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NEW LIMITED PAY OPTION
43%*

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Attention: Available only for premium more than Rs. 3600. Please increase life cover!
Attention: Maximum life cover we can offer you is `50 Lakhs
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Based on your details, you need tele-medicals while buying this plan
` 2,00,000 annually
online discount applied'
`
@ just ` 165
`
@ just ` 165
 
` 2,00,000 annually
online discount applied'
Limited pay for policy term of 40 years
 
Pay for
Premium
10 years Best Selling++
` 834 monthly SAVE 44%
7 years
` 1,868 monthly SAVE 48%
5 years
` 3,143 monthly SAVE 50%
5 years Highest Savings
` 3,143 monthly SAVE 50%
5 years Highest Savings
` 3,143 monthly SAVE 50%
OR Regular pay Policy term of 60 years @ ` 8,48,409 annually
Limited pay for policy term of 40 years
 
Pay for
Premium
10 years Best Selling
` 3,143 monthly SAVE 50%
60 years
` 834 monthly SAVE 44%
OR Regular pay Policy term of 60 years @ ` 8,48,409 annually
` 2,00,000 annually
online discount applied'
Popular
  • Receive the entire benefit as one payout
  • 74% of our customers choose this
  • Helpful in case you have a large outstanding loan like a home loan
New
` 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
  • Helpful in case the nominee is not used to handling a large sum of money at once
Covers increasing expenses
  • Receive the payout as increasing monthly installments over 10 yrs
  • Monthly payout will increase by 10% simple interest every year
  • 145% of life cover

 

The new way of buying term life insurance

Have you heard of the limited pay option available with our term plan? This option makes your term insurance much cheaper. Wondering how? Well, the plan is designed this way. All you have to do is select the amount of life cover you need, then select the payment option as limited pay. You will get multiple options to pay (i.e. 5 years, 10 years, etc). Pick the option that suits you best and save much more of your premium. Remember that premium increases with your age, so make sure you buy today so that you lock in the best premium rate!



Benefits of our top selling term plan^^

AFFORDABCE PROTECTION

Protection till age 99 years

Get life cover till age 99 years at affordable rates so that your loved ones are financially secure in your absence.

Waiver of premium

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

100% PAYOUT (TERMINAL ILLNESS)

100% Payout (Terminal Illness)

If diagnosed with a Terminal Illness, we pay you the complete Sum Assured as a lump sum payout.

100% BENEFIT PAYOUT

Tax benefits

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

100% benefit payout

Pay for limited period

Flexibility to pay for shorter period (i.e. 5 years, 7 years or 10 years) and get cover for the full policy term.

100% benefit payout

Critical illness cover (optional)

Payout up to `1 Crore in case of 34 critical illnesses##.

 

You can depend on us

Award Winning Protection

Voted 'Best Term Insurance Provider' at Money Today Financial Awards 2017-18

Service Assurance

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

30 Day Return Policy

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

Check Our Score Card

  • Claim Settlement Ratio~

    97.88%

    ~Claim settlement ratio is for FY 2017-18 and computed basis individual claims settled over total individual claims for the financial year.

  • 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

 

Howit works

Men Icon

Rakshak 50 Year old, Senior Manager

He wants to create an inheritance for his family so that they are financially secure from his loans and other liabilities.

His family included his 48 year old wife, his 22 year old daughter and 18 year old son.The daughter was doing her MBA and the son was pursuing engineering.

Rakshak buys ICICI Pru iProtect Smart

  • He purchased ICICI Prudential iProtect Smart term insurance plan online for a life cover of `3 Cr
  • He selected the new payout option: Lump sum + regular income. With this option, in case of his death, the family would get a large amount followed by regular income for 10 years.

Rakshak’s untimely death

  • After 5 years, Rakshak suffered a massive heart attack and could not survive.
  • The family went into emotional shock. His children did not know what to do about their future. His daughter was yet to be married and his son was still in college.

