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ICICI Pru iProtect Smart Joint Life Plan is a combination of two ICICI Pru iProtect Smart (a non-linked term insurance plan: 105N151V11) policies, one for you and one for your spouse.

Term Insurance Calculator

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Your life insurance cover limit will be calculated basis your income. You may be asked to provide an income proof at the time of purchase.
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Your life insurance cover limit will be calculated basis your income. You may be asked to provide an income proof at the time of purchase.
Know how limited pay works
Watch Video
Here's what a 32-year-old healthy male with a life cover of ₹1 crore and policy term of 53 years would pay (The below premiums are inclusive of taxes)1
Limited Pay
Monthly premium : ₹9,737
Total premium : ₹5,84,220
Savings 55.50%
Regular Pay
Monthly premium : ₹ 2,066
Total premium : ₹ 13,13,976
Savings 0%
Claims Corner

Steps to buy

Calculate your Term Insurance premium
Fill the
application form

Make payment & submit documents
Make payment &
submit documents

Complete medical

Policy Issued
Steps to buy
Enter your & your wife’s details & check premium
Complete the application & submit documents
Make payment
Complete medical Check up
Policy Issued

How the plan works? Play Video

Priya's Story
35 Years
Anil chooses a
Life Cover
of ₹1 crore for 30 years
35-65 Years
Anil makes regular
premium payment
65 Years
After his unfortunate death-
The Life Cover is payable to the nominee
Anil's Wife
The nominee gets
₹83,333 as
monthly income
for 10 years
32 Years
Priya chooses
Life & Health Cover of
₹1 crore & Critical Illness
Cover of ₹20 lakh for 30 years
40 Years
She is diagnosed with a critical illness.
She is paid ₹20 lakh as a lump sum &
policy continues with the Sum Assured
reduced to ₹80 lakh
Priya's Daughter
On Priya's unfortunate demise
at the age of 55,
her nominee gets

₹80 lakhs as lump sum
Quick Guide to your plan

Term Plan

Additional Benefits

Term Plan Calculator

Quick Guide to your plan
Term Plan

What is a Term Plan?

Term Insurance plan is a simple and pure risk cover form of life insurance. It provides financial protection to your family against a fixed premium paid for a specified term. You can get a large amount of term insurance cover (sum assured) at affordable premiums. The nominee receives the term insurance amount in case of death of the policyholder

When should I buy a term plan?

The earlier you buy a Term Plan, the better it is as the premiums are lower when you are young. Also, with current lifestyles and increasing instances of illnesses, it may become difficult to get a term plan later, as you grow older
Anil, 30 years old
Policy duration:
30 years
₹866 p.m
Arun, 40 years old
Policy duration:
30 years
₹1,846 p.m
Anil’s wife,
30 years old
Policy duration:
30 years
₹736 p.m.
Anil’s wife,
40 years old
Policy duration:
30 years
₹1,569 p.m

Who should buy a term plan?

If you have children or dependent adult family members and are responsible for paying for their needs and upkeep then you must buy a term plan.
Young individuals
The premium for term insurance increases with age. So it makes smart sense for young professionals without financial liabilities to buy term plan early & this way they get lower premium rates and the rates will not increase over time.
Newly married couples
A term plan can help you create a financial safety net for your growing family so that their dreams are never compromised, even when you are not around.
Home loan repayment
In case of an unfortunate incident, the responsibility of paying the outstanding loans should not fall on your loved ones. In case of your unfortunate demise, the death benefit payout from the term plan can be used by your family to repay your loans.

How much term insurance cover do I need?

While it’s recommended that the life cover be 10 to 15 times your annual income, you also need to take into account your current expenses and the impact that inflation would have on your future expenses. If you are the sole breadwinner, you have dependent family members whom you need to always protect financially. Also, if you take a home loan or an education loan for your child, you need to ensure that, in case something happens to you, your family should not be burdened by loan EMIs. All these factors should be considered when choosing the ideal life cover amount. New age term insurance plans also give one the flexibility to decide how they want their loved ones to receive the life cover payout as a lumpsum, in the form of a monthly income or a combination of both.

What is limited pay option?

