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97.8% claim settlement ratio ~

1 day death claim settlement *

Rs. 1.49 Lakh Cr benefits paid `

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ICICI PRU TERM INSURANCE

Complete protection for your loved ones

offer Buy online & get a 5% discount throughout your policy term offer

  • Covers Covid-19 claims8
  • Large cover at affordable rates2
  • High claim settlement ratio of 97.8%~
  • 34 critical illnesses benefit option##
  • Life cover up to ₹ 2 Crore with telephonic medicals

offer Buy online & get a 5% discount throughout your policy term

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TERM INSURANCE CALCULATOR


(Choose 'YES' if you have smoked or chewed tobacco in last 12 months)
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I will get What is this ?

cover till 99 years of age
480 /
online discount' applied throughout policy term
arrow Keep these documents handy!
1.

Additional benefits I can opt for

2 benefits with no extra cost added

View benefits
2.

I will pay for

10 years - I stay covered for the entire policy term of 30 years

What is limited pay?
Save up to 65% on your premiums with limited pay option**. See How
3.

In my absence, my family will get

The entire amount in a single installment

Lumpsum payout of 1 Cr

One large amount + rest in installments

50%

Lumpsum payout of 50,00,000 +

Regular monthly income of 50,000 for 10 years

Regular monthly installments

Regular monthly income of 83,333 for 10 years

Increasing installments

Regular monthly income starting at83,333 increasing by 10% every year for 10 years

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I will get What is this ?

480 /

Base Premium

920/month

+

Critical Illness

156/month

+

Accidental Death

240/month

Additional benefits I can opt for

Critical Illness Benefit Option156/month

We pay the entire cover amount on the first diagnosis of a critical illness.

View all 34 illnesses

50 Lakhs

Accidental Death Cover 156/month

Additional cover in case of an accidental death.

25 Lakhs

In my absence, my family will get

The entire amount in a single installment

Lumpsum payout of 1 Cr

One large amount + rest in installments

50% of Life Cover

Lumpsum payout of 50,00,000 +

Regular monthly income of 50,000 for 10 years

Regular monthly installments

Regular monthly income of 83,333 for 10 years

Increasing installments

Regular monthly income starting at83,333 increasing by 10% every year for 10 years

I will pay for

10 years - I stay covered for the entire policy term of 30 years

What is limited pay?
Save up to 65% on your premiums with limited pay option**. See How

1. Please tell us about your occupation

2. What is your premium budget?

Choose how much premium you want to pay as per your budget.
phonr

Pro tip : Save 2.5% on your premium when you choose annual premium payment mode7

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Key Benefits of our Term Insurance Plan

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34 Critical Illnesses Benefit Option##

Get covered against 34 specified critical illnesses such as cancer and heart attack. Claim paid out on first diagnosis, no hospital bills needed. Policy will continue with the life cover reduced by the extent of the critical illness benefit paid.

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Accidental Death Cover Option9

Get additional life cover (up to ₹ 2 crore) in case of death due to an accident. Death due to an accident often involves extra costs and this will ensure that your family is sufficiently secured in case of such an unfortunate incident.

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Tax Benefits upto ₹ 54,600^

All premiums paid and benefits received are eligible for tax benefits under Sections 80D,80C and 10(10D).

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One Day Claim Settlement*

Ensure quick and hassle-free claims service when your family needs it the most. We guarantee one day settlement for all death claims, with interest payable for every day of delay beyond one working day.

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In-Built Terminal Illness Benefit3 (Free)

Terminal illnesses are those that would likely lead to death within 6 months of being detected (e.g. AIDS). They are not only life threatening but also spell financial ruin. We guarantee full claim pay out immediately in case the life assured is diagnosed with a terminal illness. This benefit comes in-built with the policy without any extra cost to you.

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In-Built Permanent Disability Waiver5 (Free)

In case the life assured develops a permanent disability due to an accident during the policy term, that adversely affects his/her daily life, all future premiums are waived off while life cover continues as is. This benefit comes in-built with your policy without any extra cost to you.

W/II/2872/2020-21

Illustration

Priya is a 32 year old, healthy female who works as a marketing consultant. She has taken a home loan. Realizing the need for protection in her fast-paced life, Priya wants to be well prepared for unforseen circumstances in life. ICICI Pru iProtect Smart - Life and Health option is the perfect solution for her needs.

ICICI Pru iProtect Smart,

Annual Premium 13,684 for Life Cover 50 lakh with policy term 30 years and regular premium payment Critical Illness Benefit of 20 lakh

Get Double Benefit
Age 30 32 age Premium payment term Age 45 40 years diagnosed with
a Critical Illness
Priya’s unfortunate
Death
Rupee . . . . . . . . . . . . . . . . . . . . .
Nominee gets
30 lakh
lump sum death benefit
and the policy terminates
maturity-amount
20 lakh is paid to her as a lump sum & the policy continues with the Sum Assured reduced to 30 lakh

Anil is a 35 year old healthy male who works as a project manager in an IT company. Anil wants to ensure that his wife, three year old son and retired father live a comfortable life in case of his untimely death. He chooses ICICI iProtect Smart - Life option with Death Benefit of 1 crore with Income Payout option which will ensure an adequate monthly income for his family.

ICICI Pru iProtect Smart,

Annual Premium 14,395 for Life Cover 1 Crore with policy term 30 years & regular premium payment

