It was a Friday evening and Amit & Priya were out for dinner. While having dinner, they started discussing about their day. Priya told Amit about a colleague who resumed work today after a long medical leave. He had been diagnosed with a severe heart condition. Her colleague informed her about how managing the costs had affected him and his family. This made Priya think about their future and how they could tackle any such unforeseen events.

Amit also remembered a mail he got from his HR, advising him to submit investment proofs for tax calculations. He told Priya that this time instead of doing a hurried job of tax saving he would like to look at some options that give them tax benefits and help them plan for their future too. Priya agreed and they decided to meet their financial advisor and friend Rahul to find a solution.

After catching up on other things, Rahul asked them about their requirements. Amit told Rahul that this year Priya and he are looking out for an option that could help them save taxes and also plan their future.

Rahul acknowledged and appreciated the fact that Amit & Priya were thinking in the right direction. Given their unique requirement, Rahul suggested a product that would give them the tax plus advantage and help them plan for their future at the same time.

A product that will not only help them both save tax but will also give them a high life cover at a low cost and cover them from 34 critical illnesses^ like  heart attack, kidney failure etc.

Amit & priya were very happy with the suggestion and asked Rahul about the investment option. Rahul introduced them to ICICI Pru iProtect Smart, a term insurance product.

Iprotect Smart is a one of its kind term insurance plan that gives Life cover + Cover for 34 critical illnesses^ + Accidental death benefit’ + Flexibility of premium payment + tax savings u/s 80C and 80D upto Rs. 54,075*.

Both Amit and Priya were thrilled with the multiple benefits offered in just one plan and were convinced that this was one of the right products for them to invest in.

 

Check Also : Term Insurance Plan Premium Calculator

 

Disclaimers :

‘Applicable for life plus benefit option and All-in-one benefit option. In case of death due to an accident, the company offers a pay-out that is double the life cover opted by you. The payout is subject to a maximum of Rs. 2 crore.

*Tax benefit of Rs 54,075 is calculated at highest tax slab rate of 30.9% (including Cess) on insurance premium u/s 80C of Rs 1,50,000 and health premium u/s 80D of Rs 25,000. Tax benefits under the policy are subject to conditions under Section 80C, 80D, 10(10D) and other provisions of the Income Tax Act, 1961. Indirect taxes and applicable cesses will be charged extra, as per prevailing rates. Tax laws are subject to amendments from time to time. Please consult your tax advisor for details. For more details on risk factors, terms and conditions please read the sales brochure carefully before concluding a sale.

^The Critical Illness Benefit is accelerated and not an additional benefit which means the policy will continue with the Death Benefit reduced by the extent of the Critical Illness Benefit paid. It is available only under Life & Health and All in one options. To know more, please refer the product brochure.

Advt : L/II/1087/2016-17

ICICI Pru iProtect Smart (UIN: 105N151V01)

 

About The Author

ICICI Prudential Life Insurance Company Limited is one of the leading life insurance companies in India. We provide insurance plans & policies that include a range of products like term insurance, ULIPs, tax saving plans and pension & retirement plans.

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