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Why ICICI Prudential is the smart choice for Term Insurance Policy?

Term insurance is an important necessity for everyone. Term insurance is a basic form of insurance that provides your loved ones with a much needed financial security in case of an unfortunate event.

By nidhimehraPublished 3 years ago 3 min read
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Term insurance is an important necessity for everyone. Term insurance is a basic form of insurance that provides your loved ones with a much needed financial security in case of an unfortunate event. It is a must-have insurance plan to keep your family’s every dream secured even when you are not around. However, it is equally important to choose the right term insurance plan with the right amount of coverage.

Everybody loves a winner. And this holds true to term insurance selection also. Choosing the winner for financial security is a smart move. Yes! We are talking about ICICI Prudential term Insurance policy. ICICI Pru iProtect Smart Term Insurance Plan is the best term insurance online that has been awarded as ‘product of the year’ by Nielson for the financial year 2019. Let’s take a look at some of the reasons that make ICICI Prudential term insurance policy a smart choice.

Here is why ICICI Prudential is the smart choice for term insurance policy

Higher coverage at an affordable premium

ICICI Prudential offers the best term insurance online that offers you higher life coverage in a cost-effective way. This can help replace several years of ‘loss of regular income’, repay outstanding debt or to secure future dreams of a family in case of your untimely demise. As the plan is available online there are no intermediary charges which also contributes to a lower premium. It is always wise to do a cost-benefit analysis and choose an affordable plan as term insurance offers you no maturity benefits.

Convenience

ICICI Prudential term insurance policy can be purchased online with some simple steps. You can visit etmoney.com to get a quote, customise ICICI Prudential term insurance policy and purchase them on the same platform conveniently.

Quick claim settlement

ICICI Prudential iProtect is known for offering guaranteed one-day claim settlement. Simple ways to claim and quick response can definitely make the entire claim settlement process hassle-free for your loved ones, in case the need for a claim arises. ICICI Prudential is also known for excellent client servicing. The company has also been awarded as ‘Customer Service Company of the Year’ at India Insurance Summit and Awards, 2020.

Customisation

It is a smart and wise decision to go with a term plan that suits different needs and allows customisation. You can customise ICICI Prudential term insurance policy based on your requirement and future goals of your family. Etmoney.com helps you get a personalised plan. You can choose from different term insurance coverage options offered by ICICI Prudential and personalise the plan based on your need. Following are the options available:

Basic term plan:

Basic plan offers life cover in case of an untimely demise.

Term insurance with critical illness cover:

Along with life cover, this plan option gives you coverage for 34 critical illnesses such as heart attack and cancer, etc. Terminal illness benefit offered by ICICI prudential term plan also includes AIDS.

Term insurance with accidental death cover:

This option offers you life cover along with accidental death benefit. Which means the additional benefit is payable in case of death due to an accident.

Term insurance with limited pay:

If you are looking for a term policy that requires you to only pay for a few years and cover you for the entire policy term, then this option is a perfect choice.

Flexible payouts

The flexible payout options offered by the ICICI Prudential term insurance policy makes it the best term insurance online. You can choose Lump Sum, income option (pays monthly), increasing income or lump sum plus income option depending on your family’s future needs.

Tax benefits

The premium paid on ICICI Prudential term insurance policy qualifies for tax deduction under Section 80C of the Income Tax Act, 1961. Critical illness benefits also offer additional tax benefits under Section 80D of the IT Act. Along with the tax benefits, the lump sum compensation payable to your family in case of an unfortunate event is also tax-free as per Section 10 (10D) of the IT Act.

As ICICI Prudential offers various amazing benefits and flexibility in its term plan at an affordable amount of premium, it is definitely a smart choice for the family's future financial security. Visit etmoney.com to get a quote for best term insurance online.

personal finance
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