ICICI Pru Pure Protect

Name: ICICI Pru Pure Protect

Type of policy: Term Insurance


For buying policy: Yes

If holding policy: Continue

 A term insurance is a pure life insurance policy that gives your family a cover in case of an eventuality to the bread winner. This is a fantastic product from customer point of view, and is indeed one that every single family needs to have, for its earning member(s).

Additional benefits with ICICI Pru Pure Protect include Accidental Death and Disability Benefit rider and Waiver of Premium rider. Don’t bother about the first one at all because your term cover takes care of death by accident too. The second one waives off premium payment in case of disability of the insured and might be beneficial to individuals who are regularly exposed to high level of accidents.

ICICI Pru Pure Protect has two variants- Pure Protect Classic and Pure Protect Elite- offering low and high sum assured respectively. This is not a bad policy to have. Discounts on premium are available on high sum assured.

We typically recommend an insurance cover of 4-8 times your annual income, for as long a term as is available for your age. Find out the ideal cover for you using this calculator.

Product features:

Parameter

Value

Minimum age at entry

18 years

Maximum age at entry

65 years

Maximum policy term

30 years or till age of 75, whichever is earlier

Minimum sum assured

Subject to minimum premium for Pure Protect Classic

Rs 25 lakh for Pure Protect Elite

Maximum sum assured

Rs 24,99,999 for Pure Protect Classic

 Illustration

Pure Protect Classic: The table below provides indicative premiums for various age-term combinations for a Sum Assured of Rs. 15 lakhs.

Your Age (Yrs)

Term of Policy (Rs./p.a)

 

10 years

15 years

20 years

30 years

30

2920

3220

3587

4605

35

3771

4255

4872

6357

40

5373

6207

7158

9344

*Premium amounts shown above are inclusive of service tax and education cess as applicable.

Pure Protect Elite: The table below provides indicative premiums for various age-term combinations for a Sum Assured of Rs. 50 lakhs.

Your Age (Yrs)

Term of Policy (Rs./p.a)

 

10 years

15 years

20 years

30 years

30

7608

8387

9444

12558

35

9889

11390

13337

18009

40

14394

17064

20067

27075

*Premium amounts shown above are inclusive of service tax and education cess as applicable.

Returns: No survival benefit available at the end of the term. Pure insurance must be considered an expense and not an investment.

Better alternatives

Online term policies with similar features are available for half the premium amounts on offline policies like this one.

 

Fintotal Product Analysis is the ideal place to seek unbaised and neutral view on all financial products.

Do not get fooled by agents and distributors, just check here before you make any purchases.


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