Secure Your Home Loan
With Our Term Insurance Plan!
Secure Your Home Loan With Our Term Insurance Plan!
  • Pay for 10 years and get cover till age 99 years
  • Options to add accidental death cover# and critical illness cover##
  • Tax benefits~ under Sec 80C and 80D of Income Tax Act, 1961
Term Insurance Premium Calculator
Attention: Available only for premium more than `3600. Please increase life cover!
Attention: Maximum life cover we can offer you is `50 Lakhs
Male Female
18 years
No Yes
Total Premium
` 20,79,725 annually
online discount applied'
Add Benefits
@ just ` 165
@ just ` 165
Total Premium
` 20,79,725 annually
online discount applied'
Limited pay for policy term of 40 years
Pay for
5 years
` 3,143 monthly
7 years
` 1,868 monthly
10 years Best Selling+
` 834 monthly
42 years
` 834 monthly
62 years
` 834 monthly
OR Regular pay Policy term of 60 years @ ` 8,48,409 annually
OR Single pay Policy term of 60 years @ ` 8,48,409 once
Limited pay for policy term of 40 years
Pay for
10 years
` 3,143 monthly
SAVE 50%
60 years
` 834 monthly
SAVE 44%
OR Regular pay Policy term of 60 years @ ` 8,48,409 annually
Total Premium
` 20,79,725 annually
online discount applied'
  • Receive the entire benefit as one payout
  • 74% of our customers choose this (Source: Buy Online data Jan 2016 - Feb 2019)
  • Helpful in case you have a large outstanding loan like a home loan
` 95% of Life Cover
Your nominee will receive a lumpsum of ` 47,50,00,000 + Regular income of amount ` 2,08,333 every month for 10 years
  • Helpful to cover a small loan and provide your family with regular income
Lowest premiums
  • Receive the payout as equal monthly installments over 10 years
  • 25% of our customers choose this (Source: Buy Online data Jan 2016 - Feb 2019)
  • Helpful in case the nominee is not used to handling a large sum of money at once
  • Receive the payout as increasing monthly installments over 10 yrs
  • Monthly payout will increase by 10% simple interest every year
  • 145% of life cover

Secure your home loan withour top selling term plan^

If you have taken a home loan then you may have bought home loan insurance which covers the cost (EMIs) of your home loan in case of your unforseen demise. This is good, but the scope of home loan insurance is limited to your loan amount - it does not take into consideration other expenses that your loved ones will have to bear in your absence. So what happens to cost of living and children's education? How would your family get by in your absence? This is where our term plan can prove to be of great value - because it does so much MORE!


Why choose Term Life Insurance to secure your home loan?

  • With term life insurance, you get cover for your loan and other liabilities you may want to secure
  • With term life insurance, the benefit amount can be used in any way your beneficiaries choose
  • Once you buy Term Life Insurance, the premium is fixed for the entire policy term

Term Life Insurance also gives you added flexibility:

  • Choice of higher coverage amount
  • Choice of payment term (i.e. pay once, for 5, 7 or 10 years or regularly).
  • Choice of payment frequency (i.e. monthly, half-yearly and yearly).
  • Choice of longer policy term (up to age 99 years)



Benefits of ICICI Pru iProtect Smart

Legacy For Family

Financial Protection For Family

Secure your family's dreams and future with life cover available till you turn 99 years old.


Accidental Death Cover (optional)#

Give your loved ones an additional payout (up to 2 crore) in case of your unfortunate demise due to an accident.

34 Critical Illness Cover (optional)##

You can get a payout up to 1 Crore in case of 34 critical illnesses including heart attack, kidney failure and cancer - breast & cervical cancer included.


100% Terminal Illness Payout++

If diagnosed with a Terminal Illness, we pay you the Sum Assured as per your selected payout option.

Waiver of premium++

In case of permanent disability due to accident, your policy continues without you having to pay any premiums.


Tax benefits

Save tax up to 54,600~ u/s 80C & 80D of Income Tax Act 1961.


You can depend on us

30 Day Return Policy

If not satisfied, you can return (free look) the policy and get your money back.

Service Assurance

Your policy will be issued in 72 hours on receipt of all documents and medical reports.

Trusted Claims Experience

-Get peace of mind with our claim settlement ratio at 98.6% as per IRDAI Annual Report FY 2018-19.

Check Our Score Card

  • Lives Covered


    Across our individuals & group customers as of December 2018.

  • Benefits paid

    `1,14,744 CR

    As per Financial Statements (Schedule 4- Benefits paid (Gross)) of the Company, Benefits paid since inception upto year ended March 31, 2018.

  • Sum Assured

    `8,22,564 CR

    Total Sum Assured figure for FY 2017-18. The source for this number is Annual Report FY 2017-18.

