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Buy online and get a discount of
  0.7% for Regular & Limited Pay on each years premium
  0.5% on Single Pay on each years premium

Term Insurance with
Return of Premium Calculator

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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
Saved7,05,492
Savings 55.96%
Regular Pay
Monthly premium : ₹1,982
Total premium : ₹12,60,552
Savings 0%
Claims Corner

Steps to buy Term Insurance with Return of Premium


Check Premium


Fill application & make payment
Fill application &
make payment


Submit document
& complete
medical check-up

Policy Issued

How Term Plan with Return of Premium works? Play Video

Understand Return of premium option
Understand Income option
Understand Early RoP with life stage cover
Understand RoP at maturity with life stage cover
Understand Return of premium option
Life cover remains constant
105%
ROP3
₹17.49 L p.a
Age   35
60
75
Premium: ₹41,644 p.a.
Premium: ₹41,644 p.a.
The above premium is online, without tax annual premium for a 35 year old healthy male, regular pay with cover ceasing at age 75, life cover of ₹1 crore, death benefit payout option as lump sum.
Understand Income option

Life cover reduces to the extent of income payouts subject to minimum cover of 10 times annual premium

Life cover reduces to the extent of income payouts subject to
minimum cover of 10 times annual premium

Age   35
60
75
₹10,000 p.m (₹1.2L p.a) as income.
Premium: ₹55,764 p.a
Premium: ₹55,764 p.a

On survival, get monthly income in the range of ₹10,000 to ₹30,000 (₹1.2L to ₹3.6L p.a.) from the policy anniversary after the age of 60 till the end of policy term.

The above premium is online, without tax annual premium for a 35 year old healthy male, pay till 60, with cover ceasing at age 75, life cover of ₹1 crore, death benefit payout option as lump sum.
More value for money
Life cover adapts to your life goals. Get a higher cover during the crucial stages of your life.
Understand Early RoP with life stage
cover
Understand Early RoP with life stage cover
Up till 55 years
(Subjected to maximum twice the basic sum assured)

Starting from second policy year, 5% of Basic Sum Assured gets added every policy anniversary, till the policy anniversary after the Life Assured attains age 55.

60-end of policy term

Sum assured becomes 50% of base sum assured as you have met most of your financial responsibilities

105%
ROP3
₹14.51 L p.a
Life Cover: Increases 5% p.a
Age   35
55
60
75
Premium: ₹69,107 p.a
The above premium is online, without tax annual premium for a 35 year old healthy male, 20 pay, with cover ceasing at age 75, life cover of ₹1 crore, death benefit payout option as lump sum.
Understand RoP at maturity with life stage cover
Up till 55 years
(Subjected to maximum twice the basic sum assured)

Starting from second policy year, 5% of Basic Sum Assured gets added every policy anniversary, till the policy anniversary after the Life Assured attains age 55.

60-end of policy term

Sum assured becomes 50% of base sum assured as you have met most of your financial responsibilities

Life Cover: Increases 5% p.a
105%
ROP3
₹11.15 L p.a
Age   35
55
60
75
Premium: ₹42,491 p.a
The above premium is online, without tax annual premium for a 35 year old healthy male, pay till 60, with cover ceasing at age 75, life cover of ₹1 crore, death benefit payout option as lump sum.

Quick Guide to your Term Insurance with Return of Premium plan

Return of Premium

Return of Premium Calculator

Quick Guide to your Term Insurance with Return of Premium plan

Return of Premium
Return of Premium Calculator
What is ICICI Pru iProtect Return of Premium plan?
ICICI Pru iProtect Return of Premium offers all the benefits of a term insurance plan along with return of premiums paid. It is an ideal choice for people looking for life insurance cover with assured return of premiums. It gives you the option to choose from two covers – life stage cover where the life cover changes as per changing life stages and level cover where life cover is constant throughout the policy term. You get all the premiums back either on completion of the policy term or before the completion of policy term depending up on the plan you choose.
What is ICICI Pru iProtect Return of Premium – Income Benefit?
ICICI Pru iProtect Return of Premium – Income Benefit offers all benefits of a term insurance plan along with monthly income2a from the policy anniversary after the life assured turns 60 years of age. It is an ideal choice for people looking for life insurance cover along with their retirement planning.
What is ICICI Pru iProtect Return of Premium – Life Stage Cover?
When you opt for a life stage2 cover benefit, your life cover increases by 5% on every policy anniversary till the time you turn 55 years of age. During this period if your life cover amount becomes twice the Basic sum Assured, it will remain constant till you turn 55 years of age. From policy anniversary after age 56 till the policy anniversary after age 60, your life cover will go back to the original life cover you chose at the time of purchase. From policy anniversary after age 60 till the end of the policy term, your life cover becomes 50% of the original life cover you chose at the time of purchase.