Get Double Benefit
Age 30 35 age Premium payment term Anil's unfortunate death
Rupee . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Nominee gets
83,333
as a monthly
income for 10 years
maturity-amount
W/II/3173/2020-21
Term Insurance Calculator FAQs
You can also browse topic below to find what you are looking for
Term insurance
Optional benefits
Premium payment
Payout methods
Nominee
Policy related
Application form
Tax
MWP act
For women
Smokers
Claims
Term insurance is a simple form of life insurance. It provides financial protection to your family at the most affordable rates. With term insurance, you can get a large 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 during the term of the policy.
The earlier you buy a term plan, the better it is. In today’s world, where lifestyle related illnesses are becoming more and more common each day, it’s always better to be secure beforehand. Also, term insurance premiums increase with age. For example, for ₹ 1 Crore cover amount, premiums for a 30-year-old, non-smoker male would amount to ₹ 885 p.m. for a 30-year policy duration of ICICI Pru iProtect Smart - Life option with regular pay and regular income payout option. The premium increases to ₹ 1,784 p.m. if the policy is bought at age 40. It is important to note that the premiums get fixed at the age you purchase the policy, for the entire policy duration. Buying early can thus help you lock lower premiums for the entire policy term. There are also lower chances of your policy getting rejected if you buy earlier.
ICICI Prudential Life Insurance is an old and trusted life insurance company in India. The company has a high claim settlement ratio of 97.8% (FY 2019-20)~ and has paid ₹ 195.28 bn$ in claims settled (since inception up to Mar 31, 2020). ICICI Pru’s term plan comes with an easy and hassle-free claims settlement process. With ClaimForSure, you can now get your claims settled in just one day*!
ICICI Pru’s term plan is highly affordable, with a ₹ 1 Crore cover starting at just ₹ 490 p.m.2! The plan has in-built benefits for terminal illness and permanent disability. You get 100% payout in case of terminal illness3 and waiver of premium in case of permanent disability5 while your policy continues as is. You are also provided with the option to get health coverage for 34 critical illnesses## up to ₹ 1 Crore and accidental death9 coverage up to ₹ 2 Crore. ICICI Pru’s term plan also provides you with the option to increase your life cover12 at important milestones like marriage and childbirth. All this while also saving up to ₹ 54,600^ on your yearly taxes.
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. The plans can be accessed via mobile internet too.
  2. Better control – Buying a term policy 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 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).
You are required to upload a clear copy of the following KYC documents in jpeg/png or pdf format:
  1. One recent photograph (mandatory)
  2. PAN card (mandatory)
  3. Income proof (last 3 months’ salary slip/ last 3 years’ ITR/ Form-16/ last 6 months’ bank statement)
  4. Official ID proof (any one of - passport/driving license/voter’s ID/Aadhar card)
Once your application is filled, premium is paid, all KYC documents are submitted and medical check is done (if required), the policy will be issued within 72 hours\. You can use the Application Tracker on our website to check the status of your policy. Our issuance experts are also always available to help you with the issuance 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.
Yes, all claims arising due to corona virus COVID 198 will be covered and processed as per the terms and conditions of the policy.
We have a 3-step claims process:
Step 1: Claim Reporting
You can report your claims online, at our branches, central office, via SMS, e-mail or through our call center as per your convenience. However, claims reported online, through SMS or e-mail will not be considered as intimation. Physical documents will be required to be sent to the nearest branch to start the process. The documents needed are:
  • - Claimant Statement Form (Death claims / Health claims)
  • - Death Certificate (for Death Claims)
  • - Medical/Hospitalization Documents
  • - Claimant's current address proof, photo identity proof and cancelled cheque/ Copy of bank passbook (for Death Claims)
Step 2: Claim Processing
Our dedicated ClaimCare team will assess your claim and inform you in case any more documents need to be submitted. Post receiving all the necessary documents, we will process your claim request.
Step 3: Claim Settlement
Once your claim is intimated and we receive all the relevant documents, we will settle your claim.
For more detailed information on Claims, visit https://www.iciciprulife.com/insurance-claim.html
With ClaimForSure, we provide guaranteed death claim settlement within one day*, making sure your family receives financial support when it needs it the most. In case there is any delay beyond one working day, your nominee will be paid interest* on the claim amount for every day of delay.
To avail ClaimForSure,
  • - Policies have to be active for a continuous 3 years with all due premiums paid
  • - All mandatory claim documents* should be submitted at the branch before 3 p.m. on a working day
  • - Total claim amount of all policies should be less than or equal to ₹ 1.5 Crore
  • - Claim must be a non-investigative case
Otherwise for all other claims, our average turn-around time for settling a claim as of FY 19-20 is 1.59 days>, with 90% of claims being settled within 3 days.
Term insurance is a simple form of life insurance. It provides financial protection to your family at the most affordable rates. With term insurance, you can get a large 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 during the term of the policy.
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 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 policy 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 life cover starting at just ₹ 490 per month2, 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 person insured 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 policy 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.
The earlier you buy a term policy, the better it is. In today’s world, where lifestyle related illnesses are becoming more and more common each day, it’s always better to be secure beforehand. Also, term insurance premiums increase with age. For example, for ₹ 1 Crore cover amount, premiums for a 30-year-old, non-smoker male would amount to ₹ 885 p.m. for a 30-year policy duration of ICICI Pru iProtect Smart - Life option with regular pay and regular income payout option. The premium increases to ₹ 1,784 p.m. if the policy is bought at age 40. It is important to note that the premiums get fixed at the age you purchase the policy, for the entire policy duration. Buying early can thus help you lock lower premiums for the entire policy term. There are also lower chances of your policy getting rejected if you buy earlier.
Yes, the minimum and maximum age for buying a term policy are 18 and 60 years respectively.
There are various factors you need to consider when selecting the best term policy. 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 ₹ 1529.68 bn $ (as on Mar 31, 2020).
  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 policy, you can get your claim settled within 1 day*. The company has a claim settlement ratio of 97.8% (FY 2019-20)~ and has paid ₹ 195.28 bn$ in claims (since inception up to Mar 31, 2020). 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 Pru’s term policy 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 policy online:
  1. Ease and convenience - You can complete your purchase in just a few minutes anytime anywhere. The plans can be accessed via mobile internet too.
  2. Better control – Buying a term policy 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 5% discount‘ when you purchase our term policy 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).
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 life cover you need depends on your current annual income. We recommend getting a life cover that is at least 10-15 times your annual income to provide for a safe future for your dependents. You can opt for monthly premium payment option instead of a yearly premium commitment too. However, it is important to have a sufficient life cover so that your family’s financial security is not compromised. To get a more accurate measure of how much life cover to get, visit our Human Life Value calculator.
You should get a policy till your retirement age. But financial liabilities can continue beyond retirement too. ICICI Pru’s term policy 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 Pru’s term policy comes with two in-built benefits:
  1. Terminal Illness Benefit: You receive 100% claim payout in case you contract a terminal illness3
  2. Permanent Disability Benefit: All your future premiums are waived off while your policy continues if you get a permanent disability5
Refer to our brochure to know more about these benefits.
Our ICICI Pru iProtect Smart offers life 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.
There are two additional benefit options available with ICICI Pru’s term plan:
  1. Critical Illness Cover: This is an optional benefit the customer can purchase wherein he/she receives a pre-determined claim amount in case of diagnosis of any of 34 specified critical illnesses##. No bills or proof of expenditure4 is required. There is also no restriction of network hospitals. You can use the claim amount to get a treatment 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.
  2. Accidental Death Cover9: This is another optional benefit wherein an additional cover is payable in case of death due to accident. The maximum cover that can be availed is ₹ 2 Crore.
If you are ever diagnosed with a critical illness, it can not only affect you physically and emotionally but also financially. A critical illness can cause you to leave your job temporarily or permanently and lose out on your income.
ICICI Pru iProtect Smart offers the optional benefit of covering yourself against 34 Critical Illnesses## such as cancer, heart attack and kidney failure by paying just a little extra premium. The best part about this benefit is that you receive the full claim payout on the first diagnosis of any of the covered 34 Critical Illnesses. No hospital bills are needed, nor is there any restriction of getting treated at network hospitals. This claim amount can not only be used for a treatment of your choice but also safeguard your family against the loss of income arising out of the illness.
Did You Know: 33%$$ of our online customers purchase the optional critical illness benefit with their policy.
The minimum Critical Illness benefit you can choose is ₹ 1 Lakh and the maximum benefit is ₹ 1 Crore. The cost of medical treatment is continuously rising. So it is recommended to have a critical illness cover that is at least 2 times of your current annual income.
The Critical Illness benefit amount is payable immediately if and when you are diagnosed for the first time with any of the 34 critical illnesses## covered by ICICI Pru iProtect Smart. A copy of the diagnosis report is required to initiate the critical illness claim and it is payable basis fulfillment of definition of the diagnosed critical illness.
This benefit is accelerated and not additional, which means the policy will continue with the Death Benefit reduced by the extent of the critical illness benefit paid.
Refer to our brochure for more details.
The policy continues with the life cover reduced by the amount paid out for the critical illness claimed. The premiums to be paid are also accordingly reduced.
Accidental Death Cover is an optional benefit available under ICICI Pru iProtect Smart which provides the nominee with a higher payout in case of death of the person insured due to an accident. The maximum benefit that can be taken in this case is ₹ 2 Crore. Accidental Death Benefit is only applicable up to age of 80. You can chose to add this benefit to your policy anytime during the term of your policy.
An accidental death can have an involvement of additional costs. It is therefore wise to opt for additional cover in case of death due to accident so that your family is adequately protected in your absence.
Did you know: 35%$$ of our customers purchase the optional accidental death benefit along with their policies.
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. We recommend you get a minimum of ₹ 50 Lakh accidental death cover to make sure your family is financially protected in case you die in an accident. Please note that Accidental Death benefit is offered at flat rates, e.g. a ₹ 50 Lakh Accidental Death benefit comes for just ₹ 287 p.a., whatever your profile is.
The premium amount is decided by this term insurance calculator based on your age, gender and smoking status, along with the life cover amount, policy term, payment mode and payout option selected by you. Premiums are calculated at the time of purchase and remain fixed throughout the policy term.
No, the premium for the entire policy term is fixed at the time you purchase the policy. The tax component (GST) may change as per Government of India regulations or applicable tax laws.
Yes, as a smoker you present a greater risk of death than a non-smoker. Hence, premium rates for smokers are higher than that of non-smokers.
We have 3 payment terms available:
  • Regular pay where you pay for the entire policy term
  • Limited pay where you pay for only 5 years, 7 years, 10 years, till the age of 60 years and policy term – 5 years
  • Single pay where you pay the entire premium in one go (Note – max policy term available with single pay option is 20 years)
Limited Pay is a great option wherein the customer pays premium for a limited period while enjoying the benefits of the plan for the entire policy term. This lets you free from the burden of paying premiums early on while keeping your family secured for a long period of time. While the premiums to be paid are slightly higher than regular pay; with the limited pay option, you can end up saving up to 65%** on total premiums paid.
Although you can pay for the entire policy term, we suggest that you pay your premiums till the time you are earning. If you are young, it would be wise to go for a 5, 7 or 10 year limited pay and get done with paying premiums before more responsibilities get added on to your life. If you are 35 or above, you can choose limited pay till 60 years, i.e. retirement.
