Term insurance with critical illness~ benefit is one of the best combinations of life insurance that you can opt for. Term insurance offers financial security to your loved ones in your absence, supporting them to lead the lives you have envisioned for them. In addition to this, a term plan with a critical illness benefit secures you too, by providing you with protection against the costs of medical ailments. This makes for an ideal policy with many advantages.

What is a critical illness benefit?

A critical illness benefit is an optional add-on in term insurance policies that covers you against the costs of treatment of any of the listed ailments in your policy. The most common life-threatening illnesses include cancer, heart attack, stroke, kidney failure, and other critical illnesses. When you buy term insurance with the critical illness benefit option, you can claim the sum assured on the diagnosis of a critical ailment covered under your plan. You can then use this money to clear hospital bills, ambulance charges, doctor’s fees, medicine costs or however else you deem fit.

Why do you need a critical illness benefit?

A critical illness benefit can offer many benefits, such as:

Lump sum payment without deductions

On the diagnosis of any of the listed diseases in the plan, you can claim instant lump sum payments without any hidden costs and use the money towards getting treatment.

Coverage for medical expenses

You can use the payout without restrictions of any kind and cover all related costs of a medical issue, such as hospitalisation, ambulance expenses, cost of medicines, room rent, and a lot more.

Income replacement

If you lose your ability to work and earn, the claim received from term insurance with critical illness benefit can be used as a substitute for your income. This money can cater to a number of needs and requirements.

More tax$ benefits

You can enjoy additional tax$ benefits up to ₹ 7,800/- on premiums paid towards term insurance with a critical illness benefit. This is over and above the ₹ 46,800/- tax$ saved on your term insurance plan

Diseases covered under a term plan with critical illness benefit

ICICI Pru iProtect Smart term plan with critical illness benefit offers financial protection against the following ailments:

  • Cancer of specified severity
  • Angioplasty
  • Heart Valve Surgery
  • Surgery to aorta Heart and Artery Benefit
  • Myocardial Infarction
  • Primary (Idiopathic) Pulmonary hypertension
  • Open Chest CABG
  • Cardiomyopathy
  • End stage Lung Failure (Chronic Lung Disease)
  • End stage Liver Failure (Chronic Liver disease) Major Organ Benefit
  • Kidney Failure Requiring Regular Dialysis
  • Blindness
  • Apallic Syndrome
  • Benign Brain Tumour
  • Loss of Speech Others
  • Brain Surgery
  • Coma of specified Severity
  • Major Head Trauma
  • Major Organ/ Bone Marrow Transplant
  • Medullary Cystic Disease
  • Permanent Paralysis of Limbs
  • Alzheimer's Disease
  • Stroke resulting in permanent symptoms Brain and Nervous System Benefit
  • Aplastic Anaemia
  • Multiple Sclerosis with Persisting Symptoms
  • Muscular Dystrophy
  • Motor Neurone Disease with Permanent Symptoms
  • Poliomyelitis
  • Loss of Independent Existence
  • Parkinson’s Disease
  • Loss of Limbs
  • Deafness
  • Systematic lupus Eryth with Renal Involvement
  • Third degree Burns (Major Burns)

How does a critical illness benefit option work?

In order to buy the critical illness benefit, you need to pay a small extra cost over and above your term insurance plan’s premium. After you purchase term insurance with a critical illness benefit, you will receive an instant payout in a lump sum on the first diagnosis of any of the illnesses listed above.

Why buy ICICI Pru iProtect Smart Term Insurance Plan?

The ICICI Pru iProtect Smart Term Insurance Plan offers a life cover` of ₹ 1 crore at an affordable premium. Moreover, you can also add a critical illness benefit (optional) at minimal cost and be covered against 34 critical illnesses~. This can offer you security as well as peace of mind.

In addition to the above, the plan pays out the entire sum assured in case of terminal illness^^ and waives off your future premiums in case of total and permanent disability^ in an accident, so that your financial security is not compromised. You can also opt for your nominee to get an additional payout of up to ₹ 2 crore (inclusive of the sum assured), in case of accidental death#.


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` Life cover is the benefit payable on the death of the Life Assured during the policy term.

~ 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.

# Accidental Death benefit (ADB) is up to ₹ 2 crores (subjected to underwriting guidelines). ADB is available in Life Plus and All in One options. In case of death due to an accident Accidental Death Benefit will be paid out in addition to Death Benefit. Accidental Death Benefit will be equal to the policy term or (80-Age at entry), whichever is lower.

^ On diagnosis of Permanent Disability (PD) due to an accident, the future premiums under your policy for all benefits are waived. To know more about definitions, terms & conditions applicable for permanent disability due to accident, kindly refer sales brochure of ICICI Pru iProtect Smart.

$ Tax benefit of ₹ 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 details, before acting on the above.

^^ A 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 practitioners’ 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 practitioners’ registered with the Indian Medical Association and approved by the Company. The Company reserves the right for independent assessment.

!jClaim settlement ratio is for Financial Year FY2023-24 and is computed on individual basis claims settled over total individual claims for the financial year. For details, refer to Source: https://www.iciciprulife.com/about-us/investor-relations/yearly-public-disclosures.html?ID=about3

ICICI Pru iProtect Smart UIN (A Non-Linked Non-Par Life Individual pure risk premium product).

ADVT: W/II/0090/2022-23

ADVT: W/II/0202/2024-25

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