This benefit comes in 2 forms of Return of Premium feature:
  • Return of premium with Life Stage Cover: Get your premiums back on maturity of your policy term.
  • Early Return of Premium with Life Stage Cover: Get back your premiums on the policy anniversary after the Life Assured turns 60 or 70 years old (as per your choice at the inception of policy). Your life cover will continue till the end of your policy term.
What is level cover?
The life cover that you select at the inception of the plan remains same throughout the policy term. Level cover is available with 'Return of Premium' plan option

Please note: For “income Benefit”, post age 60, the life cover reduces in proportion to the income paid out as a survival benefit.”
What is life stage cover?
The plan knows that an individual has varied degrees of responsibilities during various stages of life and therefore adapts with your changing life-stage. Life-stage cover is available with “Return of Premium with Life-stage cover” and “Early Return of Premium with Life-stage cover” plan options only
How much life cover do I need?
The life cover you need depends on your current annual income. We recommend that a life 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 life cover so that your family’s financial security is not compromised
What is limited pay option**?
With the limited pay option, you can pay premiums for a specific pre-agreed period of time (5, 7, 10, 12 or 15 years) and enjoy the life cover for the whole policy duration, irrespective of the premium payment period
Which payout option should I choose?
ICICI Pru iProtect Return of Premium has three payout options:

  1. Lump sum - The entire life cover is payable as a lump sum (single payment)
  2. Income - 20% of the benefit amount is payable every year for 5 years. This will be paid in equal monthly instalments in advance at the rate of 1.66667% of Death Benefit Amount. The beneficiary can also advance the first year’s income as lump sum. The monthly income will start from the subsequent month for 4 years at the rate of 1.34% of the Death Benefit Amount. In case this option is chosen, discount factor of 5% will be applicable on all premiums corresponding to the chosen Plan Option
  3. Lump sum and Income - The percentage of the Sum Assured to be paid out as lump sum is chosen at inception. The balance Sum Assured will be paid out in equal monthly instalments in advance at the rate of 1.66667% per month over 5 years. In case this option is chosen, discount factor of 5% will be applicable on premiums corresponding to the chosen Plan Option in the same proportion as that of the Income chosen.
What is Term Insurance Return of Premium Calculator?
A Term insurance plan that returns the premiums paid to the policyholder is known as a Term insurance return on premium (TROP) plan.

A term insurance return of premium calculator will help you understand the amount of money you can receive according to the various option available for you to chose, that will best suit your needs.

The calculator will show how the options work and how they will affect your returns. Sum assured, premium payment term, policy term, choice and frequency of payout and additional riders that you select will have an impact on the actual amount that you receive. A Term insurance return on premium (TROP) plan returns all the premiums paid, either as a lump sum or regular income at the end of the policy term or during the policy term while your life cover continues for the rest of the policy duration.
How does a Term Insurance Return of Premium Calculator Work?
A Term insurance return of premium calculator takes into account various factors and scenarios and will then show you the amount that you will receive as a lump sum or in parts during the policy term or at the end of it, depending on the option you have chosen.

Factors that affect this are
  • Age of the applicant
  • Gender and Smoking habits
  • Duration of the premium payment term selected (5, 7 or 10 years)
  • Duration of the Return of premium policy term
  • The sum assured selected
  • Any additional riders selected

When you enter the above factors in the Term Insurance Return of Premium Calculator, it will then show you the payout frequency and actual amounts that you will receive, depending on the choices you have made.
What factors determine the premium amount?
The premium for any insurance policy depends on a few factors that determine the amount. The sum assured that you wish to get is one of the most important primary factors. The higher the sum assured the higher is the premium of the policy. Other factors that affect the premium amount are age, gender, smoking habits, duration of the policy term and the choice of the premium payment term.

Keep in mind premium payment term is different from the Policy term. To make it simpler to understand, let us take an example. You can opt for a policy that will provide a cover for 20 years, yet you can choose to pay the premium for the policy for a limited number of years, say 5, 7 or 10 years.
What is the difference between Term Insurance and Term Insurance Return of Premium?
A Term insurance plan is one where you pay premiums for a life cover and any added riders like critical illness cover, accidental death benefit cover. The benefits of a term plan are paid or applicable only in the event of options selected or death.

For example, Mr A takes buys a Term insurance of ₹1 crore with critical illness cover and accidental death benefits for a period of 30 years.

In the event Mr A is diagnosed with a critical illness during this term, he will receive the critical illness amount, he has opted for. In the unfortunate event of death from the critical illness, the nominee of Mr A will receive the entire Term insurance cover of ₹1 crore.

In the event, that Mr A survives the term of 30 years without having any critical illness, he would not be applicable to receive death or other benefits from this plan and the policy will end.

