Can I purchase term insurance if I'm a smoker?

Yes, you can purchase term insurance if you are a smoker.

I earlier used to smoke cigarettes but now I have quit smoking. Do I need to declare myself as a smoker?

If you have consumed tobacco in any form in the last 12 months, you need to declare yourself as a smoker.

Is there any difference between premium rates of smoker and non-smoker buyers?

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..

I smoke occasionally, do I need to declare myself as a smoker?

If you have consumed tobacco in any form in the last 12 months, you need to declare yourself as a smoker.

Term Insurance Calculator Online 2024

Is it safe to buy a term plan online?

Yes, you can purchase a term plan online with verified payment methods like UPI, debit or credit card, or net banking. As long as you select a reputable insurance company, you have nothing to worry about. In case of any issues, you can also reach out to the customer service team.

How is a term insurance plan different from other life insurance plans?

While traditional life insurance plans have both a protection and an investment component, term insurance plans are pure protection plans that don't give any payout on surviving the policy term. However, as compared to traditional life insurance plans, term plans have the advantage of providing large sum assured coverage at much more affordable rates.

Why should I buy a term plan?

In today's uncertain times, it is important to ensure your dependents are financially protected even if you are not around. Buying a term plan is a simple and cost-effective way to do this. With term insurance, you can get a large amount of life cover at a relatively low premium rate. You can get a ₹1 crore term insurance cover starting at just ₹460 per month^2a, which is less than half the cost you would typically pay for an outing with your family. The benefit amount will be paid to the nominee in case of death of the policyholder during the term of the policy.

Do I need to buy term insurance even if I'm covered under my company's group 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:

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.
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.
Standard policy for all employees, not customized to your needs - The life insurance policies provided by your employer are standardized policies which are not customized according to your specific needs and don't generally contain any provisions for critical illness, terminal illness and disabilities.

Hence, even if you are covered under your company's group policy, you may still buy a separate term plan with a life cover that is at least 10-15 times your annual income to make sure your family is able to sustain their current standard of living and is adequately provided for in your absence.

How do I get a term plan online?

You can get a term plan online by visiting the ICICI Prudential Life website and clicking on Term Insurance. You can download the brochure to go through the details of the policy or fill your basic details like age, gender, tobacco usage, income etc. in our term insurance premium calculator and generate a customised quote. You can then make the payment, submit the documents, and complete the medical check-up. Your policy will be issued once all these formalities have been completed.

Are there any age limits for buying a term plan?

Yes, the minimum and maximum age for buying a term plan are 18 and 60 years respectively.

How to select the best term plan for myself?

There are various factors you need to consider when selecting the best term plan. These are:

Brand: Choose a well-known brand that is financially strong and sure to be around for a long time. ICICI Prudential Life Insurance is an old and trusted private sector life insurance company in the country with an Assets Under Management value of ₹2.40 tn¹⁸ (as on Mar 31, 2022).
Claim settlement: Select an insurance company with a consistently high claim settlement ratio and an easy and hassle free claim settlement process. With ICICI Prudential's term plan, you can get your claim settled within 1 day ^>. The company has a claim settlement ratio of 97.8% (FY 2021-22) ^~ and has paid ₹2.04 tn ^` in claims (since inception up to Mar 31, 2022) You can check our last 5 years' claim settlement ratio here .
Additional benefits: Look for additional benefits such as critical illness coverage and accidental death coverage. ICICI Prudential Life term plan provides the option to get health coverage for 34 critical illnesses^## up to ₹1 crore and accidental death coverage⁹ up to ₹2 crore.

What are the benefits of buying a term insurance policy online?

There are various benefits of buying a term plan online:

Ease and convenience - You can complete your purchase in just a few minutes anytime anywhere. You can explore our plans on your mobile too
Better control - Buying a term plan online lets you customize it according to your exact needs instead of relying on someone else to do so.
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.
Full security - Your personal and health information is private and secure.
Online discount - ICICI Prudential provides up to 5% discount^`= when you purchase our term plan online (If you are an ICICI group employee, you get 10% discount throughout the policy term, even if you leave the organization after purchase of the policy).
Dedicated Relationship Manager - From the moment you purchase a policy till the time you receive the policy kit, a dedicated Relationship Manager will be assigned to you who will assist you at every step, right from uploading of documents to fixing up your medical appointments to any other doubts/issues your might have about our process.

