Invest In Tax Saving Mutual Funds Online
ICICI Pru iCare
| Eligibility | ||||
| Entry Age (years) | ||||
| Minimum | 18 | |||
| Maximum | 65 | |||
| Maximum Maturity Age (years) | 75 | |||
| Policy Variants | Option 1: Sum Assured | |||
| Policy Term (years) | ||||
| Minimum | 5 | |||
| Maximum | 30 | |||
| Sum Assured (Rs) | ||||
| Minimum | Subject to minimum premium limit | |||
| Maximum | 1.5 crore for 18- 50 yrs of age; 70 lakhs for 51-65 yrs of age | |||
| Minimum Premium (Rs) | ||||
| Yearly | 3000 | |||
| Premium Payment Frequency | Regular pay (yearly), one pay option for 5 and 10 year policy terms | |||
| Premium Payment Term | Equal to policy term or Single | |||
| Policy Cover | Cover remains fixed for the tenure of the policy | |||
| Other Features | ||||
| Free Look Cancellation | In case, you are not satisfied, you may choose to cancel the policy within 15 days of receiving the policy documents. Upon such cancellation, you will be paid back the premiums, minus the cost of stamp duty, medical reports and proportionate premium for the period for which the risk was covered. | |||
| Grace Period | You are allowed to pay premiums within 30 days from the due date. If a due premium is not received within the grace period of 30 days, your policy will lapse and the life insurance cover, including the rider cover, if any, will be terminated. | |||
| Lapsed Policy Reinstatement | You can reinstate your lapsed policy any time (within 2 years from the due date of the first unpaid premium) by paying all the due premiums and undergoing underwriting requirements, if any. | |||
| Tax Benefits | Section 80C, 10 (10D) of the Income Tax Act, 1961 would apply. Premiums paid for Dread Disease Rider may qualify for deduction under Section 80D of the Income Tax Act, 1961. | |||
| Exclusions | In case of death by suicide during the first policy year, or within one year from the date of reinstatement, no death benefit is payable. Further, if the Life Assured under the policy, whether medically sane or insane, commits suicide, within one year of exercising the option to increase the Sum Assured, then the amount of increased Sum Assured will not be considered in the calculation of the Death Benefit | |||
| Surrender Value | 70% x Single Premium x (Number of complete policy years outstanding / Policy term) | |||
| Customer Service | ||||
| Address | ICICI Pru Life Towers, 1089 Appasaheb Marathe Marg, Prabhadevi, Mumbai 400025. Tel.: 40391600 | |||
| Mail To | ||||
| Call On | 18602667766 between 9 am to 9 pm; Monday to Saturday (except National holidays) | |||
| SMS | SRV to 56767 | |||
| Additions to the Plan | ||||
| Available Rider(s) | Accidental Death Benefit Rider (ADB): covers death due to accident | |||
| Rider Conditions | ||||
| Entry Age (years) | ||||
| Minimum | 18 | |||
| Maximum | 65 | |||
| Maximum Maturity Age (years) | 75 | |||
| Rider Term (years) | ||||
| Minimum | 5 | |||
| Maximum | 30 | |||
| Sum Assured (Rs) | ||||
| Minimum | 50000 | |||
| Maximum | Equal to Sum assured up to a maximumof Rs 50 lakh | |||
| Objective | This policy can help insured's family tide over financial turmoil in his absence. | |||
| What does it do? | This online plain term plan pays sum assured to the beneficiary in the event of death of the insured. ICICI Pru iCare offers two optional death benefits to choose from: | |||
| Pros | The policy offers higher sum assured to those with an outstanding home loan. There is an option to add accidental death benefit. | |||
| Suited for | This plan can save cost due to elimination of intermediaries, if you buy the policy online. | |||
| Our View | A simple term policy is recommended for everyone who has dependents. Accidental death option can be taken if you think its needed. However, it is not a replacement of personal accident policy as that can provide disability benefit as well. If you have an apt personal accident policy you can go with Option 1 of this policy. | |||
Happy Investing!!
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Invest in Tax Saving Mutual Funds ( ELSS Mutual Funds ) to upto Rs 1 lakh and Save tax under Section 80C.
Invest Tax Saving Mutual Funds Online
Tax Saving Mutual Funds Online
These links can be used to Purchase Mutual Funds Online that are regular also (Investment, non-tax saving)
Download Tax Saving Mutual Fund Application Forms from all AMCs
Download Tax Saving Mutual Fund Applications
These Application Forms can be used for buying regular mutual funds also
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