Key features of i-care plan over other term plans
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.
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
Exclusions of ICICI I-care term plan
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.