A term insurance return of premium plan not only offers the life cover it has assured but also returns the premium amount, back to the policyholder or the nominee, depending on the conditions chosen at inception and applicable at maturity or end of the policy.
Steps to use the Term Insurance Return of Premium Calculator
To use the Term Insurance Return of Premium Calculator:
  • Start by entering basic details like your gender, age, annual income, smoking habits and your contact details.
  • Check the box to undergo suitability analysis and click on Check Premium
  • Select the plan option from the options available
  • Select how long you wish to pay the premium for
  • Select the frequency of your premium payments
  • Select the duration of your term insurance policy
  • Select the duration of your Return of Premium plan
  • Choose the Benefits and options from the riders available that suit you best
  • Enter the amounts you wish to have in the riders if you choose any
  • Select how you would like to receive the payout
  • Click to calculate

Quick Guide to your Term Insurance with Return of Premium plan

Return of Premium

Return of Premium Calculator

Quick Guide to your Term Insurance with Return of Premium plan

Return of Premium
Return of Premium Calculator
What is ICICI Pru iProtect Return of Premium – Income Benefit?
ICICI Pru iProtect Return of Premium – Income Benefit offers all benefits of a term insurance plan along with monthly income2a from the policy anniversary after the life assured turns 60 years of age. It is an ideal choice for people looking for life insurance cover along with their retirement planning.
What is ICICI Pru iProtect Return of Premium plan?
ICICI Pru iProtect Return of Premium offers all the benefits of a term insurance plan along with return of premiums paid. It is an ideal choice for people looking for life insurance cover with assured return of premiums. It gives you the option to choose from two covers – life stage cover where the life cover changes as per changing life stages and level cover where life cover is constant throughout the policy term. You get all the premiums back either on completion of the policy term or before the completion of policy term depending up on the plan you choose.
What is ICICI Pru iProtect Return of Premium – Life Stage Cover?
When you opt for a life stage2 cover benefit, your life cover increases by 5% on every policy anniversary till the time you turn 55 years of age. During this period if your life cover amount becomes twice the Basic sum Assured, it will remain constant till you turn 55 years of age. From policy anniversary after age 56 till the policy anniversary after age 60, your life cover will go back to the original life cover you chose at the time of purchase. From policy anniversary after age 60 till the end of the policy term, your life cover becomes 50% of the original life cover you chose at the time of purchase.

This benefit comes in 2 forms of Return of Premium feature:
  • Return of premium with Life Stage Cover: Get your premiums back on maturity of your policy term.
  • Early Return of Premium with Life Stage Cover: Get back your premiums on the policy anniversary after the Life Assured turns 60 or 70 years old (as per your choice at the inception of policy). Your life cover will continue till the end of your policy term.
What is level cover?
The life cover that you select at the inception of the plan remains same throughout the policy term. Level cover is available with 'Return of Premium' plan option

Please note: For “income Benefit”, post age 60, the life cover reduces in proportion to the income paid out as a survival benefit.”
What is life stage cover?
The plan knows that an individual has varied degrees of responsibilities during various stages of life and therefore adapts with your changing life-stage. Life-stage cover is available with “Return of Premium with Life-stage cover” and “Early Return of Premium with Life-stage cover” plan options only
How much life cover do I need?
The life cover you need depends on your current annual income. We recommend that a life 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 life cover so that your family’s financial security is not compromised
What is limited pay option**?
With the limited pay option, you can pay premiums for a specific pre-agreed period of time (5, 7, 10, 12 or 15 years) and enjoy the life cover for the whole policy duration, irrespective of the premium payment period
Which payout option should I choose?
ICICI Pru iProtect Return of Premium has three payout options:

  1. Lump sum - The entire life cover is payable as a lump sum (single payment)
  2. Income - 20% of the benefit amount is payable every year for 5 years. This will be paid in equal monthly instalments in advance at the rate of 1.66667% of Death Benefit Amount. The beneficiary can also advance the first year’s income as lump sum. The monthly income will start from the subsequent month for 4 years at the rate of 1.34% of the Death Benefit Amount. In case this option is chosen, discount factor of 5% will be applicable on all premiums corresponding to the chosen Plan Option
  3. Lump sum and Income - The percentage of the Sum Assured to be paid out as lump sum is chosen at inception. The balance Sum Assured will be paid out in equal monthly instalments in advance at the rate of 1.66667% per month over 5 years. In case this option is chosen, discount factor of 5% will be applicable on premiums corresponding to the chosen Plan Option in the same proportion as that of the Income chosen.
What is Term Insurance Return of Premium Calculator?
A Term insurance plan that returns the premiums paid to the policyholder is known as a Term insurance return on premium (TROP) plan.

A term insurance return of premium calculator will help you understand the amount of money you can receive according to the various option available for you to chose, that will best suit your needs.

The calculator will show how the options work and how they will affect your returns. Sum assured, premium payment term, policy term, choice and frequency of payout and additional riders that you select will have an impact on the actual amount that you receive. A Term insurance return on premium (TROP) plan returns all the premiums paid, either as a lump sum or regular income at the end of the policy term or during the policy term while your life cover continues for the rest of the policy duration.
How does a Term Insurance Return of Premium Calculator Work?
A Term insurance return of premium calculator takes into account various factors and scenarios and will then show you the amount that you will receive as a lump sum or in parts during the policy term or at the end of it, depending on the option you have chosen.

