Why term plans?

Term insurance is the simplest and most fundamental insurance product.Term insurance plans are designed to ensure that in the event of the policyholder's death, the family gets the sum assured(the cover amount).

What is term life insurance?

Term life insurance ensures that your family receives a large lumpsum amount, called the sum assured, in the unfortunate event of death of the policyholder. By offering this benefit at extremely competitive rates, Term insurance plans provide an opportunity to get the protection of insurance cover at extremely affordable prices.

How much life cover do I need?

While most of us do have some sort of life insurance cover or the other, the important question to ask ourselves is "how much life insurance cover do I need"?

Human life value,commonly known as HLV, is an easy to use numeric way of arriving at an answer to the question above. An individual's HLV is typically expressed in terms of multiple of his or her annual income.

The table below gives an approximate HLV multiple for different age bands.

Age Band	HLV Factor*	Age Band	HLV Factor*
18-24	6	45-49	10
25-29	8	50-54	8
30-34	10	55-64	6
35-44	12	65-75	4

Click here to calculate your human life value.

Why should I start planning my life cover needs now?

One should have adequate cover for dependents. It's better to be prepared and ensure that the financial needs of your loved ones are taken care of, in the unfortunate event of death.
With age, the premiums tend to increase and therefore buying term insurance becomes more expensive.
Apart from the benefit of protection for your dependents, also enjoy tax benefits under Sec 80C up to Rs. 1,50,000.

How can I make a claim?

At ICICI Prudential life every claim is a fulfillment of a promise that we have made to our policyholder and we do our best to process the claim in the most transparent and quick manner. In line with our philosophy of easing the financial burden on the policyholder and their nominees we have a simplified 4 step claim process. --- Know More