Family received the benefits

  • His wife made the claim and the family received `1.50 Cr as a lump sum and `1,25,000 every month for 10 years.
  • His daughter got married, son completed engineering and pursued further studies abroad. The remaining amount, his wife has saved for her grand children.
Women Icon

Prerana,32 Year old, School Principal

She’s independent and wants to leave an inheritance as a financial support for her son and daughter in case of her death in the future. She chooses the Lump sum + Regular Income payout option.

Prerana buys ICICI Pru iProtect Smart

  • Prerana chooses a life cover of `2 Crore with a policy term of 67 years (whole life cover till age 99)
  • She pays an annual premium of `37,505(incl. of taxes) with Regular Payment option
  • She chooses lumpsum payout option of `1 crore to be paid out as a regular income of `83,333 per month for the next 10 years

Prerana’s unforeseen death

  • Her son and daughter receive a lumpsum payout of `1 crore and Regular Income of `83,333 every month for the next 10 years.
Men Icon

Jeevan 40 Year old, Senior Manager

He wants to build a huge inheritance corpus to ensure that his family’s future is always secure from any liabilities and disputes. He also wants to create a corpus for critical illnesses to cover the high medical treatment costs that come with a critical illness when he gets older.

Jeevan buys ICICI Pru iProtect Smart

  • He chooses a life cover of `2 Crore & a critical illness cover of `20 lakh
  • He chooses Lump Sum payout option & a whole life policy (till age 99) and gets a 59 year policy term
  • He pays an annual premium of `92,583 yearly (incl. of taxes) with Regular Payment option.

Jeevan is diagnosed with a critical illness

  • Critical illness cover of `20 lakhs is paid out as lump sum to Jeevan immediately
  • Life cover reduces to `1.8 crore
  • Premium reduces to `68,214 (incl. of taxes)

Jeevan's untimely death

  • His nominee gets a lump sum payout of `1.8 crore

Payment Options

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

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Contact Us

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

1860 266 7766

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*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. The percentage saving is for ICICI Pru iProtect Smart for `2 Crore life cover for a 25 year old healthy male for a policy term of 60 years with lumpsum income payout option. The annual premium will be `22,239 & the monthly premium will be `1,900. The premium amounts are inclusive of taxes

**The percentage saving computed is purely in terms of premium paid over the term (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. The percentage saving is for ICICI Pru iProtect Smart - Life Option for `'+setValFW(UserInput.sumAssured)+' life cover for a '+UserInput.age+' year old healthy '+UserInput.gender+' for a policy term of '+UserInput.term+' years with regular income payout option. The annual premium will be `'+addCommas(Glb_YearlyPremium)+' & the monthly premium will be `'+addCommas(Glb_MonthlyPremium)+'. The premium amounts are inclusive of taxes.

#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.

##The critical illness benefit is an accelerated benefit and the death benefit will be reduced by the critical illness cover paid to the policyholder. The future premiums payable for the residual CI Benefit will reduce proportionately. In case the CI Benefit equal to the Death Benefit, the policy will terminate on payment of the CI Benefit. Only doctor’s certificate confirming diagnosis needs to be submitted. On payment of Angioplasty, if the CI Benefit is more than `5,00,000 the policy will continue for other CIs with CI Benefit reduced by Angioplasty payout. To know more about the illnesses covered, please refer to the Sales brochure. Available under Life and Health and All in One options. CI Benefit is available till age 75 years.

+ Based on number of policies sold online between January 2016 - February 2017.

' 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.

^^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

++ Best Selling refers to the most selected Limited Payment option by customers on our website from Dec 2018 till Feb 2019

^ 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.

~Claim statistics are for FY 2017-18 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 105N151V04. W/II/3283/2018-19.

This is how you save with limited pay option
X
 
Regular pay
 
Limited Pay
 
 
30 years
5 years
7 years
10 years
10 years
10 years
Pay 1
916
3121
2353
2086
2086
2086
Total Premium
329760
187260
197652
250320
250320
250320
Premium Save
142500
132108
79440
79440
79440
%age saving
43%
40%
24%
24%
24%
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