Factors that affect this are
  • Age of the applicant
  • Gender and Smoking habits
  • Duration of the premium payment term selected (5, 7 or 10 years)
  • Duration of the Return of premium policy term
  • The sum assured selected
  • Any additional riders selected

When you enter the above factors in the Term Insurance Return of Premium Calculator, it will then show you the payout frequency and actual amounts that you will receive, depending on the choices you have made.
What factors determine the premium amount?
The premium for any insurance policy depends on a few factors that determine the amount. The sum assured that you wish to get is one of the most important primary factors. The higher the sum assured the higher is the premium of the policy. Other factors that affect the premium amount are age, gender, smoking habits, duration of the policy term and the choice of the premium payment term.

Keep in mind premium payment term is different from the Policy term. To make it simpler to understand, let us take an example. You can opt for a policy that will provide a cover for 20 years, yet you can choose to pay the premium for the policy for a limited number of years, say 5, 7 or 10 years.
What is the difference between Term Insurance and Term Insurance Return of Premium?
A Term insurance plan is one where you pay premiums for a life cover and any added riders like critical illness cover, accidental death benefit cover. The benefits of a term plan are paid or applicable only in the event of options selected or death.

For example, Mr A takes buys a Term insurance of ₹1 crore with critical illness cover and accidental death benefits for a period of 30 years.

In the event Mr A is diagnosed with a critical illness during this term, he will receive the critical illness amount, he has opted for. In the unfortunate event of death from the critical illness, the nominee of Mr A will receive the entire Term insurance cover of ₹1 crore.

In the event, that Mr A survives the term of 30 years without having any critical illness, he would not be applicable to receive death or other benefits from this plan and the policy will end.

A term insurance return of premium plan not only offers the life cover it has assured but also returns the premium amount, back to the policyholder or the nominee, depending on the conditions chosen at inception and applicable at maturity or end of the policy.
Steps to use the Term Insurance Return of Premium Calculator
To use the Term Insurance Return of Premium Calculator:
  • Start by entering basic details like your gender, age, annual income, smoking habits and your contact details.
  • Check the box to undergo suitability analysis and click on Check Premium
  • Select the plan option from the options available
  • Select how long you wish to pay the premium for
  • Select the frequency of your premium payments
  • Select the duration of your term insurance policy
  • Select the duration of your Return of Premium plan
  • Choose the Benefits and options from the riders available that suit you best
  • Enter the amounts you wish to have in the riders if you choose any
  • Select how you would like to receive the payout
  • Click to calculate

Quick Guide to your Term Insurance with Return of Premium plan

Return of Premium

Return of Premium Calculator

Quick Guide to your Term Insurance with Return of Premium plan

Return of Premium
Return of Premium Calculator
What is ICICI Pru iProtect Return of Premium – Life Stage Cover?
When you opt for a life stage2 cover benefit, your life cover increases by 5% on every policy anniversary till the time you turn 55 years of age. During this period if your life cover amount becomes twice the Basic sum Assured, it will remain constant till you turn 55 years of age. From policy anniversary after age 56 till the policy anniversary after age 60, your life cover will go back to the original life cover you chose at the time of purchase. From policy anniversary after age 60 till the end of the policy term, your life cover becomes 50% of the original life cover you chose at the time of purchase.

This benefit comes in 2 forms of Return of Premium feature:
  • Return of premium with Life Stage Cover: Get your premiums back on maturity of your policy term.
  • Early Return of Premium with Life Stage Cover: Get back your premiums on the policy anniversary after the Life Assured turns 60 or 70 years old (as per your choice at the inception of policy). Your life cover will continue till the end of your policy term.
What is ICICI Pru iProtect Return of Premium plan?
ICICI Pru iProtect Return of Premium offers all the benefits of a term insurance plan along with return of premiums paid. It is an ideal choice for people looking for life insurance cover with assured return of premiums. It gives you the option to choose from two covers – life stage cover where the life cover changes as per changing life stages and level cover where life cover is constant throughout the policy term. You get all the premiums back either on completion of the policy term or before the completion of policy term depending up on the plan you choose.
What is ICICI Pru iProtect Return of Premium – Income Benefit?
ICICI Pru iProtect Return of Premium – Income Benefit offers all benefits of a term insurance plan along with monthly income2a from the policy anniversary after the life assured turns 60 years of age. It is an ideal choice for people looking for life insurance cover along with their retirement planning.
What is level cover?
The life cover that you select at the inception of the plan remains same throughout the policy term. Level cover is available with 'Return of Premium' plan option

