Introduction:

ICICI Prudential Life Insurance Company is a trusted joint venture between ICICI Bank, one of India’s leading financial institutions, and Prudential plc, a renowned global financial services group. Among its various offerings, ICICI Prudential Life Raksha stands out as a protection-oriented term insurance plan that ensures financial security for the policyholder’s family in case of an untimely demise.

This plan provides a lump sum payout, which helps the nominee manage immediate financial liabilities, such as household expenses, loan repayments, or medical bills. It is an affordable term insurance solution designed to offer your loved ones peace of mind and long-term financial stability. With ICICI Prudential’s reliability and commitment, Life Raksha is an excellent choice for individuals looking for a simple yet effective life insurance plan that guarantees protection when it matters the most.

 

What are the features of ICICI Pru Life Raksha?

Minimum and Maximum Sum Assured:
ICICI Pru Life Raksha offers financial security with a sum assured ranging from ₹50,000 to ₹500,000. This ensures that policyholders can choose a coverage amount that suits their financial needs. The plan is designed to provide a lump sum payout in case of the policyholder’s untimely demise, helping their family manage immediate financial obligations.

Policy Term:
The ICICI Pru Life Raksha plan comes with a fixed policy term of 5 years, making it an ideal short-term life insurance solution. This ensures that the insured’s family remains financially protected for the duration of the policy. The policy is structured to provide affordable and reliable coverage during this period, offering peace of mind to policyholders.

Premium Payment:
Premium payments are determined based on the sum assured and the policyholder’s age. This makes the plan accessible to individuals from different financial backgrounds, allowing them to secure life coverage at a cost-effective rate. The policy ensures flexible and manageable premiums, making it easier to maintain coverage without financial strain.

Premium Payment Modes:
ICICI Pru Life Raksha offers multiple premium payment options, including yearly, half-yearly, and monthly modes. For monthly payments, a 5% premium loading applies unless payments are made via direct debit, ensuring seamless transactions. This flexibility allows policyholders to choose a payment mode that aligns with their financial planning, making life insurance more accessible and convenient.

What are the benefits of ICICI Pru Life Raksha?

Death Benefit for Financial Security:
ICICI Pru Life Raksha ensures that in the unfortunate event of the policyholder’s demise during the policy term, the nominee receives the death benefit as a lump sum payout. This financial support helps the family manage immediate expenses, outstanding debts, and future financial needs, ensuring they remain financially stable even in difficult times. With this protection-oriented plan, policyholders can secure their loved ones’ future.

Tax Benefits Under Section 80C
One of the key advantages of ICICI Pru Life Raksha is that it offers tax benefits under Section 80C of the Income Tax Act, 1961. Policyholders can claim deductions on their premium payments, helping them save on taxes while securing life insurance coverage. This makes ICICI Pru Life Raksha not only a financial protection tool but also a tax-efficient investment. By choosing this plan, individuals can ensure long-term security and financial savings for themselves and their families.

Conclusion:

ICICI Pru Life Raksha is a reliable and affordable term insurance plan designed to provide financial security to your loved ones. With flexible premium payment options, a fixed 5-year policy term, and a lump sum death benefit, this plan ensures that your family remains financially stable in your absence. Additionally, policyholders can enjoy tax benefits under Section 80C, making it a cost-effective life insurance solution. Whether you are looking for short-term coverage or tax savings, ICICI Pru Life Raksha offers peace of mind and financial protection for you and your family. Secure your future today!