What is Life Insurance?
Life insurance is an agreement between a life insurance company and the policyholder. Under the terms & conditions of the policy, the life insurance company agrees to the payment of a stated amount of monetary benefits to a named beneficiary, on the happening of a specified event contingent on the human life. Usually the agreement provides for :-
Payment of an amount by the life insurance company on the date of maturity or at specified periodic intervals or at death, if it occurs earlier.
Periodical payment of insurance premium by the policyholder to the life insurance company
What are the benefits of buying life insurance policies?

Life Insurance is most commonly used to financially protect your family from the premature death of you and/or your spouse. Besides providing for financial security in the case of one's untimely death, life insurance can also be used to provide for your retirement or your children's education and marriage and also for tax benefits.

What is premium? How often do I have to pay Premium?
This is the contribution / payment that a policyholder makes to a life insurance company to obtain insurance cover. He or she has a responsibility to ensure that the correct amount stated is paid as and when it falls due as stated in the policy document.

The policyholder has the choice to pay his premiums Monthly, Half-yearly or Annually.

What is policy period?

Policy Period is the period of coverage provided by an insurance policy. It also known as the Term of the policy.


What is Insurance online?

 Insurance Online is a concept of applying for insurance through the Internet. This concept has provided a much-needed help to customer to transact on his own in a matter of minutes.
With Insurance Online, a customer can apply for insurance products at the click of a mouse without writing cheques or filling forms.

Do I need to register separately for this facility?

You will be registered automatically for the online life insurance facility on :-

  • (a) accepting the terms and conditions for the facility online
  • (b) confirming your personal details to ICICI Prudential on the website
On the Declaration page your personal details will be pre-filled. You can just confirm them or can edit the same with ICICIDirect, if required. This will be a one-time registration and having done that, you can buy the insurance policies online hassle-free.

Note: In case your Date of Birth on the Declaration Page is incorrect, kindly send a letter duly signed by you( i.e.primary account holder) to ICICIdirect along with a copy of any of the following documents i.e. PAN, Passport, Driving License or Voter ID card and get it changed. Please buy Life Insurance only when your correct date of Birth is reflected on the Declaration Page.


Do I need to allocate funds for buying insurance online?

No, you need not allocate funds for investing in Insurance. The premium payable on account of purchase of the policy will be debited from the Net Withdrawable Balance in your bank account linked to the ICICIDirect e-invest account.

What if I do not have sufficient balance in my bank account at the time of purchase of the policy?

If you do not have sufficient balance in the Net Withdrawable Balance in your bank account at the time of purchase of the policy, the transaction will not go through immediately. However, the details of the transaction will be recorded. You will have to make the funds available in your bank account within seven days for the transaction to be successful. On your failure to make funds available within seven days, the transaction will fail.

Can I modify / cancel my transaction?

While placing an order for Insurance policy, you can modify or cancel your order till you finally confirm the order. Once you click on 'Buy Now' you cannot modify or cancel online the order placed by you. In case you need to modify or cancel a policy after this, you need to write to with your policy details for knowing the cancellation applicable charges and getting further directions. Therefore, confirm the policy details carefully before clicking on 'Buy Now'.

Can I transact at any time of the day?

Yes, you can transact at any time of the day.

After my first purchase, can I immediately enter into another transaction?

Yes, you can transact, as many times as you wish to. There is no restriction on the number of transactions.


Will I receive a confirmation for the transaction?

Yes, an e-mail would be sent to you stating all the transaction details, once the premium is recovered from your bank account.

Who are the users of this facility?

All ICICI Direct users can use the insurance facility.

How do I purchase Insurance from on ICICI Direct?
You can buy a Life Insurance policy through ICICIDirect in just 10 mins ..
Click on the "Insurance" tab on
Accept the online Terms & Conditions of ICICIDirect (one-time process)
Click on the link of ICICI Prudential Life Insurance
Confirm your details being passed on from ICICIDirect to ICICI Prudential (one-time process)
Accept the online Terms & Conditions of ICICI Prudential (one-time process)
Complete your Benefit Illustration
View your Benefit Illustration results
Register with InstaInsure (this will help you save your Benefit Illustrations & Applications for a later date)
Fill up the Application Form
Your bank account linked to ICICI Direct will be debited for the premium amount
Once completed, you will be displayed an Acknowledgement Page, which will contain your policy details. Simultaneously, an email will also be sent to you. You can print the same and keep it for future reference.
When will I be able to view my purchase details?
You can view all your saved Benefit Illustrations and Applications in the "Current Policies" section.
How do I claim the Sum insured?
The sum assured on a life insurance policy is payable on maturity (end of policy term) or on death of the policyholder. In the case of policyholder's death, the nominee must inform the life insurance company of the death and provide all the necessary documents such as notification of death etc. The company will then process the papers and make the payment to the nominee.
If I want to change my address with respect to my life insurance policy, what do I need to do?
If you wish to change your address in the records of ICICI Prudential, please write to and a Customer Service representative from ICICI Prudential will assist you for further processing.

 If I do not have an account with ICICI Direct, how do I go about buying insurance online?

You can request our representative to visit you (Select Cities Only) by registering online through our website. You could also visit any of the following ICICI Bank Branches / Centres,where our trained personnel help you in becoming ICICIdirect e-Invest customer. Alternatively you can request us for a form by sending us an e-mail at and our CSE will contact you to complete the initial account opening formalities.