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ICICI Prudential Group Term Plus Insurance Plan and Policy

ICICI Prudential Group Term Plus Insurance Plan and Policy - The ICICI Pru Group Term Plus offerslife insurance cover to all the members of the insured’s group. In case of death of the insured, the loved ones will be receiving a lump sum amount of money that would ensure their financial security. As the main policy holder, the lump sum amount can be chosen by the insured which would be given to the nominee after his/her demise.

Eligibility - ICICI Prudential Group Term Plus Insurance Plan and Policy

In order to be eligible for the ICICI Pru Group Term Plus, an individual must meet the following criteria:

Minimum age at entry 15 years
Maximum age at entry 79 years
Minimum assured sum Rs.5,000 per member
Minimum term of the policy 1 year
Maximum policy term Not Applicable
Minimum age at maturity Not Applicable
Maximum age at maturity Not Applicable
Minimum premium payment Rs.10,000

Key features - ICICI Prudential Group Term Plus Insurance Plan and Policy

The ICICI Pru Group Term Plus comes with a myriad of features. These features are as follows:

Members under the plan
  • Formal Group – 10 members
  • Informal Group – 50 members
Minimum life cover offered Rs.5,000 for every member
Frequency of paying premiums Premiums can be paid on monthly, quarterly, half yearly and annual basis
Tax benefits Avail tax benefit on premiums and the benefits listed under this policy according to the current Income Tax Laws

Benefits - ICICI Prudential Group Term Plus Insurance Plan and Policy

ICICI Pru Loan Protect Policy comes with several benefits. These benefits are as follows:

  • All the members under the ICICI Pru Group Term Insurance scheme can enjoy life cover at a very low cost.
  • A life cover can prove to be a very strong retention tool and a measure for loyalty building for the employers.
  • Tax deductions can be availed on the premiums that are paid as per the prevalent tax laws.
  • The administration process for deletion and addition of members is very simple.
  • This particular plan is ideal for the employees as it provides life cover to secure the future of their close ones.
  • In order to avail this coverage, there is no need of a medical examination. However, the life cover will be up to the limit of free cover. The maximum amount of life cover that can be offered without any medical test is known as free cover limit. This particular limit will differ from one group to another group.
  • It is ideal for employers as it offers coverage to your employees in the event of an unfortunate event.
 

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