Protect yourself and your family from life's uncertainties, with our all-round protection plans
Smart Exitō Option
ICICI Pru iProtect Smart
- Life cover1a to secure your loved ones
- 34 critical illness rider##
- Accidental Death benefit rider9
- COVID-19 life claims covered8
- Tax benefits up to ₹ 54,600^
- Option to early exit the policy and receive total premium paidō
Pay₹ 460 p.m.!
Get₹ 1 crore Life Cover
Get Life Cover1 + Return of premiums3
ICICI Pru iProtect Return of Premium
- Get 105% Returns on premiums3 paid on survival/maturity
- Flexibility to enhance your cover as per your life stage2
- Choose to get additional protection with our 64 Critical Illness benefit4(optional)
- Higher payout in case of death due to accident5
Pay₹ 2,630 p.m.6
Get1 crore life cover + 12.68 lakh Premiums back3
ICICI Pru Heart/Cancer Protect
- Payout on diagnosis7
- Waiver of future premiums 10
- Fixed premium for the entire policy term
- Tax benefits#
Pay₹ 61 p.m.#a
Get₹ 10 lakh Cancer cover
ICICI Pru iProtect Smart
1aLife Cover is the benefit payable on death of the life assured during the policy term.
##Accelerated Critical Illness Benefit (ACI Benefit) is optional and available under Life & Health and All in One options. This benefit is payable, on first occurrence of any of the 34 illnesses covered. Medical documents confirming diagnosis of critical illness needs to be submitted. The benefit is payable only on the fulfillment of the definition of the diagnosed critical illness.
8Our Life insurance policies cover COVID-19 claims under life insurance claims, subject to applicable terms and conditions of policy contract and extant regulatory framework. COVID-19 is not included in Critical Illness benefit covered under IProtect Smart.
9Accidental Death benefit (ADB) is up to ₹2 crores (Subjected to underwriting guidelines). ADB is available in Life Plus and All in One options. In case of death due to an accident Accidental Death Benefit will be paid out in addition to Death Benefit. Accidental Death Benefit will be equal to the policy term or (80-Age at entry), whichever is lower.
^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 as per old tax regime)on life insurance premium u/s 80C of ₹1,50,000 and health premium u/s 80D of ₹25,000. Tax benefits 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.
!The premium of ₹ 460 p.m. has been approximately calculated for a 18-year-old healthy male life with monthly mode of payment and premiums paid regularly for the policy term of 31 years with income payout option (income for 20 years) with Life Cover of ₹1 crore. Goods and Services tax and/or applicable cesses (if any) as per applicable rates will be charged extra
&&ICICI Pru iProtect Smart offers four variants namely ‘Life’, ‘Life plus’, ‘Life and health’ and ‘All in One’ with difference benefits. “All in One” is one of the four variants offered under iProtect Smart having all benefits offered under other ICICI Pru iProtect Smart variants namely Life, Life plus and Life & health. The customer can choose any one variant from the four available variants. Please refer to the product brochure for more details.
ō The policyholder will have an option to cancel the Policy and receive Smart Exit Benefit, equal to Total Premiums Paid under the Policy. The following conditions are applicable for availing Smart Exit benefit
- This option can be exercised in any policy year greater than 25 but not during the last 5 policy years, provided the age of the life assured is 60 years or more at the time of exercise
- The Policy is in-force with all due premiums paid at the time of exercising this option
- No claim for any of the underlying benefits has been registered and is under evaluation/ or accepted/ or paid/ being paid on the Policy
Where, Total Premiums Paid means the total of all premiums received, excluding any extra premium, any rider premium and taxes. In case the benefit term for additional benefit(s), for which additional premium has been paid, has expired at the time of exercise of Smart Exit Benefit, then Total Premiums Paid shall exclude the premium paid towards such additional benefit(s). Please refer to sales brochure for more details
ICICI Pru iProtect Smart UIN: . COMP/DOC/Jun/2023/96/3246
ICICI Pru iProtect Return of Premium
1Life cover is the death benefit payable on death of the Life Assured during the policy term.
For ‘Return of Premium’ plan option, Death Benefit will be the highest of a) Sum Assured on Death b) Basic Sum Assured to be paid on death c) (Applicable only for limited pay and regular pay) 105% of the Total Premiums Paid till the date of death. Where Sum Assured on Death is 7 X Annualised Premium for regular pay and limited pay and 1.25 X Single Premium for single pay; For ‘Income Benefit’ plan option, Death Benefit will be the highest of a) Sum Assured on Death b) 105% of the Total premiums Paid till the date of death c) Basic Sum Assured to be paid on death, less total Survival Benefit paid till date of death. Where, Sum Assured on Death is 10 X Annualised Premium.
For ‘Return of Premium with Life-stage cover’ & ‘Early Return of Premium with Life-stage cover’ plan options, Death Benefit will be the highest of a) Sum Assured on Death b) 105% of the Total premiums paid till the date of death c) Absolute amount assured to be paid on death Where Sum Assured on Death is 7 X Annualised Premium.
3Return of Premium: 'Return of Premium' is available under three of the plan options namely- “Return of Premium"; “Return of Premium with Life-stage cover" and “Early return of Premium with Life-stage cover" and refers to 105% of total of all premiums received, excluding premiums for optional benefits i.e. Accidental Death Benefit, Critical Illness Benefit, any extra premium, any rider premium and taxes, if any. The fourth plan option "Income Benefit" provides regular monthly income from the policy anniversary after the Life Assured attains age 60 as a survival benefit till the end of the policy term.
