1) Increasing life cover is referred to as the increasing death benefit available under the product. Provided all due premiums have been paid, the Death Benefit payable, in the event of death or diagnosis of terminal illness (TI) (whichever happens first) of the Life Assured during the policy term, will be the highest of:
- Minimum Life Cover;
- Sum Assured;
- 105% of the Total Premiums Paid up to the date of death or diagnosis of Terminal Illness, whichever is earlier; and
- Surrender Value payable as on date of death or diagnosis of Terminal Illness, whichever is earlier.
The Sum Assured depends upon the age, premium payment term, and policy month of death. The Sum Assured increases over the policy term.
2) A Life Assured shall be regarded as Terminally Ill only if that Life Assured is diagnosed as suffering from a condition which, in the opinion of two independent medical practitioner’s specializing in treatment of such illness, is highly likely to lead to death within 6 months. The terminal illness must be diagnosed and confirmed by medical practitioner’s registered with the Indian Medical Association and approved by the Company. The Company reserves the right for independent assessment.
3) Tax-free wealth refers to tax free returns/ benefits of the policy, subject to the provision of Income Tax Act, 1961. Policies issued on or after April 01, 2023 where aggregate premium(including top-up premiums and rider premiums) payable during the term of the policy/policies in respect of Non-unit linked life insurance policies more than Rs 5 lakh per year per person is taxable under Section 10(10D). Tax benefits/Tax-free returns under the policy are subject to conditions under Sections 80C, 10(10D), 115BAC and other provisions of the Income Tax Act, 1961. Taxes, if any will be charged extra as per applicable rates. Tax laws are subject to amendments from time to time. Please consult your tax advisor for more details.
4) 10% discount on 1st year premiums is applicable for female lives as compared to male lives. The discount is only available on the base premium.
5) Silver’s Benefit: The Life Assured may avail a periodic complimentary health check-up, subject to eligibility conditions. Please read the policy document to know more. This service shall be directly provided by third party service provider(s) as per their prevailing terms and conditions. The Company will not be liable for any services or actions of the service provider including but not limited to deficiency in services/ malpractices/ negligence/ lapses or otherwise. The Company reserves the right to discontinue the service or change the service provider(s) at any time without any further intimation.
6) Standard Chartered Bank, India having its principal place of business at Crescenzo Building C-38/C-39 G Block, Bandra Kurla Complex, Bandra (East), Mumbai – 400051. Phone: 6601 4444, is a licensed Corporate Agent of ICICI Prudential Life Insurance Company Limited (IRDAI registration no. 105) for life insurance products vide license number CA0028. The benefits/ features of the products are indicative only. For more details on risk factors and terms and conditions, please read sales brochure carefully before concluding sale. Insurance is the subject matter of solicitation. Insurance is underwritten by ICICI Prudential Life Insurance Company Limited and not by Standard Chartered Bank, India. Participation of the customers of Standard Chartered Bank in the policy is entirely voluntary. In facilitating insurance arrangements, the Bank is acting as a corporation agent of the insurer and not as an agent for customers. This webpage is being distributed for general information only. This webpage has not been prepared for any particular person or class of persons and it has been prepared without regard to the specific investment or insurance objectives, financial situation or particular needs of any person.
ICICI Prudential Life Insurance Company Limited – ICICI Pru Life Towers, 1089 Appasaheb Marathe Marg, Prabhadevi, Mumbai – 400 025. IRDA Registration No.105. CIN-L66010MH2000PLC127837. Phone: 1-860-266-7766 (10am-7pm, Monday to Saturday, except national holidays and valid only for calls made from India). ICICI Pru Wealth Forever(UIN:105N206V01), A Non-Participation, Non-Linked Life Individual Savings Product. ADVT No: W/II/2475/2025-26