With the limited pay option, you can pay premiums for a specific pre-agreed period of time (5, 7, 10 or 15 years) and enjoy the term insurance cover for the whole policy duration, irrespective of the premium payment period. You can save up to 65%** over the entire policy duration with this option

Which payout option should I choose?

Before choosing the ideal payout option, you need to thoroughly evaluate your current lifestyle and the reality of your dependent family members. This will give you fair idea as to how the life cover amount needs to be paid out to your family which will not only take care of their financial needs but also ensure that they are able to manage huge sum of money (the life cover amount) without any hassle in your absence.
  1. Monthly Income : Your term life cover will be paid to your nominee as a monthly installment for a period of 10 years/20 years/30 years (chosen at inception). This option is ideal for those who want to ensure that the burden of outstanding liabilities and monthly household expenses does not befall their loved ones while also paying affordable premiums.
  2. Increasing Monthly Income : Your term life cover is paid out to the nominee in the form of a monthly income, which increases by 10% every year for 10 years. It has been designed to keep in mind that the financial needs of the family will keep increasing due to inflation, and they should be able to manage these without any burden.
  3. Lump-sum : Your entire term life cover amount is paid to your nominee in one go. This is the most preferred option for our online buyers. It can help your family possibly close the pending home loan EMIs. They can also use the huge sum of money (life cover amount) to further invest it in instruments that will ensure needs like sending children abroad for higher education, is taken care of, as such an amount invested as principal and can reap high returns thus fulfilling all your family’s dreams even in your absence.
  4. Lump-sum + Monthly Income : You can choose for your family to receive the life cover payout in 2 parts. In case of death of the policyholder, your family will get one installment as a lumpsum payout immediately and the rest in the form of monthly income for a period of 10 years/20 years/30 years (chosen at inception). This will ensure that the life cover amount can help the family with immediate needs (lumpsum) like loans as well as take care of day-to-day expenses (monthly income).

What are the benefits of a term insurance premium calculator?

  1. Flexibility to customise - The term insurance calculator gives you the flexibility to design your term plan as per your needs. You can pick and choose your own life cover amount, choose to strengthen your coverage by adding riders, choose the premium payment term and payout method as per your financial plan.
  2. Efficient - The term insurance premium calculator can generate a customised quote for you within 2 minutes And all of this is free of charge

What is Accidental Death benefit9 (optional)?

In case the policyholder dies due to an accident during the policy term, the nominee/legal heir will be paid an extra amount. A maximum cover of ₹2 crore is available with this benefit, which you can add during purchase or even after the purchase.
Anil - Age 30
Anil chooses a life cover of ₹1 crore with Accidental Death benefit cover of ₹50 lakh.
Anil - Age 45
Anil dies due to an accident and his nominee gets ₹1.5 crore

What is Critical Illness benefit##(optional)?

Critical illness benefit pays claim amount on first diagnosis of any of the 34 critical illnesses. It means that just a photo copy of diagnosis report is needed and no hospital bills are required to initiate the claim. For women, there is an option to cover critical illnesses like breast cancer and cervical cancer as well. Once the claim for critical illness is paid out, the life insurance cover minus the critical illness cover stays in force with reduced premium.

What is Inbuilt Terminal illness benefit3?

If the policyholder is diagnosed with a terminal illness like AIDS, full sum assured is paid out immediately. This is an in-built benefit and thus, comes at no extra cost.
Anil - Age 30
Anil buys ICICI Pru iProtect Smart with a life cover of ₹1 crore.
Anil - Age 45
He is diagnosed with a terminal illness. His entire life cover amount is paid to him.

What is Inbuilt Permanent disability benefit5?

The policyholder does not need to pay future premiums in case of permanent disability due to an accident. The life cover continues for the entire policy term. This is an in-built benefit and thus, comes at no extra cost
Ajay- Age 32
Ajay buys ICICI Pru iProtect Smart with a life cover of ₹1 crore and a policy term of 30 years.
Ajay- Age 45
Ajay meets with an accident and he was not able to move, climb or bend. The company waived off all his future premiums and the life insurance cover stayed in force for the entire policy term.

What is a Term Insurance calculator?