You can choose to pay the premiums monthly, half-yearly or yearly. Paying yearly helps you save 2.5% on your premium payments7.
Yes, you can.
The various payment methods available for online payment of premiums include credit card, debit card, net banking, UPI, Google Pay, Amazon Pay and other popular payment wallets.
A grace period for payment of premium of 15 days applies for monthly premium payment mode and 30 days for other modes of premium payment. If the premium is not paid within the grace period, the policy shall lapse and cover shall cease.
You can choose from four flexible payout options:
  1. Lump sum – entire claim payout at once
  2. Monthly income –payout in equal monthly instalments
  3. Increasing income – claim payout in monthly instalments that increase by 10% every year
  4. Lump sum + Income – one large payout at once and remaining in monthly instalments
Under lump sum payout, the entire life cover amount is paid to your nominee in one go. This is the most preferred option for our online buyers and is especially helpful if you have a large outstanding loan to be paid off like a home loan.
Under the monthly income plan, 10% of the benefit amount is payable to your nominee every year for 10 years. This is paid in equal monthly instalments, in advance, at the rate of 0.83333% of the total benefit amount. This is the most economical payout option. You can choose this option if you want your family to receive a regular monthly income.
Under the increasing monthly income plan, the benefit amount is payable in monthly instalments for 10 years starting with 10% of the benefit amount per annum in the first year. The income amount will increase by 10% per annum simple interest every year thereafter. This payout option gives 45% more life cover. For example, if your life cover is ₹ 1 Ccrore, 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 for 10 years. This way, at the end of the 10th year, the total life cover received will be ₹ 1.45 Crore. This option is useful if you would like to account for inflation and the rising cost of living.
Under the new lump sum plus income option, you have the flexibility to split the life cover amount that you want your nominee to receive as lump sum and the remaining life cover will be paid in equal monthly payments for 10 years. For example, if your life cover is ₹ 1 Crore, you can choose to give ₹ 50 Lakh as lump sum and the remaining ₹ 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. This option will help your family pay off a small loan while also have a regular income.
Yes, you can change the nominee at any time during the policy term by informing the company. You can also add multiple nominees.
The details needed of the nominee are their full name, gender, date of birth and relationship with life assured. Your nominee can be your spouse, children, parents, siblings or their spouses, uncles, aunts, nieces, nephews, or even your grandparents or grandchildren.
Make sure you tell your nominee about their nomination in this plan and share all the details of the plan with them including the cover amount, policy term and payout method chosen by you. You should also tell them if you have opted for any riders. Your nominee should know where the policy kit is. They should understand the claims process properly and know what all documents are needed to make a claim.
If your nominee passes away before you, you will have to appoint some other person as your nominee. If the nominee and policy holder pass away together, then the claim payout will be made to the next legal heir.
Once your application is filled, premium is paid, all KYC documents are submitted and medical check is done (if required), the policy will be issued within 72 hours\. You can use the Application Tracker on our website to check the status of your policy.
You will be informed if you need to get a medical check-up done based on the health details submitted by you. You can fix an appointment for the check-up on our website. The cost of the medical tests is borne by the company.
Home/Office visit: If you have selected this option, you can choose the date and time of examination as per your convenience at your home or office. The tests are completed in about 15-20 minutes. These tests comprise of:
  • Blood Test
  • Electrocardiogram (ECG)
Medical center visit: You can choose the date, time & center of examination as per your convenience. These tests are completed within an hour and comprise of:
  • Blood Test
  • Electrocardiogram (ECG)
  • Tread mill test
  • Chest X-ray
  • Sonography
After issuance, you will receive the policy documents on your registered email ID and mobile number. The physical copy of policy certificate will be also sent to your communication address.
Yes. ICICI Pru term policy comes with Life Stage benefit12 wherein you have the option to increase your cover at key milestones like after marriage (50% increase) and first and second childbirth (25% increase in each case) without any medicals. Additional premium will be calculated based on the increased life cover and remaining policy term as per your age at the time of each such increase.
No, the policy term cannot be changed once the policy is issued.
A grace period for payment of premium of 15 days applies for monthly premium payment mode and 30 days for other modes of premium payment. If the premium is not paid within the grace period, the policy shall lapse and cover will cease.
ICICI Pru online term policy comes with a 30 day free look up period. If you are not satisfied with your policy, you can return it back to us within 30 days of purchase and get your money back.
Once you buy the policy, you stay covered whether you are in India or abroad.
The online application process to buy this plan is very simple and can be completed in a few minutes. You just need to keep your PAN card, an address proof (Aadhar card/Passport/Driving License/Voter’s ID) and a recent photograph ready and can complete the process anytime anywhere. The application form consists of three sections.
  1. Personal Information: Here, you need to enter your full name, marital status, highest education level, occupation, PAN number, and your communication address. In case you are salaried, you will be required to give details of the organization you work for – the name and type of organization. In addition to this, you will also be asked to enter details of your nominee – their full name, gender, date of birth and relationship with life assured. You will be required to declare any other life insurance policies you might have.
  2. Health Details: Here, you need to enter your height, weight and details of pre-existing health conditions, if any. Fill in this page very carefully and to the best of your knowledge to prevent rejection of claim due to incorrect information later.
  3. Documents Upload: You can choose to upload documents now for faster issuance or proceed to payment directly and upload the documents later. Documents needed are your photograph, PAN card, Address Proof (Aadhar card/Passport/Driving License/Voter’s ID) and Income Proof (last 3 months’ salary slips/ last 3 years’ ITR/ last 6 months’ bank statement/ Form 16). Accept the declaration that all the information submitted by you is correct and move to the payments page.
Once you fill the form, you can then choose a payment mode as per your convenience. The various payment methods available include credit card, debit card, net banking, UPI, Google Pay, Amazon Pay and other popular payment wallets.
In case you are required to undergo a medical examination based on the health details submitted by you, you will be asked to enter your pin code. Basis the pin code and type of tests required, you will be entitled to either a home visit medical test or one at a nearby medical center. You can choose the date and time of examination as per your convenience.
You can track the status of your application using our Application Tracker.
Yes you can. Our application form is mobile friendly and can be filled anytime anywhere in just a few minutes!
You are required to upload a clear copy of the following KYC documents in jpeg or pdf form:
  • i. One recent photograph
  • ii. PAN card (mandatory)
  • iii. Income proof (last 3 months’ salary slip/ last 3 years’ ITR/ Form-16/ last 6 months’ bank statement)
  • iv. Official ID proof (passport/driving license/voter’s ID/Aadhar card)
If you are salaried then please share your annual salary as income. If you are self-employed then please share the average annual income of last 3 years as per the filed ITR.
In case your communication address is different from your permanent address, there are separate fields to mention both of them. Make sure you are available at your communication address as this is where your policy documents will be sent after issuance.
You can check the status of your application by going to the Application Tracker.
You can cancel the policy application by submitting a request at our call center number 1860 267 9997
The various payment methods available to make your premium payment include credit card, debit card, net banking, UPI, Google Pay, Amazon Pay and other popular payment wallets.
You can save tax up to ₹ 54,600^ with a term policy. Premium paid and benefits received are eligible for tax benefits U/S. 80C and 10(10D).
You can download the tax certificate/premium paid certificate from the website as soon as you make the payment.
The Married Women’s Property (MWP) Act is useful for self-employed people. As a business-owner, you deal with various vendors, lenders and creditors on an everyday basis. In your absence, your insurance proceeds may be taken by people who you owe money, or even your relatives. Availing a term insurance plan under the Married Women's Property Act 1874 (MWP Act) helps in protecting your family's financial interests in your absence. Once a policy is availed under the MWP Act, it may not be attached by courts for repayment of your debts. Only your wife and children\ will be entitled to the Sum Assured in the event of your demise.
Yes, if you are self-employed, you can buy ICICI Pru iProtect Smart under MWP act and your wife and children can be beneficiaries under this act.
You can nominate your wife and/or children as beneficiaries under MWP act.
ICICI Pru iProtect Smart is available at special rates for women, with up to 17.5% lower premiums! The optional Critical Illness benefit## also covers women related cancers, breast cancer and cervical cancer.
Yes, this policy can be purchased for housewives for a life cover amount up to ₹ 50 Lakh. Those who work for you round the clock also deserve a term insurance protection.
While pregnant women can purchase a term policy, the final decision of whether to issue a policy or not will depend on the underwriting guidelines.
Yes, you can purchase term insurance if you are a smoker.
If you have consumed tobacco in any form in the last 12 months, you need to declare yourself as a smoker.
If you have consumed tobacco in any form in the last 12 months, you need to declare yourself as a smoker.
Your policy will not be affected if you start consuming alcohol or tobacco after policy issuance.
Yes, all claims arising due to corona virus COVID 19 will be covered and processed as per the terms and conditions of the policy.
The Claim Settlement Ratio tells you how many claims for life insurance have been paid out as a proportion of the total number of claims made. The higher this ratio is, the better. A higher ratio means there is a greater chance of your claim being settled. ICICI Pru Life has a high claim settlement ratio~ of 97.8%.Along with having a high claims ratio, ICICI Pru Life has also paid ₹ 195.28 bn$ in claims, a high number in the industry.
We have a 3-step claims process:
Step 1: Claim Reporting
You can report your claims online, at our branches, central office, via SMS, e-mail or through our call center as per your convenience. However, claims reported online, through SMS or e-mail will not be considered as intimation. Physical documents will be required to be sent to the nearest branch to start the process. The documents needed are:
  • - Claimant Statement Form (Death claims / Health claims)
  • - Death Certificate (for Death Claims)
  • - Medical/Hospitalization Documents
  • - Claimant's current address proof, photo identity proof and cancelled cheque / Copy of bank passbook (for Death Claims)
Step 2: Claim Processing
Our dedicated ClaimCare team will assess your claim and inform you in case any more documents need to be submitted. Post receiving all the necessary documents, we will process your claim request.
Step 3: Claim Settlement
Once your claim is intimated and we receive all the relevant documents, we will settle your claim.
For more detailed information on Claims, visit https://www.iciciprulife.com/insurance-claim.html.
With ClaimForSure, we provide guaranteed death claim settlement within one day*, making sure your family receives financial support when it needs it the most. In case there is any delay beyond one working day, your nominee will be paid interest* on the claim amount for every day of delay.
To avail ClaimForSure,
  • - Policies have to be active for a continuous 3 years with all due premiums paid
  • - All mandatory claim documents* should be submitted at the branch before 3 p.m. on a working day
  • - Total claim amount of all policies should be less than or equal to ₹ 1.5 Crore
  • - Claim must be a non-investigative case
Our average turn-around time for settling a claim as of FY 19-20 1.59 days>, with 90% of claims being settled within 3 days.
It is possible for a claim to be rejected if 'non-disclosure' or 'misstatement' of facts is discovered during an investigation. When a fact that affects the policy issuance decision is not disclosed in the proposal, it is termed as 'non-disclosure'. Similarly, withholding information or providing incorrect information while answering questions in the proposal form^^ is termed as, 'misstatement'.
For example, when an applicant is suffering from kidney related ailment and does not inform the insurer about the same in the proposal form, it is termed as non-disclosure. Similarly, when an applicant overstates his or her income, then it is called a misstatement
Only claims resulting from suicide are not payable within the first year of policy. All other claims are payable.
Yes, the policy covers deaths all over the world.
W/II/2940/2020-21