  • Assets Under Management

    `1,46,129 CR

    Total assets under management, held at Sept 30, 2018

Payment Options

We support multiple payment options and your transactions are totally secure.

Credit Card Debit Card Netbanking Wallets UPI BharatQR

Contact Us

Our insurance experts are always available to solve any doubts that you may have and help you with anything about your policy

Call center timings 9.30 a.m. – 6.30 p.m., Monday - Saturday




Why is term plan the best?

Term plans give financial protection to your family at the most affordable rates. You can get a large amount of life cover (i.e. sum assured) at a relatively low premium rate. The benefit amount is paid out to the nominee in case of death of the person insured.

Which is the best Term Plan?

We have been awarded 'Best Term Insurance Provider' at Money Today Financial Awards 2017-18 and "Best Insurance Firm of the Year 2018 - Life Insurance" at the Moneycontrol Wealth Creator Awards.

Is this the right age to buy term plan?

Yes, earlier you buy Term Insurance is better (and cheaper). You can buy term insurance till the age of 65 years.

How much life cover do I need?

Ideal life cover should be 10 to 15 times your annual income.

What is the difference between term plan and traditional life insurance plans?

Term plans provide financial security to the family in your absence, whereas, traditional plans are investment plans where you get returns (i.e. cash back). Term plan gives a large sum assured at affordable rates whereas traditional plans gives you limited cover.

Is it better to buy ICICI Pru iProtect Smart online or offline?

It is best to buy ICICI Pru iProtect Smart online because:

  1. You get to buy directly from the insurance company - there are no intermediaries
  2. Your personal and health information is private and secure
  3. You get an online discount on premium for the entire policy term. 5% discount on premium is applicable for regular and limited pay policies. In case of Single Pay, discount applicable is 2% of Single Premium.

How does the Limited Pay option work in Term Insurance?

Limited Pay option is a great option where the customer pays premium for a limited period (5, 7 or 10 years) and enjoys the benefits of the plan for a longer term (like age till 75, 85 or 99). The limited payment option can help customers save on premium.

Does ICICI Pru iProtect Smart cover Terminal Illness?

Yes, with ICICI Pru iProtect Smart, we provide 100% payout in case of Terminal illnesses. This means that if the person insured is diagnosed with a Terminal illness, the full benefit amount will be paid out as a lump sum.

What are the special benefits offered under ICICI Pru iProtect Smart?

We offer affordable Life cover, additional accidental death cover and 34 critical illness cover(optional), disability rider and terminal illness rider both to males and females.

Which riders are available under ICICI Pru iProtect Smart?

There are two rider options available in ICICI Pru iProtect Smart-
Critical Illness Cover: It is an optional benefit which a customer can buy. If one is detected from any of the 34 illness on the diagnosed the critical illness cover is paid to the customer. No bills or proof of expenditure required. To view the list of critical illnesses that are covered, please click here.
Accidental Death Cover: It is an additional cover which is payable in case of death due to accident. It is an optional benefit which a customer can buy. Maximum cover can be of ₹ 2 Crore.

What is Critical Illness Cover?

Critical illness cover is an additional benefit available with ICICI Pru iProtect Smart, which will provide you with lump sum money if you are diagnosed with any of the covered 34 critical illnesses. No expense or medical or hospitalization bills are required. The money can be used in any way you wish. There are no restrictions on hospital (like mediclaim) or against any expenses incurred. To see the list of illnesses covered, please click here.

How much Critical Illness Benefit can I choose under ICICI Pru iProtect Smart?

The minimum Critical Illness Benefit you can choose is ₹ 1 lakh and the maximum benefit will be up to ₹ 1 crore. The cost of medical treatment is continuously rising. So it is suggested to have a critical illness cover of at least 15% of the sum assured.

When do you receive Critical illness pay-out?

This Critical Illness benefit amount is payable if and 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 required to initiate the critical illness claim and it is payable basis fulfillment of definition of the diagnosed critical illness. To see the list of critical illnesses which are covered, please click here.

What happens to the policy and premium when the policy holder is diagnosed with Critical Illness?

The policy continues with the reduced sum assured equal to the amount paid for critical illness and premium is reduced. As a result, the future premiums you have to pay will also get reduce under ICICI Pru iProtect Smart.
For example: If the life cover amount is ₹ 1 Crore and critical Illness cover is of ₹ 25 Lakhs for the annual premium of ₹ 16,568 for a 32 year old female for a policy term of 30 years with lump sum payout option. When she is diagnosed with Critical Illness, cover of ₹ 25 lakhs is paid out as lump sum and the Life cover reduces to ₹ 75 lakhs and the annual premium reduces to ₹ 7304.

What is Accidental Death Cover?

