Term insurance for NRI in India

¹ Why are more NRIs buying Indian insurance products | Explained - https://www.cnbctv18.com/personal-finance/nri-high-demand-for-indian-insurance-products-low-premium-better-healthcare-aging-population-explainer-19505653.htm

^°The policyholder will have an option to cancel the Policy and receive Smart Exit Benefit i.e. 100% of Total Premiums Paid under the Policy.

The following conditions are applicable for availing 100% Premium Refund:

• This option can be exercised in any policy year greater than 25 but not during the last 5 policy years, provided the age of the life assured is 60 years or more at the time of exercise.
• The Policy is in-force with all due premiums paid at the time of exercising this option.
• No claim for any of the underlying benefits has been registered and is under evaluation/ or accepted/ or paid/ being paid on the Policy.

Where, Total Premiums Paid means the total of all premiums received, excluding any extra premium, any rider premium and taxes. In case the benefit term for additional benefit(s), for which additional premium has been paid, has expired at the time of exercise of Smart Exit Benefit, then Total Premiums Paid shall exclude the premium paid towards such additional benefit(s). Please refer to sales brochure for more details.

^{^} Tax benefits under the policy are subject to conditions prescribed under Section 123 (read with Schedule XV, Sr. No. 1, 2, 4 & 5), Section 11 (read with Schedule II, Sr. No. 2), and Section 202 and other applicable provisions and schedules of the Income Tax Act, 2025. Security Transaction tax (if any ) will be deducted as per prevailing tax laws. Taxes, if any will be charged extra as per applicable rates. Tax laws are subject to amendments from time to time. Please consult your tax advisor for more details.

^!jClaim settlement ratio is computed basis individual claims settled over total individual claims for the financial year. For details, refer to ICICI Prudential Financial Information- Business Presentation (FY2025).

^!a Life Cover is the benefit payable on death of the life assured during the policy term

⁽⁽ The premium for a 20-year-old non-smoker healthy male (occupation: non-salaried) with a life cover of ₹ 2 crore under the Life Option with income payout option (income for 30 years) for a policy term of 20 years under Regular Pay is ₹ 755 pm (inclusive of all taxes).

^~ This is as per underwriting guidelines and subject to change. VMER limits are available only for NRIs applying from abroad (from standard countries only).

^a The online discount percentages vary according to age, policy term, premium payment term and sum assured chosen by the customer and can range between 1%-5%. The exact 5% discount appears at the following scenario: ₹ 50 lakh of life cover for a 30-year-old healthy non-smoker male (occupation: non-salaried) for a policy term of 35 years with regular pay and lumpsum payout option. The offline monthly premium inclusive of taxes will be ₹876 & online annual premium inclusive of taxes will be ₹832.

^b A discount as follows will be offered on first year’s premium of Death Benefit (excluding rider premiums, underwriting extra premiums and taxes) to salaried customers:

⁵ In the event of the death of the Life Assured and upon subsequent receipt of intimation of the death claim (with required supporting documents) by the Company, the Company shall pay an accelerated Death Benefit of Rs. 3,00,000/- (Rupees Three Lakhs only). This will only be applicable where sum assured is greater than or equal to ₹1 crore and is not payable in case of death of the Life Assured during the first three Policy Years from the Date of Commencement of Risk or that from the Date of Revival of the policy whichever is later.. The immediate payout will be done within 1 working day from the Claim Registration Date, subject to submission of required documents. In case, after the evaluation or investigation of the claim records, it is found that the Death Benefit (including the applicable accelerated death benefit) is not payable to the Claimant owning to any reason whatsoever, the Claimant shall refund the entire amount paid towards accelerated Death Benefit within 7 days of receipt of communication. In case the policyholder has opted for a Death Benefit Payout Option whereby a part or the whole of the death benefit is payable in monthly instalments; this accelerated death benefit amount will be the lowest of:

• monthly income applicable in the first month as per the Death Benefit Payout Option chosen at policy inception
• amount payable as lumpsum (if Lumpsum and Income Option is chosen as Death Benefit Payout Option at policy inception), and
• ₹ 3,00,000.

^D2 You can choose to increase the Death Benefit at the key milestones of marriage, child birth/ adoption of child or disbursement of a home loan provided this feature is exercised within 6 months from the date of the event, age of the policy holder is less than 50 years, 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.

ICICI Pru iProtect Smart Plus UIN: (A Non-Participating Non-Linked Life Individual Pure Risk Insurance Product)

COMP/DOC/Aug/2023/18/3664

COMP/DOC/Aug/2024/78/6849

COMP/DOC/Sep/2026/29/0967

ADVT: W/II/2098/2024-25