Please note: For “income Benefit”, post age 60, the life cover reduces in proportion to the income paid out as a survival benefit.”
What is life stage cover?
The plan knows that an individual has varied degrees of responsibilities during various stages of life and therefore adapts with your changing life-stage. Life-stage cover is available with “Return of Premium with Life-stage cover” and “Early Return of Premium with Life-stage cover” plan options only
How much life cover do I need?
The life cover you need depends on your current annual income. We recommend that a life 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 life cover so that your family’s financial security is not compromised
What is limited pay option**?
With the limited pay option, you can pay premiums for a specific pre-agreed period of time (5, 7, 10, 12 or 15 years) and enjoy the life cover for the whole policy duration, irrespective of the premium payment period
Which payout option should I choose?
ICICI Pru iProtect Return of Premium has three payout options:

  1. Lump sum - The entire life cover is payable as a lump sum (single payment)
  2. Income - 20% of the benefit amount is payable every year for 5 years. This will be paid in equal monthly instalments in advance at the rate of 1.66667% of Death Benefit Amount. The beneficiary can also advance the first year’s income as lump sum. The monthly income will start from the subsequent month for 4 years at the rate of 1.34% of the Death Benefit Amount. In case this option is chosen, discount factor of 5% will be applicable on all premiums corresponding to the chosen Plan Option
  3. Lump sum and Income - The percentage of the Sum Assured to be paid out as lump sum is chosen at inception. The balance Sum Assured will be paid out in equal monthly instalments in advance at the rate of 1.66667% per month over 5 years. In case this option is chosen, discount factor of 5% will be applicable on premiums corresponding to the chosen Plan Option in the same proportion as that of the Income chosen.
What is Term Insurance Return of Premium Calculator?
A Term insurance plan that returns the premiums paid to the policyholder is known as a Term insurance return on premium (TROP) plan.

A term insurance return of premium calculator will help you understand the amount of money you can receive according to the various option available for you to chose, that will best suit your needs.

The calculator will show how the options work and how they will affect your returns. Sum assured, premium payment term, policy term, choice and frequency of payout and additional riders that you select will have an impact on the actual amount that you receive. A Term insurance return on premium (TROP) plan returns all the premiums paid, either as a lump sum or regular income at the end of the policy term or during the policy term while your life cover continues for the rest of the policy duration.
How does a Term Insurance Return of Premium Calculator Work?
A Term insurance return of premium calculator takes into account various factors and scenarios and will then show you the amount that you will receive as a lump sum or in parts during the policy term or at the end of it, depending on the option you have chosen.

Factors that affect this are
  • Age of the applicant
  • Gender and Smoking habits
  • Duration of the premium payment term selected (5, 7 or 10 years)
  • Duration of the Return of premium policy term
  • The sum assured selected
  • Any additional riders selected

When you enter the above factors in the Term Insurance Return of Premium Calculator, it will then show you the payout frequency and actual amounts that you will receive, depending on the choices you have made.
What factors determine the premium amount?
The premium for any insurance policy depends on a few factors that determine the amount. The sum assured that you wish to get is one of the most important primary factors. The higher the sum assured the higher is the premium of the policy. Other factors that affect the premium amount are age, gender, smoking habits, duration of the policy term and the choice of the premium payment term.

Keep in mind premium payment term is different from the Policy term. To make it simpler to understand, let us take an example. You can opt for a policy that will provide a cover for 20 years, yet you can choose to pay the premium for the policy for a limited number of years, say 5, 7 or 10 years.
What is the difference between Term Insurance and Term Insurance Return of Premium?
A Term insurance plan is one where you pay premiums for a life cover and any added riders like critical illness cover, accidental death benefit cover. The benefits of a term plan are paid or applicable only in the event of options selected or death.

For example, Mr A takes buys a Term insurance of ₹1 crore with critical illness cover and accidental death benefits for a period of 30 years.

In the event Mr A is diagnosed with a critical illness during this term, he will receive the critical illness amount, he has opted for. In the unfortunate event of death from the critical illness, the nominee of Mr A will receive the entire Term insurance cover of ₹1 crore.

In the event, that Mr A survives the term of 30 years without having any critical illness, he would not be applicable to receive death or other benefits from this plan and the policy will end.

A term insurance return of premium plan not only offers the life cover it has assured but also returns the premium amount, back to the policyholder or the nominee, depending on the conditions chosen at inception and applicable at maturity or end of the policy.
Steps to use the Term Insurance Return of Premium Calculator
To use the Term Insurance Return of Premium Calculator:
  • Start by entering basic details like your gender, age, annual income, smoking habits and your contact details.
  • Check the box to undergo suitability analysis and click on Check Premium
  • Select the plan option from the options available
  • Select how long you wish to pay the premium for
  • Select the frequency of your premium payments
  • Select the duration of your term insurance policy
  • Select the duration of your Return of Premium plan
  • Choose the Benefits and options from the riders available that suit you best
  • Enter the amounts you wish to have in the riders if you choose any
  • Select how you would like to receive the payout
  • Click to calculate

Why choose ICICI Prudential Life?

