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Term Insurance Calculator i

Term Insurance Calculator i

Husband’s Personal information-
Choose 'Yes' if you have smoked or chewed tobacco in the last 12 months
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Existing customers can enter the registered mobile number to avail a shorter application form and waiver of documents (if applicable)
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Your life insurance cover limit will be calculated basis your income. You may be asked to provide an income proof at the time of purchase.
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Know how limited pay works
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Here's what a 32-year-old healthy male with a life cover of ₹1 crore and policy term of 53 years would pay1
Limited Pay
Monthly premium : ₹9,251
Total premium : ₹5,55,060
Saved ₹ 8,32,056
Savings 59.98%
Regular Pay
Monthly premium : ₹ 2,181
Total premium : ₹ 13,87,116
Savings 0%

Steps to buy

Calculate your & your wife’s term insurance premiums
Submit documents
for both
Make payment for both the policies
Make payment for both the policies
Complete medical check-up for both
Policy issued

Quick Guide to your plan

Term Plan

Additional benefits

Term Plan Calculator

Quick Guide to your plan

Term
Plan
Additional
benefits
Term Plan
Calculator
What is a Term Plan?
Term Insurance plan is a simple and pure risk cover form of life insurance. It provides financial protection to your family against a fixed premium paid for a specified term. You can get a large amount of term insurance cover (sum assured) at affordable premiums. The nominee receives the term insurance amount in case of death of the policyholder
When should I buy a term plan?
The earlier you buy a Term Plan, the better it is as the premiums are lower when you are young. Also, with current lifestyles and increasing instances of illnesses, it may become difficult to get a term plan later, as you grow older
Anil, 30 years old
Non-smoker
Policy duration:
30 years
Premium:
₹885 p.m
Arun, 40 years old
Non-smoker
Policy duration:
30 years
Premium:
₹1,784 p.m
Who should buy a term plan?
Parents
If you have children or dependent adult family members and are responsible for paying for their needs and upkeep then you must buy a term plan
Young individuals
The premium for term insurance increases with age. So it makes smart sense for young professionals without financial liabilities to buy term plan early - this way they get lower premium rates and the rates will not increase over time
Newly married couples
A term plan can help you create a financial safety net for your growing family so that their dreams are never compromised, even when you are not around
Home loan repayment
In case of an unfortunate incident, the responsibility of paying the outstanding loans should not fall on your loved ones. In case of your unfortunate demise, the death benefit payout from the term plan can be used by your family to repay your loans
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 compromised. A term insurance premium calculator will help you in choosing the term insurance cover well suited to your budget
What is limited pay option?
With the limited pay option, you can pay premiums for a specific pre-agreed period of time (5, 7 or 10 years) and enjoy the term insurance cover for the whole policy duration, irrespective of the premium payment period. You can save up to 65%** over the entire policy duration with this option
Which payout option should I choose?
Our Term Insurance Plan has four payout options:
  1. Lump sum - The entire life cover is payable as a lump sum (single payment)
  2. Regular income - 10% of the life cover is payable every year for 10 years. This is paid in equal monthly installments
  3. Increasing Income - The life cover is payable in monthly installments for 10 years starting with 10% of the life cover in the first year. The income amount will increased by 10% per annum thereafter
  4. Lump sum + Income - You have the flexibility to split the life cover amount that you want your nominee into two parts - one part of the life cover as a lump sum and the remaining life cover will be paid in equal monthly payments for 10 years
What are the benefits of a term insurance premium calculator?