A term insurance plan offers you a life cover in exchange for a premium. This premium is directly proportional to the sum assured and tenure of your plan. A high sum assured and long tenure may result in a high premium and interfere with your budget. On the other hand, a low sum assured and short tenure may get you a low premium but may not be adequate for your family's future requirements.
Ascertaining the right premium, sum assured, and tenure can be confusing. But a term plan calculator can help you.
A term insurance calculator is an online tool that lets you calculate term insurance premium for your plan. You can use the term insurance calculator free of charge and understand the estimated premium amount of your desired plan. Using a term insurance calculator is simple and completely hassle-free. All you need to do is add a few details like your name, age, annual income, etc., and the calculator will calculate term insurance premium for you.

How does a term insurance calculator work?

A term insurance calculator is a tool designed to help you determine the appropriate coverage amount and premium cost for a term life insurance policy. Here's how it typically works:
  1. You provide basic personal information such as your age, gender and whether you are a Non-Resident Indian (NRI).
  2. You are asked about certain lifestyle factors, such as tobacco consumption, to determine your overall health, including any pre-existing medical conditions.
  3. The term insurance premium calculator requests details about your annual income.
  4. The term life insurance calculator assesses your occupation and educational qualifications to gauge the level of risk associated with your profession.
  5. Your location, including your pincode and city, can impact your premium. The term insurance plan calculator collects this information to generate an accurate quote for your plan.
  6. Once you have provided all the necessary information, the calculator will provide you with a quote, showing you the estimated premium for the specified coverage.
ADVT W/II/0866/2023-24

How is your term insurance premium calculated?

Various factors can determine your term plan premium, such as your age, gender,income, lifestyle habits, occupation, policy term, sum assured amount, additional riders, medical history, premium payment term, and the frequency of premium payment. Starting point to know your premium would be through a term insurance calculator

Steps to use the term insurance premium calculator

You can follow these steps when using a term insurance calculator:
  1. Enter your name, email address, and phone number
  2. Enter your date of birth and gender
  3. Enter your annual income
  4. Mention lifestyle habits like smoking, consuming tobacco or alcohol (if any)
  5. Enter policy related details like the life cover amount, policy tenure, premium payment method, frequency of premium payment (monthly, half-yearly, annual, etc.)
  6. Choose riders like the terminal illness benefit, the critical illness benefit, the permanent disability benefit, or the accidental death benefit. Riders are optional, but you can add them if you want additional protection
The term plan calculator will provide you with an estimated premium amount instantly. If you are not satisfied with the result, the term insurance premium calculator allows you to tweak the information, like increase or decrease the life cover amount, shorten or extend the policy tenure, add or remove riders, etc.

Rider Options With ICICI Pru Life Plans

Below are the four riders offered by ICICI Prudential Life Insurance
Critical Illness Benefit Rider
The Critical Illness Benefit rider## (optional) provides financial protection against a specified list of 34 critical illnesses. If the policyholder is diagnosed with one of the covered critical illnesses during the policy term, a lump sum amount is paid out. This payout can cover medical expenses, treatment costs or any other financial needs that may arise due to the critical illness.
Accidental Death Benefit Rider
Accidental Death Benefit rider9 (optional) offers an additional cover of ₹2 crore in the event of an unfortunate accident involving the policyholder. If such an incident occurs, the nominee receives the sum assured, in addition to the base life insurance policy's benefit, providing an extra layer of financial protection in the policyholder's absence.
Terminal Illness Benefit Rider
With the Terminal Illness Benefit3 rider, the entire sum assured is paid out in advance if the policyholder is diagnosed with a terminal illness during the policy term. The money can be used to pay for medical expenses and provide financial support during the challenging period of a terminal illness.
Permanent Disability Benefit Rider
The Permanent Disability Benefit5 rider waives off the future premiums if the policyholder has permanent disability due to an accident. This ensures continued life insurance coverage if the policyholder is unable to work and earn due to the disability.
ADVT: W/II/0866/2023-24

Why choose ICICI Prudential Life?

