ICICI Prudential Life Insurance – Life Raksha 

ICICI Prudential Life Insurance –

Life Raksha 

A Term Life Insurance Plan


ICICI Prudential Life Insurance Company Ltd. is a joint venture between ICICI Bank Ltd., one of India’s largest private sector banks, and Prudential Corporation Holdings Limited.  ICICI Prudential Life began its operations in 2001 and has consistently been the market leader amongst private players in the Indian life insurance sector.


ICICI Pru Life Raksha ensures your family’s financial security even in your absence with a Life Cover, while enjoying tax benefits.


We care for our family and wish to fulfil their needs. But life is uncertain. We would want that the needs of our loved ones are provided for in our absence. ICICI Pru Life Raksha, a plan that provides us and our family complete protection. Under this plan, in case of any unfortunate event during the policy term, our family receives a lump sum that will take care of their financial needs.

In case of an unforeseen event during the policy term, the higher of the following will be paid to our family:

  • A fixed, minimum amount called Sum Assured
  • An amount equal to 10 times the annual premium
  • 105% of the total premiums paid

Benefits of ICICI Pru Life Raksha


Getting a policy from ICICI Pru Life Raksha comes with a number of benefits. A few advantages of the plan are mentioned below:


  • Our first priority is always securing the future of our family, their comfort and happiness. We would want them to be protected even when we are not around. ICICI Pru Life Raksha plan takes care of this need to secure the future of our family. With ICICI Pru Life Raksha, in case of an unfortunate event, our loved ones are given a lump sum amount to help manage their regular expenses.


  • With ICICI Pru Life Raksha plan, we can reduce our taxable income by paying up to 5 lakh as premium under Section 80C. This will help us to save tax. The amount received on death is also tax free.




List of things you must know about ICICI Pru Life Raksha term life insurance plan

  • Your premium amount depends on your age and the Life Cover you choose  
  • You have to pay the premium regularly throughout the policy period
  • Your policy lasts for 5 years
  • Entry age (last birthday)– 18 years
  • Maximum maturity age (last birthday)– 60 years
  • Minimum sum assured: Rs 50,000
  • Maximum sum assured: Rs 500,000
  • Premium payment: Based on the policy taken
  • Minimum and Maximum Premium: Depends on the minimum and maximum Sum Assured and age of the life assured
  • Modes of available premium payment: Yearly, Half-yearly and Monthly. For monthly frequency there is a premium loading of 5% unless the payment is made by direct debit



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