What kind of deaths are covered in this term insurance plan?

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.

How much term insurance cover do I need?

The term insurance cover you need depends on your current annual income. We recommend that a term insurance cover equivalent to 10-15 times your annual income is sufficient to provide for a safe future for your family. If budget is a problem, you can go for a monthly premium payment option over a yearly commitment. However, it is important to have a sufficient term insurance cover so that your family's financial security is not comprmised. A term insurance premium calculator will help you in choosing the term insurance cover well suited to your budget

What policy term should I select?

You should get a policy till your retirement age. But financial liabilities can continue beyond retirement too. ICICI Prudential Life term plan also gives you the option to get a whole life plan till the age of 99 years. It will be cheaper to buy a policy for a longer term now than to purchase another one later.

What are the in-built benefits offered under ICICI Pru iProtect Smart term insurance?

ICICI Prudential Life term plan comes with two in-built benefits:

Terminal Illness Benefit³: You receive 100% claim payout in case you contract a terminal illness ³
Permanent Disability Benefit⁵: All your future premiums are waived off while your policy continues if you get a permanent disability ⁵

Refer to our product brochure to know more about these benefits.

What is the maximum cover I can get without going for physical medicals?

Our term insurance plan offers a term insurance cover up to ₹2 crore and an additional critical illness benefit (optional) of up to ?25 lakh with only telemedicals process (subject to underwriting). The same can be completed from the safety of your home. In case you are required to undergo physical medicals, our team will contact you for the same.

Do I need to visit ICICI Prudential Life Insurance Company's branch for anything or the entire process of buying a term insurance plan is online?

You don't have to visit any of our branches as the entire process is online. Yes, there maybe a situation where you may have to visit one of our health partners (diagnostic center) to undergo physical medicals. Our team of experts will decide based on the details given by you, whether you are eligible for Tele medicals or Physical medicals. Also if our Health Partners are available in close proximity to your place of residence we will arrange for a home visit. The cost of the medical tests are completely borne by ICICI Prudential Life Insurance.

Why should I buy the term insurance plan from ICICI Prudential Life Insurance?

ICICI Prudential Life was founded in the year 2001. With a legacy of 21 years, ICICI Prudential Life has earned itself the trust of its customers by being one of the top private insurers in the country today. Not only that, with time we have adapted ourselves wth the changing consumer needs with customer centricity being one of our cornerstones.
1.There for you
Taking the customer first approach, we have made the online insurance buying process very easy and seamless. Be it offering 5% discount^`= on premiums throughout the policy term or providing assistance at the time of purchase or assigning a dedicated Relationship Manager to assist you every step of the way, you can be assured that ICICI Prudential Life will be there for you.
2.There for your family
At ICICI Prudential Life, we put our customers first and have been striving to improve our claims experience over time. Your family has the option to report claim either online, at our branches, central office, via SMS, e-mail or through our call centre as per their convenience. We also provide an option of door step claim document pick-up (within India). To avail this service, the beneficiary needs to submit a request at claim.support@iciciprulife.com or at our call-centre. Our special ClaimCare team will assess your claim, and inform you in case any further documents need to be submitted. Post receiving all the necessary documents, we will process your claim request. When it comes to settling claims you can trust ICICI Prudential Life's track record of high claim settlement ratios. You have made the right choice by choosing us as your Life Insurance partner.

How is Terminal Illness benefit different from Critical Illness benefit? Is it included in the basic benefit or an add-on?

Terminal Illness is an in-built feature of our Term plan as it does not incur any extra cost³. Any condition or illness which, in the opinion of two independent medical practitioners’ specializing in treatment of such illness, is highly likely to lead to death within 6 months will be considered as a Terminal Illness. The terminal illness must be diagnosed and confirmed by medical practitioners’ registered with the Indian Medical Association and approved by the Company. On the other hand, Critical Illness Cover is an optional benefit that you can purchase wherein you receive a pre-determined claim amount in case of diagnosis of any of 34 specified critical illnesses ^##. No bills or proof of expenditure is required. There is also no restriction of network hospitals. You can use the claim amount to get a treatment at a hospital of your choice or however else you deem fit. This benefit is accelerated and not additional, which means the policy will continue with the Death Benefit reduced by the extent of the critical illness benefit paid. Also, the premium for this benefit remains constant throughout policy term.

