What are the various Life Insurance calculators offered by ICICI Pru Life?

Choosing the right life insurance plan can be a difficult task due to the numerous options available. Factors such as the premium, sum assured, policy duration, returns, maturity amount, surrender value, bonuses, and more make it challenging to accurately assess and compare all the variables.

However, a life insurance calculator can be a valuable tool in navigating through this complexity. Here is a list of all life and health insurance calculators offered by ICICI Pru Life that can simplify the process of buying an insurance plan for you:

Explore our calculators

Term Insurance

Savings and Investment

Retirement

Income Tax

Others

Below are the plans where we offer you

Term life insurance plans

ICICI Pru iProtect Smart Calculator

ICICI Pru iProtect Smart Calculator

Affordable2a Life Cover@ + 100% Premium BackS1 Option

ICICI Pru iProtect Return of Premium Calculator
In ULIPs, the investment risk in the investment portfolio is borne by the policyholder

ICICI Pru Protect N Gain

Large Life Cover1 + Market-Linked Returns~

Below are the plans where we offer you

Savings and Investment

ICICI Pru GIFT Pro

ICICI Pru GIFT Pro Calculator

Guaranteed^, Tax-free* returns as per your choice Life cover+

ICICI signature
In ULIPs, the investment risk in the investment portfolio is borne by the policyholder

ICICI Pru Signature Calculator

Long-term wealth + Life cover/

ICICI signature
In ULIPs, the investment risk in the investment portfolio is borne by the policyholder

ICICI Pru Signature Capital Guarantee II

Market-linked returns12 + 100% Safety9 of capital + Life cover4

This advertisement is designed for a combination of benefits….. Read More This advertisement is designed for a combination of benefits of two individual and separate products named, 1) ICICI Pru Signature and 2) ICICI Pru Guaranteed Income For Tomorrow. These products are also available for sale individually without the combination offered/suggested. The benefit illustration is the arithmetic combination and chronological listing of combined benefits of individual products. The customer is advised to refer to the detailed sales brochure of respective individual products mentioned herein before concluding the sale. The Linked Insurance Products do not offer any liquidity during the first five years of the contract. The policyholder will not be able to surrender or withdraw the monies invested in Linked Insurance Products completely or partially till the end of the fifth year.
ICICI Pru Sukh Samruddhi

ICICI Pru Sukh Samruddhi Calculator

Guaranteed returnso in form of a regular income or Lump Sum + Life cover+

^conditions apply

Below are the plans where we offer you

Retirement

ICICI Pru Guaranteed Pension Plan Flexi Calculator

ICICI Pru Guaranteed Pension Plan Flexi Calculator

Guaranteed~ lifelong income with regular investment

ICICI Pru Saral Pension Plan Calculator

ICICI Pru Saral Pension Plan Calculator

Guaranteed~ pension (annuity) for life

Pension Calculator

Pension Calculator

Determine your post-retirement monthly income

Retirement Calculator

Retirement Calculator

Calculate your retirement corpus

~conditions apply

Below are the plans where we offer you

Income Tax

Income Tax Calculator

Income Tax Calculator

Calculate the tax payable on your annual income

House Rent Allowance (HRA) Calculator

House Rent Allowance (HRA) Calculator

Calculate how much tax you can save through HRA exemptions

Below are the plans where we offer you

Others

Compound Interest Calculator

Compound Interest Calculator

Calculate the potential growth of your investment over time

Human Life Value (HLV) Calculator

Human Life Value (HLV) Calculator

Find the right life cover amount for you

Equated Monthly Instalments (EMI) Calculator

Equated Monthly Instalments (EMI) Calculator

Calculate your monthly instalment payments for loans

Body Mass Index (BMI) Calculator

Body Mass Index (BMI) Calculator

Assess your body mass index health

Home Loan Insurance Calculator

Home Loan Insurance Calculator

Secure your home loan EMIs

What are the benefits of using a Life Insurance Calculator?

  • Simplified Process

    A life insurance calculator can simplify the process of choosing the right insurance plan. It eliminates the need for complex manual calculations and offers quick and accurate estimates that can help you understand and compare different options.

