Child Insurance plans have become very important because they specifically provide for ones childs future even in ones absence. The inbuilt premium waiver rider ensures that the plan continues even after the parents death and the benefits accrue and when they are payable so that the benefits can be utilized for the purpose for which it was initially planned, i.e. for the childs future. For example, an individual with a child currently aged 5 years buys a 20 year child plan which promises money backs at the 15th, 17th and 20th policy anniversary. The policyholder has planned the money back periods to coincide with the childs educational milestones and would receive the funds when the child reaches 20 years, 22 years and 25 years. The funds will be utilized to take care of the childs higher education. If the insured dies, the plan will not be terminated. Future premiums will be paid by the company and the money-backs will be paid as and when promised. Thus, the money will be utilized only for the childs education which was the actual rationale for buying the plan.
Child Insurance plans have become very important because they specifically provide for ones childs future even in ones absence. The inbuilt premium waiver rider ensures that the plan continues even after the parents death and the benefits accrue and when they are payable so that the benefits can be utilized for the purpose for which it was initially planned, i.e. for the childs future. For example, an individual with a child currently aged 5 years buys a 20 year child plan which promises money backs at the 15th, 17th and 20th policy anniversary. The policyholder has planned the money back periods to coincide with the childs educational milestones and would receive the funds when the child reaches 20 years, 22 years and 25 years. The funds will be utilized to take care of the childs higher education. If the insured dies, the plan will not be terminated. Future premiums will be paid by the company and the money-backs will be paid as and when promised. Thus, the money will be utilized only for the childs education which was the actual rationale for buying the plan.
1. How to pay premium? What are the modes of payment available? For receiving continuity of your policy benefits, it is critical to pay premiums on time. You can pay your ICICI Life Insurance premium through these 11 methods: Net Banking Credit card Bill desk Bank Website Debit Car+ ATM PIN Debit Card Bill junction Infinity E-collect Rupay Debit Card Skypack drop box MINC Drop Box For paying premium online, you can login to e-portal Step 1: Enter your policy details – policy number and policyholders date of birth Step 2: Select your online bank account, debit/ credit card or use the NEFT facility to pay the premium Step 3: Authenticate and confirm your payment details and receive online confirmation 2. How can I check policy status for ICICI Prudential child plans You can check the policy status via online, or opt for SMS and e-mail reminder facility. You can check ICICI Prudential Life Insurance Policy Status Online as follows. Open ICICI Prudential Life Insurance website in your browser Now you will be directed to a new window. On the top right side of this new page you can see the customer login section Enter user ID and password to navigate to checking the policy status Only registered users can access the portal, so you need to sign up for the service, if you havent yet. 3. What is the policy renewal process for ICICI Prudential child plans? Online Policy Renewal facility is available to all ICICI Life Insurance customers. The process is as follows; Step 1: Login into the website with your Client ID and password. Step 2: Select the policy due for renewal payment. Click Pay Renewal Premium Now Step 3: Choose payment option- NEFT, Credit Card/Debit Card Step 4: Authenticate and confirm your payment details and print out the payment receipt 4. What is the companys process to settle claim for ICICI Prudential child plans? Step 1: Complete the claim form through – Email – lifeline@iciciprufile[dot]com Phone-Call a claim care Online claim From branch office Step 2: Form Evaluation The Claim Care department examines the claim and if any essential documents are missing, the team immediately notifies the policyholder of the same. The team keeps the claimant up-to-date on the process via Emails and Letters. Step 3: Claims Processing On receipt of all the essential documents, the Claims department processes the application within 12 calendar days, if no investigation is needed for checking the claim made. For quick access to claim funds, ICICI Life Insurance transfer funds directly into the beneficiarys bank account. In case of cashless hospitalization, you need to produce the relevant medical bills and reports, issued by the attending physician. Upon completion of these documents, submit them to your nearest ICICI branch. 5. What is the policy cancellation process for ICICI Prudential child plans? You need to keep your policy for a minimum of 3 years before you can cancel it. You need to fill a surrender form at any of the ICICI Prudential Life branches, and submit your policy documents. The cancellation process will take 30 days to complete and the surrender value funds will be directly transferred to your bank account. If you signed up for a single premium policy, you can cancel it after the first policy year. Karnataka Bank Fixed Deposit Plans
Child Insurance plans have become very important because they specifically provide for ones childs future even in ones absence. The inbuilt premium waiver rider ensures that the plan continues even after the parents death and the benefits accrue and when they are payable so that the benefits can be utilized for the purpose for which it was initially planned, i.e. for the childs future. For example, an individual with a child currently aged 5 years buys a 20 year child plan which promises money backs at the 15th, 17th and 20th policy anniversary. The policyholder has planned the money back periods to coincide with the childs educational milestones and would receive the funds when the child reaches 20 years, 22 years and 25 years. The funds will be utilized to take care of the childs higher education. If the insured dies, the plan will not be terminated. Future premiums will be paid by the company and the money-backs will be paid as and when promised. Thus, the money will be utilized only for the childs education which was the actual rationale for buying the plan.
