Transcript Pure Protection Plans - ICICI Prudential LIFE Insurance

Twin Advantage
of Saving and Life Cover
The Plan



Ideal for those who want to accumulate funds on a
regular basis while enjoying insurance protection.
Fixed term policy that combines savings with life
cover.
Premium has to be paid regularly during the chosen
term.
The Benefits

On Maturity
 At the end of the term , you get the full Sum Assured and
guaranteed additions @3.5% compounded annually for the
first 4 years as well as the vested bonuses.

On Death
 On death of the life assured up to age 7 years, the basic
premium will be returned without interest.
 On death of the life assured after age 7 years, the
beneficiary will get the sum assured, the guaranteed
additions @ 3.5% compounded annually for the first 4 years
and the vested bonuses.
Special Feature

Extended Life Cover (ELC)

Covers you for an additional five years after maturity of
the policy
 Coverage up to 50% of the sum assured, without
medical examinations
 This is free of cost. No extra premium needs to be paid
for the same.
Added Benefits


Loans : Available after 3 premium paying years.
Surrender Value

Policy acquires a surrender value after 3 premium
years.
 The guaranteed surrender value is 35% of {All
premiums paid – (first year’s premiums + rider
premiums + extra premiums)}
Riders

Added protection to your family against any health
hazards or unfortunate eventualities.

Critical Illness Rider (Accelerated)
 Major Surgical Assistance Rider
 Accident and Disability Benefit Rider
 Accident Benefit Rider
Eligibility
Age : 0 – 60 years
 Minimum cover ceasing age : 18 years
 Maximum cover ceasing age : 70 years
 Minimum Sum Assured : Rs. 50,000
 Term : 10 – 30 years
 Minimum Premium : Rs. 6,000 p.a.

Save n’ Protect – At a glance
Minimum Sum Assured
Rs. 50,000 (Fifty Thousand)
Maximum Sum Assured
Rs. 1,00,00,000 (One Crore)
Minimum Premium
Yearly - Rs. 6,000, Half-yearly - Rs. 3,000 Monthly - Rs. 500
Minimum Age At Entry
0 Years
Maximum Age At Entry
60 Years
Minimum Maturity Age
18 Years
Maximum Maturity Age
70 Years
Minimum Term
10 Years
Maximum Term
30 Years
Sum Assured In Multiples Of
Rs. 1,000
Yearly, Half-yearly and Monthly. The monthly mode is only though ECS
(Electronic Clearing Service)
Premium Payment Frequencies
Premium Payment Period
Benefit Coverage Period
Entire Term Of The Policy
Entire Term Of The Policy + 5 Years After Maturity (50% of Sum
Assured Under Extended Life Cover)
Save n’ Protect – At a glance
Death Benefit During The Term Of
The Policy
< 7 Years Of Age
> 7 Years Of Age
During Extended Life Cover
Maturity Benefits
Premiums Paid Will Be Refunded
Sum Assured + Guaranteed Additions @ 3.5% Compounded Annually
(For The First 4 Years) + Vested Bonuses (If Any)
50% of Sum Assured In Case The Policyholder Dies During The 5 Years
Extended Term
Sum Assured + Guaranteed Additions @ 3.5% Compounded Annually
(For The First 4 Years) + Vested Bonuses (If Any)
Surrender / Paid Up
After 3 Full Years Premiums Have Been Paid
Policy Loans
Riders Allow ed
Allow ed After The Surrender Value Period
Accident & Disability Benefit Rider (ADBR)
Accident Benefit Rider (ABR)
Critical Illness Benefit Rider (Accelerated) - CIBR
Remarks
Notes
Major Surgical Assistance Rider - MSAR
Extended Life Cover Will Be Given Only If The Policy Is In Force For The
Full Sum Assured At Maturity
* Age Is Defined As Age Nearer Birthday
* The Premium Table Applies To Male Lives. In Respect Of Female Lives,
The Rates Will Be Those Applicable To Male Lives Tw o Years Younger.
Mode Of Payment Discount
Annual - 3% Of Premium
Half-yearly - 1% Of Premium
Monthly - There Is A Loading Of 5% On The Premium Except If The
Payment is Made By ECS
Large Sum Assured Discount
Less Than 1,00,000 - Nil
1,00,000 - 1,49,999 - Rs. 3.70 Per 1000
1,50,000 - 1,99,999 - Rs. 4.90 Per 1000
2,00,000 - 4,99,999 - Rs. 5.50 Per 1000
5,00,000 And Above - Rs. 6.50 Per 1000
Underwriting Guidelines
Initial Requirem ents
M edical Requirem ents
JET (Non-m edical)
Schem e
Rating factor for SA
Keym an Insurance
Proposal Form
ACR
Age Proof (Non Std acceptable with extra premiums and
restrictions)
Minor Lives Questionnaire (If age of LA is between 0 and 14)
Deposit receipt
As applicable under special medical examination chart if
the proposal is not covered JET scheme.
Allowed under JET (non - medical) scheme
1
Allowed