Shriram Life Investment Plans
ICICI Prudential iProtect Plan is a non-participating pure term plan which is available for purchase through the companys website. Like a term plan, this plan also provides high protection at very low premium rates.
It is a pure term insurance plan with regular pay premium paying options
There are two types of benefit options: Option I and II where there is an inbuilt Accidental Rider in Option II
Simple application process
Details About Premium
Annual premium in Rupees for a policy tern of 25 years
Grace Period: 30 days grace period is allowed for payment of premium
Policy Termination or Surrender Benefit: there is no option of surrendering the plan.
Free look period: If you would not be pleased with the coverage, and terms and conditions of the policy, you have the option of canceling the policy within 15 days of receipt of the policy documents, provided there has been no claim.
Additional Features or Riders
Premium discounts are given for non-smokers
In case of suicide committed within 12 months of policy inception the premium paid is refunded. In case of suicide within 12 months after revival only 80% of premiums paid are returned to the nominee.
For the rider, accidents due to infection, drug abuse, self-inflicted injury, war or civil commotion, criminal acts, aviation, etc. are excluded.