7.71 Cr%
Lives covered as
on March 31, 2023
₹2.36 Lakh Cr`
Benefits paid till
March 31, 2023
1 Day
Settlement >
30 Day Return Policy
If not satisfied, return
(free look) the policy and
get your money back
If not satisfied, return (free look) the policy and get your money back

Frequently Asked Questions

Yes, you can purchase a term plan online with verified payment methods like UPI, debit or credit card, or net banking. As long as you select a reputable insurance company, you have nothing to worry about. In case of any issues, you can also reach out to the customer service team.
While traditional life insurance plans have both a protection and an investment component, term insurance plans are pure protection plans that don't give any payout on surviving the policy term. However, as compared to traditional life insurance plans, term plans have the advantage of providing large sum assured coverage at much more affordable rates.
In today's uncertain times, it is important to ensure your dependents are financially protected even if you are not around. Buying a term plan is a simple and cost-effective way to do this. With term insurance, you can get a large amount of life cover at a relatively low premium rate. You can get a ₹1 crore term insurance cover starting at just ₹460 per month2a, which is less than half the cost you would typically pay for an outing with your family. The benefit amount will be paid to the nominee in case of death of the policyholder during the term of the policy.
Many companies today provide insurance cover for their employees. However, it is advisable to get an individual policy for yourself for the following reasons:
  1. Not enough cover - The cover provided by company's life insurance policy (generally ₹10-15 lakh) may not always be sufficient to sustain your family in case something happens to you.
  2. Will lose coverage if you change your job - This coverage is dependent on your job. If you leave the job, the insurance cover ends then and there, till you join a new job. The period between the end of the old job and the start of the new one would be without cover.
  3. Standard policy for all employees, not customized to your needs - The life insurance policies provided by your employer are standardized policies which are not customized according to your specific needs and don't generally contain any provisions for critical illness, terminal illness and disabilities.
Hence, even if you are covered under your company's group policy, you may still buy a separate term plan with a life cover that is at least 10-15 times your annual income to make sure your family is able to sustain their current standard of living and is adequately provided for in your absence.
You can get a term plan online by visiting the ICICI Prudential Life website and clicking on Term Insurance. You can download the brochure to go through the details of the policy or fill your basic details like age, gender, tobacco usage, income etc. in our term insurance premium calculator and generate a customised quote. You can then make the payment, submit the documents, and complete the medical check-up. Your policy will be issued once all these formalities have been completed.
Yes, the minimum and maximum age for buying a term plan are 18 and 60 years respectively.
There are various factors you need to consider when selecting the best term plan. These are:
  1. Brand: Choose a well-known brand that is financially strong and sure to be around for a long time. ICICI Prudential Life Insurance is an old and trusted private sector life insurance company in the country with an Assets Under Management value of ₹2.40 tn18 (as on Mar 31, 2022).
  2. Claim settlement: Select an insurance company with a consistently high claim settlement ratio and an easy and hassle free claim settlement process. With ICICI Prudential's term plan, you can get your claim settled within 1 day >. The company has a claim settlement ratio of 97.8% (FY 2021-22) ~ and has paid ₹2.04 tn ` in claims (since inception up to Mar 31, 2022) You can check our last 5 years' claim settlement ratio here .
  3. Additional benefits: Look for additional benefits such as critical illness coverage and accidental death coverage. ICICI Prudential Life term plan provides the option to get health coverage for 34 critical illnesses## up to ₹1 crore and accidental death coverage9 up to ₹2 crore.
There are various benefits of buying a term plan online:
  1. Ease and convenience - You can complete your purchase in just a few minutes anytime anywhere. You can explore our plans on your mobile too
  2. Better control - Buying a term plan online lets you customize it according to your exact needs instead of relying on someone else to do so.
  3. Complete transparency - As there are no intermediaries involved and you buy directly from the insurance company, the entire process is transparent and you are not set up for any unpleasant surprises later on.
  4. Full security - Your personal and health information is private and secure.
  5. Online discount - ICICI Prudential provides up to 5% discount`= when you purchase our term plan online (If you are an ICICI group employee, you get 10% discount throughout the policy term, even if you leave the organization after purchase of the policy).
  6. Dedicated Relationship Manager - From the moment you purchase a policy till the time you receive the policy kit, a dedicated Relationship Manager will be assigned to you who will assist you at every step, right from uploading of documents to fixing up your medical appointments to any other doubts/issues your might have about our process.
