Buy ₹ 1 crore Term Insurance Premium Online in 2022 (2023)

What is ₹1 Crore Term Plan?

A 1Cr Term Insurance is a term policy with a sum assured of ₹ 1 Crore which is paid to the nominee of the plan in the unfortunate event of the death of the policyholder during the policy term. Such a high life cover^< ensures that the life insured’s family members are financially secure and are able to live their life comfortably without any compromises.

How does 1 crore term insurance plan work?

DETERMINE IDEAL LIFE COVER

Determining how much life cover you need is the first step to take when buying a term insurance plan. This value depends on your family's current living costs, pending loans, and future aspirations. However, before zeroing in on a certain amount, you need to factor in inflation. The prices that you pay for items of daily necessities today are likely to increase in a few years.
Find out the current value of future costs using our Calculator. It can give you an idea about the amount needed to secure your loved ones' finances in your absence.

FUTURE PLANNING

Considering the historical inflation rates, ₹1 crore is a large enough sum to protect your family's future. Also, if ₹1 crore term life insurance plans typically provide this high cover at very competitive premium rate. This is possible because term plans are pure protection plans. Having no investment component, your entire premium goes into securing your life cover. Hence, these plans enable you to safeguard your dependents from financial shortfalls in case of an eventuality.
Find out the current value of future costs using our Calculator.

You should buy at least ₹1 crore term life insurance policy.

Did you know?

Furthermore, over the years, ICICI Prudential life has maintained a Claim Settlement Ratio of over 95%; the FY2021-22 figure being 97.8%^~. It assures you of a speedy settlement^* of your nominee's claim^>. Hence, you can rely on this insurer to ensure that your family members live the life you want for them even in your absence.

Affordable Premiums²

1 Day Claim Settlement^*

34 Critical Illnesses Cover^## (Optional)

Accidental Death Cover (Optional)⁹

Tax Benefits^{^}

Terminal Illness Benefit³

Permanent Disability Waiver⁵

Right Information.Faster Processes

Right Information. Faster Processes

Get 10% discountthroughout the policy term

Discount continues even if you discontinue service with ICICI Group

Please wait while we are authenticating your information...

Premium Break Up

Tobacco Consumption

Premium Frequency

Keep these documentshandy!

Keep these documents handy!

1. Recent photograph
2. Aadhaar Card (front & back)/Driving License/Passport (front & back)
3. Income Proof (required only for Sum Assured & ₹50 lakhs)
   1. If you are salaried – latest Form16 / last 6 months bank statement where salary gets credited / latest 3years ITR / latest 3 months salary slip
   2. If you are self-employed – last 3 years ITR with computation ofincome

GIVE US A CALL

For buying a policy online (tollfree)
1800 267 9777
Call centre hours 9:00 a.m. - 9:00 p.m on alldays

To check status of policy boughtonline
1800 267 9997
Call charges apply. Timings- 10:00 a.m. to 7:00p.m.
Monday toSaturday (except national holidays)

What is a Term Plan?

When should I buy a term plan?

The earlier you buy a Term Plan, the better it is as thepremiums arelower when you are young. Also, with current lifestyles and increasing instances ofillnesses, itmay become difficult to get a term plan later, as you grow older

Who should buy a term plan?

Parents
If you have children or dependent adult family members and areresponsible forpaying for their needs and upkeep then you must buy a term plan

Young individuals
The premium for term insurance increases with age. So it makessmartsense for young professionals without financial liabilities to buy term plan early – thisway theyget lower premium rates and the rates will not increase over time

Newly married couples
A term plan can help you create a financialsafety netfor your growing family so that their dreams are never compromised,even when you are notaround

Home loan repayment
In case of an unfortunate incident, the responsibility ofpaying theoutstanding loans should not fall on your loved ones. In case of your unfortunate demise,the deathbenefit payout from the term plan can be used by your family to repay your loans

How much life cover do I need?

The life cover you need depends on your current annual income. We recommend that a lifecoverequivalent to 10-15 times your annual income is sufficient to provide for a safe future foryourfamily

If budget is a problem, you can go for a monthly premium payment option over a yearlycommitment.However, it is important to have a sufficient life cover so that your family’s financialsecurity isnot compromised

What is limited pay option?

Which payout option should I choose?

ICICI Pru iProtect Smart has four payout options:

1. Lump sum - The entire life cover is payable as a lump sum (single payment)


2. Regular income - 10% of the life cover is payable every year for 10 years.This ispaid in equal monthly installments


3. Increasing Income - The life cover is payable in monthly installments for 10yearsstarting with 10% of the life cover in the first year. The income amount willincreased by10% per annum thereafter


4. Lump sum + Income - You have the flexibility to split the life cover amountthat youwant your nominee into two parts – one part of the life cover as a lump sum and theremaining life cover will be paid in equal monthly payments for 10 years

What is Accidental Death benefit⁹ (optional)?

In case the policyholder dies due to an accident during thepolicyterm, the nominee/legal heir will be paid an extra amount. A maximum cover of ₹2 croreisavailable with this benefit, which you can add during purchase or even after the purchase

Anil
Age30

Anil chooses a life cover of ₹1 crore withAccidental Deathbenefit cover of ₹50 lakh.

