ICICI Pru iShield Term Plan: Check Eligibility and Benefits
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ICICI Pru iShield Term

ICICI Pru i-sheild term insurance plan offers the dual benefits of hea ...Read More

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About ICICI Pru iShield Term

A quick read on what this ICICI Term Insurance term plan covers and why it might be a fit for you.

ICICI Pru iShiled is a dual-benefit term plan that gives both health & life insurance. Apart from life coverage, this policy offers coverage against health care expenses such as regular doctor consultations, hospitalisation, drugs, and preventative check-ups.

In case of unfortunate demise, this plan also pays a guaranteed death benefit to the nominee. ICICI Pru ishiled plan offers different coverage for both insurance types: for health insurance sum insured ranges between Rs.5 lakhs to Rs.20 lakhs and for life insurance sum assured ranges between Rs.50 lakhs to Rs.1 crore.

Here are some key features of this plan:

  • Life + Health Benefit
  • Hassle-free online process
  • Waiver of premium benefit
  • Flexible policy term
  • Pre & post hospitalisation expenses
  • 5% premium discount on online purchases

 

Eligibility Criteria for ICICI Pru iShield Term

Entry age
Entry age
Minimum Age - 18 years Maximum Age - 60 years
Maturity age
Maturity age
Maximum Maturity Age - 85 years
Policy term
Policy term
Minimum term - 5 years Maximum term - 85 years
Sum assured
Sum assured
Base sum assured: 50 Lakhs to 1 crore
Policy loan
Policy loan
The policy loan is not available under ICICI i-shield plan.
Payment Modes
Payment Modes
Annual, half-yearly, quarterly & monthly

Pros & cons

A quick honest summary — the strengths and the trade-offs.

Pros

  • Health+Life Combo
  • 5% online discount
  • Easy renewal

Cons

  • No policy loan
  • No Investment option
  • No Terminal illness benefit

Video reviews

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Who can buy this plan

Eligibility criteria pulled straight from the policy wording.

Minimum entry age-6 years
Maximum entry age- 65 years
Minimum sum assured- As per Premium
Maximum policy term- 99 years
Mode of premium- Single

 

How Does ICICI Pru iShield Term Plan Work?

Let's understand how ICICI Pru iShield Term Plan works with a simple premium illustration.

Problem

Mr. Anubhav , a 35 year old Pune based doctor is looking for a health  plan for his wife. While, going through the plans online he got to know about plans  that offer  dual benefit of health and term .

Solution

For the same, he visited PolicyX.com. PolicyX.com carefully analysed his query and suggested him to purchase the ICICI Pru i-Shield term insurance plan.

Let us see a brief illustration of Mr. Anubhav wives's ICICI Pru i-Shield term insurance plan

Age of policyholder Annual premiums Premium payment mode Policy tenure Premium payment term Total premiums paid Sum assured for Life Sum assured for Health
40 years Rs 30,876 Annually 20 years 20 years Rs 617520 Rs 1 crore Rs 20 lakh

Key Takeaways: Mr. Anubhav's wife will be covered untill the age of 60 years. In case of any hospitilzation she has the cover of Rs. 20 lakhs along with life cover of Rs. 1 crore.

 

Riders Associated withICICI PruiShield Term Plan

You can add the following riders to your ICICI PruiShield Term Plan:

ICICI Pru Accidental Death Benefit Rider

With ICICI Pru Accidental Death Benefit Rider, you can cover yourself with a maximum sum assured of 2 crore against any unfortunate accident that causes death to the life insured.

ICICI Pru Critical Illness Rider

With ICICI Pru Critical Illness Rider, you can protect yourself with a maximum sum assured of 1 crore against 34 critical illness diseases.

Features of ICICI Pru iShield Term

Key features that make ICICI Pru iShield Term stand out.

Dual Benefits of Health and Life

This plan offers dual benefits of health and life cover. You can claim health coverage between Rs.5 lakhs to 20 lakhs and life coverage between Rs. 50 lakhs to 1 crore.

Waiver of Premium

In case of any unfortunate accident during the policy tenure, this plan offers the option to waive all future premiums. However, the plan will continue to work.

Terminal Illness Cover

In case the policyholder is diagnosed with any terminal illness during the policy tenure, this plan offers an immediate payout to treat the disease.

Pre And Post Hospitalization

Under this plan, you can reimburse all the expenses of pre and post-hospitalization.

Benefits of ICICI Pru iShield Term

Here are the key benefits of the ICICI Pru iShield Term.

Tax Benefit

ICICI Pru iShield Plan offers tax benefits under section 80C for upto Rs. 1.5 lakhs and under section 10(10D) or upto 2.5 lakhs as per Income Tax Act 1961.

ComprehensiveAdditional Benefit

This plan offers comprehensive protection against 34 listed critical illnesses and accidental death during the policy term.

Whole Life Coverage

The ICICI Pru iShield term plan offers whole-life coverage for upto 99 years of age.

Flexible PremiumPayment Term

ICICI Pru iShield term plan offers flexible premium payment terms of single, yearly, half-yearly, and monthly to cater for the diverse needs of every unique customer.

What are the exclusions of ICICI PruiShield Term Plan

Here is the list of exclusions associated with the plan:

  • Death occurred due to a pandemic is not covered by the company.
  • Death caused due to any type of adventure sports.
  • Death by consumption of any type of drugs and alcohol.
  • Death due to any pre-existing disease that isn't mentioned during the start of the policy.
  • If aommits suicide within first 12 months of purchasing the policy, then no death benefits are paid to their nominee. Either premiums paid to date or the surrender value of the policy whichever is higher is paid to them.

Conclusion

With ICICI PruiShield Term Plan, You can get comprehensive coverage for both health and life insurance. If you need a plan that offers pre and post hospitilization or complementry check ups along with life cover, ICICI Pru iShield term plan can be a good choice for you.

For more info related to this plan, you can visit PolicyX.com, or call us at 1800 - 420 - 0269. Our insurance experts listen to your unique needs and suggest the best possible solution for you. 

Conclusion

With ICICI PruiShield Term Plan, You can get comprehensive coverage for both health and life insuran

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ICICI Pru iShield Term Plan: FAQs

The 3 most-asked questions about ICICI Pru iShield Term, answered.

The minimum age limit for buying this policy is 18 years, and the maximum is 60 years.
The plan offers a life cover of 99 years.
No, the plan does not offer any pre-existing disease coverage.

Written and reviewed by

PolicyX content is researched in-house and reviewed by an IRDAI-certified insurance specialist before publication.

Written by Naval Goel — Founder & CEO, PolicyX.com Reviewed by Manoj Kumar — IRDAI-certified Health Insurance Specialist
Last updated: 28 Sep 2023 · Originally published: 24 Oct 2024

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