The new way of buying term life insurance
Have you heard of the limited pay option available with our
term plan? This option makes your
term insurance much cheaper. Wondering how? Well, the plan is designed this way. All you have to do is select the amount of life cover you need, then select the payment option as limited pay. You will get multiple options to
pay (i.e. 5 years, 10 years, etc). Pick the option that suits you best and save much more of your premium. Remember that premium increases with your age, so make sure you buy today so that you lock in the best premium rate!
Benefits of our top selling term plan^^
Protection till age 99 years1
Get life cover till age 99 years at affordable rates so that your loved ones are financially secure in your absence.
Waiver of premium2
In case of permanent disability due to accident, your policy continues without you having to pay any premiums.
100% Payout (Terminal Illness2)
If diagnosed with a Terminal Illness, we pay you the complete Sum Assured as per your selected payout option.
Tax benefits
Save tax up to ` 54,600^ u/s 80C & 80D of Income Tax Act 1961.
Pay for limited period
Flexibility to pay for shorter period (i.e. 7 years or 10 years) and get cover for the full policy term.
Critical illness cover (optional)
Payout up to `1 Crore in case of 34 critical illnesses##.
You can depend on us
Award Winning Protection
Voted 'Best Term Insurance Provider' at Money Today Financial Awards 2017-18
Service Assurance
Your policy will be issued in 72 hours on receipt of all documents and medical reports.
30 Day Return Policy
If not satisfied, you can return (free look) the policy and get your money back.
Check Our Score Card
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Lives Covered
26,235,328Across our individuals & group customers as per Monthly Life Council Report as on March 31, 2019.
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Benefits paid
`1,29,299 CRAs per Financial Statements (Schedule 4- Benefits paid (Gross))of the company, benefits paid since inception up to March 31, 2019.
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Sum Assured
`11,25,064 CRTotal Sum Assured figure as per Monthly Life Council Report as on March 31, 2019.
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Assets Under Management
`1,60,409.91 CRTotal assets under management, held at March 31, 2019
Howit works
Rakshak 50 Year old, Senior Manager
He wants to create an inheritance for his family so that they are financially secure from his loans and other liabilities.
His family included his 48 year old wife, his 22 year old daughter and 18 year old son.The daughter was doing her MBA and the son was pursuing engineering.
Rakshak buys ICICI Pru iProtect Smart
- He purchased ICICI Prudential iProtect Smart term insurance plan online for a life cover of `3 Cr
- He selected the new payout option: Lump sum + regular income. With this option, in case of his death, the family would get a large amount followed by regular income for 10 years.
Rakshak’s untimely death
- After 5 years, Rakshak suffered a massive heart attack and could not survive.
- The family went into emotional shock. His children did not know what to do about their future. His daughter was yet to be married and his son was still in college.
Family received the benefits
- His wife made the claim and the family received `1.50 Cr as a lump sum and `1,25,000 every month for 10 years.
- His daughter got married, son completed engineering and pursued further studies abroad. The remaining amount, his wife has saved for her grand children.
Prerana buys ICICI Pru iProtect Smart
- Prerana chooses a life cover of `2 Crore with a policy term of 67 years (whole life cover till age 99)
- She pays an annual premium of `41,702(incl. of taxes) with Regular Payment option
- She chooses lumpsum payout option of `1 crore to be paid out as a regular income of `83,333 per month for the next 10 years
Prerana’s unforeseen death
- Her son and daughter receive a lumpsum payout of `1 crore and Regular Income of `83,333 every month for the next 10 years.
Jeevan 40 Year old, Senior Manager
He wants to build a huge inheritance corpus to ensure that his family’s future is always secure from any liabilities and disputes. He also wants to create a corpus for critical illnesses to cover the high medical treatment costs that come with a critical illness when he gets older.
Jeevan buys ICICI Pru iProtect Smart
- He chooses a life cover of `2 Crore & a critical illness cover of `20 lakh
- He chooses Lump Sum payout option & a whole life policy (till age 99) and gets a 59 year policy term
- He pays an annual premium of `94,743 yearly (incl. of taxes) with Regular Payment option.
Jeevan is diagnosed with a critical illness
- Critical illness cover of `20 lakhs is paid out as lump sum to Jeevan immediately
- Life cover reduces to `1.8 crore
- Premium reduces to `70,159 (incl. of taxes)
Jeevan's untimely death
- His nominee gets a lump sum payout of `1.8 crore
Payment Options
We support multiple payment options and your transactions are totally secure.
Credit Card Debit Card Netbanking Wallets UPI BharatQR
Contact Us
Our insurance experts are always available to solve any doubts that you may have and help you with anything about your policy
This is how you save with limited pay option
X
Regular pay
Limited Pay
30 years
5 years
7 years
10 years
10 years
10 years
Pay 1
916
3121
2353
2086
2086
2086
Total Premium
329760
187260
197652
250320
250320
250320
Premium Save
142500
132108
79440
79440
79440
%age saving
43%
40%
24%
24%
24%
Please give us a missed call on 180030006999 (tollfree)
Call centre hours 9.30 a.m. – 6.30 p.m., Monday - Saturday
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Take a selfie, get a term plan quote in seconds!
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Get a quote with your selfie!
We use artificial intelligence and machine learning to estimate our age, gender and some lifestyle related factors
Tips to get your selfie quote:
- > Make sure the background is well lit
- > Remove eye wear/ spectacles
- > Push hair away from your face
- > look straight into the camera
- > Ensure your face fits within the yellow box
- > Keep camera/ phone at arm's length
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Dear ICICI Employee,
Congratulations, on securing your family’s future
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