ICICI Pru Icare II
ICICI Pru Icare II
Introduction
You strive to provide comfort, happiness and security to your family. Even if something unfortunate were to happen to you,
you would want your family's future to be secured at all times.
With ICICI Pru iCare II, protect your family's future and ensure that they lead their lives comfortably without any financial
worries, even in your absence.
Regular Pay option Premium payment options Regular Pay , One Pay
2. Accidental Death Benefit: For the purpose of Accidental Death 4. Suicide clause: If the Life Assured whether sane or insane, commits
Benefit payable on accident the following conditions shall apply: suicide within 12 months from the date of commencement of risk of this
policy, the policy will terminate. The Company will refund higher of the total
a. Death due to accident should not be caused by the following:
premiums paid including extra premiums, if any till the date of death or
i. Attempted suicide or self inflicted injuries while sane or insane, or
surrender value as available on date of death and all rights,
whilst the Life Assured is under the influence of any narcotic
benefits and interests under this policy will stand extinguished.
substance or drug or intoxicating liquor; or
In the case of a Regular Pay policy, which has been revived, if the Life
ii. Engaging in aerial flights (including parachuting and skydiving)
Assured, whether sane or insane, commits suicide within 12 months from
other than as a fare paying passenger on a licensed passenger-
carrying commercial aircraft (being a multi-engined aircraft) the date of revival of the policy the Company will refund higher of 80% of
operating on a regular scheduled route; or the total premiums paid including extra premiums, if any till the date of
death or surrender value as available on date of death and all rights,
iii. The Life Assured with criminal intent, committing any breach of
benefits and interests under his policy will stand extinguished.
law; or
5. Grace period: A grace period for payment of premium of 15 days no person shall allow or offer to allow, either directly or indirectly, as an
applies for monthly premium payment mode and 30 days for other modes inducement to any person to take or renew or continue an insurance in
of premium payment. If the premium is not paid within the grace period, respect of any kind of risk relating to lives or property in India, any rebate of
the policy shall lapse and cover will cease. the whole or part of the commission payable or any rebate of the premium
shown on the policy, nor shall any person taking out or renewing or
6. Premium discontinuance: If the premium is not paid either on the
continuing a policy accept any rebate, except such rebate as may be
premium due date or within the grace period, all benefits under this policy allowed in accordance with the published prospectuses or tables of
will cease. No benefit shall become payable in case of death of the Life the insurer.
Assured while the policy is in lapsed condition. This is applicable only for
Any person making default in complying with the provisions of this section
Regular Pay option.
shall be punishable with fine which may extend to 10 lakh rupees.
7. Policy revival: Policy revival is applicable only for Regular Pay option.
12. In case of fraud or misrepresentation, the policy shall be cancelled
A policy, which has lapsed for non-payment of premium within the days of
immediately by paying the surrender value, if any, subject to the fraud or
grace, may be revived subject to the following conditions. misrepresentation being established by the Company in accordance with
• The application for revival is made within 5 years from the due Section 45 of the Insurance Act, 1938, as amended from time to time.
date of the first unpaid premium and before the termination date 13. For further details, please refer to the policy document and the
of policy. Revival will be based on the prevailing Board approved benefit illustration.
underwriting policy.
• The Policyholder furnishes, at his own expense, satisfactory
evidence of health of the Life Assured as required by the Company.
• The arrears of premiums together with interest, at such rate as
the Company may charge for late payment of premiums are paid.
The interest rate applicable in April 2020 is 7.87% p.a. compounded
half yearly.
The revival of the policy may be on terms different from those applicable to
the policy before it lapsed for example, extra mortality premiums or
charges may be applicable. The Company reserves the right to refuse to
re-instate the policy. The revival will take effect only on its being
specifically communicated by the Company to the Policyholder
8. Sum Assured and plan type once chosen at the inception of the policy
cannot be changed.
9. No loans are allowed under this policy.
10. The bases for computing Surrender Value factors will be reviewed from
time to time and the factors applicable to existing business may be
revised subject to the prior approval of the IRDAI.
11. Section 41: In accordance with Section 41 of the Insurance Act, 1938,
About ICICI Prudential Life Insurance
ICICI Prudential Life Insurance Company Limited is a joint venture between ICICI Bank Limited and Prudential Corporation Holdings
Limited, a part of the Prudential group. ICICI Prudential began its operations in Fiscal 2001 after receiving approval from Insurance
Regulatory Development Authority of India (IRDAI) in November 2000.
ICICI Prudential Life Insurance has maintained its focus on offering a wide range of products that meet the needs of the Indian
customer at every step in life.
ICICI Prudential Life Insurance Company Limited. IRDAI Regn. No. 105. CIN: L66010MH2000PLC127837.
ICICI Prudential Life Insurance Company Limited. Registered Address:- ICICI PruLife Towers, 1089, Appasaheb Marathe Marg, Prabhadevi, Mumbai-400025. For
more details on the risk factors, terms and conditions, please read the sales brochure carefully before concluding a sale. Trade Logo displayed above belongs to ICICI
Bank Limited & Prudential IP Services Limited and used by ICICI Prudential Life Insurance Company Limited under license.ICICI Pru iCare II. UIN - 105N140V03. Form
No.:T38, T39 and T41. Advt. No.: L/II/0696/2019-20.