What are the various benefits of using a term insurance calculator?

A term insurance calculator can help you save time and effort. It is a free online tool that gives an accurate result of the premium which you have to pay for the life cover` of your choice. Online term insurance calculators also make it easier to create a budget and accommodate your insurance needs within it.
A term insurance calculator also offers a lot of flexibility wherein you can add or remove benefits/riders based on your requirement, choose how you would want your nominee to receive the life cover` amount in case of unfortunate death as well as choose to pay premiums in a frequency which you would be more comfortable with.

What is Smart Exit° Option?

Under the Smart Exit° Option available with ICICI Pru iProtect Smart term plan, the policyholder can exit the policy once the required eligibility conditions are met and receive all the premiums paid^S1, excluding the GST amount. This option can be exercised in any policy year greater than 25 but not during the last 5 policy years, provided the age of the life assured is 60 years or more at the time of exercise. Availing this option provides you with the flexibility of exiting the policy early in case your financial responsibilities are no longer there and receive all the premiums paid^S1 at no additional cost.

What is the minimum sum assured for which Smart Exit Benefit is applicable?

The minimum Sum Assured at the inception of policy should be ₹50 lakh.

What are the condition needs to be fulfilled for availing this benefit?

A policy holder needs to fulfill the following conditions:

His minimum sum assured should be ₹50 lakh.
His minimum policy term chosen at inception should be 31 years.
The age of the policy holder at the time of exercising this benefit should be 60 or above.
At the time of availing the benefit, his policy should be in-force for at least 25 years.
He cannot avail this benefit in the last 5 years of his policy term chosen at inception.
The Policy is in-force with all due premiums paid at the time of exercising this option.
No claim for any of the underlying benefits has been registered and is under evaluation/ or accepted/ or paid/ being paid on the Policy.

What happens on availing the Smart Exit Benefit?

The Policy shall terminate on payment of this benefit (if exercised) and all rights, benefits and interests under this Policy will stand extinguished.

Can I get return of premium for Critical Illness Benefit and Accidental Death Benefit?

The rider premiums (Critical Illness Rider^## and Accidental Death Benefit Rider⁹) will also be refunded provided their term hasn’t ended till the time of exercising this option.

Can I get return of premium if I have already claimed Critical Illness Benefit in the past?

In case the customer has already received the claim for the Critical Illness Benefit, no premiums will be paid back to the customer, as in case of claim, special exit feature doesn’t apply.

How much premium is returned on availing Smart Exit° Benefit?

On availing this benefit, the customer will receive 100% of Total premium paid (incl. Life Cover premium, Critical Illness premium, Accidental Death Benefit premium and Life Stage premium) excluding GST amount.

How much Premium will be returned if I have opted for Life Stage Benefit during policy term?

In cases where Life Stage Protection option has been exercised, Total Premiums Paid includes premium paid for every subsequent increase in sum assured purchased along with premiums paid for CI and ADBR riders.

What is the process of adding Smart Exit° Benefit in the policy at the time of buying?

Smart Exit° Benefit is automatically added to your policy once the required eligibility conditions have been met.

Can an existing customer who has already bought the policy before Smart Exit benefit was applicable claim its benefit?

Smart Exit benefit option is applicable for all policies bought on or after February 21st, 2023 with the updated product UIN 105N151V07, that fulfil the qualification criteria.

What are the optional benefits available under this term insurance plan?

There are two additional benefit options available with ICICI Pru's term plan:

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 expenditure 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.
Accidental Death Cover ⁹: 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.

Why is Critical Illness cover ^## important?

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.

How much Critical Illness benefit ^## can I choose under this term plan?

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.

When do you receive Critical Illness pay-out?

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 product brochure for more details.

