Since its launch ICICI Pru iProtect Smart has become our top selling plan online (Source: Company BuyOnline data - Dec 2015 till date). It is one of the first term plans in the industry that offers claim payment on diagnosis of 34 Critical Illnesses. This benefit became popular among consumers with 1 out of 3 people opting for this benefit (Source: Company BuyOnline data - Dec 2015 till date).
|Premium starts from||₹ 2,400 (Under Life Option)|
|Critical Illness Benefit (optional)||34 critical illnesses covered (Life+ Health & All In One)|
|Get life cover upto||75 years|
|Claims Settlement Ratio||96.68% in FY2016-17^|
In case of permanent disability due to an accident, the company waives all future premiums and your policy continues uninterrupted.
Yes, it gives three types of tax benefits.
Tax benefits under the policy are subject to conditions under Sec. 80C, 80D and Sec 10(10D) of the Income Tax Act, 1961. Applicable taxes will be charged extra as per prevailing rates. Tax laws are subject to amendments from time to time.
Yes, you can buy this plan online on your desktop or on your mobile phone. Buying online gives additional discount and takes just 10 minutes to complete the purchase (subject to realisation of payment and documents).
Yes, you can buy this plan under MWP act. In fact, you can attach MWP act even when you are buying online. All you have to do is tick "yes" in the MWP act question which appears in the application form.
Yes, death due to suicide is covered in this plan. If death of the policy holder happens due to suicide within a year, the nominee or beneficiary of the policyholder shall be entitled to 80% of the premiums paid till the death, provided the policy is in force.
You can start this plan from the age of 18. But, the maximum age should not exceed 65 years.
The premium will depend on the Life Cover amount and other Benefit Options you choose. It starts from ₹ 2,400 per annum excluding taxes as applicable for Life Option.
Your family will receive the combined lump sum amount of Life Cover + Accident Cover if chosen by you.
The minimum Critical Illness Benefit you can choose is ₹ 1 lakh. The maximum benefit will be up to the basic Life Cover subject to maximum of ₹ 1 crore, as per the company policy.
This benefit is payable when you are diagnosed for the first time with any of the 34 critical illnesses covered by ICICI Pru iProtect Smart. A copy of the diagnosis report is enough to initiate the critical illness claim.
Yes, the Life Cover will reduce by the value of the Critical Illness Benefit paid to you. As a result, the future premiums you have to pay will reduce as well.
You can choose your level of protection by selecting one of the four benefit options to suit your need. The plan options are Life, Life Plus, Life & Health and All-in-one.
Death, Terminal Illness and Permanent Disability are covered irrespective of the plan option chosen as shown below:
|Coverage in case of an unfortunate event||Regular Pay|
|Life||Life Plus||Life & Health||All-in-one|
|Terminal Illness (including AIDS)||Yes||Yes||Yes||Yes|
|Waiver of all future premiums on permanent disability due to accident||Yes||Yes||Yes||Yes|
|34 Critical Illness||No||No||Yes||Yes|
Yes, this plan has single premium option. Here are the details:
|Benefit Options||Premium payment||Minimum policy term||Maximum policy term|
|Life||Once||5 years||20 years|
|Life Plus||Once||5 years||20 years|
|Life & Health||NA||NA||NA|
Yes, ICICI Pru iProtect Smart gives you this facility, with life stage protection, under all its plans without any medicals.
|Event||Additional Life Cover (calculated as a percentage of the original Life Cover)||Maximum Additional Life Cover allowed (₹)|
|Birth/Legal Adoption of 1st Child||25%||25,00,000|
|Birth/Legal Adoption of 2nd Child||25%||25,00,000|
Subject to a maximum limit as per company policy.
Additional premium will be calculated according to the increased Life Cover and the remaining policy period.
Priya is a 32 year old, healthy female who works as a marketing consultant. She has taken a home loan. Realizing the need for protection in her fast-paced life, Priya wants to be well prepared for unforseen circumstances in life.ICICI Pru iProtect Smart - Life and Health option is the perfect solution for her needs.
