ICICI Pru iProtect Smart was awarded Best Term Insurance Provider of the Year 2017-18 at Money Today Financial Awards. This is another feather in the cap for a product, which is an all-round protection plan with features addressing consumer’s most pressing needs.

Let’s check these features, which make it a must-buy for anyone seeking financial protection for their families and themselves:


ICICI Pru iProtect Smart goes beyond being a term life insurance plan, by providing payout in case someone is diagnosed with any of the 34 listed critical illnesses. This claim can be processed without hospital bills - merely with a doctor’s certification of diagnosis. This payout can help to pay for your treatment adequately and gives you a better shot at recovery, even if it is a critical illness. This benefit is optional and can be availed for a period of 30 years.
Everyone wants to be protected for the longest time possible. And ICICI Pru iProtect Smart does just that, by giving cover till the age of 99 years. The premium stays the same for the whole policy term, thereby making an early buy a very prudent choice.
Accidental deaths can deal the harshest of blows to a family, as it’s always unexpected and sudden. With ICICI Pru iProtect Smart, you can ensure adequate protection by paying only a nominal extra premium with the Accidental Death Benefit. With this benefit, your nominee will receive a higher payout in case of the death of the person insured due to an accident. You can add this benefit any time after purchase as well.

Your intention of buying a term plan is financial protection of your family, which can be ineffective without the right kind of options at the time of payout. With 4 options – Lump sum, regular income, increasing income and lump sum + regular income, iProtect Smart goes a long way in assuring that your family’s needs are met when it matters the most.

  • Lumpsum Plus Income: This is our newest payout option. With this option, the Life Cover will be paid in two parts as selected by you at policy inception. For example, if your life cover is ₹ 1 crore, you can choose to give ₹ 50 lakh as a lumpsum 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.
  • Income: Premium is the lowest when you choose this payout option. You can choose this option if you want your nominee to receive a regular monthly income. For a Life Cover of ₹ 1 crore, the monthly income payout will be ₹ 83,333/- and will continue for 10 years.
  • Increasing Income: This payout option gives 45% more life cover. Choose this option if you want your nominee to receive an increasing regular income. If your Life Cover is ₹ 1 crore, then your nominee will receive ₹ 10 lakh in the first year, ₹ 11 lakh in the second year, ₹ 12 lakh in the third year and so on. At end of the 10th year, the total life cover received will be ₹ 1.45 crore. Your nominee will receive monthly instalments for 10 years. Income amount will increase by 10% p.a. simple interest every year.
  • Lumpsum: This is our most popular payout option (Source: Company BuyOnline data – Dec 2015 till date). The Life Cover will be paid as a fixed lump sum. For example, if you choose a Life Cover of ₹ 1 crore, your nominee will receive the same as lump sum amount.



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^The critical illness benefit is an accelerated benefit and the death benefit will be reduced by the critical illness cover paid to the policyholder. The future premiums payable for the residual CI Benefit will reduce proportionately. In case the CI Benefit is equal to the Death Benefit, the policy will terminate on payment of the CI Benefit. Only a doctor’s certificate confirming the diagnosis needs to be submitted. On payment of Angioplasty, if the CI Benefit is more than `5,00,000 the policy will continue for other CIs with CI Benefit reduced by Angioplasty payout. To know more about the illnesses covered, please refer to the Sales brochure. Available under Life and Health and All in One option.
ICICI Pru iProtect Smart UIN 105N151V06 ADVT - W/II/2688/2018-19


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