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

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.

What is Accidental Death cover ⁹?

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 policyholder 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 term insurance policy anytime during the term of your policy.

Why should I buy a separate Accidental Death cover ⁹ when accidental deaths are already covered in the base plan?

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.

How much Accidental Death benefit ⁹ can I choose under this term Insurance plan?

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.

What is meant by a Joint Life Term Insurance plan and how is it different from a normal Term Insurance plan?

A Joint Life Term Plan protects the spouses jointly, with the husband and wife receiving coverage from a single plan. However, if a person wants to buy a regular term plan for himself and his wife, they must obtain two term plans under a standard term insurance policy.

How does Joint Life Term Insurance work?

This combination term plan offers cover for both husband and wife and both the spouses can choose their own nominees.
In the unfortunate event of death of either of the spouses, the death benefit proceeds will be awarded to the nominee chosen by demised spouse when they were alive. The term plan for the alive spouse can continue till the end of policy term.
In the unfortunate event of death of both the spouses, the death benefit proceeds will be awarded to their individually chosen nominees. The term plan for both the spouses will terminate.

Who can buy Joint Life Term Insurance?

This plan can be bought by the working husband for himself and his homemaker wife (housewife). The idea behind this product is to promote safety net for the family when the main contributors of the family pass away.
If the spouses are working husband and working wife, then they can buy individual plans of affordable ICICI Pru iProtect Smart and enjoy individual tax^{^} benefits.

What is the minimum and maximum life cover for husband and wife?

Minimum life cover^!a for husband is ₹1 crore and max life cover^!a is as per financial eligibility.
Since the plan can only we bought for a housewife, her life cover^!a depends on her husband’s eligibility to buy a cover. Housewife can only buy a life cover^!a of ₹50 lakh.

Do I need to fill two different application forms for my spouse and I?

No, only one application form is required, which shall comprise both the husband's and wife's details. On the issuance of the policy, you will receive one welcome kit containing two policy bonds.

I am a working woman; can I buy this plan for my husband and I?

This particular plan can only be bought by a husband for himself and his wife, who is a homemaker (housewife). If both the spouses are working we recommend buying two individual term plan for working husband and working wife.

What are the optional benefits available with this plan?

Both the spouses can buy for 34 Critical Illness Cover^## which covers all major critical illnesses. A lumpsum will be paid out to the insured life on diagnosis of the listed critical illnesses based on just the diagnostic report for treatment, income loss, etc. Maximum Critical illness cover^## available for husband is up to ₹1 crore and for the housewife is ₹10 lakh.
Husband can also buy Accidental Death Cover⁹ up to ₹2 crore to provide additional financial safety net to his family in the unfortunate event of accidental death.

What are the tax benefits available with this plan?

Tax^{^} Benefits under the policy are subject to conditions under section 80C, 80D and 10(10D of the Income Tax Act, 1961. Tax laws are subject to amendments from time to time. This benefit can be enjoyed by the husband for his tax calculations. Please consult your tax advisor for more details.

Will the premiums be same for both the life assured?

Factors like age, gender, tobacco consumption, and health profile determine the premium. Women in general enjoy up 18%^†† lower premium rates than males.

Does iProtect Smart Joint Life Plan offered under ICICI Pru iProtect Smart provide the option to buy the plan under Married Women's Property (MWP) Act?

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

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

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.

What is Accidental Death cover ⁹?

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 policyholder 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 term insurance policy anytime during the term of your policy.

Why should I buy a separate Accidental Death cover ⁹ when accidental deaths are already covered in the base plan?

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.

How much Accidental Death benefit ⁹ can I choose under this term Insurance plan?

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.

What all methods are available to make premium payment?

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.

Will my premium increase every year?

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.

What are the advantages of limited pay premium option?

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.

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

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, 15 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)

What is the ideal premium payment term?

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, 10 or 15 years 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.

Which are the different payment frequencies available for paying premium?

You can choose to pay the premiums monthly, half-yearly or yearly. Paying yearly helps you save 2.5% on your premium payments ⁷ Our term insurance premium calculator gives you the flexibility to choose the payment frequency as per your comfort.