Anil
Age45

Anil dies due to an accident and his nominee gets₹1.5crore

What is Critical Illness benefit^##(optional)?

What is Inbuilt Terminal illness benefit³?

If the policyholder is diagnosed with a terminal illness likeAIDS,full sum assured is paid out immediately. This is an in-built benefit and thus, comes at noextracost

Anil
Age30

Anil buys ICICI Pru iProtect Smart with a life cover of ₹1crore

Anil
Age45

He is diagnosed with a terminal illness. His entirelifecoveramount is paid to him.

What is Inbuilt Permanent disability benefit⁵?

The policyholder does not need to pay future premiums in caseofpermanent disability due to an accident. The life cover continues for the entire policyterm. Thisis an in-built benefit and thus, comes at no extra cost

Ajay
Age32

Ajay buys ICICI Pru iProtect Smart with a life cover of 30 yearsand apolicy term of 30 years

Ajay
Age45

Ajay meets with an accident and he was not able tomove,climb orbend. The company waived off all his future premiums and the life insurancecover stayedin force for the entire policy term.

What is a Term Insurance calculator?

A term insurance plan offers you a life cover in exchange for a premium. This premium isdirectlyproportional to the sum assured and tenure of your plan. A high sum assured and long tenuremayresult in a high premium and interfere with your budget. On the other hand, a low sumassured andshort tenure may get you a low premium but may not be adequate for your family’s futurerequirements.

Ascertaining the right premium, sum assured, and tenure can beconfusing.But a term plan calculator can help you.

A term insurance calculator is anonline toolthat lets you calculate term insurance premium for your plan. You can use this calculatorfree ofcharge and understand the estimated premium amount of your desired plan. Using a terminsurancecalculator is simple and completely hassle-free. All you need to do is add a few detailslike yourname, age, annual income, etc., and the calculator will calculate term insurance premium foryou.

How does a term insurance calculator work?

The term insurance calculator takes into account details like your age,lifestylehabits like smoking or drinking, income, age, gender, policy term, sum assured, riders, etc.andcalculates an estimated premium amount for the chosen plan. You can also choose premiumpaymentoptions like monthly, half-yearly, annual, etc., to get a clear picture of the premiumamount foreach option.

The term plan calculator gives you estimate based on the informationyoufeed. So, if you change any of the information, the calculator will show you a differentresult.

What factors determine your term plan premium?

Steps to use the term insurance premium calculator

You can follow these steps when using a term insurancecalculator:

1. Enter your name, email address, and phone number
2. Enter your date of birth and gender
3. Enter your annual income
4. Mention lifestyle habits like smoking, consuming tobacco or alcohol (if any)
5. Enter policy related details like the life cover amount, policy tenure, premiumpaymentmethod, frequency of premium payment (monthly, half-yearly, annual, etc.)
6. Choose riders like the terminal illness benefit, the critical illness benefit, thepermanentdisability benefit, or the accidental death benefit. Riders are optional, but youcan addthem if you want additional protection

The term plan calculator will provide you with an estimated premium amount instantly. If youare notsatisfied with the result, you can tweak the information, like increase or decrease the lifecoveramount, shorten or extend the policy tenure, add or remove riders, etc.

Tobacco

Annual Income

Mobile Number

This helps us save your plan details, so that you can pick up from where you left off.Werespect your privacy and won't share them with anyone else.

Accidental Death Cover⁹

Accidental Death
Cover⁹

34 Critical Illnesses Cover^##

34 Critical
Illnesses Cover^##

1. Cancer of specified severity
2. Angioplasty
3. Myocardial Infarction (First Heart Attack - of specifiedseverity)
4. Heart Valve Surgery (Open Heart Replacement or repair ofHeartValves)
5. Surgery to aorta Heart and Artery Benefit
6. Cardiomyopathy
7. Primary (Idiopathic) Pulmonary hypertension
8. Open Chest CABG
9. Blindness
10. End stage Lung Failure (Chronic Lung Disease)
11. End stage Liver Failure (Chronic Liver disease)
12. Kidney Failure Requiring Regular Dialysis
13. Major Organ/ Bone Marrow Transplant
14. Apallic Syndrome
15. Benign Brain Tumour
16. Brain Surgery
17. Coma of specified Severity
18. Major Head Trauma
19. Permanent Paralysis of Limbs
20. Stroke resulting in permanent symptoms
21. Alzheimer's Disease
22. Motor Neurone Disease with Permanent Symptoms
23. Multiple Sclerosis with Persisting Symptoms
24. Muscular Dystrophy
25. Parkinson’s Disease
26. Poliomyelitis
27. Loss of Independent Existence
28. Loss of Limbs
29. Deafness
30. Loss of Speech
31. Medullary Cystic Disease
32. Systematic lupus Eryth with Renal Involvement
33. Third degree Burns (Major Burns)
34. Aplastic Anaemia

• A shorter application form which can be completed quickly

• Waiver of required documents, wherever applicable

Consistent
claim settlement ratio

Dear Customer!

Dear Customer!