Accidental Death Cover is an additional benefit available under ICICI Pru iProtect Smart which provides the nominee with a higher payout in case of death of the person insured due to an accident.
Accidental Death benefit is up to 2 Crores. Accidental Death Benefit is available in Life Plus and All in One options. Accidental Death Benefit is only applicable up to age of 80.

How much Accidental Death Benefit can I choose under ICICI Pru iProtect Smart?

The minimum Accidental Death Benefit you can choose is ₹ 1 lakh. The maximum benefit will be up to the basic Life Cover subject to maximum of ₹ 2 crore, as per the company policy.

Can the nominee be changed?

Yes, you can change the nominee at any time during the policy term. You can also have multiple nominees.

Does ICICI Pru iProtect Smart allows to insure family members in the same plan?

No, term plan cover is only for individuals and it is must have for every earning member of the family.

Can I save tax under Term Plan?

Yes, you can save tax under Section 80C & 80D of Income Tax Act 1961^.

What policy term should I select?

Policy term should be for the longest tenure to cover your financial liabilities and provide financial stability to your family. You should choose to be protected till the age of 99 or 85 or 75 as per your needs.

Does term plan allows to change the policy term?

No, the policy term cannot be changed once the policy is issued.

What happens to the policy if the premium is not paid after due date or the grace period?

Non-payment of premium will result in the policy to cease and all benefits of the plan will stop. To revive the policy post grace period medical tests may be required.

What is the process of policy issuance?

After medical check is done, KYC documents are submitted and Payment is received, the policy will be issued within 48 hours.

What are the terms and conditions to revive the policy?

One can revive the policy within 6 months without medicals by just paying the outstanding premium amount.

Will my premium increase every year?

No, premium is fixed. The tax component (GST) may change as per Government of India regulations.

What is the grace period for making premium payment?

Grace period for premium payment:
- 15 days for monthly payment mode.
- 30 days for all other payment modes.

Which are the payment terms available for paying premium under ICICI Pru iProtect Smart?

We have 2 options available with us:
- Regular Pay which is equal to your policy term
- Limited pay 1 pay, 5 pay, 7 pay or 10 pay with a longer policy term (like age till 75, 85 or 99).

Does ICICI Pru iProtect Smart have single premium option?

Yes, ICICI Pru iProtect Smart have a single premium option in which the policy holder pays the premium once and gets covered for the full policy term.

What happens under ICICI Pru iProtect Smart in case of permanent disability occurs to policy holder?

If the person insured is permanently disabled due to an accident then all the future premiums are waived off and the policy continues uninterrupted - customer does not have to pay future premium.

In ICICI Pru iProtect Smart under which conditions does the company pays all the due premium for permanent disability?

The company pays all due premiums on your behalf in case of permanent disability caused due to an accident. Permanent Disability will be triggered if you are unable to perform 3 out of the 6 following activities permanently and consistently for 6 consecutive months:
Mobility: The ability to walk a distance of 200 meters on flat ground.
Bending: The ability to bend or kneel to touch the floor and straighten up again and the ability to get into a standard car, and out again.
Climbing: The ability to climb up a flight of 12 stairs and down again, using a handrail if needed.
Lifting: The ability to pick up an object weighing 2 kg at table height and hold it for 60 seconds before replacing the object on the table.
Writing: The ability to write using a pen or pencil, or type using a computer's keyboard.
Blindness: Permanent and irreversible loss of sight to the extent that even when tested with the use of visual aids, vision is measured at 3/60 or worse, using a Snellen eye chart.

What are the payout options available under ICICI Pru iProtect Smart?

You can choose from four flexible payout options:
Lump Sum - It is the most preferred option online. The Life Cover will be paid as a fixed lump sum. For example, if you choose a Life Cover of ₹ 1 crore, your family will receive the same amount as lump sum in case of your death.
Monthly Income - It is the most economical option. You can choose this option if you want your family to receive a regular monthly income.10% of the benefit amount is payable every year for 10 years. This will be paid in equal monthly instalments, in advance, at the rate of 0.83333% of the total benefit amount.
Increasing Income - This payout option gives 45% more life cover. For example, If your Life Cover is ₹ 1 crore, then your family will receive ₹ 10 lakh in the first year, ₹ 11 lakh in the second year, ₹ 12 lakh in the third year and so on. At the end of the 10th years, total life cover received will be ₹ 1.45 crore.
Lump Sum Plus Income - This is our new payout option, in which the Life Cover will be paid in two parts as selected by you at policy inception. For example, if your life cover is ₹ 1 crore, you can choose to give ₹ 50 lakh as lumpsum and remaining Rs 50 Lakh will be paid out in equal monthly instalments of ₹ 41,667 per month, at the rate of 0.83333% per month over 10 years.

What is claim settlement ratio?