TERM INSURANCE CALCULATOR


(Choose 'YES' if you have smoked or chewed tobacco in last 12 months)
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Key Benefits of our Term Insurance Plan

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34 Critical Illnesses Benefit Option##

Get covered against 34 specified critical illnesses such as cancer and heart attack. Claim paid out on first diagnosis, no hospital bills needed. Policy will continue with the life cover reduced by the extent of the critical illness benefit paid.

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Accidental Death Cover Option9

Get additional life cover (up to ₹ 2 crore) in case of death due to an accident. Death due to an accident often involves extra costs and this will ensure that your family is sufficiently secured in case of such an unfortunate incident.

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Tax BeneTax Benefits upto ₹ 54,600^

All premiums paid and benefits received are eligible for tax benefits under Sections 80D,80C and 10(10D).

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One Day Claim Settlement*

Ensure quick and hassle-free claims service when your family needs it the most. We guarantee one day settlement for all death claims, with interest payable for every day of delay beyond one working day.

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In-Built Terminal Illness Benefit3 (Free)

Terminal illnesses are those that would likely lead to death within 6 months of being detected (e.g. AIDS). They are not only life threatening but also spell financial ruin. We guarantee full claim pay out immediately in case the life assured is diagnosed with a terminal illness. This benefit comes in-built with the policy without any extra cost to you.

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In-Built Permanent Disability Waiver5 (Free)

In case the life assured develops a permanent disability due to an accident during the policy term, that adversely affects his/her daily life, all future premiums are waived off while life cover continues as is. This benefit comes in-built with your policy without any extra cost to you.

W/II/2872/2020-21

Illustration

Priya is a 32 year old, healthy female who works as a marketing consultant. She has taken a home loan. Realizing the need for protection in her fast-paced life, Priya wants to be well prepared for unforseen
circumstances in life. ICICI Pru iProtect Smart - Life and Health option is the perfect solution for her needs.

ICICI Pru iProtect Smart,

Annual Premium 13,684 for Life Cover 50 lakh with policy term 30 years and regular premium payment Critical Illness Benefit of 20 lakh

Get Double Benefit
Age 30 Priya’s unfortunate Death Age 4532 Age
  1. 1
  2. 2
  3. 3
  4. 4
  5. 5
Premium Payment term
40 years diagnosed with
a Critical Illness
maturity-amount
Nominee gets
30 lakh
lump sum death benefit
and the policy terminates
20 lakh is paid to her as a lump sum & the policy continues with the Sum Assured reduced to 30 lakh

Anil is a 35 year old healthy male who works as a project manager in an IT company. Anil wants to ensure that his wife, three year old son and retired father live a comfortable life in case of his untimely death. He chooses ICICI iProtect Smart - Life option with Death Benefit of 1 crore with Income Payout option which will ensure an adequate monthly income for his family.

ICICI Pru iProtect Smart,

Annual Premium 14,395 for Life Cover 1 Crore with policy term 30 years & regular premium payment