2Life-stage cover: In case of Life-stage cover, Absolute amount assured to be paid on death will be based on age of the Life Assured as provided below.
- In the first policy year, Absolute amount assured to be paid on death will be the same as Basic Sum Assured as chosen by You at inception.
- From the second policy year till the policy anniversary after the Life Assured attains age 55, 5% of Basic Sum Assured gets added on every policy anniversary to the Basic Sum Assured. This amount cumulatively shall be the Absolute amount assured to be paid on death. The Absolute amount assured to be paid on death remains constant till the next policy anniversary. In case the Absolute amount assured to be paid on death becomes twice the Basic Sum Assured during this period of increment, it stays constant at that level, till the policy anniversary after the Life Assured attains age of 56 years.
- On the policy anniversary after the Life Assured attains 56 years of age, the Absolute amount assured to be paid on death shall revert back to Basic SA. This will continue till the policy anniversary after the Life Assured attains 60 years of age.
- On the policy anniversary after the Life Assured attains 60 years of age, the absolute amount assured to be paid on death shall be 50% of Basic Sum Assured and continues at the same level till end of the policy term.
4Critical Illness Benefit: Critical Illness Benefit is up to Rs.1 Crore (Subjected to underwriting guidelines).CI Benefit is an additional optional benefit chosen at inception and is available with ‘Life and health’ and ‘All in One’ benefit options. The CI Sum Assured is paid as a lump sum upon the Life Assured being diagnosed on first occurrence of any of the covered 60 major Critical Illnesses within CI Benefit term. 25% of the CI Sum Assured or ₹500,000.00 whichever is lower is paid as a lump sum upon the Life Assured being diagnosed on occurrence of any of the covered 4 minor Critical Illnesses within CI Benefit term. CI Benefit is available for Single Pay and Limited Pay and is lower of (15 years, policy term). For regular pay, the CI benefit term will be lower of (policy term, 40 years) subject to maximum cover ceasing age of 85 years. CI Benefit can be less than or equal to the Basic Sum Assured chosen by You at inception for Return of Premium Plan and Income Benefit Plan. CI Benefit can be less than or equal to the 50% of the Basic Sum Assured chosen at inception for Return of Premium with Life-stage Cover Plan and Early Return of Premium with Life-stage Cover Plan. CI Benefit is a pure risk benefit and does not have Survival or Maturity Benefit. Premiums paid corresponding to CI Benefit shall be excluded from Survival or Maturity Benefit
5 Accidental Death Benefit: Accidental Death Benefit is up to Rs.2 Crore (Subjected to underwriting guidelines).ADB Benefit is an additional optional benefit and is available with ‘Life Plus’ and ‘All in One’ benefit options. In the event of the Life Assured’s death due to an Accident, ADB will be payable as a lump sum. ADB is available for the policy term or till the age of 80 years, whichever is lower. For Return of Premium Plan and Income Benefit Plan, ADB can be less than or equal to the Basic Sum Assured as per plan option. For Return of Premium with Life-stage Cover Plan and Early Return of Premium with Life-stage Cover Plan, ADB can be less than or equal to the 50% of the Basic Sum Assured chosen at inception. ADB is a pure risk benefit and does not have Survival or Maturity Benefit. Premiums paid corresponding to ADB shall be excluded from Survival or Maturity Benefit.
6The premium of ₹2630 p.m. has been approximately calculated for a 30 year old healthy male life with monthly mode of payment and premiums paid regularly for the policy term of 40 years with 'Return of Premium' plan option and Life Cover of ₹1 crore. The above mentioned premium is online premium and is inclusive of taxes.
ICICI Pru Heart/Cancer Protect
7A 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.
10The Company shall waive all future premiums on a claim of Minor condition under the chosen cover; or on the diagnosis of Permanent Disability (PD)of the Life Assured due to an Accident. If both Cancer cover and Heart cover are chosen such waiver is allowed on a minor/major condition claim under either Cancer cover or Heart cover; or on the diagnosis of PD. This benefit is available only if the Policy is in force as on the date of diagnosis of the condition/at the time of accident.
#Tax benefits will apply to the premiums paid and benefits received as per the prevailing tax laws. Tax benefits under the policy are subject to conditions u/s 80D of the Income Tax Act, 1961. Indirect taxes and applicable cesses will be charged extra over the premium amount as per the applicable rates. Tax laws are subject to amendments from time to time.
#a The above mentioned premium rate is for Rs. 10 lakh Cancer Cover for a 26 year old healthy male for a policy term of 18 years. The monthly mode premium amount works out to Rs. 61 inclusive of tax.
ARR : Assumed Rate of Return. For the purpose of illustration, the Company has assumed 8% and 4% as rates of investment returns. The returns shown in the illustration are not guaranteed and they are not the upper or lower limits that you may get. As the value of the policy depends on a number of factors including future investment performance.
© 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.
BEWARE OF SUSPICIOUS PHONE CALLS AND FICTITIOUS/FRAUDULENT OFFERS
IRDAI is not involved in activities like selling insurance policies, announcing bonus or investment of premiums. Public receiving such phone calls are requested to lodge a police complaint.
IRDAI CAUTIONS PUBLIC AGAINST SPURIOUS CALLS AND FICTITIOUS OFFERS
ICICI Pru iProtect Return of Premium UIN: 105N186V01.
ICICI Pru Heart/Cancer Protect UIN: 105N154V03.