- a. Return of premium as lump sum: where all premiums are returned as a one-time benefit to the customer
- b. Return of premium as regular income: where all premiums are returned in the form of regular income for a period of 5, 7 or 10 years as chosen by the customer.
Term Insurance with Return of Premium
Protect your family with a life cover and get your premiums back
- Return of Premium
- Life cover to secure your loved ones+
- Tax^ benefits up to ₹46,800 u/s 80C and 10(10D)
Term Plan with Return of Premium Calculator
Term Plan with Return of Premium Calculator
What is Term Plan with Return of Premium (TROP)?
What is Term Plan with Return of
ICICI Prudential iProtect Smart Return of Premium offers the benefits of a term insurance plan along with return of premiums paid. It is an ideal choice for people looking for life insurance cover with assured return of premium. Unlike other TROP offerings, you need not wait till the end of the policy term for your return of premium. Instead, get your premiums back when you need them the most, as a lump sum or regular income for 5, 7 or 10 years and the life cover continues for the entire policy duration.
How does the plan work?
With this plan you can choose from two options to get the return of premium
as Lump Sum OR Return of Premium
as Regular Income
All the premiums paid are returned back, either as a lump sum or regular income at the end of the policy term or during the policy term while your life cover continues for the rest of the policy duration for ICICI Pru iProtect Smart.
You can take a loan against ICICI Pru Guaranteed Income For Tomorrow policy to help you in case of financial emergencies. ICICI Prudential iProtect Smart Return of Premium doesn’t just provide financial security, but also helps you in times of need.
Get tax^ benefits on premium paid upto Rs 46,800 u/s 80C and on maturity proceeds u/s 10(10D).
(covering COVID-19 life claims)8
Life cover for the entire policy term so that your family is financially secured even in your absence
Return of Premium Options
All premiums are returned as one lump sum
Ajay is a 30 year old male. He wants to take a life cover of ₹1 Cr to remain covered till the age of 60 under ICICI Pru iProtect Smart and also wants to get return of premium after 15 years. He pays premiums for 7 years under ICICI Pru iProtect Smart Return of Premium and gets a guaranteed lump sum amount of ₹4,16,106 as return of premium after 15 years through ICICI Pru Guaranteed Income For Tomorrow. The life cover continues for the entire policy duration i.e. 15 years under ICICI Pru Guaranteed Income For Tomorrow and 30 years under ICICI Pru iProtect Smart.
|Premium under ICICI Pru iProtect Smart:||₹27,356 p.a.|
|Premium under ICICI Pru Guaranteed Income For Tomorrow:||₹32,087 p.a.|
Premiums are returned in instalments over a period of 5, 7 or 10 years
Anil is a 30 year old male. He wants to take a life cover of ₹1 Cr to remain covered till the age of 70 under ICICI Pru iProtect Smart. He decides to take the return of premium as regular income in annual instalments for 10 years. He pays premiums for 10 years under ICICI Pru iProtect Smart Return of Premium and gets regular instalments of ₹60,608 p.a. for 10 years through ICICI Pru Guaranteed Income For Tomorrow. The life cover continues for the entire policy duration i.e. 11 years under ICICI Pru Guaranteed Income For Tomorrow and 40 years under ICICI Pru iProtect Smart.
|Premium under ICICI Pru iProtect Smart:||₹29,383 p.a.|
|Premium under ICICI Pru Guaranteed Income For Tomorrow:||₹31,225 p.a.|
You can depend on us
Lives covered as on March 31, 2021
Benefits paid till March 31, 2021`
Assets Under Management as on March 31, 2021
30 Day Return Policy
If not satisfied, return (free look) the policy and get your money back
3 Easy Steps to Buy Online
Frequently Asked Questions
- a.Accelerated Critical Illness Cover#: Receive payout on diagnosis of any of the covered critical illnesses. 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.
- b. Accidental Death Benefit##: Receive additional lump sum benefit in case of death due to accident
1Data regarding AUM is as per Annual Report 2020-2021. Please refer to the same for further details
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 ICICI Pru iProtect Smart.
*Data regarding lives covered is as per Annual Report 2020-2021. Please refer to the same for further details
`As per Financial Statements (Schedule 4- Benefits paid (Gross))of the company, benefits paid since inception up to March 31, 2021.
^Tax benefits under the policy are subject to prevailing conditions and provisions of the Income Tax Act, 1961. Goods and Services Tax and Cesses, if any, will be charged extra as per prevailing rates. Tax laws are subject to amendments made thereto from time to time. Please consult your tax advisor for details, before acting on above.
+Life Cover is the benefit payable on death of the Life Assured during the policy term.
#Accelerated Critical Illness Benefit (CI Benefit) is optional and available under Life and Health and All in One option under ICICI Pru iProtect Smart. This benefit is payable, on the first occurrence of any of the 34 illnesses covered. For the Critical Illness Benefit’s claim, 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 CI Benefit is accelerated and not an additional benefit which means the policy will continue with the Death Benefit reduced by the extent of the CI Benefit paid. In case of Angioplasty, the maximum benefit payable under a policy is restricted to ₹5,00,000. On payment of claims for treatment of Angioplasty, if CI Benefit is more than ₹5,00,000 the policy will continue for other covered CIs with CI Benefit reduced by Angioplasty payout. The future premiums payable under the policy will reduce proportionately. If CI Benefit paid is equal to the Death Benefit, the policy will terminate on payment of the CI Benefit. To know more in detail about CI Benefit, terms & conditions governing it, kindly refer to the sales brochure. CI Benefit will be applicable for the entire policy term or 30 years or till the age of 75 years, whichever is lower.
##Accidental Death Benefit is available in Life Plus and All in One option under ICICI Pru iProtect Smart. In case of death due to an accident, Accidental Death Benefit will be paid out in addition to Death Benefit. Accidental Death Benefit is only available for the policy term or till the age of 80 years, whichever is lower.
ICICI Pru Guaranteed Income for Tomorrow UIN - 105N182V02
ICICI Pru iProtect Smart UIN 105N151V06
Advt no. :- W/II/3695/2021-22
© 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. Customer helpline number - 1860 266 7766. Timings – 10:00 A.M. to 7:00 P.M., Monday to Saturday (except national holidays). 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.
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