All kinds of deaths are covered under the plan including natural, accidental, murder, illnesses and natural calamities. You are covered under this plan as soon as your policy is issued and there is no waiting period ==. Coverage of death due to suicide is not available only in the first year of policy. Also, once you buy the policy, you stay covered whether you are in India or abroad.
The term insurance cover you need depends on your current annual income. We recommend that a term insurance cover equivalent to 10-15 times your annual income is sufficient to provide for a safe future for your family. If budget is a problem, you can go for a monthly premium payment option over a yearly commitment. However, it is important to have a sufficient term insurance cover so that your family's financial security is not comprmised. A term insurance premium calculator will help you in choosing the term insurance cover well suited to your budget
You should get a policy till your retirement age. But financial liabilities can continue beyond retirement too. ICICI Prudential Life term plan also gives you the option to get a whole life plan till the age of 99 years. It will be cheaper to buy a policy for a longer term now than to purchase another one later.
ICICI Prudential Life term plan comes with two in-built benefits:
  1. Terminal Illness Benefit3: You receive 100% claim payout in case you contract a terminal illness 3
  2. Permanent Disability Benefit5: All your future premiums are waived off while your policy continues if you get a permanent disability 5
Refer to our product brochure to know more about these benefits.
Our term insurance plan offers a term insurance cover up to ₹2 crore and an additional critical illness benefit (optional) of up to ?25 lakh with only telemedicals process (subject to underwriting). The same can be completed from the safety of your home. In case you are required to undergo physical medicals, our team will contact you for the same.
You don't have to visit any of our branches as the entire process is online. Yes, there maybe a situation where you may have to visit one of our health partners (diagnostic center) to undergo physical medicals. Our team of experts will decide based on the details given by you, whether you are eligible for Tele medicals or Physical medicals. Also if our Health Partners are available in close proximity to your place of residence we will arrange for a home visit. The cost of the medical tests are completely borne by ICICI Prudential Life Insurance.
ICICI Prudential Life was founded in the year 2001. With a legacy of 21 years, ICICI Prudential Life has earned itself the trust of its customers by being one of the top private insurers in the country today. Not only that, with time we have adapted ourselves wth the changing consumer needs with customer centricity being one of our cornerstones.
1.There for you
Taking the customer first approach, we have made the online insurance buying process very easy and seamless. Be it offering 5% discount`= on premiums throughout the policy term or providing assistance at the time of purchase or assigning a dedicated Relationship Manager to assist you every step of the way, you can be assured that ICICI Prudential Life will be there for you.
2.There for your family
At ICICI Prudential Life, we put our customers first and have been striving to improve our claims experience over time. Your family has the option to report claim either online, at our branches, central office, via SMS, e-mail or through our call centre as per their convenience. We also provide an option of door step claim document pick-up (within India). To avail this service, the beneficiary needs to submit a request at claim.support@iciciprulife.com or at our call-centre. Our special ClaimCare team will assess your claim, and inform you in case any further documents need to be submitted. Post receiving all the necessary documents, we will process your claim request. When it comes to settling claims you can trust ICICI Prudential Life's track record of high claim settlement ratios. You have made the right choice by choosing us as your Life Insurance partner.
Terminal Illness is an in-built feature of our Term plan as it does not incur any extra cost3. Any condition or illness which, in the opinion of two independent medical practitioners’ specializing in treatment of such illness, is highly likely to lead to death within 6 months will be considered as a Terminal Illness. The terminal illness must be diagnosed and confirmed by medical practitioners’ registered with the Indian Medical Association and approved by the Company. On the other hand, Critical Illness Cover is an optional benefit that you can purchase wherein you receive a pre-determined claim amount in case of diagnosis of any of 34 specified critical illnesses ##. No bills or proof of expenditure is required. There is also no restriction of network hospitals. You can use the claim amount to get a treatment at a hospital of your choice or however else you deem fit. This benefit is accelerated and not additional, which means the policy will continue with the Death Benefit reduced by the extent of the critical illness benefit paid. Also, the premium for this benefit remains constant throughout policy term.
A term insurance calculator can help you save time and effort. It is a free online tool that gives an accurate result of the premium which you have to pay for the life cover` of your choice. Online term insurance calculators also make it easier to create a budget and accommodate your insurance needs within it.
A term insurance calculator also offers a lot of flexibility wherein you can add or remove benefits/riders based on your requirement, choose how you would want your nominee to receive the life cover` amount in case of unfortunate death as well as choose to pay premiums in a frequency which you would be more comfortable with.