Life Insurance for loved ones

Life Insurance for loved ones

If you are head of the family then of-course you dedicate your day out in ensuring the well-being and security of your dependents or family members. So does ICICI Pru iProtect Smart. It stands with your family and its financial needs in the case of injury or sudden demise.

This life insurance has various policy schemes to fit your purpose best. In case of demise of the insured person during the insurance period, it provides a handsome amount to the family. The best and unique part is the extremely low premium, an accidental cover of the double amount, 34 critical illness cover and a high tax benefit.

Checkpoints to choose Insurance Company & Why ICICI Prudential is best

To get the best and competent term insurance policy plan for yourself, check out the following points and compare.

  • The ratio of Claim Settlement – To determine the best insurance company, just check the ratio of paid life insurance claims and proportion of made claims. For ICICI Prudential this ratio~ is 97.88%.
  • Solvency Ratio – IRDAI mandates Solvency Ratio as at least 1.5 of a life insurer company. But ICICI Prudential maintains it as ratio$ 20. This ratio states financial capability of the insurer in settling the claim amount on need.
  • Critical Illness benefit – Nothing can cost more than your life. So to support during critical and fatal 34 illnesses like kidney failure, cancer, heart attack, brain surgery and lot more you can get lump sum amount on diagnosis for protecting your family from financial cripples.
  • Accidental death benefit – For accidental demise of the insured person, you can get the double amount. As in, if your insured amount is Rs 1 crore, then in the event of accidental death, you can get Rs 2 crores.

If you get your insurance registered through an online life insurance policy service, then you can also get an extra 5% discount.

Also, the website provides detailed information about the policies in an easy language with no hidden terms so that you can be confident about your decision.  Another advantage of applying for insurance online is that it helps keep the amount of submission paperwork low.

Life Insurance

 Who & Why should you buy Life Insurance Policy

If you are newly married and about to take up family planning, then the first thing you should do is get a life insurance policy to secure your future without worries. In case of sudden death or loss of income or a medical emergency, the insurance will ensure your family’s interests are safe and secured.

Even if you are single, getting a policy is beneficial for you. This ensures your parents and future family won’t face any financial strains in the future in the case of an accident.

If you are an investor or want to make money through SIP or other mutual funds, then consider life insurance as an option to secure your money.

If you are an executive or top-ranked professional, life insurance is a good option for ensuring your future, especially considering the rising expenses.

It is highly beneficial for any professional or businessman as investing in a life insurance policy offers some great tax benefits. This aspect further enhances and supports your income strategy.

Both spouses earning in a family should consider buying such policies to ensure smooth flow of the family’s finances, irrespective of any sudden illness or demise.

For a retired person, such policy helps a lot especially when it comes to medical reimbursement and income tax exemption. This helps lessen the financial burden during the non-earning years of the said individual’s life.

So, with these insights, you have a clearer picture about life insurance now. So, go ahead and explore detailed information about plans and benefits by logging on to the website of ICICI PruLife.

DISCLAIMER –

This article is not published as financial advice or any other financial legal issue. We recommend you to consult your financial planner before investing in any financial decision.

© Ruchi Verma

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24 thoughts on “Life Insurance for loved ones

  1. Thank you so much for sharing this extremely important and useful information. While my husband has a life insurance policy in his name, I have a health insurance in mine. Everyone needs to be aware of the importance of insurance.

  2. Such policies are very helpful. We just got one done for our family. All four of us. Life is so uncertain that schemes and policies come in handy now. Also considering changes in lifestyle over the years,I suggest this to every family.

  3. Topics like these need to be openly discussed and understood! It’s extremely necessary that we all invest in some kind of insurance policy. Very nice topic.

  4. You gave explained in details about Insurance. It is a very helpful post and informative too for anyone who is looking for insurance.

  5. I have heard good words about ICICI prudential. Thanks for sharing information. I will definitely explore it more. New year is coming and it is already in my to-do list.

  6. Life insurance — one must think not only today abt tmrw…yes ofcourse life insurance save one’s life…you clearly explained the benefits…

    Your points are very useful while taking life insurance
    #WigglingBirthday

  7. Another helpful post with good tips.
    We all need life insurance, because unfortunately no one quite knows what the future holds. It is good to find out about this company which is trustworthy and recommended.

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