ICICI Prudential iProtect

POSTED BY Zeitegist ON October 9, 2010 4:06 pm COMMENTS (3)


I am 23 and I don’t have a life-insurance yet. I reviewed all the pure term life insurance policies available in market and zeroed in on ICICI Prudential’s iProtect which I found, is the cheapest. I thought of buying this policy for an sum assured of 70 lakhs for which the annual premium is 7000rs approximately.

Before I buy this policy, I would invite valuable suggestions from the members of this forum regarding this policy, the quality of service offered by these guys and their claim settlement ratio. I am I justified in thinking that its not as safe and as good as any LIC term policy? Also, enlighten me if I have missed out something. Thanks!!! 🙂

3 replies on this article “ICICI Prudential iProtect”

  1. Just wait for some more days. Aegon Religare are reducing their premium for online term insurance policy & that will trigger the war between the companies to reduce the premium further. Whosoever does that, customer will be the ultimate winner.

    Hope it will help you.

  2. rakesh says:

    I had taken this policy and canceled it within a week. Their customer service was pathetic.
    I had to follow-up with them for everything, they did not bother to even contact me.
    Moreover it took over a month to get my refund back.
    Stick to LIC, even though the premium is high but rest assured your family will not have any problems in case of any claims in future. Even you will have a peace of mind.
    I am still holding to my LIC policy.


    1. Zeitegist says:

      Hi Rakesh/MoneySavingsHelp
      Thanks a lot for your reply.

      Can you please elaborate what exactly happened with you? I found that ICICI guys have pretty good customer care though I haven’t purchased any policy from them yet or perhaps the things have changed.
      I have serious reservations against LIC. I was mis-sold LIC’s Jeevan Anand which is a junk policy by an agent. They have no channel of business except agents who are paid out of premiums. No doubt they are the most profitable and financially sound company of India but huge profits are also an indicator that the customer is being screwed.

      The thing that attracted me towards such online policies is that the intermediary is removed and the private companies who offer it are struggling to make ground in the Indian insurance industry which has so far been under the unjust monopoly of LIC.

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.