Get Double Benefit
Age 30 Anil’s unfortunate Death Age 45 32 Age
  1. 1
  2. 2
  3. 3
  4. 4
  5. 5
Premium Payment term
maturity-amount
Nominee gets
83,333
as a monthly
income for 10 years
W/II/3173/2020-21
Term Insurance Calculator FAQs
You can also browse topic below to find what you are looking for
Term insurance is a simple form of life insurance. It provides financial protection to your family at the most affordable rates. With term insurance, you can get a large 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 during the term of the policy.
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 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 policy 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 life cover starting at just ₹ 490 per month2, 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 person insured 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 policy 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.
The earlier you buy a term policy, the better it is. In today’s world, where lifestyle related illnesses are becoming more and more common each day, it’s always better to be secure beforehand. Also, term insurance premiums increase with age. For example, for ₹ 1 Crore cover amount, premiums for a 30-year-old, non-smoker male would amount to ₹ 885 p.m. for a 30-year policy duration of ICICI Pru iProtect Smart - Life option with regular pay and regular income payout option. The premium increases to ₹ 1,784 p.m. if the policy is bought at age 40. It is important to note that the premiums get fixed at the age you purchase the policy, for the entire policy duration. Buying early can thus help you lock lower premiums for the entire policy term. There are also lower chances of your policy getting rejected if you buy earlier.
Yes, the minimum and maximum age for buying a term policy are 18 and 60 years respectively.
There are various factors you need to consider when selecting the best term policy. 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 ₹ 1529.68 bn$ (as on Mar 31, 2020).
  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 Pru's term policy, you can get your claim settled within 1 day*. The company has a claim settlement ratio of 97.8% (FY 2019-20)~ and has paid ₹ 195.28 bn$ in claims (since inception up to Mar 31, 2020). 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 Pru's term policy 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 policy online:
  1. Ease and convenience - You can complete your purchase in just a few minutes anytime anywhere. The plans can be accessed via mobile internet too.
  2. Better control – Buying a term policy 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 5% discount‘ when you purchase our term policy 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).
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 life cover you need depends on your current annual income. We recommend getting a life cover that is at least 10-15 times your annual income to provide for a safe future for your dependents. You can opt for monthly premium payment option instead of a yearly premium commitment too. However, it is important to have a sufficient life cover so that your family’s financial security is not compromised. To get a more accurate measure of how much life cover to get, visit our Human Life Value calculator.
You should get a policy till your retirement age. But financial liabilities can continue beyond retirement too. ICICI Pru’s term policy 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 Pru’s term policy comes with two in-built benefits:
  1. Terminal Illness Benefit: You receive 100% claim payout in case you contract a terminal illness3
  2. Permanent Disability Benefit: All your future premiums are waived off while your policy continues if you get a permanent disability5
Refer to our brochure to know more about these benefits.
Our ICICI Pru iProtect Smart offers life 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.
There are two additional benefit options available with ICICI Pru’s term plan:
  1. Critical Illness Cover: This is an optional benefit the customer can purchase wherein he/she receives a pre-determined claim amount in case of diagnosis of any of 34 specified critical illnesses##. No bills or proof of expenditure4 is required. There is also no restriction of network hospitals. You can use the claim amount to get a treatment 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.
  2. Accidental Death Cover9: This is another optional benefit wherein an additional cover is payable in case of death due to accident. The maximum cover that can be availed is ₹ 2 Crore.
If you are ever diagnosed with a critical illness, it can not only affect you physically and emotionally but also financially. A critical illness can cause you to leave your job temporarily or permanently and lose out on your income.
ICICI Pru iProtect Smart offers the optional benefit of covering yourself against 34 Critical Illnesses## such as cancer, heart attack and kidney failure by paying just a little extra premium. The best part about this benefit is that you receive the full claim payout on the first diagnosis of any of the covered 34 Critical Illnesses. No hospital bills are needed, nor is there any restriction of getting treated at network hospitals. This claim amount can not only be used for a treatment of your choice but also safeguard your family against the loss of income arising out of the illness.
Did You Know: 33%$$ of our online customers purchase the optional critical illness benefit with their policy.
The minimum Critical Illness benefit you can choose is ₹ 1 Lakh and the maximum benefit is ₹ 1 Crore. The cost of medical treatment is continuously rising. So it is recommended to have a critical illness cover that is at least 2 times of your current annual income.
The Critical Illness benefit amount is payable immediately if and when you are diagnosed for the first time with any of the 34 critical illnesses## covered by ICICI Pru iProtect Smart. A copy of the diagnosis report is required to initiate the critical illness claim and it is payable basis fulfillment of definition of the diagnosed critical illness.
This benefit is accelerated and not additional, which means the policy will continue with the Death Benefit reduced by the extent of the critical illness benefit paid.
Refer to our brochure for more details.
The policy continues with the life cover reduced by the amount paid out for the critical illness claimed. The premiums to be paid are also accordingly reduced.
Accidental Death Cover is an optional benefit available under ICICI Pru iProtect Smart which provides the nominee with a higher payout in case of death of the person insured due to an accident. The maximum benefit that can be taken in this case is ₹ 2 Crore. Accidental Death Benefit is only applicable up to age of 80. You can chose to add this benefit to your policy anytime during the term of your policy.
An accidental death can have an involvement of additional costs. It is therefore wise to opt for additional cover in case of death due to accident so that your family is adequately protected in your absence.
Did you know: 35%$$ of our customers purchase the optional accidental death benefit along with their policies.
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. We recommend you get a minimum of ₹ 50 Lakh accidental death cover to make sure your family is financially protected in case you die in an accident. Please note that Accidental Death benefit is offered at flat rates, e.g. a ₹ 50 Lakh Accidental Death benefit comes for just ₹ 287 p.a., whatever your profile is.
The premium amount is decided by this term insurance calculator based on your age, gender and smoking status, along with the life cover amount, policy term, payment mode and payout option selected by you. Premiums are calculated at the time of purchase and remain fixed throughout the policy term.
No, the premium for the entire policy term is fixed at the time you purchase the policy. The tax component (GST) may change as per Government of India regulations or applicable tax laws.
Yes, as a smoker you present a greater risk of death than a non-smoker. Hence, premium rates for smokers are higher than that of non-smokers.
We have 3 payment terms available:
  • Regular pay where you pay for the entire policy term
  • Limited pay where you pay for only 5 years, 7 years, 10 years, till the age of 60 years and policy term – 5 years
  • Single pay where you pay the entire premium in one go (Note – max policy term available with single pay option is 20 years)
Limited Pay is a great option wherein the customer pays premium for a limited period while enjoying the benefits of the plan for the entire policy term. This lets you free from the burden of paying premiums early on while keeping your family secured for a long period of time. While the premiums to be paid are slightly higher than regular pay; with the limited pay option, you can end up saving up to 65%** on total premiums paid.
Although you can pay for the entire policy term, we suggest that you pay your premiums till the time you are earning. If you are young, it would be wise to go for a 5, 7 or 10 year limited pay and get done with paying premiums before more responsibilities get added on to your life. If you are 35 or above, you can choose limited pay till 60 years, i.e. retirement.
You can choose to pay the premiums monthly, half-yearly or yearly. Paying yearly helps you save 2.5% on your premium payments7.
Yes, you can.
The various payment methods available for online payment of premiums include credit card, debit card, net banking, UPI, Google Pay, Amazon Pay and other popular payment wallets.
A grace period for payment of premium of 15 days applies for monthly premium payment mode and 30 days for other modes of premium payment. If the premium is not paid within the grace period, the policy shall lapse and cover shall cease.
You can choose from four flexible payout options:
  1. Lump sum – entire claim payout at once
  2. Monthly income –payout in equal monthly instalments
  3. Increasing income – claim payout in monthly instalments that increase by 10% every year
  4. Lump sum + Income – one large payout at once and remaining in monthly instalments
Under lump sum payout, the entire life cover amount is paid to your nominee in one go. This is the most preferred option for our online buyers and is especially helpful if you have a large outstanding loan to be paid off like a home loan.
Under the monthly income plan, 10% of the benefit amount is payable to your nominee every year for 10 years. This is paid in equal monthly instalments, in advance, at the rate of 0.83333% of the total benefit amount. This is the most economical payout option. You can choose this option if you want your family to receive a regular monthly income.
Under the increasing monthly income plan, the benefit amount is payable in monthly instalments for 10 years starting with 10% of the benefit amount per annum in the first year. The income amount will increase by 10% per annum simple interest every year thereafter. This payout option gives 45% more life cover. For example, if your life cover is ₹ 1 Ccrore, 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 for 10 years. This way, at the end of the 10th year, the total life cover received will be ₹ 1.45 Crore. This option is useful if you would like to account for inflation and the rising cost of living.
Under the new lump sum plus income option, you have the flexibility to split the life cover amount that you want your nominee to receive as lump sum and the remaining life cover will be paid in equal monthly payments for 10 years. For example, if your life cover is ₹ 1 Crore, you can choose to give ₹ 50 Lakh as lump sum and the remaining ₹ 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. This option will help your family pay off a small loan while also have a regular income.
Yes, you can change the nominee at any time during the policy term by informing the company. You can also add multiple nominees.
The details needed of the nominee are their full name, gender, date of birth and relationship with life assured. Your nominee can be your spouse, children, parents, siblings or their spouses, uncles, aunts, nieces, nephews, or even your grandparents or grandchildren.
Make sure you tell your nominee about their nomination in this plan and share all the details of the plan with them including the cover amount, policy term and payout method chosen by you. You should also tell them if you have opted for any riders. Your nominee should know where the policy kit is. They should understand the claims process properly and know what all documents are needed to make a claim.
If your nominee passes away before you, you will have to appoint some other person as your nominee. If the nominee and policy holder pass away together, then the claim payout will be made to the next legal heir.
Once your application is filled, premium is paid, all KYC documents are submitted and medical check is done (if required), the policy will be issued within 72 hours\. You can use the Application Tracker on our website to check the status of your policy.
You will be informed if you need to get a medical check-up done based on the health details submitted by you. You can fix an appointment for the check-up on our website. The cost of the medical tests is borne by the company.
Home/Office visit: If you have selected this option, you can choose the date and time of examination as per your convenience at your home or office. The tests are completed in about 15-20 minutes. These tests comprise of:
  • Blood Test
  • Electrocardiogram (ECG)
Medical center visit: You can choose the date, time & center of examination as per your convenience. These tests are completed within an hour and comprise of:
  • Blood Test
  • Electrocardiogram (ECG)
  • Tread mill test
  • Chest X-ray
  • Sonography
After issuance, you will receive the policy documents on your registered email ID and mobile number. The physical copy of policy certificate will be also sent to your communication address.
Yes. ICICI Pru term policy comes with Life Stage benefit12 wherein you have the option to increase your cover at key milestones like after marriage (50% increase) and first and second childbirth (25% increase in each case) without any medicals. Additional premium will be calculated based on the increased life cover and remaining policy term as per your age at the time of each such increase.
No, the policy term cannot be changed once the policy is issued.
A grace period for payment of premium of 15 days applies for monthly premium payment mode and 30 days for other modes of premium payment. If the premium is not paid within the grace period, the policy shall lapse and cover will cease.
ICICI Pru online term policy comes with a 30 day free look up period. If you are not satisfied with your policy, you can return it back to us within 30 days of purchase and get your money back.
Once you buy the policy, you stay covered whether you are in India or abroad.
The online application process to buy this plan is very simple and can be completed in a few minutes. You just need to keep your PAN card, an address proof (Aadhar card/Passport/Driving License/Voter’s ID) and a recent photograph ready and can complete the process anytime anywhere. The application form consists of three sections.
  1. Personal Information: Here, you need to enter your full name, marital status, highest education level, occupation, PAN number, and your communication address. In case you are salaried, you will be required to give details of the organization you work for – the name and type of organization. In addition to this, you will also be asked to enter details of your nominee – their full name, gender, date of birth and relationship with life assured. You will be required to declare any other life insurance policies you might have.
  2. Health Details: Here, you need to enter your height, weight and details of pre-existing health conditions, if any. Fill in this page very carefully and to the best of your knowledge to prevent rejection of claim due to incorrect information later.
  3. Documents Upload: You can choose to upload documents now for faster issuance or proceed to payment directly and upload the documents later. Documents needed are your photograph, PAN card, Address Proof (Aadhar card/Passport/Driving License/Voter’s ID) and Income Proof (last 3 months’ salary slips/ last 3 years’ ITR/ last 6 months’ bank statement/ Form 16). Accept the declaration that all the information submitted by you is correct and move to the payments page.
Once you fill the form, you can then choose a payment mode as per your convenience. The various payment methods available include credit card, debit card, net banking, UPI, Google Pay, Amazon Pay and other popular payment wallets.
In case you are required to undergo a medical examination based on the health details submitted by you, you will be asked to enter your pin code. Basis the pin code and type of tests required, you will be entitled to either a home visit medical test or one at a nearby medical center. You can choose the date and time of examination as per your convenience.
You can track the status of your application using our Application Tracker.
Yes you can. Our application form is mobile friendly and can be filled anytime anywhere in just a few minutes!
You are required to upload a clear copy of the following KYC documents in jpeg or pdf form:
  • i. One recent photograph
  • ii. PAN card (mandatory)
  • iii. Income proof (last 3 months’ salary slip/ last 3 years’ ITR/ Form-16/ last 6 months’ bank statement)
  • iv. Official ID proof (passport/driving license/voter’s ID/Aadhar card)
If you are salaried then please share your annual salary as income. If you are self-employed then please share the average annual income of last 3 years as per the filed ITR.
In case your communication address is different from your permanent address, there are separate fields to mention both of them. Make sure you are available at your communication address as this is where your policy documents will be sent after issuance.
You can check the status of your application by going to the Application Tracker.
You can cancel the policy application by submitting a request at our call center number 1860 267 9997
The various payment methods available to make your premium payment include credit card, debit card, net banking, UPI, Google Pay, Amazon Pay and other popular payment wallets.
You can save tax up to ₹ 54,600^ with a term policy. Premium paid and benefits received are eligible for tax benefits U/S. 80C and 10(10D).
You can download the tax certificate/premium paid certificate from the website as soon as you make the payment.
The Married Women’s Property (MWP) Act is useful for self-employed people. As a business-owner, you deal with various vendors, lenders and creditors on an everyday basis. In your absence, your insurance proceeds may be taken by people who you owe money, or even your relatives. Availing a term insurance plan under the Married Women's Property Act 1874 (MWP Act) helps in protecting your family's financial interests in your absence. Once a policy is availed under the MWP Act, it may not be attached by courts for repayment of your debts. Only your wife and children\ will be entitled to the Sum Assured in the event of your demise.
Yes, if you are self-employed, you can buy ICICI Pru iProtect Smart under MWP act and your wife and children can be beneficiaries under this act.
You can nominate your wife and/or children as beneficiaries under MWP act.
ICICI Pru iProtect Smart is available at special rates for women, with up to 17.5% lower premiums! The optional Critical Illness benefit## also covers women related cancers, breast cancer and cervical cancer.
Yes, this policy can be purchased for housewives for a life cover amount up to ₹ 50 Lakh. Those who work for you round the clock also deserve a term insurance protection.
While pregnant women can purchase a term policy, the final decision of whether to issue a policy or not will depend on the underwriting guidelines.
Yes, you can purchase term insurance if you are a smoker.
If you have consumed tobacco in any form in the last 12 months, you need to declare yourself as a smoker.
If you have consumed tobacco in any form in the last 12 months, you need to declare yourself as a smoker.
Your policy will not be affected if you start consuming alcohol or tobacco after policy issuance.
Yes, all claims arising due to corona virus COVID 19 will be covered and processed as per the terms and conditions of the policy.
The Claim Settlement Ratio tells you how many claims for life insurance have been paid out as a proportion of the total number of claims made. The higher this ratio is, the better. A higher ratio means there is a greater chance of your claim being settled. ICICI Pru Life has a high claim settlement ratio~ of 97.8%.Along with having a high claims ratio, ICICI Pru Life has also paid ₹ 195.28 bn$ in claims, a high number in the industry.
We have a 3-step claims process:
Step 1: Claim Reporting
You can report your claims online, at our branches, central office, via SMS, e-mail or through our call center as per your convenience. However, claims reported online, through SMS or e-mail will not be considered as intimation. Physical documents will be required to be sent to the nearest branch to start the process. The documents needed are:
  • - Claimant Statement Form (Death claims / Health claims)
  • - Death Certificate (for Death Claims)
  • - Medical/Hospitalization Documents
  • - Claimant's current address proof, photo identity proof and cancelled cheque / Copy of bank passbook (for Death Claims)
Step 2: Claim Processing
Our dedicated ClaimCare team will assess your claim and inform you in case any more documents need to be submitted. Post receiving all the necessary documents, we will process your claim request.
Step 3: Claim Settlement
Once your claim is intimated and we receive all the relevant documents, we will settle your claim.
For more detailed information on Claims, visit https://www.iciciprulife.com/insurance-claim.html.
With ClaimForSure, we provide guaranteed death claim settlement within one day*, making sure your family receives financial support when it needs it the most. In case there is any delay beyond one working day, your nominee will be paid interest* on the claim amount for every day of delay.
To avail ClaimForSure,
  • - Policies have to be active for a continuous 3 years with all due premiums paid
  • - All mandatory claim documents* should be submitted at the branch before 3 p.m. on a working day
  • - Total claim amount of all policies should be less than or equal to ₹ 1.5 Crore
  • - Claim must be a non-investigative case
Our average turn-around time for settling a claim as of FY 19-20 1.59 days>, with 90% of claims being settled within 3 days.
It is possible for a claim to be rejected if 'non-disclosure' or 'misstatement' of facts is discovered during an investigation. When a fact that affects the policy issuance decision is not disclosed in the proposal, it is termed as 'non-disclosure'. Similarly, withholding information or providing incorrect information while answering questions in the proposal form^^ is termed as, 'misstatement'.
For example, when an applicant is suffering from kidney related ailment and does not inform the insurer about the same in the proposal form, it is termed as non-disclosure. Similarly, when an applicant overstates his or her income, then it is called a misstatement
Only claims resulting from suicide are not payable within the first year of policy. All other claims are payable.
Yes, the policy covers deaths all over the world.
W/II/2940/2020-21

