ICICI Prudential Pure Protect Classic Plan

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ICICI Pru Pure Protect Classic

	Objective		This is a plain term insurance policy that aims to provide financial stability to a family, in the event of death of the breadwinner.
What does it do?		This term insurance policy pays the sum assured in case of unfortunate demise of the life assured. This plan offers two optional riders to enhance the scope of cover- accidental death & disability and waiver of premium. Accidental death and disability benefit is paid if life insured dies in an accident. If the insured meets with an accident while travelling in a public transport vehicle like bus or train, the sum assured will be doubled. In case of total and permanent disability, insured will receive 10 per cent of the rider's sum assured, for 10 years annually. The waiver of premium rider will pay the remaining premiums of the policy, in case of total and permanent disability, within 180 days of accident to keep the policy active till maturity.
Pros		The policy offers discount on higher sum assured. Premium paid towards this policy qualify for tax deduction under section 80C of Income Tax Act.
Cons		The sum assured is limited to Rs 25 lakhs.
Suited for		Those who prefer to buy a policy via agents can find this term plan beneficial.
Our View		This is a decent policy with optional riders. These riders, if taken, will widen the scope of coverage.
Eligibility
Entry Age (years)
Minimum		18
Maximum		65
Maximum Maturity Age (years)		75
Policy Term (years)
Minimum		10
Maximum		30
Sum Assured (Rs)
Minimum		Subject to minimum premium limit
Maximum		Upto 25 lakh
Minimum Premium (Rs)
Yearly		2400
Single		NA
Premium Payment Frequency		Yearly, Half-yearly, Quarterly and Monthly
Premium Payment Term		Equal to policy term
Premium Factor (multiply with annual premium)		NA
Policy Cover		Cover remains fixed for the tenure of the policy
Other Features
Free Look Cancellation		In case, you are not satisfied, you may choose to cancel the policy within 15 days of receiving the policy documents. Upon such cancellation, you will be paid back the premiums, minus the cost of stamp duty, medical reports and proportionate premium for the period for which the risk was covered.
Grace Period		You are allowed to pay premiums within 30 days from the due date for yearly, half yearly and quarterly mode; 15 days for monthly mode. If a due premium is not received within the grace period of 30 days, your policy will lapse and the life insurance cover, including the rider cover, if any, will be terminated.
Lapsed Policy Reinstatement		You can reinstate your lapsed policy any time (within 2 years from the due date of the first unpaid premium) by paying all the due premiums and undergoing underwriting requirements, if any.
Tax Benefits		Section 80C, 10 (10D) of the Income Tax Act, 1961 would apply. Premiums paid for Dread Disease Rider may qualify for deduction under Section 80D of the Income Tax Act, 1961.
Exclusions		In case of death by suicide during the first policy year, or within one year from the date of reinstatement, no death benefit is payable. Further, if the Life Assured under the policy, whether medically sane or insane, commits suicide, within one year of exercising the option to increase the Sum Assured, then the amount of increased Sum Assured will not be considered in the calculation of the Death Benefit
Customer Service
Address		ICICI Pru Life Towers, 1089 Appasaheb Marathe Marg, Prabhadevi, Mumbai 400025. Tel.: 40391600
Mail To		lifeline@iciciprulife.com
Call On		18602667766 between 9 am to 9 pm; Monday to Saturday (except National holidays)
SMS		SRV to 56767
Additions to the Plan
Available Rider(s)		Accidental Death and Disability Rider (ADDB): covers death and disability due to an accident Waiver of Premium: In case of total and permanent disability within 180 days of accident, the company pays remaining premiums and the policy remains in force till maturity.
Rider Conditions
Entry Age (years)
Minimum		18
Maximum		55
Maximum Maturity Age (years)		75
Rider Term (years)
Minimum		10
Maximum		30
Sum Assured (Rs)
Minimum		50000
Maximum		1000000
Rider Premium (Rs)		Accidental Death and Disability Rider costs Rs 0.90 per Rs 1000 Sum Assured irrespective of age of the policyholder. Cost of Waiver of premium Rider is proportinate to the age of policyholder. For instance, it costs Rs 1.25 per thousand of Sum Assured for a 30 year old healthy male and Rs 1.35 per Rs 1000 Sum Assured for a 40 year old for policy term of 10 year whereas.

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