Group Insurance 439 views May 4, 2021

ICICI Pru Super Protect – Credit is a group insurance plan that provides life cover to the employees of an organization/company. Here, the master policyholder is the employer who can choose the policy benefits from the following –

  1. Accelerated Terminal Illness (TI) Benefit
  2. Accidental Death (AD) Benefit 
  3. Enhanced Accidental Death (EAD) Benefit
  4. Accelerated Accidental Total and Permanent Disability (ATPD) Benefit
  5. Cancer Protect (CP) Benefit
  6. Waiver of EMI on Hospitalisation (WoEH) Benefit
  7. Accelerated Critical Illness (ACI) Benefit
  8. Additional Critical Illness (CI) Benefit

Read this page further and know more about the benefits of the ICICI Pru Super Protect – Credit Plan.

Buy Group Health Insurance @ Low Premium

ICICI Pru Super Protect – Credit Plan Benefits

The benefits payable under ICICI Pru Super Protect – Credit are chosen by your employer, so along with death benefit, the insured members’ can avail of other benefits under this plan, provided such benefits have been opted by the master policyholder. Check out the list of benefits available under this plan –

Death Benefit

The death benefit will be payable to the nominee of the insured member upon his/her death during the coverage term. Once the death benefit is paid, the member’s cover will terminate and all rights, benefits and interests of the member under the master policy shall stand extinguished.

Accelerated Terminal Illness (TI) Benefit

This benefit is payable to the insured member on the diagnosis of terminal illness during the coverage term. TI is an accelerated benefit and not an additional benefit under this plan, so the payment under this benefit will not be in addition to the death benefit.

Note – TI benefit is equal to the death benefit, and upon its payment, the member’s cover will terminate and all rights, benefits and interests of the member under the master policy will stand extinguished.

Accidental Death (AD) Benefit

In case the insured member dies due to an accident, the AD benefit will be payable to the nominee. This is an additional benefit, so it will be paid in addition to the above-mentioned death benefit.

Note – AD benefit will be less than or equal to the death benefit, and upon its payment, the member’s cover will terminate and all rights, benefits and interests of the member under the master policy will stand extinguished.

Enhanced Accidental Death (EAD) Benefit

In case of death due to an accident, where both accident and death occur during the EAD benefit coverage term, the EAD benefit will be payable to the nominee. Whereas, if death happens due to an accident on an airplane, train or ship, an amount double the EAD benefit will be payable to the nominee.

Note – EAD benefit is an additional benefit, so it will be payable in addition to the death benefit, it will be less than or equal to the death benefit.

Accelerated Accidental Total and Permanent Disability (ATPD) Benefit

If the member suffers from total and permanent disability due to an accident, the ATPD benefit will be payable. This is an accelerated benefit, so the payment will not be in addition to the death benefit. ATPD benefit is equal to the death benefit, and upon its payment, the member’s death benefit, TI benefit (if opted) will be reduced to the extent of the payment made under ATPD benefit.

Cancer Protect (CP) Benefit

In case the member is diagnosed with a minor condition – Carcinoma in situ of any organ except skin and early-stage cancer claim, 25% of the CP Benefit will be payable. Cancer of specified severity (major condition) will be covered up to 100% of the CP benefit, and if earlier minor condition claims are made, the same will be reduced from the major condition claim. This is an additional benefit, and the claim is admissible under this benefit if the member is diagnosed with any of the above-mentioned conditions for the first time.

You can make multiple minor claims under this benefit till the total payout does not exceed 100% of the CP benefit. Multiple minor condition claims are admissible if there is at least a 6-month gap between the date of diagnosis of a minor condition. However, this 6-month period doesn’t apply to claims made for major conditions following the one made for a minor condition.

The benefits can be claimed for the following organs –

  1. Basal cell and squamous skin cancer
  2. Corpus uteri, vagina, fallopian tubes, cervix uteri, ovary
  3. Colon and rectum
  4. Penis, testis 
  5. Stomach and esophagus

Note  – Multiple minor condition claims from the same organ aren’t admissible, and once the CP benefit reaches the 100% limit, the member’s CP benefit will terminate.

Waiver of EMI on Hospitalisation (WoEH) Benefit

WoEH benefit is payable to the member if he/she is hospitalized for a continuous period of 7 or 15 days. This benefit is a maximum of 6 EMIs and can be claimed once every policy year.

