ICICI PRU TERM INSURANCE
Ensure your loved ones are
HUMAN LIFE VALUE CALCULATOR
Ideal Life Cover Calculator
FAQs about Human Life Value
a) ICICI Pru iProtect Smart: The plan offers the following features:
- Affordable premium 2}
- High sum assured
- Life stage protection 12
- Whole life cover till the age of 99
- Four payout options at the time of claim
- Accelerated critical illness benefit ## and Accidental death benefit 9, optional add-on benefits.
b) ICICI Pru iProtect
Smart Return of Premium: You
have the option to receive 105% of your
premium payments back at the time of
maturity as survival benefits on surviving
the policy term. This helps you build
savings for the future.
The Plan offers the following
- 64 Critical illnesses 4 cover (Optional)
- Paid up benefit
- Flexible life cover which adjusts as per your life stage
- Steady monthly income from the age of 60
- 105% Return of Premium 3
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2} Affordable Premium Term insurance is the simplest form of life insurance. It is affordable and can be bought without any assistance. You can save on premium by choosing from limited pay options, where you pay for a limited time period and get cover for the complete policy term.
12 Additional premium will be calculated based on the increased Sum Assured and outstanding policy term as per your age at the time of each such increase.
## Accelerated Critical Illness Benefit (ACI benefit) is up to ₹ 1 crore (Subject to underwriting guidelines). Accelerated Critical Illness Benefit (ACI Benefit) is optional and available under Life & Health and All in One options. This benefit is payable on the first occurrence of any of the 34 illnesses covered. Medical documents confirming the diagnosis of critical illness need to be submitted. The benefit is payable only on the fulfilment of the definition of the diagnosed critical illness. The ACI Benefit is accelerated and not an additional benefit, which means the policy will continue with the Death Benefit reduced by the extent of the ACI Benefit paid. The future premiums payable under the policy will reduce proportionately. If ACI Benefit paid is equal to the Death Benefit, the policy will terminate on payment of the ACI Benefit. To know more in detail about the ACI Benefit and terms & conditions governing it, kindly refer to the sales brochure. ACI Benefit term would be equal to the policy term or 30 years or (75-Age at entry), whichever
9 Accidental Death Benefit (ADB) is up to ₹ 2 crore (Subject 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.
4 Critical Illness Benefit: Critical Illness Benefit is up to ₹ 1 Crore (Subject to underwriting guidelines). CI Benefit is an additional optional benefit chosen at the 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 the first occurrence of any of the covered 60 major Critical Illnesses within the 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 the occurrence of any of the covered 4 minor Critical Illnesses within the 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 the 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 the 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.
2 Life-stage cover: In the case of Life-stage cover, Absolute amount assured to be paid on death will be based on the age of the Life Assured as provided below. 1. 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. 2. From the second policy year till the policy anniversary after the Life Assured attains the age of 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 the age of 56 years. 3. 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. 4. 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 the end of the policy term.
3 Return of Premium: Return of premiums is available on survival under three of the Plan Options: ‘Return of Premium’, ‘Return of Premium with Life-stage cover’ and ‘Early Return of Premium with Life-stage cover’ and refers to the 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 plan options ‘Return of Premium’ and ‘Return of Premium with Life-stage cover’ provide maturity benefit on survival of the Life Assured till the end of the policy term. The plan option ‘Early Return of Premium with Life-stage cover’ provides survival benefit on survival of the Life Assured till the policy anniversary immediately after the Life Assured turns age 60 or 70, depending on the return of premium age chosen by the customer at inception. 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. Please note that the sum of monthly incomes paid under this plan option can be higher or lower than the total premiums paid by the customer, and may not be the return of premium.
ICICI Pru iProtect Smart UIN: 105N151V07.
ICICI Pru iProtect Return of Premium UIN: 105N186V01.