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ICICI Pru iProtect Smart Online Payment

ICICI Prudential is one of the largest insurance providers in India. It offers a range of plans, all designed to meet the moment and the market. The ICICI Pru iProtect Smart Online Payment is a simple process. Due to the entire process being online, one can peruse the details thoroughly and at their leisure before proceeding to process the payment.

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However, even though the process is easy, there may be unfamiliar people and might need support to understand how it works. 

Note: Know more about what is term insurance first before reading this article.

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Alternatives Available in the Online Payment Process

When one considers the ICICI Pru iProtect Smart Online Payment, various steps are there that one can consider. This list gives a small tabulation of all the possible methods in, which one may make the insurance payment online.

  1. Internet Banking 

    ICICI Pru iProtect Smart Online Payment happens can be done on the website itself. 

  2. Unified Payments Interface

    This is a very convenient payment option. Visit the UPI Payment option and enter the VPA address. Then proceed to approve the payment on the UPI app. For the Google pay app, the Gray VPA address should be available. The other way to do this is to go to UPI app, enter the iPru number, enter the premium amount and make payment through a dynamic VPA.

  3. Credit Card

    Another method to make ICICI Pru iProtect Smart Online Payment is the credit card. Most renowned credit cards are accepted, including Visa, MasterCard, Maestro, Diners, Discover, and American Express.

  4. Debit Card

    Another method to make ICICI Pru iProtect Smart Online Payment is the debit card. Most renowned debit cards are accepted, including Visa, MasterCard, and Rupay. 

  5. Infinity 

    This ICICI Pru iProtect Smart Online Payment facility is available for ICICI bank account holders. For more information, one can visit the official website of the company.

    This is a single online account facility, which allows ICICI Bank customers to link their bank account with multiple ICICI Prudential policies. Thus, they can manage their policies directly through the net banking account. In addition to premium payment, policyholders can check fund value and can perform other online transactions on their bank account. 

  6. E-Collect 

    E-Collect allows customers to log in to their bank accounts and pay the premiums as an NEFT or RTGS payment. The beneficiary's name, in this case, is ICICI Prudential Life Insurance Company Limited. One must carefully cross-check the beneficiary's bank, bank branch, IFSC code, and account number.

  7. Bill Desk 

    Visit billdesk.com and make payment through Net Banking. First-time visitors need to register on the website. They should then proceed to find ICICI Prudential Life Insurance from the dropdown and proceed with ICICI Pru iProtect Smart Online Payment.

  8. Paytm 

    Now ICICI Pru iProtect Smart Online Payment is available on Paytm. The process is extremely simple. Log in to the app and go to select insurance, select ICICI Prudential insurance. Enter the policy details such as the number and the date of birth. Proceed to payment. 

  9. Net Banking

    As long as ICICI Prudential Life Insurance is a partner to that bank, one should be able to visit the bank website and make payment under the net banking option.

  10. BillPay 

    This is another app that can make ICICI Pru iProtect Smart Online Payment. Go to net banking through the bank’s app and proceed to pay bills. Select insurance under that, followed by ICICI Prudential Life Insurance. Enter policy details like number and date of birth and proceed for payment. 

  11. Bharat QR 

    Go to the ICICI prudential website and select Bharat QR. Scan the QR code and proceed to make payment. 

  12. Amazon Pay 

    This is another app, which can be used to make ICICI Pru iProtect Smart Online Payment. Go to the app and select insurance under that, followed by ICICI Prudential Life Insurance. Enter policy details like number and date of birth and proceed for payment.

  13. Bharat Bill Payment Service 

    This is a new service with, which ICICI Prudential Life Insurance has tied up. It was the first provider to do so. 

  14. E-wallet 

    There are multiple e-wallets to choose from, such as MobiKwik, Jio Money, and Airtel Money. Go to the app and select insurance under that, followed by ICICI Prudential Life Insurance. Enter policy details like number and date of birth and proceed for payment.

  15. Phone Pe 

    This is another app, which can be used to make ICICI Pru iProtect Smart Online Payment. Go to the app and select insurance under that, followed by ICICI Prudential Life Insurance. Enter policy details like number and date of birth and proceed for payment.

  16. Google Pay 

    This is another app, which can be used to make ICICI Pru iProtect Smart Online Payment. Go to the app and select insurance under that, followed by ICICI Prudential Life Insurance. Enter policy details like number and date of birth and proceed for payment.

