ICICI Pru iProtect Smart Life Continuity Option
Premium amount mentioned is exclusive of taxes
2 Life cover is the benefit payable on death of the life assured during the policy term
1 Life continuity option : ICICI Pru iProtect Smart works as a “Life Continuity option” by providing the flexibility to choose from the four available death benefit payout options which are lump sum, income, lump sum and income and increasing income. The customer can choose any one of the available death benefit payout options. The Death Benefit payout option has to be selected by you at Policy inception and it cannot be changed during the Policy Term. The premiums vary as per the chosen death benefit payout options
3 Monthly income/lump sum and income: These are two of the four available death benefit payout options and customer can choose any one of the death benefit payout options. Under ‘Income’ option, a percentage of the benefit amount is payable every year throughout the Income term of 10, 20 or 30 years, as chosen at policy inception. This will be paid in equal monthly instalments in advance at a defined rate of death benefit amount given in the table below. Under ‘Lump sum and income’, the Death Benefit will be paid as a combination of income and lump sum payout options. The percentage of the Death Benefit to be paid out as lump sum is chosen at inception. The balance Death Benefit will be paid out in equal monthly instalments in advance, for the chosen Income Term at a defined rate of death benefit. For income term of 10 years, 10% of the death benefit will be payable every year i.e. 0.83333% of death benefit will be payable as monthly in advance.For income term of 20 years, 5% of the death benefit will be payable every year i.e. 0.41667% of death benefit will be payable as monthly in advance.For income term of 30 years, 3.33% of the death benefit will be payable every year i.e. 0.27778% of death benefit will be payable as monthly in advance
© ICICI Prudential Life Insurance Co. Ltd. All rights reserved. Registered with Insurance Regulatory & Development Authority of India (IRDAI) as Life Insurance Company. Regn. No. 105. CIN: L66010MH2000PLC127837. Reg. Off.: ICICI PruLife Towers, 1089 Appasaheb Marathe Marg, Prabhadevi, Mumbai 400025. Tel.: 40391600. Customer helpline number - 1860 266 7766. Timings – 10:00 A.M. to 7:00 P.M., Monday to Saturday (except national holidays). Member of the Life Insurance Council. For more details on the risk factors, term and conditions please read the product brochure carefully before concluding the sale. Trade Logo displayed above belongs to ICICI Bank Ltd & Prudential IP services Ltd and used by ICICI Prudential Life Insurance Company Ltd under license. ICICI Pru iProtect Smart. UIN: 105N151V09
