ICICI Prudential Precious Life Plan: Term plan for people with chronic diseases

Are you or any of your family members suffering from chronic ailments like hypertension (high blood pressure), diabetes (blood sugar), asthma, obesity etc.? Your friends and relatives may have warned you that you may not be able to have life insurance cover with such existing conditions. It is true that people with pre-existing diagnosed conditions find it difficult to get life insurance cover. Most insurers will require you to undergo a comprehensive check-up, based on which the insurer will decide whether to issue you a life insurance policy or not. In case you have a pre-existing health condition that is chronic and severe, the insurance company may deny issuing a policy to you.

If you or your family members are suffering from pre-existing conditions then you do not need to despair and give up. Our insurance product experts in Eastern Financiers have identified a term life insurance product, which may be ideally suited for your needs. ICICI Prudential Precious Life plan is specially designed to offer life cover to individuals who have existing health problems such as diabetes, cholesterol, high blood pressure, or even those who have undergone critical surgeries such as angioplasty or open heart surgery.

Though we always advise our valued customers to buy adequate life insurance cover when they are young and healthy, we feel that persons with existing chronic ailments committed to a healthy lifestyle should not be denied life insurance cover because an unfortunate death can cause tremendous financial distress to the family. With ICICI Pru Precious Life policy, people with existing medical conditions can get adequate life cover to take care of their family’s needs in the event of an untimely death. Some people who have chronic ailments may have bought life insurance when they were younger and healthier. But they should also review their insurance needs for the following reasons:-

• You may have bought a life insurance cover based on what you could afford at the time of buying your policy. You should review whether your life cover is adequate and buy additional term insurance
• Our certified financial planners suggest that your life insurance cover should be at least 10 to 15 times your annual income. If your current life insurance policy does not provide that much amount of cover, you should buy additional cover
• Mortality is a morbid topic, but you should always try to ensure financial protection of your loved ones in any adverse event. With chronic ailments like hypertension, diabetes, cardiac and pulmonary conditions, mortality risks are higher. You should ensure that your family has adequate protection in the event of an unfortunate death
• Term plans are the best life insurance products for ensuring adequate protection of your family at affordable costs. With ICICI Pru Precious Life policy, you can buy adequate life cover at affordable premiums even if you are suffering from pre-existing medical conditions.

Salient Features of ICICI Prudential Precious Life Plan

• Wide Coverage: Life cover for individuals with existing health problems such as obesity, diabetes, high BP, asthma, and even for those who have successfully recovered from cancer or any other surgeries
• Enhanced Protection: Option to enhance your safety net withAccidental DeathBenefit (Life Plus Benefit Option). You can discuss with our insurance advisors if you need this benefit
• Need based benefit pay-out: Choose to receive the benefit amount as a lump sum or as monthly income or a combination of both, depending on specific financial needs of your family in the event of an unfortunate death
• Affordable costs: Lower premiums for non-tobacco users. Even if you are have existing medical conditions you do not need to spend a large part of your savings on life insurance premiums. Affordable premiums will ensure that you have sufficient savings left for investing towards your other short term, medium term and long term financial goals
• Access to medical reports: You can access your medical reports, which can help you (in consultation with your doctor) in formulating a comprehensive plan for changes in your lifestyle, diet and medications (if required) for your long term health and well being
• Flexibility: You have the flexibility to pay premium once, for a limited period or throughout the policy term (you can take a plan maximum upto 70 years of your age) depending on your specific financial situation and needs
• Tax benefits: You can claim deductions from your taxable income for the premiums paid under Section 80C of Income Tax Act 1961