There are many ways of paying a premium for an ICICI Prudential life insurance policy. ICICI Prudential Life Insurance Company offers flexibility in premium payment options. As per the Insurance Regulatory and Development Authority of India (IRDAI), insurance companies are allowed to collect premiums monthly, quarterly, half-yearly, and yearly methods.
The monthly premium payment method is usually cheaper in the long run. The monthly payment method ensures that you will not forget about your payments and it also means that you will be able to make smaller monthly payments if you need to do so. The yearly payment method of life insurance guarantees that you will have enough coverage for the whole year, which can be useful if your income changes from time to time or if you want to save on taxes in a certain year.
How to cancel ICICI Predential Life Insurance Policy Online?
ICICI Predential Life term smart life insurance plan can be canceled by the policyholder at any point of time after the policy start date by writing to the insurance company and filling the cancellation form. If the policy is to be canceled within the free look period, it can be done without any premium deduction by the insurance company. If the policy is to be canceled after the free look period, a pro-rata premium would be charged by the insurance company from the customer.
How to Cancel ICICI Prudential Life Insurance Policy Online?
ICICI Prudential has made it very easy to cancel life insurance policy online. You can do this by logging on to the website and then going to the 'Cancel Policy' section. Or you have to contact the ICICI Prudential life insurance company and convey your wish to cancel the policy. Make sure that you have given a free look period of 10 to 30 days for cancellation of your policy.
- Usually, they provides alternate options and solutions to the Policyholder regarding policy changes, and premium rates.
- If you are still wishes to cancel the life insurance policy, download the cancellation form from the ICICI Prudential’s website or obtain it from the branch office and fill up the details
- Once the cancellation form is submitted to the insurance provider, they will get on to the process of cancelling the policy
- No refunds will be made if the policy is cancelled outside of the free looking period/ cooling off period.
What is ICICI Prudential Life Insurance?
ICICI Prudential Life insurance is a contract between the insured customer and the insurance company in which the life insurance company assures to cover the life of the insured customer or promises to take care of the investment and returns in addition to the life coverage, in return for a periodical amount known as “Premium”. Life insurance is an agreement that is legally enforceable in a court of law. The parties to the life insurance contract should declare the basic facts which could affect the life insurance. For purchasing ICICI prudential life insurance login to our website.
Is ICICI Prudential Life Insurance Good?
Yes, ICICI Prudential Life insurance is a contract between the insured customer and the insurance company in which the life insurance company assures to cover the life of the insured customer or promises to take care of the investment and returns in addition to the life coverage, in return for a periodical amount known as “Premium”. Life insurance is an agreement that is legally enforceable in a court of law. The parties to the life insurance contract should declare the basic facts which could affect
the life insurance. ICICI Prudential life insurance customer care number: 1860 266 7766.
What is ICICI Prudential Life Insurance Company Limited?
ICICI Prudential Life Insurance Company Limited is a joint venture between ICICI Bank Limited and Prudential Corporation Holdings Limited. ICICI Company is the first private life insurance company in India that has received a National Insurer Financial Strength of AAA. This is a leading international financial services group headquartered in the UK. ICICI Prudential Company has consistently been the topmost company in the Indian Life Insurance Sector. ICICI Company started operations with a mark of 100000 policies and now it crossed the mark of 5 million policies, a Total premium of 100 billion, and crossed 250 billion of assets under management.