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
1 Day
Claim
Settlement>
30 Day Return Policy
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

Term Plan with Return of Premium - Frequently Asked Questions

The customer can choose to take the death benefit in the form of:

  • Lump sum Option – the entire benefit amount is payable as a lump sum

  • Income Option – 20% of the benefit amount is payable every year for 5 years. This will be paid in equal monthly instalments in advance at the rate of 1.66667% of Death Benefit Amount. The beneficiary can also advance the first year’s income as lump sum. The monthly income will start from the subsequent month for 4 years at the rate of 1.34% of the Death Benefit Amount.

  • Lump sum and Income Option – The percentage of the Sum Assured to be paid out as lump sum is chosen at inception. The balance Sum Assured will be paid out in equal monthly instalments in advance at the rate of 1.66667% per month over 5 years.


For ‘Income’ Option and ‘Lump sum and Income’ Option, the Claimant as the case may be, will have the option to convert the outstanding monthly income into lump sum pay out and the policy will terminate after the lump sum payout and all rights, benefits and interest shall be extinguished. The lump sum amount will be the present value calculated at a discount rate of 2% p.a.
The CI Benefit offers coverage against 64 critical illnesses, of which 60 are major critical illnesses and 4 are minor critical illnesses. 100% of the CI Sum Assured is payable on first occurrence of any of the covered major critical illnesses. Also, 4 minor conditions: Angioplasty, Early stage Cancer (Carcinoma-in-situ), Brain Aneurysm Surgery and Small Bowel Transplant are covered and 25% of CI Sum Insured or ₹500,000 whichever is lower, is payable on first occurrence of any of these four illnesses.
CI Benefit is available for Single Pay and Limited Pay with maximum benefit term of 15 years. For regular pay, the maximum term under CI benefit is 40 years subject to maximum cover ceasing age of 85 years
Accidental Death Cover: No waiting period.

Waiting Period for Critical Illness Benefit

  1. For Angioplasty, Carcinoma-in-situ, Brain Aneurysm Surgery and Small Bowel Transplant an initial waiting period of 180 days applies from the date of commencement of risk or policy revival date where the due premium has not been paid for more than 180 days.

  2. For conditions other than Angioplasty, Carcinoma-in-situ, Brain Aneurysm Surgery and Small Bowel Transplant, there is a waiting period of 90 days from the date of commencement of risk, or policy revival date where the due premium has not been paid for more than 90 days.

  3. In case the insured event happens during this period, no benefit shall be payable. However, 100% of the Critical Illness premiums will be refunded and the CI benefit will terminate.

  4. No waiting period applies for Critical Illness claims arising solely due to an accident.
  • For death benefit, for other than POS policies:
    suicide is the only exclusion. In case of death due to suicide within 12 months from the date of commencement of risk under the policy or from the date of revival of the policy, as applicable, the Claimant shall be entitled to at least 80% of the total premiums paid till the date of death or the surrender value available as on the date of death whichever is higher, provided the policy is in force. The Policy will terminate on making such a payment and all rights, benefits and interests under the Policy will stand extinguished.

  • For POS policies, there’s an additional exclusion of waiting period:
    Death benefit shall not apply or be payable in respect of any death during the first 90 days from the Date of Commencement of Risk

    • In case of a death claim during the waiting period, the Company will refund all premiums paid (including modal loading but excluding Goods and Services Tax and Cesses, if any) and the policy will terminate with immediate effect.

    • No waiting period applies where death is due to accident.

  • For Accidental Death Cover & Critical Illness Benefit:
    please refer to the exclusion list provided in the brochure.
If a minor CI claim has been paid out, the CI Sum Assured and premium will be proportionately reduced. Post a major CI claim has been paid out, CI benefit will terminate and premiums corresponding to CI will not be required to be paid.
  • For Limited and Single pay - Yes, the CI premium is fixed as CI benefit term can be for maximum 15 years.

  • For regular pay - No, the CI premium may be subject to revision post 15 years, after which they can be revised for every block of three years, with prior approval of IRDAI.
Once the CI benefit term is over, then premiums corresponding to CI benefit will not be required to be paid. The customer will have to continue paying for all other benefits to avail other benefits.

1 Life cover is the death benefit payable on death of the Life Assured during the policy term.
For ‘Return of Premium’ plan option, Death Benefit will be the highest of a) Sum Assured on Death b) Basic Sum Assured to be paid on death c) (Applicable only for limited pay and regular pay) 105% of the Total Premiums Paid till the date of death. Where Sum Assured on Death is 7 X Annualised Premium for regular pay and limited pay and 1.25 X Single Premium for single pay;
For ‘Income Benefit’ plan option, Death Benefit will be the highest of a) Sum Assured on Death b) 105% of the Total premiums Paid till the date of death c) Basic Sum Assured to be paid on death, less total Survival Benefit paid till date of death. Where, Sum Assured on Death is 10 X Annualised Premium.
For ‘Return of Premium with Life-stage cover’ & ‘Early Return of Premium with Life-stage cover’ plan options, Death Benefit will be the highest of a) Sum Assured on Death b) 105% of the Total premiums paid till the date of death c) Absolute amount assured to be paid on death Where Sum Assured on Death is 7 X Annualised Premium.

