What are Pure Protection or Term Plans?

Pure Protection or Term plans are the most basic form of life insurance plans. They enable you to secure your family financially, by offering a high life insurance cover amount for a relatively low premium payment. You can pay these premiums regularly, or at one go, depending on the life insurance policy you choose.

These insurance plans let you keep your family secure and financially independent, in your absence. If you are the Life Assured, you pay a specific premium amount at fixed intervals during your policy. In the eventuality of death during the policy tenure, your family gets a pre-decided amount, called ‘Sum Assured’ as per the provisions of your protection plan.


Explore Our Term Plans

Take a look at the Term plans that we offer:

iProtect Smart Logo

Offer your family 360° protection against Death, Disability & Disease. A plan that provides Life cover + 34 Critical Illnesses cover* + Higher Accident cover and much more.

  • Enhance protection with a pay-out of upto ₹1 crore, for 34 life-threatening illnesses
  • Continue policy without paying future premiums, in case of permanent disability due to accident
  • Get the choice to receive your sum assured as a lump sum or as monthly income

*The critical illness benefit is an accelerated benefit and the death benefit will be reduced by the critical illness cover paid to the policyholder. To know more about the illnesses covered, please refer to the product brochure. The maximum accidental death benefit available is ₹2 Crore.

iProtect Smart Logo

A protection plan that covers your loved ones and ensures that nothing ever comes in the way of their dreams.

  • Security of your loved ones’ future even in your absence
  • Tax benefits

Life Raksha Logo

Ensure your family’s financial security even in your absence with a Life Cover, while enjoying tax benefits.

  • Security of your loved ones’ future even in your absence
  • Tax benefits

ICICI Prudential Smart Health is designed to provide protection against 34 Critical illnesses and Terminal Illness. In addition to this, it also provides a life insurance cover and waiver of premium in case of Permanent Disability due to an accident

  • Extensive protection against 34 Critical Illness, Disability, Terminal Illness and Death.
  • No increase in premium as you grow older
  • Receive lump sum CI Benefit amount irrespective of the actual billing

6 Reasons to buy a Term Plan

  • High Life Insurance Amount: Term plans provide a high life insurance amount. For example, if your annual income is Rs. 10 lakh, then you can take a Life Cover of up to ₹1 crore.
  • Affordable Premiums: With Term plans, a large amount of Life Cover comes at a small premium. For instance, you can get a Life Cover of ₹1 crore at a premium of just ₹17 per day^.
  • Tax Benefits: Term plans offer tax benefits** on premiums paid up to ₹1.5 lakh under Section 80C. New-age Term plans with critical illness cover also offer additional tax benefits on premiums paid up to ₹25,000 under Section 80D. You also get tax benefits** under Section 10(10D) on the money that your family receives in case of an unfortunate event.
  • Cover Against Critical Illnesses: Besides protecting your family in your absence, new-age Term plans like iProtect Smart also provide cover against critical illnesses. By paying a small amount of additional premium, you can get a lump sum pay-out on first diagnosis of a critical illness like heart attack, cancer, kidney failure, etc.
  • Support In Case Of Disability: In new-age Term plans such as iProtect Smart, the insurance company pays your future premiums in case of total and permanent disability*. This ensures that the protection of the Life Cover continues, even when you are unable to pay the premiums.
  • Double Security: To increase the security of your family, a Term Plan provides double pay-out (up to ₹2 crore) in case of an accidental death. For example, if your Life Cover is ₹1 crore, a Term plan with Accident Cover pays ₹2 crore to your family in case of an accidental death.*

How much Life Cover do I need?

You can get a simple, quick and clear answer to this question by calculating your Human Life Value or HLV. HLV is an easy-to-use numeric method of calculating the amount of Life Cover that you may need.
The basic thumb rule that can be used to find out your HLV is as follows:


Age In Years

Income multiple

25 times of your annual income
20 times of your annual income
15 times of your annual income
10 times of your annual income

For example, if a 32 year old man has an annual income of ₹5 lakh, the ideal Life Cover for him would be 25 x 5 lakh = ₹1.25 crore.

*Please refer the product brochure to know more information regarding the illnesses covered, Accident Cover, and Total and Permanent Disability.
** Tax benefits are subject to conditions u/s 80C, 80CCC, 10(10A), 10(10D) and other provisions of the Income Tax Act, 1961. Service tax and Swachh Bharat Cess will be charged extra as per applicable rates. Tax laws are subject to amendments from time to time.
^ The above mentioned illustration is for ICICI Pru iProtect Smart for the Life Income Payout option. The premium of ₹17 per day is for a 25 year old healthy non-smoker male, availing a policy with a 15 year term. The annual premium would be ₹6078 excluding taxes.

Tax benefits under the policy are subject to conditions under Section 80C, 10(10D) and other provisions of the Income Tax Act, 1961. Service tax and applicable cesses will be charged extra as per applicable rates. Tax laws are subject to amendments from time to time.

Human Life Value Calculator

Calculate how much your life insurance cover should be, to keep you and your family secure

ICICI Pru iProtect Smart (UIN: 105N151V01), ICICI Pru iCare II (UIN: 105N140V01), ICICI Pru Life Raksha (UIN: 105N149V01)


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