Can I change premium payment frequency during the policy term?

Yes, you can.

What is the grace period for making premium payment?

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.

What are the various methods of paying premium online?

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.

What are the payout options available under Our Term Plan?

You can choose how you want your nominee to receive the term insurance claim payout, from our four flexible payout options:

Lump sum - entire claim amount is paid out at once
Monthly income -life cover payout in made in equal monthly instalments
Increasing income - life cover payout in monthly instalments that increase by 10% every year
Lump sum + Income - one large payout at once and remaining in monthly instalments
Our term insurance premium calculator allows you to check premiums for each of these payout options and you can choose whichever is the best suited for you.

What is lump-sum payout and who should choose it?

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.
The lump sum payout can help your family possibly close the pending home loan EMIs. They can also use the huge sum of money (life cover amount) to further invest it in instruments that will ensure needs like sending children abroad for higher education, is taken care of, as such an amount invested as principal and can reap high returns thus fulfilling all your family’s dreams even in your absence.

What is monthly income plan and who should choose it?

Under the monthly income plan, you choose the period for which you want your family to receive monthly income. Options available under this payout out are 10 years, 20 years and 30 years. For example, if you choose monthly income for 10 years then 10% of the benefit amount is payable to your nominee every year for 10 years. This is paid in equal monthly instalments, at the rate of 0.83333% of the total benefit amount. This is the most economical payout option.
This option is ideal for those who want to ensure that the burden of outstanding liabilities and monthly household expenses does not befall their loved ones while also paying affordable premiums.

What is increasing monthly income plan and who should choose it?

Under this option, your term life cover is paid out to the nominee in the form of a monthly income, which increases by 10% every year, for the next 10 years. It has been designed to keep in mind that the financial needs of the family will keep increasing due to inflation, and they should be able to manage these without any burden.
This payout option is suitable for those who want to opt for a longer policy term e.g.: coverage till the age of 75 or a whole life term i.e., coverage till the age of 99. It will ensure that the life cover payout will keep increasing considering inflation and your family’s expenses will be managed. The increasing payout will also take care of your child’s higher education in your absence, thus taking into account the rising cost of education.

What is lump-sum + monthly income option and who should choose it?

You can choose for your family to receive the life cover payout in 2 parts. In case of death of the policyholder, your family will get one installment as a lumpsum payout immediately and the rest in the form of monthly income for a period of 10 years/20 years/30 years (chosen at inception).This will ensure that the life cover amount can help the family with immediate needs (lumpsum) as well as take care of day to day expenses (monthly income).
This payout option is suitable for individuals who are currently at a life stage akin to marriage, birth of their first or second child and/or are thus looking to buy their own house. This means that your responsibilities are increasing and in the long term you will need to secure finances for your children’s/child’s higher education as well as to finance the home loan EMIs.
The lumpsum part will take care of the EMIs thus reducing the burden on your family and the income part will ensure that your family’s needs are taken care of without them having to be hassled about managing a huge sum of money.

Can the nominee be changed after I have purchased the policy?

Yes, you can change the nominee at any time during the policy term by informing the company. You can also add multiple nominees. In case you want to change the nominee prior to the issuance of your policy you can write us at buyonline@iciciprulife.com or get in touch with your Relationship Manager on 1860 267 9997. In case you change your mind about your nominee post the issuance of your policy, you can write to us here https://www.iciciprulife.com/services/write-to-us-csr.html or on our Email ID lifeline@iciciprulife.com. If you want to speak to someone you can call on our service hotline toll free number 18602667766.

What all details of the nominee are required to purchase this plan online?

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.

What all information should my nominee know?

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.

What will happen if my nominee passes away before me?

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.

Can I add more than one nominee? How can I allocate % share to each nominee?

Yes, you can add multiple nominees. There is no specific number. You can add as many nominees as you want to. You can do so at the time of purchase or post issuance of your policy, anytime during the policy term. The Insurance Act provides that where there are more nominees than one, the policy money will be payable to them jointly or survivor(s) of them. In case you want to add nominee/s prior to the issuance of your policy you can write us at buyonline@iciciprulife.com or get in touch with your Relationship Manager on 1860 267 9997. In case you change your mind about your nominee/s post the issuance of your policy: you can write to us here https://www.iciciprulife.com/services/write-to-us-csr.html or on our Email ID lifeline@iciciprulife.com. If you want to speak to someone you can call on our service hotline toll free number 18602667766

What is the process of policy issuance?