  1. Flexibility to customise - The term insurance calculator gives you the flexibility to design your term plan as per your needs. You can pick and choose your own life cover amount, choose to strengthen your coverage by adding riders, choose the premium payment term and payout method as per your financial plan.
  2. Efficient - The term insurance premium calculator can generate a customised quote for you within 2 minutes And all of this is free of charge
What is Accidental Death benefit9 (optional)?
In case the policyholder dies due to an accident during the policy term, the nominee/legal heir will be paid an extra amount. A maximum cover of ₹2 crore is available with this benefit, which you can add during purchase or even after the purchase
Anil - Age 30
Anil chooses a life cover of ₹1 crore with accidental death benefit cover of ₹50 lakh.
Anil - Age 45
Anil dies due to an accident and his nominee gets ₹1.5 crore
What is Critical illness benefit##(optional)?
Critical illness benefit pays claim amount on first diagnosis of any of the 34 critical illnesses. It means that just a photo copy of diagnosis report is needed and no hospital bills are required to initiate the claim. For women, there is an option to cover critical illnesses like breast cancer and cervical cancer as well. Once the claim for critical illness is paid out, the life insurance cover minus the critical illness cover stays in force with reduced premium.
What is Inbuilt Terminal illness benefit3?
If the policyholder is diagnosed with a terminal illness like AIDS, full sum assured is paid out immediately. This is an in-built benefit and thus, comes at no extra cost
Anil - Age 30
Anil buys ICICI Pru iProtect Smart with a life cover of ₹1 crore
Anil - Age 45
He is diagnosed with a terminal illness. His entire life cover amount is paid to him.
What is Inbuilt Permanent disability benefit5?
The policyholder does not need to pay future premiums in case of permanent disability due to an accident. The life cover continues for the entire policy term. This is an in-built benefit and thus, comes at no extra cost
Ajay- Age 32
Ajay buys ICICI Pru iProtect Smart with a life cover of ₹1 crore and a policy term of 30 years.
Ajay- Age 45
Ajay meets with an accident and he was not able to move, climb or bend. The company waived off all his future premiums and the life insurance cover stayed in force for the entire policy term.
What is a Term Insurance calculator?
A term insurance plan offers you a life cover in exchange for a premium. This premium is directly proportional to the sum assured and tenure of your plan. A high sum assured and long tenure may result in a high premium and interfere with your budget. On the other hand, a low sum assured and short tenure may get you a low premium but may not be adequate for your family's future requirements.
Ascertaining the right premium, sum assured, and tenure can be confusing. But a term plan calculator can help you.
A term insurance calculator is an online tool that lets you calculate term insurance premium for your plan. You can use the term insurance calculator free of charge and understand the estimated premium amount of your desired plan. Using a term insurance calculator is simple and completely hassle-free. All you need to do is add a few details like your name, age, annual income, etc., and the calculator will calculate term insurance premium for you.
How does a term insurance calculator work?
The term insurance calculator takes into account details like your age,lifestyle habits like smoking or drinking, income, age, gender, policy term, sum assured, riders, etc. and calculates an estimated premium amount for the chosen plan. You can also choose premium payment options like monthly, half-yearly, annual, etc., to get a clear picture of the premium amount for each option.
The term plan calculator gives you estimate based on the information you feed. So, if you change any of the information, the calculator will show you a different result.
How is your term insurance premium calculated?
Various factors can determine your term plan premium, such as your age, gender,income, lifestyle habits, occupation, policy term, sum assured amount, additional riders, medical history, premium payment term, and the frequency of premium payment. Starting point to know your premium would be through a term insurance calculator
Steps to use the term insurance premium calculator
You can follow these steps when using a term insurance calculator:
  1. Enter your name, email address, and phone number
  2. Enter your date of birth and gender
  3. Enter your annual income
  4. Mention lifestyle habits like smoking, consuming tobacco or alcohol (if any)
  5. Enter policy related details like the life cover amount, policy tenure, premium payment method, frequency of premium payment (monthly, half-yearly, annual, etc.)
  6. Choose riders like the terminal illness benefit, the critical illness benefit, the permanent disability benefit, or the accidental death benefit. Riders are optional, but you can add them if you want additional protection
The term plan calculator will provide you with an estimated premium amount instantly. If you are not satisfied with the result, the term insurance premium calculator allows you to tweak the information, like increase or decrease the life cover amount, shorten or extend the policy tenure, add or remove riders, etc.

Why choose ICICI Prudential Life?