You can depend on us

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97.8% ~

Our claims settlement ratio for FY2019-20

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₹ 1.49 Lakh Cr`

Benefits paid up to March 31, 2020

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30 Day Return Policy

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

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Service Assurance 6

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

3 Easy Steps to Buy Online

1
Create your plan
Use our online calculator to customize your term plan and generate your premium quote
2
Fill application form
Fill a few details about you and answer some health related questions
3
Payment & upload documents
Pay via a range of options to complete your purchase and upload your documents required to get your policy issued
ADVT: W/II/3039/2020-21

2The premium of Rs. 490 p.m. has been approximately calculated for a 18 year old healthy male life with monthly mode of payment and premiums paid regularly for the policy term of 18 years with income payout option with Life Cover of Rs 1 crore. Goods and Services tax and/or applicable cesses (if any) as per applicable rates will be charged extra.

3A Life Assured shall be regarded as Terminally Ill only if that Life Assured is diagnosed as suffering from a condition 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. The terminal illness must be diagnosed and confirmed by medical practitioners’ registered with the Indian Medical Association and approved by the Company. The Company reserves the right for independent assessment.

5On diagnosis of Permanent Disability (PD) due to an accident, the future premiums under your policy for all benefits are waived. To know more about definitions, terms & conditions applicable for permanent disability due to accident, kindly refer sales brochure of ICICI Pru iProtect Smart.

6Policy issuance is also subject to individual case eligibility criteria.

7Savings in yearly mode of premium payment are in the form of Modal Loadings. For monthly and Half-yearly mode of premium payment, modal loadings are 2.5% and 1.25% respectively.

