ICICI Pru Loan Protect Plus
- Death Benefit Options
- Flexible Policy Terms
- Life Cover Options
ICICI Pru Loan Protect Plus Plan is a simple term insurance plan, specially designed to manage the risk associated with ongoing loan amounts. The plan is crafted in a way to protect the policyholder and his family from the burden of the loan, in case they are unable to pay the loan due to an unforeseen situation such as death or accident.
In the ICICI Pru Loan Protect Plus plan, a lump sum is payable to the policyholder or their family to fulfill the immediate liabilities. The plan offers comprehensive plan benefits options which cover critical illness, accident cover, and disability cover. Let us explore the plan more in the later sections of the article.
Here are some benefits of this plan:
Minimum Age - 18 years Maximum Age - 65 years
Maximum Maturity Age - 70 years
Minimum term - 5 years Maximum term - 30 years
Base sum assured: 5 Lac to no limit.
The policy loan is not available under Smart Total Elite Protection Plan.
Annual, half-yearly, quarterly & monthly
Let's understand how the ICICI Pru Loan Protect Plus Plan works with a simple premium illustration.
Mrs. Anjali Mishra, is a 35-years old government teacher. She recently purchased her dream home for her parents. But she is worried that if something happened to her, how her parents would repay the loan amount?
For the same, her brother suggested she visit PolicyX.com. Their certified advisors carefully analyzed her query and suggested she purchase the ICICI Pru Loan Protect Plus Plan.
Let us see a brief illustration of Mrs. Anjali's ICICI Pru Loan Protect Plus Plan
| Age of policyholder | Annual premiums | Policy tenure | Premium payment term | Total premiums paid | Sum assured |
| 35 years | Rs 46,987 | 25 years | 25 years | Rs 1174675 | Rs Rs 75 lakh |
Key Takeaways: Mrs. Anjali will covered up to the age of 60 years with a reducing cover. In case of any unfortunate event, her nominee will receive a sum assured of Rs. 75 lakhs.
Here are the benefits associated with the ICICI Pru Loan Protect Plus
You can add the following riders to your ICICI Pru Loan Protect Plus Term Plan:
With ICICI Pru Accidental Death Benefit Rider, you can cover yourself with a maximum sum assured of 2 crore against any unfortunate accident that causes death to the life insured.
With ICICI Pru Critical Illness Rider, you can protect yourself with a maximum sum assured of 1 crore against 34 critical illness diseases.
Here is the list of exclusions associated with the plan:
ICICI Pru Loan Plus Plan is a term plan that offers protection against liabilities if the policyholder is unable to pay his loans. The plan offers coverage if the insured meets unforeseen cases such as death, critical illness, total and permanent disability.
For more info related to this plan, you can visit PolicyX.com, or call us at 1800 - 420 - 0269. Our insurance experts listen to your unique needs and suggest the best possible solution for you.
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Bindiya is a seasoned content writer specializing in keeping readers acquainted with the insurance industry, term insurance developments, and life insurance sector shifts. With an experience of 3 years in insurance, Bindiya ensures that her readers stay well informed with the insurance developments and factually correct information.
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