5.81 crore%
Lives covered as
on March 31, 2022
₹2.04 lakh crore`
Benefits paid till
March 31, 2022
₹2.4 lakh crore18
Assets under
management as on
March 31, 2022
30 Day Return Policy
If not satisfied, return
(free look) the policy and
get your money back
If not satisfied, return (free look) the policy and get your money back

Frequently Asked Questions

Limited Pay is an option where you can choose to pay premium for a limited period while enjoying the benefits of the plan for the entire policy term. This sets you free from the burden of paying premiums early on, while keeping your family secured for a long period of time. With the limited pay option, you can end up saving up to 65%** on total premiums paid.
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.
Under the limited pay premium payment option, you can pay your premiums for only 5 years, 7 years, 10 years or policy term - 5 years
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.
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.
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 ₹540 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.
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 customised to your needs : The life insurance policies provided by your employer are standardized policies which are not customised 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.
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.
Yes, the minimum and maximum age for buying a term plan are 18 and 60 years respectively.
There are various factors you need to consider when selecting the best term plan. 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 ₹2.40 tn18 (as on Mar 31, 2022).
  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 plan, you can get your claim settled within 1.5 days>. The company has a claim settlement ratio of 97.9% (FY 2020-21) ~ 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 .
  3. 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 coverage 9 up to ₹2 crore.
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 plan 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).
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 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
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.
ICICI Prudential Life term plan comes with two in-built benefits:
  1. Terminal illness benefit: You receive 100% claim payout in case you contract a terminal illness 3
  2. Permanent disability benefit: All your future premiums are waived off while your policy continues if you get a permanent disability 5
Refer to our product guide to know more about these benefits.
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.

4#This advertisement is designed for combination of Benefits of two ICICI iProtect Smart (a non-linked term insurance plan; UIN: 105N151V07) policies, one for you and one for your spouse. These products are also available for sale individually without the combination offered / suggested. This benefit illustration is the arithmetic combination and chronological listing of combined benefits of individual products. The customer is advised to refer to the detailed sales brochure of respective individual products mentioned herein before concluding the sale.

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

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 practitioner’s 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 practitioner’s registered with the Indian Medical Association and approved by the Company. The Company reserves the right for independent assessment.

5In case of permanent disability due to an accident, all future premiums are waived off and the life cover continues for the remaining policy duration. This benefit comes in-built in your term insurance policy without any extra cost to you. 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.

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

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.

13The premium of ₹407 p.m. has been approximately calculated for an 25-year-old healthy male life with the monthly mode of payment and premiums paid regularly for the policy term of 32 years with income payout option with Life cover of ₹51 lakh. . Goods and Services tax and/or applicable cesses (if any) as per applicable rates will be charged extra.

'‘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.

>1 Day is a working day, counted from the day of receipt of all relevant documents from the claimant, additional information sought by the Company and any clarification received from the claimant. The Company will be calling the claimants for verification of information submitted by the Claimant which will also be considered as part of relevant documents. Working day will be counted as Monday to Friday and excluding national holidays/ Bank holidays/ Public holidays.

14The premium savings of ₹ 7,38,660 has been calculated by taking a difference in the total premiums to be paid by a 35 year old healthy male life if he chooses 5 years Limited Pay option versus if he chooses regular pay option, for a policy term of 50 years with income payout option with Life cover of ₹ 1 crore in both the scenarios. The monthly premium for 5 years for limited Pay option will be ₹ 8,809. The monthly premium for regular Pay option will be ₹ 2,112.The premium amounts are inclusive of taxes.

K3For the scenario of a husband’s SA of 1cr and wife’s SA of 50L, Husband aged 25 years old and wife aged 23 years old, both paying premiums monthly and with a policy term of 20 years and death benefit payout option of income, the monthly premium for husband’s policy is ₹ 659 and monthly premium for wife’s policy is ₹ 379. Therefore, total monthly online premium inclusive of taxes is ₹ 1038.

††The percentage has been calculated by comparing the premium for a 34 year old healthy male and 34 year old healthy female, for a life cover of ₹ 1 crore & an accelerated critical illness benefit of ₹ 10 lakh for a policy term of 26 years for a lumpsum payout option for a regular premium pay mode. The premium (inclusive of taxes) for this case for the male is ₹ 20946 per annum and for a female is ₹ 17096 per annum

K1You can choose to increase the Death benefit at the key milestones of marriage and child birth/ adoption of child, provided no claim has been admitted for any benefits under the policy and the policy is in force.

On exercising the option, You will have to pay an additional premium for the additional Sum Assured for the outstanding term of the policy based on your then age. This feature is available only with Regular premium payment option. Such increase in sum assured is only applicable to base death benefit. The ACI benefit and AD benefit will remain unchanged.

