ICICI Pru iProtect Return of the premium | AFN News
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ICICI Prudential Life Insurance launches a new term insurance plan: ICICI Pru iProtect Return of Premium
Posted on December 28, 2021
- 105% return on premiums paid at age 60 or 70 or at contract maturity
- One of the most innovative, customer-centric term plans with self-adjusting life coverage, basic changing life stages, to meet customer requirements
- Possibility of covering against 64 serious illnesses
Bombay : ICICI Prudential Life Insurance has launched an innovative term insurance product ‘ICICI Pru iProtect Return of Premium’, a customer-centric proposition offering life stage coverage in which the amount of life coverage is automatically adjusted according to the stages of the customer’s life.
The ICICI Pru iProtect premium return offers a 105% return of all premiums paid in the event of survival, in addition to providing coverage against 64 critical illnesses, one of the highest in the industry. It offers two variations – Life Stage Cover and Level Cover.
Life Stage Coverage is an innovative feature that automatically adjusts sum insured or life insurance coverage based on clients’ stage of life. It allows clients to increase their life coverage when it matters most, as responsibilities increase in the early stages. In addition, it automatically reduces life coverage as responsibilities decrease in the later stages of life. It is important to note that the premium remains constant throughout the life of the policy. This is ideal for clients who are looking for adequate life insurance coverage at all stages of their life. In addition, it offers clients the option of recovering 105% of premiums at an early age of 60 or 70 with continued protection until the end of the policy term or at maturity, depending on the client’s choice. .
The Level Cover variant is ideal for people looking for a term insurance plan that offers a survivor benefit as well as a fixed death benefit.
Mr. Amit Palta, Director of Distribution, ICICI Prudential Life Insurance, said, âOur innovative protection product, ICICI Pru iProtect Return of Premium, promises adequate protection at all stages of life with fixed premiums and a 105% return of all premiums. We believe this product answers the questions customers have about the survival benefits. Our approach to product development is to integrate customer needs as product characteristics. We will continue to take advantage of cutting-edge technological solutions to provide financial security to more of the country’s population. This ties in with our vision of building a sustainable institution that responds to clients’ long-term protection and savings needs with sensitivity. “
With the increase in cases of lifestyle-related illnesses such as cancer and heart conditions, it is essential to receive a critical illness benefit. Therefore, ICICI Pru iProtect Return of Premium offers customers the possibility of covering themselves against 64 critical illnesses, one of the highest in the industry.