Our Term Plans Offering
|Feature||ICICI Pru iProtect Smart||ICICI Pru Precious Life|
|Category||Term Insurance||Term Insurance|
|Minimum Entry Age||18 years||18 years|
|Maximum Entry Age||65 years(except for Pay till 60 premium payment mode in which case, 55 years)||65 years|
|Maximum Maturity Age||99 years||70 years|
|Minimum Sum Assured||As per premium||₹ 2,00,000|
|Maximum Sum Assured||Unlimited||Unlimited|
|Minimum Annualised Premium||₹ 2,400||₹ 2,400|
|Policy Terms||5 - 81 years||5 - 40 years|
|Whole Life Cover||Yes||No|
|Premium Paying Options||Single, Regular, Limited or 60 - age at entry||Single, Regular or Limited|
|Premium Payment Frequency||Single, Yearly, Half-yearly, Monthly||Single, Yearly, Half-yearly, Monthly|
|Tax benefit under Section 80 C||Yes||Yes|
|Tax exemption on benefits under Section 10 (10) (D)||Yes||Yes|
|Lump sum Payout||Yes||Yes|
|Lump sum + Income||Yes||Yes|
|Critical Illness Protection (optional)||Yes||No|
|Accidental Death Benefit(optional)||Yes||No|
|Can Accidental Death Benefit cover be added later during the Policy term?*||Yes||No|
|Terminal Illness Benefit||Yes||No|
Salient features of Term Insurance Plans
Accident Death Benefit (Optional)+
Critical Illness Protection^
Terminal Illness Protection3
Life Stage Protection
Flexibility of Payout
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^Critical Illness Benefit (CI Benefit) is optional and available under Life and Health and All in One options under ICICI Pru iProtect Smart. This benefit is payable, on first occurrence of any of the 34 illnesses covered. Only doctor's certificate confirming diagnosis 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 ICICI Pru iProtect Smart policy will continue with the Death Benefit reduced by the extent of the CI Benefit paid. On payment of claims for treatment 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. Premium payment on account of CI Benefit will cease after payout of CI Benefit and the future premiums payable under the policy for death benefit will reduce proportionately. If CI Benefit paid is equal to the Death Benefit, the ICICI Pru iProtect Smart policy will terminate on payment of the CI Benefit. To know more in detail about CI Benefit, terms & conditions governing it, kindly refer to sales brochure of ICICI Pru iProtect Smart. Critical Illness benefit is available for the entire policy term or till the age of 75 years, whichever is lower.
~Based on number of policies sold online between April 2018 - March 2020.
3Please refer the product brochure for definitions, exclusions and other terms and conditions applicable for terminal illness.
++Nothing herein 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 affected 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.
+Accidental Death benefit is up to ₹ 2 Crores. Accidental Death Benefit is available in Life Plus and All in One options 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.
*If not chosen at inception of the policy, you can choose to enhance your coverage by adding Accidental Death Benefit during the policy term, except in the last 5 years of the policy. Deletion of benefits is not allowed. This feature is available only with Regular Pay option.
ICICI Pru iProtect Smart UIN 105N151V06
ICICI Pru Precious Life UIN 105N178V01