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. You can use the application tracker on our website to check the status of your policy.

What is the process of medical check-up?

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)
Any additional tests in case required by our team of expert underwriters

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

How will I receive my policy documents?

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.

Am I allowed to change the sum assured once I have bought the policy?

Yes. ICICI Prudential Life term plan comes with Life Stage benefit ¹² 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.

Am I allowed to change the policy term once I have bought the policy?

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

What happens to the policy if the premium is not paid before the due date?

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.

Can I return the policy if I am not satisfied with it?

ICICI Prudential Life online term plan 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.

What will happen to my policy if I become NRI after purchasing this policy?

Once you buy the policy, you stay covered whether you are in India or abroad.

Will I get any Bond Paper/ Policy Document and how will I receive it?

Yes. You will receive the digital welcome kit which we term as "e-Welcome kit"/ soft copy of policy document within 4-5 days of issuance and hard copy will be delivered at your place of residence within 7 days. The welcome kit includes your Policy Certificate, First Premium Receipt, Key Feature Document and Terms & Conditions of the policy. A digital policy kit is as good as physical policy kit & considered as valid document for placing any service related requests from your end. To view the E-Welcome kit/Policy document, you should have Adobe Reader version 6.0 or above (or a similar viewer) installed on your personal computer or mobile device. The password for the E-Welcome Kit/Policy document is a combination of the first four letters of your name and your date of birth in DDMM format.

Why is it important to share correct personal information while checking term life insurance quotes?

Entering correct personal information like your gender, date of birth and your tobacco consumption habits will help in calculating the right premium for you and also recommend you an adequate sum assured or life cover` amount based on your income range.

What is the application process to buy this plan?

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. Once you are done customising your quote using the term insurance premium calculator, you can proceed to the application form. The application form consists of three sections.

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.
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.
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.

Can I fill this application form on my mobile phone?

Yes you can. Our application form is mobile friendly and can be filled anytime anywhere in just a few minutes!

What documents are required for buying a policy online?

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)

What all income can I club in the income field in the application form?

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.

Which address has to be mentioned in the application form?

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.

How can I check the status of my application?

You can check the status of your application by going to the Application Tracker.

How can I cancel my application?

You can cancel the policy application by submitting a request at our call center number 1860 267 9997

How much tax can I save with a term plan?

You can save tax up to ₹54,600^ with a term plan. Premium paid and benefits received are eligible for tax benefits under section 80C, 80D and 10(10D).

How will I get instant tax certificate?

You can download the tax certificate/premium paid certificate from the website as soon as you make the payment.

What is the Married Women's Property (MWP) Act^!c and who is it useful for?

The Married Women's Property (MWP) Act^!c 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 term 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.

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

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.

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

You can nominate your wife and/or children as beneficiaries under MWP act.

Are there any special advantages available for women?

Our term insurance plan is available at special rates for women, with up to 24%⁺⁺ lower premiums! Our term insurance premium calculator will help you in customising your plan as per your needs. The optional Critical Illness benefit^## also covers women related cancers, breast cancer and cervical cancer.

Can this policy be purchased by housewives?

Yes, this policy can be purchased for housewives for a life cover^!a amount up to ₹1 crore, (depending on husband’s life cover^!a). Those who work for you round the clock also deserve a term insurance protection.

Can this policy be purchased by pregnant women?

While pregnant women can purchase a term plan, the final decision of whether to issue a policy or not will depend on the underwriting guidelines.

What are the conditions for a pregnant lady to buy a term policy?

As such, there are no conditions for pregnant ladies to buy a term insurance policy. Insurers would generally approve term insurance policies for the first trimester of your pregnancy or up to 12 weeks, as complications are minimal.

Who can be the nominee for housewife at the time of buying the Term plan?