  • Easier Financial Management

    Using a life insurance calculator allows you to understand the financial impact of purchasing an insurance plan. You can assess its effect on your budget and future financial security. You can evaluate the premium and sum assured and select a suitable policy duration that aligns with your financial goals and budgetary constraints.

  • Hassle-Free

    Using the life insurance calculator is easy and hassle-free. It takes only a few minutes to compare multiple variables and scenarios, such as premium payments, policy duration, and coverage amount. You can customise the insurance plan according to your specific requirements based on the results.

  • Transparency

    A life insurance calculator enhances transparency and helps you make an informed choice. You get to see and compare accurate calculations based on the inputs you provide. There is no ambiguity, and you can determine the most suitable features for your plan based on factors like maturity value, potential returns, premium charged, and more.

How to Use a Life Insurance Premium Calculator?

Steps to Use a Life Insurance Premium Calculator

Step 1

Step 2

Step 3

Step 4

Step 1

You can start by selecting the calculator specifically designed for the type of life insurance you want to purchase. For instance, if you want to buy a basic term insurance plan, you can use the ICICI Pru iProtect Smart Calculator. If you want to buy a term insurance plan with a return of the premium, you can use the ICICI Pru Protect Return of Premium Calculator.

Step 2

The calculator requires you to provide information such as age, gender, policy term, sum assured, and any additional riders or benefits you wish to include. After reviewing the policy page, you can fill in all the necessary details in the designated fields.

Step 3

Once you have entered all the required details accurately, you can click on the "Calculate" button on the calculator. You can also re-enter these details to try different variables and understand how they impact you financially.

Step 4

You can also check the financial impact of add-on benefits or riders, such as the critical illness benefit, or the accidental death cover available for a specific life insurance plan and determine the change in the final premium amount.

What are the factors that affect the Life Insurance Premium rate?

The life insurance premium can be affected by several factors. Here's a list of factors that are taken into consideration when calculating the premium as well as insurance coverage for your desired plan:

Age

Normally, younger individuals are offered lower premiums as they are less prone to health issues than older applicants. Since they are likely to have a longer lifespan, they are charged less premium. On the other hand, older people may be charged more.

Family medical history

Your family's medical history can impact your life insurance premium. If you have a history of illnesses or a genetic predisposition to contract certain health conditions, like diabetes, blood pressure, and others, the premium may be higher.

Personal medical history

Your individual personal medical history also plays a crucial role in determining the life insurance premium. If you have any pre-existing medical condition, you will entail a higher risk for the insurance provider. As a result, you may be charged a higher premium.

Gender

Statistically, women tend to live longer compared to men. Hence, women may pay a lower premium than men, even if both applicants are the same age.

Smoking and drinking

Smoking and drinking are associated with a higher risk of developing some health problems, like liver and heart disease, cancer, and others. If you drink and smoke, insurance providers are likely to charge you a higher premium.

Policy term

The duration of the policy term also affects the premium. Longer policy terms typically result in a higher premium and vice versa.

Occupation

The nature of your job can directly impact the life insurance premium. You may be charged a higher premium if your job involves risk due to hazardous work conditions.

Frequently Asked Questions

1. Are Online Life insurance calculators accurate?

Yes, online life insurance calculators are accurate and reliable. However, it is important to note that the final return, premium amount, or other variables may be different from the results on the calculator. This is because some of these factors may change over time with changes in policy features, untimely surrenders, tax laws, and more.

Having said that, online life insurance calculators can provide a good starting point to gain a comprehensive outlook on your insurance needs.

2. Does the Life insurance premium calculation have any impact on smokers?

Yes, the premium payment for smokers is typically higher than others. Since smokers are prone to illnesses, insurance companies charge them more to curtail risk. Non-smokers normally qualify for a lower premium.

3. Do I need both Life insurance & Health insurance?

Yes, purchasing both life and health insurance may be advised, as they serve different purposes. Life insurance provides long-term financial protection for your loved ones in the event of your demise, while health insurance covers healthcare expenses arising from an illness, injury, or hospitalisation.

However, if you wish to buy only one plan, you can purchase a life insurance plan and add a critical illness benefit to it. This can provide you with comprehensive coverage for your family's financial security and your healthcare needs.

