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T&CApply. COMP/DOC/Jul/2021/197/6238

Life Insurance, Retirement Planning, and Wealth Creation

All in one place.

iProtect Smart

Key Features
  • Life cover to secure your family
  • Critical Illness^ cover option
  • Lump sum or regular income to your loved ones in your absence
  • LOW COST ##

Start with just ₹ 2,400 per month (under Life Option)


ICICI Pru Guaranteed Income For Tomorrow

Key Features
  • 100% guaranteed~~ tax-free`` income/lumpsum
  • Option to get income from 2nd year*`
  • Upto 3.5% Additional Maturity Benefit online~*

Start with just ₹ 2,500 per month


Signature Online


Key Features
  • Tax-free` market-linked returns
  • Extra wealth boosters`* @3.25%
  • Easy withdrawals at no cost^*

Start with just ₹ 2,500 per month


ICICI Pru Guaranteed Pension Plan

Key Features
  • Lifelong guaranteed~# income
  • Option to defer income upto 10 years
  • Return of purchase price

Get 1% extra annuity every year

~# Conditions Apply.
Complete protection for your family through
our Term Plan ICICI Pru iProtect Smart
Tell us about yourself to customize your plan I am:
  • Single

    Option to change nominee later Save tax up to ₹54,600``

  • Married without kids

    Full claim payout on diagnosis of 34 critical illnesses (optional)^ Option to increase life cover at the time of 1st & 2nd child birth, without any medicals

  • Married with kid

    Full claim payout on diagnosis of 34 critical illnesses (optional)^ You can choose how your family will get the life cover amount - as lump sum and/or monthly income

  • Working woman

    Special rates for women Full claim payout on diagnosis of 34 critical illnesses (optional)^

  • Self employed

    MWPA – Protection against wrongful claims Additional payout up to ₹2 Crore in case of death due to accident^^

  • Paying off a loan

    Large sum assured to cover your loan amount Full claim payout on diagnosis of 34 critical illnesses (optional)^ which can be used to pay your EMIs


Experience the new and improved ICICI Prudential Life Insurance Mobile App

Our state-of-the-art mobile app will help you manage your insurance policies with ease. Get the app to pay premium, download statements, file claims, buy new policies, switch funds and much more.

Life Insurance

A life insurance plan is a contract between an insurance policyholder and an insurance company, where the insurer promises to pay a sum of money in exchange for a premium after a set period or upon the death of an insured person. Life insurance offers you and your family financial protection. Some policies also offer optional add-ons, such as critical illness benefit, accidental death benefit, and more. The importance of life insurance cannot be ignored in ensuring the financial safety of your loved ones.

