ICICI Pru I-Care Online Term Plan Features, Premium and Review

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After discontinuing the iProtect Term plan ICICI bank has come up with another online term plan called ‘I-Care’. This is a pure term plan which you can purchase online. This i-care term insurance plan is almost similar to other popular online term plan like HDFC Click 2 protect, AEGON Religare iTerm, Aviva i-life term plan, but has some attractive features than others. You can buy this insurance policy with a very small premium in 2 options – typical death benefit upto Sum Assured and an additional Accidental Death Benefit rider. Based on your requirement the premiums for both will vary but still its very less. Here we will highlight i-care term insurance plans features, review, premium calculations and few exclusions.
 

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Key features of i-care plan over other term plans

The main feature of this term plan is you can avail this plan without any medical test. If your age is up to 50 years and sum assured amount is till 1.5 crore then medical examination is not mandatory.
You can choose from 2 options to increase coverage and risk.
This policy covers maximum of non-medical claim limit.
You can cancel this policy within 15 days of policy documents received.
In case you have a home loan in your name, then you might get a high cover. You ask the same before subscribing the plan.
You can avail income tax benefits like other term insurance plans under section 80C.

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ICICI I-Care Term Plan Premium Calculations/Details

Like other online term plans premium for i-care is also very less due to no involvement of insurance agents in between. But here as icici provide 2 options to choose from, premium amounts are varying little. You can check out the table with details below

icici i care termpl premium calculations

Exclusions of ICICI I-care term plan

This plan is a pure online term plan, means you can not buy the same offline.
In case you want to surrender the policy you can only avail this feature if you had subscribed with Single Pay premium. In such a case a Guaranteed Surrender Value = 70% × Single Premium× (Number of Complete Policy Years Outstanding / Policy Term in Years) is applicable.
You can’t apply any loan against this policy.
During the first policy year or the year of reinstatement of policy, if policyholder commits suicide then Sum Assured will not be paid.


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You can read the ICICI I-Care online term plan brochure here and be clear with all terms and conditions. Its always better to study the product in detail and then clarify each of your doubt before buying a term plan online.

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