lakhs. While getting a policy my agent has given an information about the policy details. It covers my whole family.
    Was this review helpful? 0
    , bangalore
    Reviewed on Oct 31, 2019
  • ICICI Prudential Life Insurance
    "Good "
    0.5 4.0/5 "Great!"
    I took term insurance policy with ICICI PRUDENTIAL on one year before , they have given clear details about benefits and are good. The agent has given hard copy documents on time. My premium is paying through credit card on monthly basis for 14 thousands. The tenure period for 20 years.
    Was this review helpful? 0
    , hyderabad
    Reviewed on Oct 24, 2019
  • ICICI Prudential Life Insurance
    "Average"
    0.5 4.0/5 "Great!"
    I have taken a life insurance in ICICI PRUDENTIAL on 6 months before. The policy is for 15 years. Now I am paying premium for 25 thousands rupees. While getting a policy my agent has given an information about the policy details, however there are some charges applicable.
    Was this review helpful? 0
    , saharsa
    Reviewed on Oct 14, 2019
  • ICICI Prudential Life Insurance
    "Better"
    0.5 3.0/5 "Satisfactory"
    My term insurance is with ICICI Prudential because of the good benefits. The tenure is 2years, if Incase any demise happened then nominee would be getting 2L from the insurer. I am paying monthly Rs.258 through ECS. The customer service is not up to the mark.
    Was this review helpful? 0
    , bangalore
    Reviewed on Oct 10, 2019
  • ICICI Prudential Life Insurance
    "Better Policy"
    0.5 5.0/5 "Blown Away!"
    ICICI prudential is providing me a best policy so i have taken them. Its ULIP (Unit Linked Insurance Policy) policy. I am paying the premium amount of Rs. 30000 every year. I pay the sum assured amount of Rs. 2.10 lakhs. I used to pay the premium through online.
    Was this review helpful? 0
    , dibrugarh
    Reviewed on Oct 04, 2019
  • ICICI Prudential Life Insurance
    "Good Policy"
    0.5 5.0/5 "Blown Away!"
    ICICI Prudential premium was less for my life insurance so i chosen. I am holding the policy for past 3 years and they are providing me a satisfactory coverage amount. This is a term policy. Its covers with the accidental cover and disability cover.
    Was this review helpful? 0
    , pune
    Reviewed on Oct 03, 2019
  • ICICI Prudential Life Insurance
    "Good policy"
    0.5 4.5/5 "Excellent!"
    My husband is working in ICICI Prudential so have taken 2life insurance policy. They are giving better benefits than others. I am not sure about the tenure details and premium because it has been dealt by husband. The payment mode is online.
    Was this review helpful? 0
    , thiruvananthapuram
    Reviewed on Sep 29, 2019
  • ICICI Prudential Life Insurance
    "Happy with the benefits"
    0.5 5.0/5 "Blown Away!"
    I have taken an accidental policy with ICICI prudential. They have insured me 1crore and the premium is very low which am happy. I have taken the policy last year and got the insurance paper on time. They are offering information time to time and the response was very nice.
    Was this review helpful? 0
    , hyderabad
    Reviewed on Sep 24, 2019
  • ICICI Prudential Life Insurance
    "Benefits need to be increased"
    0.5 3.5/5 "Pretty good"
    From ICICI Prudential I took term plan it has the premium Rs. 511 per month, if there is any accident at the time the family member get Rs. 10 lakhs of coverage. They gave me the acknowledge from their end but response is lacking and I feel its not good plan which has other benefits after the maturity.
    Was this review helpful? 0
    , bangalore
    Reviewed on Sep 22, 2019
  • ICICI Prudential Life Insurance
    "Good policy "
    0.5 4.0/5 "Great!"
    I want to all the financial portfolio to be with ICICI hence i am using all the services through ICICI so i took the term insurance policy from ICICI prudential. I am paying the premium amount of Rs. 10000 every year and this policy has coverage value of Rs. 50 lakhs. This covers upto 75 years of my age.
    Was this review helpful? 0
    , new delhi
    Reviewed on Sep 19, 2019
  • ICICI Prudential Life Insurance
    "Good"
    0.5 5.0/5 "Blown Away!"
    I am having a good relationship with ICICI BANK so I have taken life plan from ICICI Prudential. I need to pay the premium for 7 years and the maturity is 10 years. I am paying monthly 5K through auto debit and am not sure about the benefits. I got the insurance paper.
    Was this review helpful? 0
    , coimbatore
    Reviewed on Sep 17, 2019
  • ICICI Prudential Life Insurance
    "Very Good Policy"
    0.5 5.0/5 "Blown Away!"
    My company has provided me a life insurance policy from ICICI Prudential. Its a life insurance policy which gives for the customer who takes the loan. This policy has a coverage value of Rs. 10 lakhs. I'm paying the premium amount of Rs. 5000 and i have chosen the annual payment mode.
    Was this review helpful? 0
    , coimbatore
    Reviewed on Sep 10, 2019
  • ICICI Prudential Life Insurance
    "Secure life with a term policy"
    0.5 4.0/5 "Great!"
    Bought my term plan from ICICI Prudential and i have closed the fore-closed policy from ICICI prudential which is a pension policy and wealth plus hence i have chosen the term plan. It was a ULIP plan earlier. In this ICICI terms, critical illness also covered. I am satisfied with the coverage value. I need to keep a balance in my account when they are taking a premium.
    Was this review helpful? 0
    , mumbai
    Reviewed on Aug 27, 2019
  • ICICI Prudential Life Insurance
    "Not recommendable policy"
    0.5 2.0/5 "Expected more"
    The money which i invested its not in a growth mode hence i won't recommend the Life insurance policy from ICICI Prudential. That time I was an agent for ICICI thats the reason, i have taken this policy. I am paying the premium amount of RS. 14000 in a yearly basis. Total sum assured amount is Rs. 2 to 5 lakhs. No one has contacted me from ICICI. This is a market based policy.
    Was this review helpful? 1
    , mumbai
    Reviewed on Aug 27, 2019
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