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Check Plans Online Before Taking A Decision

Monday, July 06, 2015
By Manoj Aswani

Manoj Aswani is VP at

I am 31 year old, male (non-tobacco consuming) looking for a term plan of Rs. 30 Lakh from ICICI Prudential life insurance... They have two option “ICICIPRU iProtect Option II” and “ICICIPRU iCare Option II”. When I go through the detail, I didn’t find much difference between the two. However, their premium rates are different. Could you please help me to choose the best one from both and also what the actual difference between them? Is this good to buy these plans online or to go to some agent.
—Anmol Parab, Grant Road

One of the key differences is that to buy iProtect II you may have to undergo a medical test and for iCare II you do not have to undergo any medical test.iCare II is a completely online plan. The features are the same. You should buy ICICI Pru Life iProtect II

I am looking for health, Term, Money back and Pension plan. My age is 27 and monthly income is around 45000/-. Please suggest some good plans.
—Parth Shah, Colaba

1. Buy an individual health insurance policy for your father. Enter his details and calculate premium for health insurance
2. Buy a Term cover of 75 lakhs to 1 crore for yourself. Check out popular online term plans.
3. Meet up a financial planner and discuss your investment needs in detail. At age 27, you can look at investing in equity products.
4. For pension plans you can start investing at age 35 and continue investing till 55 or 60. Check out the different Pension Plans in India and then take a decision.

I have invested in ICICI Prudential Wealth Builder II RP, I pay Rs 100100 annual premium. It is a 5 year Premium term and 10 year policy term. I have already paid 2 premiums out of 5. I kept Auto switch between funds selected Maximiser Fund V and Income Fund. My questions are 1. Is this good ULIP plan to invest in for 5 year short term? 2. Will I get around 15-16% return after my 5-6 year? 3. Is selected fund in ATS will give good returns on investment? Please advice
—Karan Khona, Thane

1.    It is a unit-linked plan so if the markets are performing well then you will get good returns. (And if it gives good returns, you will consider it as a good plan)
2.    Nobody can guarantee you the rate of return for a unit-linked plan.
3.    You will have to choose funds and monitor them closely. Switch if they do not perform.

My mother aged 81 is having individual mediclaim of Rs. 3 lakhs from National Insurance Company, can she get a Top-up/Super top-up of Rs. 5, 10 or 20 lakhs?
—Ashwin Shamsi, Grant Road

For age 81, you can look at the top up policy from Religare Health Insurance

(The author is Vice President at, insurance comparison website in India. You may write to him at
[email protected]).

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