Before you buy a Term Plan, you should look into the insurance provider's credibility and claim settlement history. Choose an insurer with a consistent Claim Settlement Ratio (CSR) over 95% and a high Claim Paying Ability Rating. ICICI Prudential Life's FY2022 CSR stands at 97.8%~. We have consistently received iAAA claim settlement capacity ranking from ICRA.
The next step is to find out the premium you have to pay. Decide the premium payment frequency and the duration of the cover. Also decide how you want your family to receive the claim payouts, as a lump sum or a regular income. At the end, pay the premium and get the coverage you want. You can buy the ICICI Pru iProtect Smart Term Plan online in three simple steps: Calculate the premium you need to pay for ₹ 1 crore life cover using our online Term Insurance Premium Calculator. The calculator will help you determine the premium amount you will have to pay as per your chosen premium payment period and frequency (monthly, half-yearly, or yearly) Enter your personal and income details in the application form. Upload scanned copies of the relevant documents in our web portal Review the details you have entered, pay the premium online to get an attractive discount, and make your life cover active