8Our Life insurance policies cover COVID-19 claims under life insurance claims, subject to applicable terms and conditions of policy contract and extant regulatory framework. COVID-19 is not included in Critical Illness benefit covered under IProtect Smart.

99Accidental Death benefit (ADB) is up to Rs. 2 Crores. 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.

12Additional 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.

# Subject to realization of payment and documents. Policy can be purchased in 3 steps: 1. Generating premium quote 2. Filling basic details and answering health related questions 3. Premium payment.

^Tax benefits of Rs. 54,600(Rs. 46,800 u/s 80C & Rs. 7,800 u/s 80D) is calculated at highest tax slab rate of 31.20%(including cess excluding surcharge as per old tax regime)on life insurance premium u/s 80C of Rs. 1,50,000 and health premium u/s 80D of Rs. 25,000. Tax benefits subject to conditions under Section 80C, 80D,10(10D), 115BAC and other provisions of the Income Tax Act,1961. Good and Service 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.

^^As per internal data of users who have visited iciciprulife.com in the month of November, 2019 and checked their premium for term insurance product, iProtect Smart.

~This is computed basis individual claims settled over total individual claims for the financial year. For details, refer to the Annual Report for FY2019-20 on our Website.

`As per Financial Statements (Schedule 4- Benefits paid (Gross))of the company, benefits paid since inception up to March 31, 2019.

Calculation of 85 years is based on the existing life years , that is, 85 years of age minus your current age. There are also other option for payment that is 7 pay, 10 pay, RP, 60 year-Age and PT – 5 year . For more details please refer product brochure.

-The Average Claims TAT for FY2019 for Death Claim (Individual) is 2.34 days. Non-Investigated Claims from Last Document received to Disbursal date.

##Accelerated Critical Illness Benefit (ACI Benefit) is optional and available under Life & Health and All in One options. This benefit is payable, on first occurrence of any of the 34 illnesses covered. Medical documents confirming diagnosis of critical illness needs to be submitted. The benefit is payable only on the fulfillment 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 ACI Benefit, terms & conditions governing it, kindly refer to sales brochure. ACI Benefit term would be equal to policy term or 30 years or (75-Age at entry), whichever is lower.

**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 ₹ 1 Crore life cover for a 26 year old healthy Male for a policy term of 58 years with lump sum payout option. The annual premium for 5 years Limited Pay option will be ₹ 85,762 & the monthly premium will be ₹ 7,324. The premium amounts are inclusive of taxes.

*Day 1 is counted from the day of receiving the last document. All due premiums in the policy must have been paid and the policy must have been active for a continuous period of 3 years. Mandatory document to be submitted at Branch Office before 3pm on a working day- Original policy certificate, copy of death certificate by local authority, Nominee’s current address proof, photo identity proof, Cancelled cheque, Copy of bank passbook, Copy of medico legal cause of death, Medical records (Admission notes, Discharge / Death summary, Test reports, etc.). For accidental death – Copy of FIR, Panchanama, Inquest report, Driving license. Claim documents submitted prior to 3pm will be considered for ULIP policies. Interest will be paid on claim amount for every day of delay beyond 1 working day. Applicable only for non-investigative death claims. Interest shall be at the bank rate that is prevalent at the beginning of the financial year in which death claim has been received. In case of breach in regulatory turnaround time, interest will be paid as per IRDAI regulations.
Claim statistics are for Financial Year 2019-20 and is computed basis individual claims settled over total individual claims for the financial year. For details, refer to Public Disclosures in our Website. Claim will be formally registered after we receive us a written request of your claim at our branch or Claims Cell office. Provided no investigation is required.

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 premium per month has been calculated for a healthy non-smoker male for a life cover of ₹ 1 crore and for a policy term of 30 years under the ICICI Pru iProtect Smart - Life option with regular pay option and regular income payout option. Premium amount will differ according to the age and benefit option chosen.

``Based on number of policies sold online between January 2019 - December 2019, 33% of our online customers purchase the optional critical illness benefit rider with their policy.
ADVT no. - W/II/1546/2020-21

ICICI Pru iProtect Smart UIN 105N151V06. W/II/2314/2020-21

ADVT no.(choose as per budget) - W/II/1756/2020-21

Comp code.(pro tips) - COMP/DOC/Feb/2021/32/5237

Comp code.(Existing Customer Message) - COMP/DOC/Dec/2020/1412/5002

Comp code.(2 benefits with no extra cost) - COMP/DOC/Feb/2021/22/5233

Comp code.(Document List) - COMP/DOC/Feb/2021/232/5385

The percentage saving computed is purely in terms of premium paid over the term (Difference between 10 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 ₹ 50 Lakh life cover for a 20 year old healthy Male for a policy term of 65 years with lumpsum payout option. The annual premium for 10 years Limited pay option will be ₹ 29,866 & the annual premium for Regular Pay option will be ₹11,928. The total payable premium through the term of the policy for 10 years Limited pay option with annual premium will be ₹ 2,98,660 & for Regular pay option with annual premium will be ₹ 7,75,320. The premium amounts are inclusive of taxes.
Calculation of 85 years is based on the existing life years, that is, 85 years of age minus your current age.

1The premium of Rs.372 p.m. has been calculated for a 19 year old healthy male for a life cover of Rs.50 lakh for the ICICI Pru iProtect Smart – Life Option under the regular income payout option for a policy term of 25 years is Rs. 4345 p.a.(inclusive of all taxes)

4The premium of Rs.590 p.m. has been approximately calculated for a 18 year old healthy male for a life cover of Rs.1 crore and an accelerated critical illness cover of Rs. 10 lakh under the ICICI Pru iProtect Smart – Life & Health Option for a regular income payout option for a policy term of 13 years is Rs.6,847 p.a. (exclusive of all taxes). Goods and Services tax and/or applicable cesses (if any) as per applicable rates will be charged extra.

11The premium for a 20 year old non-smoker healthy male with a life cover of Rs.2 crore under the ICICI Pru iProtect Smart – Life Option with income payout option for a policy term of 19 years under Regular Pay is Rs. 880 pm (inclusive of all taxes).

=The premium for a 20 year old non-smoker healthy male with a life cover of Rs.2 crore under the ICICI Pru iProtect Smart – Life Option with income payout option for a policy term of 19 years under Regular Pay is Rs. 880 pm (inclusive of all taxes).

++The premium of Rs. 657 p.m. has been approximately calculated for a 23 year old healthy male for a life cover of Rs.1.5 crore for the ICICI Pru iProtect Smart – Life Option under the regular income payout option for a policy term of 24 years is Rs.7,669 p.a. (exclusive of all taxes). Goods and Services tax and/or applicable cesses (if any) as per applicable rates will be charged extra.

\Nothing here in contained shall operate to destroy or impede the right of any creditor to be paid out of the proceeds of any policy of assurance, which may have been effected with intent to defraud creditors. In case of any third party claim in the Courts of India with regards the insurance proceeds, the amount shall be subject to the judiciary directions. Please seek professional legal advice for the applicability of this provision.

>The Average Claims TAT for FY 19-20 for Death Claim (Individual) is 1.59 days. Non-Investigated Claims from Last Document received to Disbursal date.

$$Based on number of policies sold online between January 2019 - December 2019.

==For IPS POS there is waiting period of 60 days for death benefit.

$Data from IRDAI Annual Report 2019-20

© ICICI Prudential Life Insurance Co. Ltd. All rights reserved. Registered with Insurance Regulatory & Development Authority of India (IRDAI) as Life Insurance Company. Regn. No. 105. CIN: L66010MH2000PLC127837.
Reg. Off.: ICICI PruLife Towers, 1089 Appasaheb Marathe Marg, Prabhadevi, Mumbai 400025. Tel.: 40391600. Member of the Life Insurance Council. For more details on the risk factors, term and conditions please read the product brochure carefully before concluding the sale. Trade Logo displayed above belongs to ICICI Bank Ltd & Prudential IP services Ltd and used by ICICI Prudential Life Insurance Company Ltd under license.

BEWARE OF SUSPICIOUS PHONE CALLS AND FICTITIOUS/FRAUDULENT OFFERS
IRDAI is not involved in activities like selling insurance policies, announcing bonus or investment of premiums. Public receiving such phone calls are requested to lodge a police complaint.

irdai cautions public against spurious calls and FICTITIOUS offers
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840/month

For a cover of 1 Crore for 30 years

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I will get What is this ?

480 /
online discount' applied throughout policy term'

I will get

cover till 99 years of age
1.