Life insurance protects your family members’ financial interests in your absence. It gives you peace of mind and confidence and helps you save taxes. There are several benefits of life insurance. Let us take a look at some of them:
  • Financial security: Life insurance products can provide you and your loved ones with financial security. You can financially secure your family by choosing a substantial life cover so that they can maintain their standard of living in your absence
  • Wealth creation: These plans help you create wealth over time and build savings. Life insurance plans can be used to save for your future needs. They offer options to cover different types of risks and goals
  • Disciplined investment: With regular premium payments, life insurance plans inculcate financial discipline. They offer unique investment opportunities for every risk type with a wide range of products, such as unit linked investment plans, guaranteed savings plans, endowment plans, and more
  • Retirement planning: Life insurance products like annuity plans, savings plans, endowment plans, and other help you build a retirement pool. These plans offer guaranteed income on maturity and help you secure your retirement with adequate savings
  • Tax savings: Life insurance plans offer many tax` benefits to facilitate better savings. The premiums paid are tax` deductible under Section 80C and 80D of the Income Tax Act, 1961. The maturity benefits also enjoy a tax-free` status under Section 10(10D) in most cases
Types of life insurance in India:
  • Term life insurance plan: Term insurance plans offer your nominee a fixed sum assured amount in exchange of regular premiums, in case of an unfortunate incident during the policy term
  • Unit linked insurance plan (ULIP): A unit-linked insurance plan offers investment and insurance under the same policy. A part of your premium gets invested in equity/ debt/ balanced funds as per your choice and the other part is used to secure your loved ones with a sum assured
  • Endowment plan: An endowment plan allows you to build risk-free savings and protect the financial interests of your family in your absence
  • Annuity plan: An annuity plan is a type of retirement plan that offers you a regular payment in return for a lump sum investment. In simple words, you pay the life insurance company a premium in lump sum and your money is returned to you as regular income either immediately or after a certain period of time. The life insurance company invests your money and pays back the returns generated from it to you as payouts
Life insurance can be a must-have financial tool for the following people:
  • Newly married couples: Life insurance can offer newly married couples peace of mind and financial security. It can help your spouse live their life comfortably and meet all financial liabilities
  • Parents with young children: Parents with young children can purchase life insurance to ensure that their children have a financial cushion to fall back on if they are not around to take care of them. Insurance plans can also help parents save for their kids’ future needs
  • People nearing retirement with fewer savings: Life insurance plans allow you to save and invest your money. You can opt for low-risk options and secure your retirement and old age
  • Business owners: Life insurance benefits can help your family carry on your business in your absence. The pay-outs can also help them pay off creditors or clear your debts
You can also buy life insurance policies online. You can compare different life insurance products, their premiums, sum assured amounts, features, and more on the internet. You can also compare the claim settlement ratio of several insurance companies and pick a suitable life insurance policy. Life insurance can be useful for several reasons like:
  • It protects your loved ones and allows them to lead a dignified and comfortable life in your absence
  • It lets you create an additional source of income to meet your goals
  • It helps you cover medical costs with add-on coverage
  • It offers you peace of mind
  • It helps you save for your old age
  • It ensures a regular stream of income even after retirement
  • It helps you provide for your child’s education and future needs
The simplest way to calculate the minimum sum assured amount for a life insurance plan is to multiply your current annual income by 10$ if you’re under 55 years of age. For example, if your current annual salary is ₹ 10 lakh, you should buy a life insurance cover that is worth at least ₹ 1 crore. Another way to calculate life insurance is by analysing your current and future expenses.
Here are some of the most important factors that you must consider before choosing a sum assured amount for life insurance:
  • Debt: Financial liabilities like loans can become a burden on your family in your absence. Take cognizance of your debt and pick a life insurance amount that can be used to repay it
  • Dependents: Consider the expenses of dependent family members like minor children and ageing parents. Different circumstances may necessitate different coverage needs. So, pick an appropriate amount of life insurance as per their lifestyle and requirements
  • Financial goals: Financial goals like retirement planning, children's higher education, marriage, medical expenses, and others must also be considered while selecting the sum assured for life
  • Age: Different stages of life present different financial needs. Hence, keep the age of your dependents in mind while calculating your life insurance coverage
The premium amount for your life insurance plan can depend on a number of factors. Some of these have been mentioned below:
  • Age: Age is one of the chief factors that impact the life insurance premium. As you age, the possibility of the insurer paying the claim also increases. This is why the premium rises with age
  • Gender: Women tend to live longer than men $$ . Hence, they pay the premium for a longer period. This results in a comparatively lower life insurance premium
  • Present health and medical history: You have to undergo a medical test before purchasing a life insurance policy so that the insurer can assess your health status. Having a history of medical issues can increase the premium for life insurance. Family health history and hereditary diseases can also impact the life insurance premium
  • Lifestyle: Poor lifestyle choices like smoking and drinking can increase the risk of certain ailments. This impacts the premium amount for a life insurance plan
You can file a life insurance claim in the following steps:
  • You can file a claim online, at a physical branch central office, or on our central ClaimCare helpline through SMS or e-mail
  • You can visit the Claims section of the ICICI Prudential website to submit an online claim
  • You can call us at our 24x7 ClaimCare helpline number at 1860 266 7766
  • You can e-mail us at claimsupport@iciciprulife.com

Please submit the following information along with the claim:
  • Claimant statement form
  • Death certificate in case of death claims
  • Medical papers, diagnosis reports, and other necessary documents
  • Your identity proof, address proof, and a cancelled cheque or copy of your bank passbook
The team will assess your claim and get back to you if they need any more information.
Customer Testimonials & Reviews
  • Amit Sharma
    Easy process. With the help of your executive, it becomes more trustable.

  • Suman Roychoudhury
    Term insurance policy issuance is usually time taking with lots of documents and medicals. Thanks to ICICI Prudential Life Insurance team for proving this is a myth if you are purchasing term insurance online. Even during pandemic, the policy issuance was lightning fast!!