Event Additional Death benefit (percentage of original Sum Assured) Subject to maximum additional Death benefit
Marriage 50% ₹ 50,00,000
Birth / Legal adoption of 1st child 25% ₹ 25,00,000
Birth / Legal adoption of 2nd child 25% ₹ 25,00,000

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

15Documents may be required based on assessment of case.

18Data regarding AUM is as per Annual Report 2021-2022. Please refer to the same for further details

20 To read the full article, click Source: https://www.thehindubusinessline.com/money-and-banking/term-insurance-premium-set-to-rise-as-reinsurers-tighten-norms-due-to-pandemic/article36790831.ece

2a The premium of ₹540 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 36 years with income payout option with Life cover of ₹1 crore. Goods and Services tax and/or applicable cesses (if any) as per applicable rates will be charged extra.

4a The premium of ₹632 p.m. has been approximately calculated for a 18 year old healthy male for a life cover of ₹1 crore and an accelerated critical illness cover of ₹10 lakh under the Life & Health Option for a regular income payout option for a policy term of 31 years is ₹7,396 p.a. (exclusive of all taxes). Goods and Services tax and/or applicable cesses (if any) as per applicable rates will be charged extra.

5aThe above monthly premium of ₹479 is for a 25 year old healthy, non-smoker male paying premiums regularly for a policy term of 23 years and life cover of ₹50 lakhs with death benefit payout option as lump sum. The above premium is online and inclusive of taxes.

8a The monthly premium of ₹311 is for a 18 year old healthy non-smoker male, paying premiums regularly for 20 years for a life cover of ₹50 Lakh and death benefit payout option as income. The premiums are exclusive of taxes.

9aThe above monthly premium is for a 18 year old healthy non-smoker male, paying premiums regularly for 19 years for a life cover of ₹1 crore and death benefit payout option as income. The premiums are exclusive of taxes

4zThe monthly premium of ₹364 is for a 18 year old healthy non-smoker male, paying premiums regularly for 20 years for a life cover of ₹50 Lakh and death benefit payout option as lump sum. The premiums are exclusive of taxes.

# 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 ₹54,600(₹46,800 u/s 80C & ₹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 ₹1,50,000 and health premium u/s 80D of ₹25,000. Tax benefits subject to conditions under Sections 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.

~Claim statistics are for Financial Year FY2020-21 and is computed on individual basis claims settled over total individual claims for the financial year. For details, refer to Public Disclosures in our website.

`As per Financial Statements (Schedule 4- Benefits paid (Gross))of the company, benefits paid since inception up to March 31, 2022.

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.

‘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 with regular pay option, 'life' option and regular income payout option. Premium amount will differ according to the age and benefit option chosen.

☩The premium of ₹868 p.m. has been approximately calculated for a 25 year old healthy non-smoker male life with monthly mode of payment and premiums paid regularly for the policy term of 37 years with income payout option with Life cover of ₹1 crore. Goods and Services tax and/or applicable cesses (if any) as per applicable rates is included.

\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 annual offline premium for a 41 year old for a life cover for ₹1 cr with a policy term of 30 years, regular pay with lump-sum payout mode is. ₹30,733. The annual online premium for a 41 year old for a life cover for ₹1 cr with a policy term of 30 years, regular pay with lump-sum payout mode is. ₹29,197. Both premiums are inclusive of taxes. The difference in total premium paid over the policy term in both the scenarios will be ₹46,080

₸ 31,869,345 lives covered across our individuals and group customers as per ICICI Prudential Q4 FY20 Report (L25 I and L25 ii). Please refer to Public Disclosure section on ICICI Prudential website for more details.

% 58.1 mn lives covered across our individuals and group customers as per ICICI Prudential Annual Report 2021-22. Please refer to Public Disclosure section on ICICI Prudential website for more details.

$$As per Internal Data of policies sold for Product: ICICI Pru iProtect Smart from Apr’21-Mar’22 in the BOL Channel.

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

++The premium of ₹655 p.m. has been approximately calculated for a 23 year old healthy male for a life cover of ₹1.5 crore, Life Option, under the regular income payout option for a policy term of 24 years is ₹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.