Life cover of ₹ 50 lakh with policy term 30 years and regular premium payment
Critical Illness Benefit of ₹ 20 lakh
₹ 20 lakh is paid to her as a lump sum and the policy continues with the Sum Assured reduced to ₹30 lakh
Nominee gets lump sum death benefit of ₹ 30 lakh and the policy terminates.
Anil is a 35 year old healthy male who works as a project manager in an IT company. Anil wants to ensure that his wife, three year old son and retired father live a comfortable life in case of his untimely death. He chooses ICICI iProtect Smart - Life option with Death Benefit of ₹ 1 crore with Income Payout option which will ensure an adequate monthly income for his family.
Life Cover ₹ 1 Crore with policy term 30 yrs and regular premium payment
His family received a monthly income of ₹ 83,333 for 10 years
The premium mentioned above are exclusive of applicable taxes.
Step 1 – Claim Reporting
Step 2 – Claim Processing
Step 3 – Claim Settlement
*Please note that your claim will be formally registered only after you provide us a written request of your claim at our branch or Claims Cell office.
**Provided no investigation is required.
*The above mentioned premium rate is for ICICI Pru iProtect Smart for ₹ 1 Crore of life cover for a 25 year old healthy male for a policy term of 21 years with regular income payout option. The annual premium will be ₹ 5725 & the monthly premium will be ₹ 490. The premium amounts are inclusive of taxes.
‘The above mentioned premium rate is for iProtect Smart for ₹ 50 Lakh of life cover for a 25 year old healthy male for a policy term of 15 years with regular income payout option. The annual premium will be ₹ 3,297 & the monthly premium will be ₹ 282. The premium amounts are inclusive of taxes.
‘‘The above mentioned premium rate is for ₹ 50 Lakhs of life cover and ₹ 10 lakhs of accelerated critical illness cover for a 25 year old healthy male for a policy term of 18 years with regular income payout option. The annual premium amount for this assumption will be ₹ 4,909 and monthly premium will be ₹ 420.
#The above mentioned premium rate is for ₹ 1 crore of life cover and ₹ 10 lakhs of accelerated critical illness cover for a 25 year old healthy male for a policy term of 14 years with regular income payout option. The annual premium amount for this assumption will be ₹ 6,907 and monthly premium will be ₹ 590. Premium amount will differ according to the benefit option chosen.
+Accidental Death benefit is up to ₹ 2 Crores. Accidental Death Benefit is available in Life Plus and All in One options.
^The critical illness benefit is an accelerated benefit and the death benefit will be reduced by the critical illness cover paid to the policyholder. The future premiums payable for the residual CI Benefit will reduce proportionately. In case the CI Benefit equal to the Death Benefit, the policy will terminate on payment of the CI Benefit. Only doctor’s certificate confirming diagnosis needs to be submitted. On payment of Angioplasty, if the CI Benefit is more than ₹ 5,00,000 the policy will continue for other CIs with CI Benefit reduced by Angioplasty payout. To know more about the illnesses covered, please refer to the Sales brochure. Available under Life and Health and All in One options.
~Based on number of policies sold online between January 2016 – June 2016.
1 For Terminal illness, policy will terminate on payment of this benefit.
2 Top Selling saving plan refers to ICICI Prudential Life Insurance plans which are bought by customers through the website with our Zero-Paper-Process.
3 ICICI Pru iProtect Smart was voted product of the year 2016 in the consumer survey of product innovation in Life Insurance category in a survey of over 7,000 people by Nielsen.
4 Nothing herein contained shall operate to destroy or impede the right of any creditor to be paid out of the proceeds of any policy of assurance, which may have been effected with intent to defraud creditors. In case of any third party claim in the Courts of India with regards to the insurance proceeds, the amount shall be subject to the judiciary directions. Please seek professional legal advice for the applicability of this provision.
*For further details, please refer to the information provided in the product brochure. ICICI Pru iProtect Smart UIN 105N151V03. W/II/1607/2017-18.