2 Life-stage cover: In case of Life-stage cover, Absolute amount assured to be paid on death will be based on age of the Life Assured as provided below.

  1. In the first policy year, Absolute amount assured to be paid on death will be the same as Basic Sum Assured as chosen by You at inception.
  2. From the second policy year till the policy anniversary after the Life Assured attains age 55, 5% of Basic Sum Assured gets added on every policy anniversary to the Basic Sum Assured. This amount cumulatively shall be the Absolute amount assured to be paid on death. The Absolute amount assured to be paid on death remains constant till the next policy anniversary. In case the Absolute amount assured to be paid on death becomes twice the Basic Sum Assured during this period of increment, it stays constant at that level, till the policy anniversary after the Life Assured attains age of 56 years.
  3. On the policy anniversary after the Life Assured attains 56 years of age, the Absolute amount assured to be paid on death shall revert back to Basic SA. This will continue till the policy anniversary after the Life Assured attains 60 years of age.
  4. On the policy anniversary after the Life Assured attains 60 years of age, the absolute amount assured to be paid on death shall be 50% of Basic Sum Assured and continues at the same level till end of the policy term.

3 Return of Premium: Return of premiums is available on survival under three of the Plan Options: ‘Return of Premium’, ‘Return of Premium with Life-stage cover’ and ‘Early Return of Premium with Life-stage cover’ and refers to total of all premiums received, excluding premiums for optional benefits i.e. Accidental Death Cover, Critical Illness Benefit, any extra premium, any rider premium and taxes, if any. The plan options ‘Return of Premium’ and ‘Return of Premium with Life-stage cover’ provide maturity benefit on survival of the Life Assured till the end of the policy term. The plan option ‘Early Return of Premium with Life-stage cover’ provides survival benefit on survival of the Life Assured till the policy anniversary immediately after the Life Assured turns age 60 or 70, depending on the return of premium age chosen by the customer at inception. The fourth plan option ‘Income Benefit’ provides regular monthly income from the policy anniversary after the Life Assured attains age 60 as a survival benefit till the end of the policy term. Please note that the sum of monthly incomes paid under this plan option can be higher or lower than the total premiums paid by the customer, and may not be return of premium.

4 Critical Illness Benefit: Critical Illness Benefit is up to ₹1 Crore (Subjected to underwriting guidelines).CI Benefit is an additional optional benefit chosen at inception and is available with ‘Life and health’ and ‘All in One’ benefit options. The CI Sum Assured is paid as a lump sum upon the Life Assured being diagnosed on first occurrence of any of the covered 60 major Critical Illnesses within CI Benefit term. 25% of the CI Sum Assured or ₹500,000.00 whichever is lower is paid as a lump sum upon the Life Assured being diagnosed on occurrence of any of the covered 4 minor Critical Illnesses within CI Benefit term. CI Benefit is available for Single Pay and Limited Pay and is lower of (15 years, policy term). For regular pay, the CI benefit term will be lower of (policy term, 40 years) subject to maximum cover ceasing age of 85 years. CI Benefit can be less than or equal to the Basic Sum Assured chosen by You at inception for Return of Premium Plan and Income Benefit Plan. CI Benefit can be less than or equal to the 50% of the Basic Sum Assured chosen at inception for Return of Premium with Life-stage Cover Plan and Early Return of Premium with Life-stage Cover Plan. CI Benefit is a pure risk benefit and does not have Survival or Maturity Benefit. Premiums paid corresponding to CI Benefit shall be excluded from Survival or Maturity Benefit.

5 Accidental Death Cover: Accidental Death Cover is up to ₹2 crore (Subjected to underwriting guidelines). ADB Benefit is an additional optional benefit and is available with ‘Life Plus’ and ‘All in One’ benefit options. In the event of the Life Assured’s death due to an Accident, ADB will be payable as a lump sum. ADB is available for the policy term or till the age of 80 years, whichever is lower. For Return of Premium Plan and Income Benefit Plan, ADB can be less than or equal to the Basic Sum Assured as per plan option. For Return of Premium with Life-stage Cover Plan and Early Return of Premium with Life-stage Cover Plan, ADB5 can be less than or equal to the 50% of the Basic Sum Assured chosen at inception. ADB is a pure risk benefit and does not have Survival or Maturity Benefit. Premiums paid corresponding to ADB shall be excluded from Survival or Maturity Benefit.

6Tax benefits 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.

7 Savings 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.

8 Our life insurance policies cover death due to COVID-19, subject to applicable terms and conditions of policy contract and extant regulatory framework.

18 Data regarding AUM is as per Annual Report of the Company for FY2022.

% 58.1 mn lives covered across our individual and group customers as per ICICI Prudential Life Council Report.

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

^'How much life cover do you need? Source: Economic Times, https://economictimes.indiatimes.com/wealth/insure/how-much-life-cover-do-you-need/articleshow/53037661.cms

The discount is applicable only on ICICI Pru iProtect Return of Premium policies purchased online.