Additional benefits I can opt for

2 benefits with no extra cost added

View benefits
arrow34 Critical Illness benefit is a popular option amongst online buyers with 1 out of 3`` buying it
2.

I will pay for

10 years - I stay covered for the entire policy term of 30 years

What is limited pay?
Save up to 65% on your premiums with limited pay option**. See How
3.

In my absence, my family will get

The entire amount in a single installment

Lumpsum payout of 1 Cr

One large amount + rest in installments

50%

Lumpsum payout of 50,00,000 +

Regular monthly income of 50,000 for 10 years

Regular monthly installments

Regular monthly income of 83,333 for 10 years

Increasing installments

Regular monthly income starting at83,333 increasing by 10% every year for 10 years

Critical
Illness Cover Option##

We pay the entire cover amount on the first diagnosis of a critical illness.
View all 34 illnesses

at ₹ 50 / month

Accidental
Death Benefit9

Additional cover in case of an accidental death.

at ₹ 50 / month
What is this ?
arrow Keep these documents handy!

I will get What is this ?

5.75 Crores

1,480 /

Base Premium

920/month

+

Critical Illness

156/month

+

Accidental Death

240/month

Additional benefits I can opt for

Critical Illness Benefit Option## 156/month

We pay the entire cover amount on the first diagnosis of a critical illness.

View all 34 illnesses

50 Lakhs

Accidental Death Cover 156/month

Additional cover in case of an accidental death.

View all 34 illnesses

25 Lakhs

In my absence, my family will get

The entire amount in a single installment

Lumpsum payout of 1 Cr

One large amount + rest in installments

50% of Life Cover

Lumpsum payout of 50,00,000+

Regular monthly income of 50,000 for 10 years

Regular monthly installments

Regular monthly income of 75,000 for 10 years

Increasing installments

Regular monthly income starting at83,333 increasing by 10% every year for 10 years

I will pay for

10 years - I stay covered for the entire policy term of 30 years

What is limited pay?
Save up to 65% on your premiums with limited pay option**. See How

1. Please tell us about your occupation

2. What is your premium budget?

Choose how much premium you want to pay as per your budget.
phonr

Pro tip : Save 2.5% on your premium when you choose annual premium payment mode7

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Congratulations XYZ!!
As our valued customer, You are eligible for exclusive benefits
A shorter application form which can be completed quickly
Waiver of required documents, wherever applicable

Quick Guide to your plan

Table of contents
  • 1 What is a term plan?
  • 2 Why do I need a term plan?
  • 3 When should I buy a term plan?
  • 4 Will my premium increase every year?
  • 5 How much life cover do I need?
  • 6 What types of death are covered?
  • 7 What is Accidental death benefit9?
  • 8 What is Critical illness benefit##?
  • 9 What is the ideal Critical illness##?
  • 10 What is limited pay option**?
  • 11 What is Acclerated Terminal illness benefit3?
  • 12 What is Permanent disability benefit5?
  • 13 Should I buy this plan online?
Table of contents
  • 1 What is a term plan?
  • 2 Why do I need a term plan?
  • 3 When should I buy a term plan?
  • 4 Will my premium increase every year?
  • 5 How much life cover do I need?
  • 6 What types of death are covered?
  • 7 What is Accidental death benefit9?
  • 8 What is Critical illness benefit ##?
  • 9 What is the ideal Critical illness##?
  • 10 What is limited pay option**?
  • 11 What is Acclerated Terminal illness benefit3?
  • 12 What is Permanent disability benefit5?
  • 13 Should I buy this plan online?
Next up

What is a term plan?

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What is a term plan?

Term Insurance plan or Term life insurance plan is a a simple and pure risk cover form of life insurance. It provides financial protection to your family at affordable and cost effective 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.

Next up

Why do I need a term plan?

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Why do I need a term plan?

Assume, you earn an annual income of ₹ 7 Lakh. For your family’s financial well-being, this income should continue even when you are not around. There are a few ways that you can make this happen.

  • A bank a/c saving of ₹ 1 Crore as FD, which will at 5% generate a yearly income of ₹ 5 Lakh for your family.
  • A sizeable investment which might grow to a corpus of ₹ 1 Crore, before your death.
  • If you can't manage to create a large saving/ investment, then a viable option is a term plan of ₹ 1 Crore. It will pay this amount to your family on your demise. Premiums for a ₹ 1 Crore life cover start at ₹ 490 per month 2 only, which is less than half the cost you would pay for dinner with family at a restaurant.
Next up

When should I buy a term plan?

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When should I buy a term plan?

The earlier you buy a term plan, the better (and cheaper) it is. With time, the premiums become more expensive. For example, for ₹ 1 Crore cover amount, premiums for a 30-year-old, non-smoker male would amount to ₹ 885 p.m. for a 30-year policy duration of ICICI Pru iProtect Smart - Life option with regular pay and regular income payout option. The premium increases to ₹ 1,784 p.m. if the policy is bought at age 40.

Also, with current lifestyles and increasing instances of diseases and illnesses, it may become difficult to get a term plan later, as you grow older.

Next up

Will my premium increase every year?

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Will my premium increase every year?

No, the premium is fixed for the entire policy duration once you purchase a term plan. The tax component (GST) may change as per Government of India regulations ^.

Next up

How much life cover do I need?

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How much life cover do I need?

The life cover you need depends on your current annual income. We recommend that a life 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 could go for monthly premium payment option over a yearly commitment. However, it is important to have a sufficient life cover so that your family’s financial security is not compromised.

Next up

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

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

All kinds of death 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. Death due to suicide, only in the first year of policy is not covered. Also, once you buy the policy, you stay covered whether you are in India or abroad..

Next up

What is Accidental death benefit9?

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What is Accidental death benefit9?

Road, Train accidents happen all the time. Insurance can’t stop them, but it can mitigate the financial effects. With this benefit, your family will get an additional payout in case of death due to an accident. For example, if you buy life cover of ₹ 1cr with accident benefit of ₹ 50 Lakh, your nominee will get ₹ 1.5 crore in case of death due to an accident. Maximum accident cover available with this benefit is ₹ 2 crore.

Next up

What is Critical illness Benefit Option?

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What is Critical illness Benefit Option ##?

If you are ever diagnosed with a critical illness, it can affect you physically, emotionally and financially. ICICI Pru iProtect Smart offers the optional benefit of covering 34 Critical Illnesses such as cancer, heart attack and kidney failure for a maximum of 30 years without any change in premium. But here’s the best part - It gives full claim payout on the first diagnosis of any of the covered 34 Critical Illnesses. No Hospital Bills required**. This amount can also safeguard your family against the loss of income arising out of the illness.

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.

Next up

What is the ideal Critical illness Benefit Option that I should opt for?

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What is the ideal Critical illness Benefit Option ## that I should opt for?

Treating a critical illness like cancer is not only expensive, but the recovery time is also long. However, an aspect most ignored is that critical illness could mean that your income temporarily stops while you recover. A regular health or a mediclaim policy only takes care of treatment cost. Our critical illness cover pays out the entire amount on first detection of any of the 34 critical illnesses. This amount can be used to take care of both – your treatment expenses, as well as loss of income.

Ideally, you should opt for a critical illness benefit that is equal to 2 years of your annual income, so that income for your family is taken care of, while you recover.

Next up

What is limited pay option?

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What is limited pay option**?

The limited payment option helps you save on premium. With this option, you pay premiums for a limited period like 1,5, 7 or 10 year(s) and stay covered for the entire policy duration. Although the premiums you pay now would be higher, you end up saving up to 65% over the entire policy period.

Next up

What is Acclerated Terminal illness benefit 3?

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What is Acclerated Terminal illness benefit 3

Terminal illnesses are not only life-threatening but can also spell financial ruin. ICICI Pru iProtect Smart helps you fight those illnesses by paying 100% of your life cover amount before death (covers AIDS as well).

This benefit comes in-built in your policy without any extra cost to you.

Next up

What is Permanent disability benefit?

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What is Permanent disability benefit 5?

In case of permanent disability due to accident, all future premiums are waived off, and the life cover continues for the remaining policy duration.

This benefit comes in-built in your policy without any extra cost to you.

Next up

Should I buy this plan online?

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Should I buy this plan online?

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

  • You get to buy directly from the insurance company - there are no intermediaries
  • Your personal and health information is private and secure
  • You get an online discount on all premiums for the entire policy term. 5% discount on premium is applicable for regular and limited pay policies. In the case of Single Pay, discount applicable is 2% of Single Premium.
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Advt: W/II/0291/2019-20