  17. Money2India 

    This is an easy way to send money to India if they have an ICICI Bank account. Now, this facility is available for ICICI Pru iProtect Smart Online Payment. In addition to the above processes, where people need to do the payment themselves online from their mobile device or laptop, there are direct debit options. These are also online payments, but they happen automatically. Another online option is to make the payment through an ATM if a person does not have an internet-connected device. A brief description of both follows:

  18. Auto Debit 

    This is the method in, which the policyholder's account is directly debited by the provider on due dates by the due premiums. Here are the rough alternatives under this:

    1. Direct Debit 

      The provider directly debits the bank after receiving a mandate form and a cancelled cheque from the policyholder. There is an added benefit that the policyholder can choose a debit date instead of the premium due date.

    2. Credit Card 

      Automatic debit can be done on credit cards of Visa, MasterCard, Maestro, and American Express. The credit card must be issued in the name of the policyholder.

    3. Electronic Clearing Service

      Electronic Clearing Service, or ECS, is a service by, which the bank accounts are automatically debited on the date specified or the premium due date.

    4. Website of the Bank

      By registering the ICICI plans with the bank website. The provider can directly debit the bank account on the date specified or the premium due date.

      Debit Card 

      Automatic debit can be done on debit cards of ICICI Bank, Canara Bank, Dena Bank, Corporation Bank, Deutsche Bank, Citibank, Standard Chartered Bank, and Kotak Mahindra Bank.

      NACH 

      This is the main clearinghouse through, which the automatic debits happen. 

    5. E-Mandate 

      Certain banks give this facility in net banking to activate the auto-debit option. 

    6. Electronic Bill Payments

      Auto debit can also be activated on electronic bill payments. Simply log in to net banking, go to manage bills, choose insurance, choose ICICI Prudential Life Insurance, input policy details such as number and death of birth, and register. This facility is available with certain banks only. 

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Alternatives Available in the Offline Payment Process

The discussion has focused on online payments either from an internet device or another online process in the paragraphs above. However, it would be remiss not to provide the offline options as well, so that those who are uncomfortable with the online process can discover some alternatives:

  1. DropBox 

    ICICI ATM vestibules have drop boxes where one can drop a cheque or demand a draft for their premium payment. Ensure to provide the policy number, date of birth and contact number overleaf the cheque or demand draft.

    Another place that has a dropbox is MINC drop boxes in Mumbai. The process for dropping remains the same. The beneficiary on the cheque or demand draft is ‘ICICI Prudential Life Insurance Co. Ltd. Policy No. ###’.

  2. Direct Remittance 

    The policyholder can deposit a cheque or demand draft at the following locations:

    1. ICICI Bank 

      Available at all branches. The value of the amount must be less than 50,000 INR. Beneficiary name is ICICI Prudential Life Insurance Co. Ltd. Policy No. ###’.

    2. ICICI Prudential Life Branch Office 

      In addition to cheques, one can pay by credit and debit card at the following locations: 

      Common Service Center 

      This is available across India. The premium payment is made with cash, with a value of less than Rs 50,000. 

      Axis Bank

      This is available at all branches. The value of the amount must be less than Rs 50,000. Beneficiary name is ICICI Prudential Life Insurance Co. Ltd. Policy No. ###’.

      State Bank of India 

      This is available at all branches. The value of the amount must be less than Rs 50,000. Beneficiary name is ICICI Prudential Life Insurance Co. Ltd. Policy No. ###’.

      Overleaf the cheque or demand draft, one must provide the policy number, date of birth and the contact number. 

Difference between Online and Offline Payment Modes

Comparing ICICI Pru iProtect Smart Online Payment and offline payment, the following are the benefits that each of them brings:

  • For ICICI Pru iProtect Smart Online Payment, the availability of a secure and stable internet connection, in addition to a device, is necessary.
  • However, ICICI Pru iProtect Smart Online Payment benefit is that only one person can do the entire process without needing any external support. 
  • It is also very convenient as websites, and mobile apps are sufficient to get everything done.
  • Another benefit of online payment is that all details relating to policy, such as due date, due amount, and terms and conditions, are readily available. 
  • There are no discomforts related to queuing in online payment, waiting in the crowd at a bank, or waiting for the process to complete. Especially in the pandemic, this is a significant advantage.

You may also like to read about term insurance

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