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LifeGuard comes in three variants: LifeGuard (life cover without maturity benefit), LifeGuard with Return of Premium (life cover with maturity benefit), and LifeGuard Single Premium (premium at policy inception, cover till policy matures). Invest in a plan that best suits your requirements and guarantee your family lifelong comfort and security.

Plan         Minimum Sum Assured     Policy Term                    Premium

LifeGuard        Rs 5 Lakhs       Between 5 & 30 years       Monthly, half-yearly or annually
LifeGuard
with Return
of Premium      Rs 5 Lakhs        Between 10 & 30 years    Monthly, half-yearly or annually

LifeGuard
Single Premium Rs 2.5 Lakhs     Between 3 & 15 years      Single Premium plan

Advantages of LifeGuard Plan

LifeGuard offers a choice of 3 life insurance plans:
LifeGuard, LifeGuard with Return of Premium and LifeGuard Single Premium. Take a look at the features and benefits of the plans:

Death benefit:
Provide for your beneficiary to receive the Sum Assured should something happen to you.

Extended life cover:
Invest in LifeGuard with Return of Premium plan and safeguard your family with an additional cover—at 50% of the original Sum Assured—for 5 years after your policy terminates.

Additional riders:
Protect your family from accidents and disability by adding on the Accident and Disability Benefit Rider (ADBR) and the Waiver of Premium Rider (WOPR).
ADBR: The rider benefit amount will be paid to your family in the event of death or disability due to an accident.
WOPR: In the case of total and permanent disability due to an accident, all further premiums will be waived and policy benefits will continue.

Tax benefits:
Receive tax deductions on premiums paid (u/s 80 C). Enjoy tax exemptions on maturity proceeds and death benefits [u/s 10 (10 D)] as per prevailing Income Tax laws.

Maturity benefit:
Invest in LifeGuard with Return of Premium plan and receive all the premiums you have paid, when your policy matures.

Sources :http://www.iciciprulife.com/