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ICICI Term Insurance is a comprehensive term insurance plan that provides cover to your family in case of an eventuality. Thus it is extremely important to keep the plan by paying premiums regularly. ICICI has made the online payment process convenient by hosting a range of premium payment options you can choose from.
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Note: Know more about what is term insurance first before reading this article.
Let us see the various methods through which you can make your ICICI Prudential Term Insurance payment online:
Term Plans
ICICI term insurance offers a wide range of online payment options from which you can choose the most convenient for you. You can opt for any of these options for an easy and effortless premium-paying experience.
You can also make online payments for your ICICI term insurance through Policybazaar. All you need to do is to follow the steps below to make an online premium payment.
Step 1: Go to Policybazaar’s term insurance plan page
Step 2: Fill in your details like qualification, annual income, smoking habits, and occupation
Step 3: Select the ICICI term insurance plan of your choice
Step 4: Enter the required information and proceed to pay
You can easily pay using Infinity by linking your ICICI Bank account to the ICICI term insurance plan. This facility will allow you to check fund value, make premium payments, and make e-transactions straight from the bank account itself.
ICICI has a list of banks available through which you can make your online premium payments easily and conveniently.
You can now make quick premium payments online using UPI by following the below-mentioned steps.
Step 1: Select UPI as the premium payment option
Step 2: Enter the valid VPA address
Step 3: Go to the UPI app and approve to pay
You can also enter your credit or debit card details to make online payments for your ICICI term plan. Credit cards can be Visa, MasterCard, Maestro, Diners, Discover, and American Express, whereas debit cards can be Visa, MasterCard, and Rupay only.
You can make NEFT/RTGS transfers to pay your premiums online. You can do this by logging in to your net banking account and opting for NEFT/RTGS. You would be required to fill in the following details before making online payments:
Beneficiary Name: ICICI Prudential Life Insurance Company Limited
Beneficiary Bank: ICICI Bank
Beneficiary IFSC code: ICIC0000104
Bank Branch: CMS Branch, Mumbai
Bank Account Number: IPRU(your application/policy number)
Digital wallets like Paytm, PhonePe, Google Pay, Amazon Pay, and more can also be used to pay premiums online. All you need to do is follow these steps
Step 1: Log into the app and go to the insurance section
Step 2: Select the ‘ICICI Prudential Insurance’ icon from the insurer’s list
Step 3: Enter your policy details and date of birth to log into your customer portal
Step 4: Fill in your premium amount and proceed to pay
Term Plans
Here is a list of all the term insurance benefits you can get from paying your premiums online:
Convenient: Since the entire process is online, you can pay your premiums from any place, anytime, without worrying about the working and non-working days of the company. The customer portal is available 24x7 and can be accessed from anywhere.
Time Efficient: The online customer portal makes the process, time, and energy efficient as you can make online payments with ease in just a few clicks.
Automatic Premium Payment: ICICI offers the option of opting for automatic premium payments through which you won’t have to worry about remembering to pay the premiums and keeping the plan active. You can enable your credit or debit card, UPI, net banking, and more to auto-deduct the premium from your bank account.
Different payout options: Policybazaar gives you the benefit of exploring the term insurance payout options offered by different insurers while purchasing the policy online. ICICI term insurance offers 3 different payout options, lump sum payout, lump sum + fixed monthly income, and lump sum + increasing monthly income.
No Additional Charges: The online premium payment is free of service or any other additional charges, which makes the online payment feature much more preferable.
Secure Transaction: ICICI’s online payment gateway offers maximum security and protection as the transactions are contained between you and the insurer itself.
You can choose from any of the above-mentioned premium payment options to pay your premiums online.
Make sure to provide accurate policy details like policy number, phone number, and email ID.
You can make payments online for active policies and download a receipt of all the payments.
You can also use the ICICI term insurance calculator to calculate the amount you need to pay for premiums online.
ICICI term insurance also provides a 30-day grace period during which you can pay your premiums if you were unable to pay them on time.
ICICI Term Insurance offers these various payment methods to make the premium payment experience quick and easy. With these ICICI Prudential term insurance online payment options, you can make online payments from the comfort of your home, in just a few clicks.
†Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by any insurer. This list of plans listed here comprise of insurance products offered by all the insurance partners of Policybazaar. For a complete list of insurers in India refer to the Insurance Regulatory and Development Authority of India website, www.irdai.gov.in
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