Accelerated Critical Illness (ACI) Benefit

ACI benefit is payable if the member is diagnosed with a covered critical illness as per the chosen coverage package. The master policyholder can choose any one from the following Critical Illness Covers –

EssentialClassicComprehensive
Cancer of Specified Severity

First Heart Attack of Specified Severity

Open Chest CABG

Stroke resulting in permanent symptoms

Kidney Failure Requiring Regular Dialysis

Major Organ/Bone Marrow Transplant

Loss of Independent Existence
Cancer of Specified Severity

First Heart Attack of Specified Severity

Open Chest CABG

Stroke resulting in permanent symptoms

Kidney Failure Requiring Regular Dialysis

Major Organ/Bone Marrow Transplant

Loss of Independent Existence

Blindness

Multiple Sclerosis with Persisting Symptoms

Alzheimer's Disease

Heart Valve Surgery (Open Heart Replacement or Repair of Heart Valves)

Deafness

Apallic Syndrome

Benign Brain Tumour

Brain Surgery

Coma of Specified Severity

Major Head Trauma

Permanent Paralysis of Limbs

Major Burns
Cancer of Specified Severity

First Heart Attack of Specified Severity

Open Chest CABG

Stroke resulting in permanent symptoms

Kidney Failure Requiring Regular Dialysis

Major Organ/Bone Marrow Transplant

Loss of Independent Existence

Blindness

Multiple Sclerosis with Persisting Symptoms

Alzheimer's Disease

Heart Valve Surgery (Open Heart Replacement or Repair of Heart Valves)

Deafness

Apallic Syndrome

Benign Brain Tumour

Brain Surgery

Coma of Specified Severity

Major Head Trauma

Permanent Paralysis of Limbs

Major Burns

Motor Neurone Disease with Permanent Symptoms

Surgery to aorta

Chronic Lung Disease

Chronic Liver Disease

Parkinson’s Disease

Cardiomyopathy

Loss of Limbs

Primary Pulmonary hypertension

Loss of Speech

Systemic lupus Eryth. with Renal Involvement

Aplastic Anaemia

Muscular Dystrophy

Poliomyelitis

Medullary Cystic Disease Hospitalization

Claims are admissible under this benefit if the insured member is diagnosed with the above-mentioned critical illnesses for the first time. ACI benefit will be less than or equal to the death benefit. As it is an accelerated benefit, it will not be paid in addition to the death benefit. On payment of this benefit, member’s death benefit, TI benefit (if opted) will be reduced to the extent of the payment made under ATPD benefit (if chosen).

Additional Critical Illness (CI) Benefit

The master policyholder can opt for either ACI or CI benefit. The CI benefit will be payable to the member if they are diagnosed with any of the covered critical illnesses during the coverage term CI benefit will be payable to the insured member if he/she survives for 14 days from the date of diagnosis. Claims are admissible under this benefit if the member is diagnosed with the covered critical illness for the first time. This is an additional benefit and the claim amount will be less than or equal to the death benefit. Critical illnesses are covered under – Essential, Classic and Comprehensive critical Illness coverage packages as chosen by the master policyholder.

Free Look Period

The master policyholder or the member can review the terms and conditions of this policy and can return the policy document/certificate of insurance to the insurer within 15 days from the date of its receipt. On cancellation during this free look period, the insurer will return the paid premium after the deductions of – stamp duty charges, medical examination expenses, the proportionate risk premium for the period on the cover.

The free look period will be 30 days from the date of receipt of the policy, provided the member is enrolled through electronic mode or voice mode such as – telephone-calling, SMS, direct postal mail, newspaper & magazine inserts, solicitation through any means of communication other than in person.

Suicide Clause

If an insured member commits suicide within one year from the date of commencement of cover, 80% of the paid premium will be payable to the nominee. On such payment, the member’s cover will terminate and all rights, benefits and interests of the member under the master policy shall stand extinguished.

Note – In the case of Joint Life cover, the suicide clause applies to either of the members committing suicide, and after such payment, both the members’ cover will terminate.

Conditions onICICI Pru Super Protect – Credit Plan Benefits

The following conditions shall apply to this policy –

  1. Payable benefits are based on the coverage option chosen by the master policyholder, and it will be mentioned in the member’s certificate of insurance
  2. Policy benefits are payable if the members’ cover is in force at the occurrence of an event
  3. If the member chooses the Reducing Cover option, the payable benefits shall reduce throughout the benefit coverage term. The coverage will remain constant during the moratorium period and reduce thereafter, as stated in the certificate of insurance.
  4. If the Level Cover option is chosen, the benefits remain constant throughout the coverage term.
  5. If Joint Life Coverage Option is chosen, on payment of the benefit in respect of the first claimant, the cover of both the lives will cease automatically when the claim amount reaches 100% of the sum insured

People Also Read