+++Based on number of policies sold online between April 2021- March 2022, 35% of our online customers purchase the optional critical illness benefit rider with their policy.

##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 ₹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.

/Tax benefit of ₹ 54,600 (₹ 46,800 u/s 80C & ₹ 7,800 u/s 80D) is calculated at highest tax slab rate of 31.2% (including Cess excluding surcharge) on life insurance premium u/s 80C of ₹ 1,50,000 and health premium u/s 80D of ₹ 25,000. Tax benefits under the policy are subject to conditions under Sections 80C, 80D, 10(10D), 115BAC and other 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 more details.

[?The premium of ₹1190 p.m. has been approximately calculated for a 35 year old healthy male life with monthly mode of payment and premiums paid regularly for the policy term of 25 years with income payout option with Life cover of ₹1 crore. Goods and Services tax and/or applicable cesses (if any) as per applicable rates is included.

?/The above calculations are made for 25,35 & 45 year old healthy male who has opted for Regular Pay premium payment option with a policy term till 60 years of age under Life option with a life cover of ₹ 1 crore with Income payout option. The above premiums are calculated for a month & are inclusive of taxes.

?}The above calculations are for a 35 year old healthy male who has opted for Regular Pay premium payment option with a policy term of 25 years under Life option with a life cover of ₹ 1 crore with Income payout option. The above premiums are calculated for a month & are inclusive of taxes.

!aLife cover is the benefit payable on death of the life assured during the policy term.

¶¶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 options for payment that is Single pay, 5 pay, 7 pay, RP, 60 Year-Age and PT – 5 years. For more details, please refer product brochure.

1bThe monthly premium of ₹485 is for a 18 year old healthy non-smoker male, paying premiums regularly for 19 years for a life cover of ₹1 crore and death benefit payout option as income. The premiums is exclusive of taxes.

~‘Increasing income’ is one of the four death benefit payout options available under ICICI Pru iProtect Smart. Under this option, 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. At any time, your beneficiary will have the option to convert all or some of his monthly income into a lump sum. The lump sum amount will be the present value calculated at a discount rate of 4% p.a. The premium for your policy will vary based on the Death benefit payout option chosen.

!The premium of ₹ 1,023 p.m. has been 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 ₹ 1 crore, critical illness cover of 20 lakh and accidental death benefit cover of 50 lakh. The premium amounts are inclusive of taxes.

//As per Internal Data of policies sold for Product: ICICI Pru iProtect Smart from Apr’21-Dec’21 in the BOL Channel

///As per Internal Data of policies sold for Product: ICICI Pru iProtect Smart from July’21-Dec’21 in the BOL Channel

^^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.

^*The premium for a 30 year old non-smoker healthy male with a life cover of ₹3 crore under the ICICI Pru iProtect Smart – Life Option with income payout option for a policy term of 30 years under Regular Pay is ₹1970 pm (inclusive of all taxes).

>>The premium for a term plan is dependent on factors like age, gender, Sum Assured. Policy Term, etc. Keeping all other factors constant, the premium for younger ages is lower than that of higher ages.

*^Source: Company BuyOnline Data-Apr 2021 till date

☩☩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 Crore, 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.

Two policies of ICICI Pru iProtect Smart. UIN: 105N151V07 W/II/1515/2022-23

k2For the scenario of a husband’s SA of 1cr and wife’s SA of 50L, both aged 25 years old, both paying premiums monthly and with a policy term of 25 years and death benefit payout option of income, the monthly premium for husband’s policy is ₹ 683 and monthly premium for wife’s policy is ₹ 395. Therefore, total monthly online premium inclusive of taxes is ₹ 1078.

Comp code - COMP/DOC/Apr/2022/84/0030

Comp code (negative pincode) - COMP/DOC/Dec/2021/112/7011.

Comp code (Did you know?) - COMP/DOC/Feb/2022/42/7340.

Comp code (Did you know?) - COMP/DOC/Feb/2022/102/7387.

Comp code (Medical Checkup) - COMP/DOC/Jun/2022/286/0671.

Comp code - COMP/DOC/Sep/2022/59/1069.

Comp code - COMP/DOC/Sep/2022/219/1161.

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