The child is the beneficiary in a child plan. As a result, all the benefits received from the plan help the child. A child plan is purchased for paying the childs education costs, marriage, and even to help him or her start a business. Then, if the earning parent dies within the policy period, the childs finances still remain covered and even without anyone paying the premium, the plan remains active and the sum assured is paid at the decided point of time. Therefore a child plan helps the child in every way possible till he or she becomes financially independent.
ICICI Prudential Life Insurance Company offers only one kind of child insurance plan which has an exhaustive list of features and benefits. Let us take a look at this child education plan in detail.
1. How to pay premium? What are the modes of payment available? For receiving continuity of your policy benefits, it is critical to pay premiums on time. You can pay your ICICI Life Insurance premium through these 11 methods: Net Banking Credit card Bill desk Bank Website Debit Car+ ATM PIN Debit Card Bill junction Infinity E-collect Rupay Debit Card Skypack drop box MINC Drop Box For paying premium online, you can login to e-portal Step 1: Enter your policy details – policy number and policyholders date of birth Step 2: Select your online bank account, debit/ credit card or use the NEFT facility to pay the premium Step 3: Authenticate and confirm your payment details and receive online confirmation 2. How can I check policy status for ICICI Prudential child plans You can check the policy status via online, or opt for SMS and e-mail reminder facility. You can check ICICI Prudential Life Insurance Policy Status Online as follows. Open ICICI Prudential Life Insurance website in your browser Now you will be directed to a new window. On the top right side of this new page you can see the customer login section Enter user ID and password to navigate to checking the policy status Only registered users can access the portal, so you need to sign up for the service, if you havent yet. 3. What is the policy renewal process for ICICI Prudential child plans? Online Policy Renewal facility is available to all ICICI Life Insurance customers. The process is as follows; Step 1: Login into the website with your Client ID and password. Step 2: Select the policy due for renewal payment. Click Pay Renewal Premium Now Step 3: Choose payment option- NEFT, Credit Card/Debit Card Step 4: Authenticate and confirm your payment details and print out the payment receipt 4. What is the companys process to settle claim for ICICI Prudential child plans? Step 1: Complete the claim form through – Email – lifeline@iciciprufile[dot]com Phone-Call a claim care Online claim From branch office Step 2: Form Evaluation The Claim Care department examines the claim and if any essential documents are missing, the team immediately notifies the policyholder of the same. The team keeps the claimant up-to-date on the process via Emails and Letters. Step 3: Claims Processing On receipt of all the essential documents, the Claims department processes the application within 12 calendar days, if no investigation is needed for checking the claim made. For quick access to claim funds, ICICI Life Insurance transfer funds directly into the beneficiarys bank account. In case of cashless hospitalization, you need to produce the relevant medical bills and reports, issued by the attending physician. Upon completion of these documents, submit them to your nearest ICICI branch. 5. What is the policy cancellation process for ICICI Prudential child plans? You need to keep your policy for a minimum of 3 years before you can cancel it. You need to fill a surrender form at any of the ICICI Prudential Life branches, and submit your policy documents. The cancellation process will take 30 days to complete and the surrender value funds will be directly transferred to your bank account. If you signed up for a single premium policy, you can cancel it after the first policy year. Karnataka Bank Fixed Deposit Plans
Child Insurance plans have become very important because they specifically provide for ones childs future even in ones absence. The inbuilt premium waiver rider ensures that the plan continues even after the parents death and the benefits accrue and when they are payable so that the benefits can be utilized for the purpose for which it was initially planned, i.e. for the childs future. For example, an individual with a child currently aged 5 years buys a 20 year child plan which promises money backs at the 15th, 17th and 20th policy anniversary. The policyholder has planned the money back periods to coincide with the childs educational milestones and would receive the funds when the child reaches 20 years, 22 years and 25 years. The funds will be utilized to take care of the childs higher education. If the insured dies, the plan will not be terminated. Future premiums will be paid by the company and the money-backs will be paid as and when promised. Thus, the money will be utilized only for the childs education which was the actual rationale for buying the plan.
The child is the beneficiary in a child plan. As a result, all the benefits received from the plan help the child. A child plan is purchased for paying the childs education costs, marriage, and even to help him or her start a business. Then, if the earning parent dies within the policy period, the childs finances still remain covered and even without anyone paying the premium, the plan remains active and the sum assured is paid at the decided point of time. Therefore a child plan helps the child in every way possible till he or she becomes financially independent.
ICICI Prudential Life Insurance Company offers only one kind of child insurance plan which has an exhaustive list of features and benefits. Let us take a look at this child education plan in detail.
