Life Insurance – FAQs

• Instant policy issuance with minimal paperwork
• Lower premiums compared to offline plans
• Easy comparison of plans and benefits

You can update details through:

• The ICICI Pru Life Insurance website
• Customer service helpline
• Visiting an ICICI Bank branch

No, once you buy a life insurance policy, the premium remains fixed throughout the policy term. However, if you buy a new policy later, the premium will be higher due to increased age.

You can pay via:

• Net banking, credit/debit cards
• UPI, mobile wallets
• Auto-debit from your bank account
• Visiting an ICICI Bank branch

The claim process involves:

• Informing the insurer – Register the claim online, via customer service, or at a branch.
• Submitting documents – Death certificate, policy documents, nominee details, and KYC.
• Claim assessment – The insurer verifies the claim.
• Payout – If approved, the nominee receives the sum assured.

Once the claim is approved, the payout is made as per the chosen option – lump sum, monthly income, or combination of both.

Life insurance is a contract between you and the insurer, where the insurer provides a financial payout to your nominee in case of your unfortunate demise during the policy term. Some policies also offer maturity benefits.

Life insurance plans are broadly classified into:

• Term Insurance: Provides pure life cover with no maturity benefit.
• Whole Life Insurance: Covers you for life (up to 99 or 100 years).
• Endowment Plans: Offers life cover along with savings/maturity benefits.
• ULIPs (Unit Linked Insurance Plans): Combines life cover with market-linked investment.
• Retirement/Pension Plans: Helps build a retirement corpus with regular payouts.

Claims can be reported through:

• Branch: Submit the documents at the nearest ICICI Prudential Life Insurance branch. To locate the nearest branch, visit https://www.iciciprulife.com branchlocator
• Website: Upload the documents online in claims section of the website www.iciciprulife.com> claims > file a claim
• WhatsApp: Type ‘Claim' on WhatsApp number 9920667766 and get an option to check the claim status
• Mail us: Courier the documents to ICICI Prudential Life Insurance Limited. 9th Floor, B Wing, office No. 906, BSEL Tech Park, Opp. Vashi Station, Section 30,Vashi, Navi Mumbai 400706.

Life insurance provides:

• Financial security for your family
• Debt repayment support (e.g., home loans)
• Income replacement in case of an unfortunate event
• Long-term wealth accumulation (for investment-based policies)

If you disagree with a claim decision, you can escalate it via:

• Contact the Claims Department via email or phone
• Visit the nearest ICICI Prudential Life branch
• Write to the Grievance Redressal Team

The earlier you buy, the lower your premiums. Ideally, buy a term plan as soon as you start earning to get maximum coverage at an affordable cost.

A nominee ensures that the life insurance payout reaches your intended beneficiary without legal complications.

Your life cover should be at least 10-15 times your annual income. Consider factors like existing liabilities, family expenses, future goals, and inflation.

• Family members (spouse, children, parents)
• Legal heirs
• If nominating a minor, an appointee must be assigned until they turn 18.

ICICI Pru iProtect Supreme is a term insurance plan offering:

• Life Cover: Financial security for your family
• Accidental Death Benefit: Additional payout in case of accidental death
• Critical Illness Benefit: Coverage upto 60 major illnesses
• Terminal Illness benefit: 100% return of premium on diagnosis of terminal illness.

Yes, but an appointee (guardian) must be assigned to manage the funds until the nominee turns 18.

• High life cover at affordable premiums
• Option to enhance coverage with riders
• Tax benefits under Section 80C & 10(10D)
• Flexibility to receive benefits as a lump sum or monthly income

An appointee is a legal guardian responsible for handling the insurance proceeds on behalf of a minor nominee.

You can buy life insurance online through ICICI Bank’s website or visit the nearest branch. The process includes:

• Selecting the plan
• Choosing coverage amount and riders
• Providing personal and medical details
• Making the premium payment
• Completing medical tests (if required)
• Receiving the policy document

You can link your policy by updating your details online or visiting a branch.

Life insurance is a contract between you and the insurer, where the insurer provides a financial payout to your nominee in case of your unfortunate demise during the policy term. Some policies also offer maturity benefits.

Life insurance plans are broadly classified into:

• Term Insurance: Provides pure life cover with no maturity benefit.
• Whole Life Insurance: Covers you for life (up to 99 or 100 years).
• Endowment Plans: Offers life cover along with savings/maturity benefits.
• ULIPs (Unit Linked Insurance Plans): Combines life cover with market-linked investment.
• Retirement/Pension Plans: Helps build a retirement corpus with regular payouts.