Claim settlement ratio refers to the number of claims that the insurance company has paid after death of policyholders. The ratio is the number of claims paid divided by (Number of claims received - Pending Claims). Our claim settlement ratio for FY 2018-19 is 98.6% and the average TAT to the process the claim is 72 hours.

What all the types of death that are covered under Term Plan?

All forms of death are covered under term plan i.e. suicide, accidents, natural death, cancer, heart attack or any other medical ailments, etc.

Is there a refund policy?

Yes. 100% guaranteed refund before and after policy is issued (within 30 days of issuance) with no questions asked.

What are the Mandatory Claim Documents for a Un-natural death required to process the claim?

We only need death certificate, postmortem report, FIR, Panchnama, Inquest report etc. in case of unnatural death to process the claim.

What is the time frame for the claims to be reported?

It is as per the convenience of the nominee to report the claim. There is no time frame or deadline to report a claim.

How can I get my medical reports?

Once your policy is issued, we can share the medical reports on request.

How to organize medical check-up?

You can fix an appointment on our website during the purchase journey or later on. We have two options for medicals:
Home visit: If you have selected this option, you can choose the date and time of examination as per your convenience.
Medical center visit: If home visit option is not available for your location or in case of tests which require medical center visit like X ray, TMT (Treadmill test) etc. You can choose the date, time & center of examination as per your convenience. Cost of medical exam would be borne by the company. You can also get your medical test report at a request.

What is Married Women's Property (MWP) Act?

Under this act, Section 6 highlights it's importance: "a policy of insurance effected by any married man on his own life and expressed on the face of it to be for the benefit of his wife, or of his wife and children, or any of them, shall ensure and be deemed to be a trust for the benefit of his wife, or of his wife and children, or any of them according to the interests so expressed, and shall not, so long as any object of the trust remains, be subject to the control of the husband, or to his creditors, or form part of his estate."

Does ICICI Pru iProtect Smart have an option to buy the plan under Married Women's Property (MWP) Act?

Yes, you can buy ICICI Pru iProtect Smart under MWP act and your wife and kids can be beneficiaries under this act.

Who all can be added as a beneficiaries under the MWP Act?

You can nominate your wife and kids as beneficiaries under MWP act.

What income should I put in the income field?

Please enter all types of your income under annual income (Income like salary, house property, interest from debenture or fixed deposits etc.).

Where can I view the application form that I have submitted?

Application tracker is available on our website. Please click here to view the application form.

What KYC documents are required for buying a policy online?

For buying insurance policy online, one need to submit Address Proof, Identity proof, Age Proof, income proof, Medical documents (if required) and recent photograph. If you enter your Aadhaar number, we do not require any more KYC documents from you. PAN card, AADHAAR card, Driving License and Passport are the most commonly used KYC documents. Click here to see the complete list of KYC documents.

How to quickly fill up the online application form?

We have one of the simplest application forms in the world. We have taken steps to make it easier by auto filling your application through ICICI bank account.

Can I download my online application form?

Yes, you can download the application form.

In what conditions, proposal will be accepted?

Proposal is accepted after KYC documents are submitted, medical tests are completed (if applicable) and premium payment is realized.

How can I cancel my application?

You can cancel the policy by submitting a request at our call center number 1860 266 7766.


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~~This amount is your sum assured (i.e. life cover) and is the amount you will be covered for. You should select an amount which is equal to your home loan amount or higher.

#Accidental Death benefit is up to `2 Crores. Accidental Death Benefit is available in Life Plus and All in One options. Accidental Death Benefit is only applicable up to age 80 years.

##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.

~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.

'5% discount on premium is applicable only for Regular and Limited pay policies. In case of Single Pay, discount applicable is 2% of Single Premium.

* The percentage saving computed is purely in terms of premium paid over Limited term of 5 years (Difference between 5 years Limited and Regular pay) of the policy and does not account for time & other factors that may happen during this period. It is one of the many features that the product offers and you can opt for it based on your individual needs.

^Top Selling term plan refers to ICICI Prudential Life Insurance plans which are bought by customers through the website with our Zero-Paper-Process from Dec 2015 till Dec 2018.

++ Refer the product brochure for the definitions, exclusions and other terms and conditions applicable for Permanent Disability due to accident and Terminal Illness

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

ICICI Pru iProtect Smart UIN 105N151V05. ADVT: W/II/3518/2018-19.

This is how you save with limited pay option
Regular pay
Limited Pay
30 years
5 years
7 years
10 years
11 years
11 years
Total Premium
Premium Save
%age saving
This is how you save with Whole Life limited pay option
Regular pay
Limited Pay
30 years
5 years
60 age years
Total Premium
Premium Save
%age saving

Please give us a missed call on 180030006999 (tollfree)

Call centre hours 9.30 a.m. – 6.30 p.m., Monday - Saturday
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