Nominees for housewives buying a term should be first-degree relatives. This means relatives such as the husband, children, parents, or siblings.

Can a housewife buying a term policy opt for riders?

Riders are optional and are meant to enhance protection against specific risks. Housewives who buy a term plan can opt for a critical illness^## cover of up to ₹15 Lakhs along with life cover^!a.

How much life coverage can a housewife get?

Housewife’s life cover^!a depends on her husband’s eligibility to buy a cover. The husband must either have an existing insurance cover of ₹ 1 crore or more with any insurer, or he must be financially eligible for a cover of ₹ 1 crore or more.
Minimum life cover for wife is ₹ 50 lakh and max life cover is up to 50% of husband’s life cover (upper limit of ₹ 1 crore).

Can a housewife buying a term policy opt for an Accidental death benefit rider?

Unfortunately Accidental death benefit rider is not available with term insurance plan for housewives.

What is the minimum qualification required for a housewife to get life coverage?

The minimum qualification required for a housewife

Affordable !1 cover in one go

100% Premium Refund Option °

Limited premium payments

1 Day Claim Settlement >

Over ₹1,800 Cr Volume Of Claims ε Closed

Extra cover option for 34 illnesses ## like Cancer

Accidental Death Cover (Optional) 9

Tax ^ Benefits

Terminal Illness Benefit 3

Permanent Disability Waiver 5

At your Doorstep claim assistance

34 Critical Illnesses Benefit ##

Accidental Death Cover 9

In-Built Terminal Illness Benefit 3

In-Built Permanent Disability Waiver 5

1 Day Claim Settlement >

Tax ^ Benefits

ICICI Pru iProtect Smart

Monthly income `2 payout (Optional)

Increasing Monthly Income ~` Payout (Optional)

Lumpsum + Monthly Income `! Payout (Optional)

1 Day Claim Settlement >

At your Doorstep claim assistance

Smart Exit ° Option

34 Critical Illnesses Cover ##\ (Optional)

Accidental Death Cover 9 (Optional)

Permanent Disability Waiver 5

Tax ^ Benefits

Term Insurance Calculator

Steps to buy

How the plan works? Play Video

Term Plan

Additional Benefits

Term Plan Calculator

What is a Term Plan?

When should I buy a term plan?

Who should buy a term plan?

How much term insurance cover do I need?

What is limited pay option?

Which payout option should I choose?

What are the benefits of a term insurance premium calculator?

What is Accidental Death benefit9 (optional)?

What is Critical Illness benefit##(optional)?

What is Inbuilt Terminal illness benefit3?

What is Inbuilt Permanent disability benefit5?

What is a Term Insurance calculator?

How does a term insurance calculator work?

How is your term insurance premium calculated?

Steps to use the term insurance premium calculator

Rider Options With ICICI Pru Life Plans

Claim Settlement Process

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Process

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Why choose ICICI Prudential Life?

Frequently Asked Questions

Affordable ^!1 cover in one go

100% Premium Refund Option ^°

1 Day Claim Settlement ^>

Over ₹1,800 Cr Volume Of Claims ^ε Closed

Extra cover option for 34 illnesses ^## like Cancer

Accidental Death Cover (Optional) ⁹

Tax ^{^} Benefits

Terminal Illness Benefit ³

Permanent Disability Waiver ⁵

34 Critical Illnesses Benefit ^##

Accidental Death Cover ⁹

In-Built Terminal Illness Benefit ³

In-Built Permanent Disability Waiver ⁵

1 Day Claim Settlement ^>

Tax ^{^} Benefits

Monthly income ^`2 payout (Optional)

Increasing Monthly Income ^~` Payout (Optional)

Lumpsum + Monthly Income ^`! Payout (Optional)

1 Day Claim Settlement ^>

Smart Exit ^° Option

34 Critical Illnesses Cover ^##\ (Optional)

Accidental Death Cover ⁹ (Optional)

Permanent Disability Waiver ⁵

Tax ^{^} Benefits

What is Accidental Death benefit⁹ (optional)?

What is Critical Illness benefit^##(optional)?

What is Inbuilt Terminal illness benefit³?

What is Inbuilt Permanent disability benefit⁵?