Don't do any deal with ICICI. Its a fraud. We have take insurance on our loan amout.
We were ready to pay lumsum amount, but they convince us to pay based on monthly basis, w/o telling us that it will be charged at 12 % floating interest, which later increased to 14 %. Also, its being seven months now, that we have not recevied our policy, though EMI is deducted every month from our bank.
When we enquired, we came to know that policy is made on some other property, which is not ours. When tried to contact the concerned person, he dosn't pick up the phone.
In brief: Before taking insurance they will call u 100 times, to take a policy and fool u giving all fake advantages and later they won't respond at all.