4. Will I be eligible for tax* benefits if I buy Life insurance?

  • Premiums paid under the policy are allowed as a deduction subject to conditions under Section 80C* of The Income Tax Act, 1961
  • The proceeds received under the policy are exempt subject to conditions prescribed under Section 10(10D) * of the Income Tax Act, 1961
  • When you opt for the optional Critical Illness** benefit under some insurance plans, you can get deduction subject to conditions under Section 80D* of The Income Tax Act, 1961

5. What are the premium payments terms available?

The life insurance premium can be paid depending on the term chosen at inception. The options usually offered are once in a policy term, annually, semi-annually, quarterly, and monthly.

6. What is the ideal premium payment term?

The ideal premium payment term can vary based on the insurance plan. Insurance companies may offer a premium payment term of a few years or for the entire length of the plan.

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ICICI Pru iProtect Smart
@ Life cover is the benefit payable on the death of the Life Assured during the policy term.
2aThe premium of ₹460 p.m. has been approximately calculated for an 18-year-old healthy male life (occupation: non-salaried) 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.
S1Total 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).
ICICI Pru iProtect Smart. UIN:

ICICI Pru GIFT Pro
+ Life Insurance Cover is the benefit payable on death of the Life Assured during the policy term
^ Guaranteed Benefits will be payable subject to all due premiums being paid
* Tax benefits/Tax-free returns under the policy are subject to conditions under Sections 80C, 10(10D), 115BAC and other provisions of the Income Tax Act, 1961. Goods and Services Tax and Cesses, if any will be charged extra as per applicable rates. Tax laws are subject to amendments from time to time. Please consult your tax advisor for more details.
Level Income and Increasing Income are income options available under GIFT Pro. Guaranteed Benefits will be payable subject to all due premiums being paid. Under Level Income, the Guaranteed Income will remain constant throughout the income period. If Increasing Income is selected, the Guaranteed Income will increase at a simple interest rate of 5% p.a. You can either opt for Level Income or Increasing Income option. This option has to be selected at inception and cannot be changed later.
ICICI Pru GIFT Pro UIN:

ICICI Pru Signature
/ Life Cover is the benefit payable on the death of the life assured during the policy term.
ICICI Pru Signature UIN:

ICICI Pru Sukh Samruddhi
0 ICICI Pru Sukh Samruddhi offers two plan options namely ‘Lump sum’ and ‘Income’. The customer can choose any of the two available options. Guarantee is in the form of ‘Sum Assured on maturity’ in Lump Sum plan option and ‘Guaranteed income’ in Income plan option.
+ Life cover is the benefit payable on the death of the Life Assured during the policy term.
ICICI Pru Sukh Samruddhi UIN: 105N188V01

ICICI Pru Protect N Gain
1Life cover is the benefit payable on death of the life assured during the policy term. Death Benefit will be highest of:
• Sum Assured, including Top-up Sum Assured, if any
• 105% of the total premiums paid
• Fund Value including the Top-up Fund Value, if any
~Maturity benefit is policy fund value, including top up fund value, if any. On payment of maturity benefit, the policy terminates.
ICICI Pru Protect N Gain UIN:

ICICI Pru Signature Capital Guarantee II
4Life cover is the benefit payable on death of the life assured during the policy term
9Guaranteed benefits will be payable, provided all due premiums have been paid.
Guaranteed benefits are payable through ICICI Pru Guaranteed Income For Tomorrow.
12 Wealth creation is through maturity benefit of ICICI Pru Signature.
The customer is requested to separately go through the product brochures of ICICI Pru Guaranteed Income For Tomorrow (UIN: 105N182V09, a non-linked, non-participating, life, individual, savings product) & ICICI Pru Signature UIN:( , A Linked Non-Participating Individual Savings Life Insurance Plan) to take the decision to opt for this combination solution after having fully understood the risk factors, product terms and conditions.
W/II/0723/2024-25

~ Your annuity/income is informed to you when you buy the plan and is guaranteed and unchanged for life.
Conditions Apply.
ICICI Guaranteed Pension Plan Flexi – UIN:
ICICI Pru Saral Pension - UIN:
E/II/0634/2023-24

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