  • Yogesh Jain
    My personal experience was very superb, everything was very smooth and effortless. Happy to be a part of ICICI Prudential Life Insurance.

  • Bhavya Taneja
    Fast activation of policy, E-policy document, Timely reminders. Terms and coverage

  • Karan Gupta
    Thanks to ICICI Prudential Life Insurance for solving my queries about term plan. I bought a term plan online for the very first time to secure my family. I had so many queries related to the policy and the customer service associate helped me clear all the doubts.

  • Nakul Bhangadia
    Hassle free and dependable. If the first few steps of taking insurance are smooth, it gives confidence that the insurance is in safe hands.

Read all



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Explore our interactive tools & premium calculators to plan for your financial goals.

ICICI Pru iProtect Smart:

**Our Life insurance policies COVID-19 claims, subject to applicable terms and conditions of policy contract and extant regulatory framework.

^Critical Illness Benefit is optional and available under Life and Health and All in One options. This benefit is payable, on first occurrence of any of the 34 illnesses covered. The CI Benefit, is accelerated and not an additional benefit which means the policy will continue with the Death Benefit reduced by the extent of the CI Benefit paid. The future premiums payable under the policy will reduce proportionately. If CI Benefit paid is equal to the Death Benefit, the policy will terminate on payment of the CI Benefit. To know more in detail about CI Benefit, terms & conditions governing it, kindly refer to sales brochure. Critical Illness benefit is available till age of 75.

## The premium of ₹441 p.m. has been approximately calculated for a 18 year old healthy male life with a monthly mode of payment and premiums paid regularly for the policy term of 18 years with income payout option with Life Cover of ₹1 crore. Goods and Services tax and/or applicable cesses (if any) as per applicable rates will be charged extra

^^Available only under Life Plus and All in One option. Maximum amount that can be availed is `2 Crore and will be paid as a lump sum.

++ A lump sum is paid out on diagnosis of any of the listed conditions. This payout is based on the level of the condition. In any case, the total payout in the policy cannot exceed 100% of the Sum Assured of the cover selected. Please refer to the sales brochure to know about the payouts at different level of condition

`Tax benefits under the policy are subject to conditions under Section 80C, 10(10D), 115BAC and other provisions of the Income Tax Act, 1961. Goods and Services Tax and cesses, if any will be charged extra as per applicable rates. Tax laws are subject to amendments from time to time. Please consult your tax advisor for details, before acting on above.

*`Benefits from 2nd year onwards is available under the Early Income plan option.

~Subject to realization of payment and documents. Policy can be purchased in 3 steps: 1. Generating premium quote 2. Filling basic details and answering health related questions 3. Premium payment

~*Additional Maturity Benefit is offered for online sales: For Lump Sum Plan option, 2.5% of Sum Assured on Maturity is applicable for Limited pay. In case of Single Pay in Lump Sum Plan option, 1% of Sum Assured on Maturity is applicable. For Income Plan option, 2.5% of Guaranteed Income is applicable. For Early Income Plan option, 3.5% of Guaranteed Income is applicable. For Single Pay Income Plan option, 1% of Guaranteed Early Income is applicable

+ The Policyholder can have funds in only one of the Portfolio Strategies.

# Excluding taxes and Top-up Premium Allocation Charges.

UIN details: ICICI Pru iProtect Smart - 105N151V06. ICICI Pru Signature - 105L177V03. ICICI Pru Guaranteed Pension Plan - 105N181V02. ICICI Pru Guaranteed Income For Tomorrow - 105N182V02.

1The company will allocate extra units to your ULIP policy provided all due premiums have been paid. To know more in detail, kindly refer to sales brochure of the respective products.

2The premium for a 22 year old healthy male for a life cover of ₹ 1 crore for the ICICI Pru iProtect Smart – Life Option under the regular income payout option for a policy term of 19 years is ₹ 5,824 p.a (inclusive of all taxes)

3Refer the product brochures for the definitions, exclusions and other terms and conditions applicable for Permanent Disability due to accident and Terminal Illness.

424*7 buying assistance available through our digital assistant Ligo.

