ICICI Prudential Life Insurance Co. Ltd. was established in the year 2001. This company provides an extensive size range of insurance products that are designed for financial protection to long term savings, to meet the requirements of the policyholders in diverse stages of their life.
ICICI prudential life insurance plans help in ensuring the long-term financial stability of the policyholders, as well as their dependents. In addition to serving as a long-term investment, life insurance plans are also designed to provide necessary financial support to dependents in case of the death of the policyholder.
ICICI Life Insurance plans include endowment plans, term insurance plans, retirement plans, etc. to meet the financial requirements and concerns of the diverse portfolio of the customers.
Listed below are some key features of the plans offered under ICICI Prudential life insurance:
ICICI Prudential offers the following sort of life insurance plans:
The term insurance policies offered by ICICI life insurance provide coverage for the person assured for a particular term that is specified in their policy. These plans provide payouts to nominees in case the policyholder meets an untimely death. ICICI Prudential Life Insurance Company offers the following term plans:
Also referred to as ULIPs, these policies provide returns based on the stock market. ICICI prudential life insurance plans are perfect for people desiring to increase their wealth. The ULIPs provided by ICICI Prudential are:
Such ICICI life insurance plans provide the benefits of savings, which implies that premiums that people pay shall be returned to them with interest. People can also select the frequency and sum they desire to receive at a particular time with these ICICI Prudential Life Insurance policies. The Traditional Savings plans offered by ICICI Prudential are:
These policies are designed to help people maintain their living standards beyond the employment phase. Various retirement plans offered by ICICI life insurance provide diverse payout options. These retirement plans are:
These ICICI prudential life insurance plans are specially designed for small and large organizations that desire to provide their employees with a host of benefits. These benefits include health insurance, leave encashment, annuity, term insurance, and so on. This company provides specific dedicated group plans like:
These ICICI life insurance plans cater to the insurance and savings requirements of the rural populace. The rural plans coming under the portfolio of this firm are:
To apply for ICICI life insurance people have to provide with the following KYC documents:
Exclusions for waiver of ICICI Prudential Life Insurance premium on permanent disability are:
Exclusions for the accidental death benefit in ICICI Life Insurance policies are:
ICICI life insurance policies significantly help policyholders to be assured of the financial security of their selves, as well as of their family members. These plans are designed to enable people to make sure that the living standard of their near and dear ones are maintained, and their dreams and aspirations are not hampered, even in the scenario of the unforeseen death of the policyholder.
A wide range of low-cost life insurance plans are offered by ICICI; some of them provide dual benefits of life coverage and investment. Moreover, by opting to invest in ICICI life insurance plans, people can enjoy tax benefits under Section 80C and Section 10(10D) of the Income Tax Act, 1961.
The life insurance plans offered by ICICI can easily be bought through any of their local branches. People may also purchase certain ICICI plans online at PaisaWiki.com. Certain relevant documents would have to be provided by the policy buyer when planning to invest in such plans.
ICICI Prudential Life Insurance follows a straightforward 3-step process for claim settlement. Take a look at the following steps:
Step 1: Reporting the claim: To have a claim settled, the claimant should firstly report the claim to the insurer. This can be done in multiple ways. A claimant may submit their claim online, or even visit their branch, make an email/SMS claim, or call the ICICI Claimcare helpline.
As the report is done, the claimant would have to submit a written settlement request with the Claims Cell Office to get the claim registered formally.
Step 2: Reviewing the claim: After the submission of the claim, a dedicated Claimcare team would access the relevant claim details. In case they feel that the documents submitted are not up to the mark, they shall request additional documents within eight days.
The team shall also assist the claimant in case they face any kind of problem during the process of claim settlement.
Step 3: Settlement: As the first two steps of claim settlement are completed successfully, the company shall settle the claim within 12 days. To reduce documentation, the company typically uses transfers to settle the sum.
ICICI Life Insurance Company provides the facility of online plan renewal to all customers. They have to follow the steps mentioned below in this policy renewal process:
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Ans. You can easily register yourself on the official website of PaisaWiki.com to check your ICICI Prudential life insurance policy status. Your policy number would be needed to check the ICICI prudential life insurance policy status.
Ans. Depending on the plan and premium payment mode chosen by you, the grace period for ICICI Prudential life insurance premium payment would be 15 or 30 days.
Ans. Here are the options through, which you can make your ICICI Life Insurance premium payment:
Ans. For claim settlement where there is no investigation required, the ICICI Prudential Life Insurance Company would ideally pay benefits within 30 days from the date of receipt of the required claim documents.
Ans. Depending on the convenience of the claimant, the ICICI Prudential Life Insurance Company would pay out the claim payments through cheque or ECS.