5Day 1 is counted from the day of receiving the last document. One day claim settlement applicable only if all due premiums in the policy have been paid and the policy has been active for a continuous period 3 years, total claim amount should not exceed 1.5 crore and claim does not require any investigation. Mandatory documents need to be submitted at Branch Office before 3pm on a working day- Original policy certificate, copy of death certificate by local authority, Nominee’s current address proof, photo identity proof, Cancelled cheque. Copy of bank passbook, Copy of medico legal cause of death, Medical records (Admission notes, Discharge / Death summary, Test reports, etc.). For accidental death – Copy of FIR, Panchanama, Inquest report, Driving license. Interest will be paid for every day of delay beyond one working day. Interest shall be at the bank rate that is prevalent at the beginning of the financial year in which death claim has been received. In case of breach in regulatory turnaround time, interest will be paid as per IRDAI regulations.

65% discount on premium is applicable only for Regular and Limited pay policies. In case of Single Pay, discount applicable is 2% of Single Premium.

7Only doctor’s certificate confirming diagnosis needs to be submitted. The benefit is payable only on the fulfillment of the definition of the diagnosed critical illness.

8 As per currently applicable tax laws, tax benefit of ₹ 54,600 ( ₹ 46,800 u/s 80C and ₹ 7,800 u/s 80D) is calculated at highest tax slab rate of 31.2% (including Cess excluding surcharge) on life insurance premium u/s 80C of ₹ 1,50,000 and health premium u/s 80D of ₹ 25,000. Tax benefits under the policy are subject to conditions under Section 80C, 80D, 80CCC, 10(10A), (10D) and other provisions of the Income Tax Act, 1961. Goods and Services Tax and Cesses, if any, will be charged extra as per prevailing rates. Tax laws are subject to amendments made thereto from time to time. Please consult your tax advisor for details, before acting on above.

~#Your annuity is informed to you when you buy the plan and is guaranteed and unchanged for life.

9This option is available only with Joint Life. Joint life can be either the spouse, children, parents or siblings.

//Tax benefits under the policy are subject to conditions under Section 80C, 80CCC, 115BAC and other provisions of the Income Tax Act,1961. Good and Service tax and Cesses, if any will be charged extra as per prevailing rates. Tax laws are subject to amendments made thereto from time to time. Please consult your tax advisor for details, before acting on above.

" Guaranteed Additions (GAs) rate will be 9% for policy term of 10 years and 10% for policy term of 15 years. GAs will be added to the policy at the end of every policy year if all due premiums have been paid. Each GA will be calculated as GA rate multiplied by the total premiums paid till date (excluding extra mortality premiums, Goods & Services Tax and Cess (if any)).

`*Wealth Boosters equal to 3.25% of the average of the Fund Values including Top-up Fund Value, if any, on the last business day of the last eight policy quarters will be allocated as extra units to your policy at the end of every 5th policy year starting from the end of 10th policy year till the end of your policy term.

^*Systematic Withdrawal Plan is allowed only after the first five policy years.

- Guaranteed Maturity Benefit (GMB): Your GMB will be set at policy inception and will depend on policy term, premium, premium payment term, age and gender.

~~ Guaranteed benefits in the form of lump sum will be payable under Lump Sum Plan option. Guaranteed benefits in the form of regular income will be payable under Income Plan option and Early Income Plan option.

`` Tax benefits of ₹ 54,600(₹ 46,800 u/s 80C & ₹ 7,800 u/s 80D) is calculated at highest tax slab rate of 31.20%(including cess excluding surcharge) on life insurance premium u/s 80C of ₹ 1,50,000 and health premium u/s 80D of ₹ 25,000. Tax benefits under the policy are subject to conditions under Section 80C, 80D,10(10D), 115BAC and other provisions of the Income Tax Act,1961. Good and Service tax and Cesses, if any will be charged extra as per prevailing rates. Tax laws are subject to amendments made thereto from time to time. Please consult your tax advisor for details, before acting on above.

$ How much life insurance do you really need? - https://economictimes.indiatimes.com/wealth/insure/how-much-life-insurance-do-you-really-need/articleshow/22065416.cms?from=mdr

$$ Why men often die earlier than women - https://www.health.harvard.edu/blog/why-men-often-die-earlier-than-women-201602199137

*Claim statistics are for FY 2019-20 and is computed basis individual claims settled over total individual claims for the financial year. For details, refer to Public Disclosures in our Website. W/II/3484/2018-19. 

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