?- The premium of ₹2630 p.m. has been approximately calculated for a 30 year old healthy male life with monthly mode of payment, death benefit payout option as Lump sum and premiums paid regularly for the policy term of 40 years with 'Return of Premium' plan option and Life Cover of ₹1 Crore. The above mentioned premium is online premium and is inclusive of taxes.

-/ Premium back refers to the total of all premiums received, excluding premiums for optional benefits i.e. Accidental Death Cover, Critical Illness Benefit, any extra premium, any rider premium and taxes, if any.

* For Early return of premium with life stage cover option, on survival, return of premium is 105% of total premiums paid on the policy anniversary after the life assured turns 60 or 70 years old, as chosen by you at inception

&& ICICI Pru iProtect Return of Premium offers four variants namely ‘Life’, ‘Life plus’, ‘Life and health’ and ‘All in One’ with difference benefits. “All in One” is one of the four variants offered under iProtect Return of Premium having all benefits offered under other ICICI Pru iProtect Return of Premium variants namely Life, Life plus and Life & health. The customer can choose any one variant from the four available variants. Please refer to the product brochure for more details

>1 Day is a working day, counted from date 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.

1a The premium of ₹62120 p.a. has been approximately calculated for a 30 year old healthy, non-smoker male who has bought ‘Income Benefit’ plan option with ‘0.3% monthly income’, paying premiums for 10 years, death benefit payout option as Lump sum, with a policy term of 40 years and life cover of ₹50 Lakhs. The above mentioned premium is online premium and is exclusive of taxes.

2a Monthly income is available under “Income Benefit” plan option and starts from the policy anniversary after the Life Assured turns 60 years of age till the end of the policy term. Please note that the monthly income is 0.1%,0.2% or 0.3% of base Sum Assured depending on the monthly income percentage chosen by the customer at inception and the sum of monthly incomes paid under this plan option can be higher or lower than the total premiums paid by the customer, and may not be return of premium.

2b 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.

3a The amount will be given out in the form of monthly income of ₹15,000.

3b The above monthly premium of ₹60 is for a life assured who has chosen an Accidental death benefit cover of ₹10 Lakh and is paying premiums regularly for the entire policy term. It is applicable only if ‘Return of Premium’ plan option is chosen under iProtect Return of Premium. The above rate is online and inclusive of taxes.

3c For ‘Return of Premium with Life-stage cover’ & ‘Early Return of Premium with Life-stage cover’ plan options, Death Benefit will be the highest of a) Sum Assured on Death b) 105% of the Total premiums paid till the date of death c) Absolute amount assured to be paid on death Where Sum Assured on Death is 7 X Annualised Premium.
In case of Life-stage cover, Absolute amount assured to be paid on death will be based on age of the Life Assured as provided below.

  1. In the first policy year, Absolute amount assured to be paid on death will be the same as Basic Sum Assured as chosen by You at inception.
  2. From the second policy year till the policy anniversary after the Life Assured attains age 55, 5% of Basic Sum Assured gets added on every policy anniversary to the Basic Sum Assured. This amount cumulatively shall be the Absolute amount assured to be paid on death. The Absolute amount assured to be paid on death remains constant till the next policy anniversary. In case the Absolute amount assured to be paid on death becomes twice the Basic Sum Assured during this period of increment, it stays constant at that level, till the policy anniversary after the Life Assured attains age of 56 years.
  3. On the policy anniversary after the Life Assured attains 56 years of age, the Absolute amount assured to be paid on death shall revert back to Basic SA. This will continue till the policy anniversary after the Life Assured attains 60 years of age.
  4. On the policy anniversary after the Life Assured attains 60 years of age, the absolute amount assured to be paid on death shall be 50% of Basic Sum Assured and continues at the same level till end of the policy term.

4a The premium of ₹5544 p.m. has been approximately calculated for a 30 year old healthy, non-smoker male who has bought ‘Income Benefit’ plan option with ‘0.3% monthly income’, paying premiums for 10 years, death benefit payout option as Lump sum, with a policy term of 40 years and life cover of ₹50 Lakhs. The above mentioned premium is online premium and is inclusive of taxes.

4b The base premiums exclusive of taxes are fixed for the chosen plan option at the policy inception and don’t change during the policy term.

4c The premium of ₹1,581 p.m. has been approximately calculated for a 30 year old healthy, non-smoker male who has bought ‘Life Stage’ plan option with ‘Return of Premium’, premium payment term as ‘pay till 60’ years, death benefit payout option as Lump sum, with a policy term of 35 years and life cover of ₹50 lakh. The above mentioned premium is online premium and is inclusive of taxes. The life assured will receive 105% return of premium of ₹5,71,536 on survival till the end of the policy term.

5a The premium of ₹3208 p.m. has been approximately calculated for a 30 year old healthy, non-smoker female who has bought ‘Income Benefit’ plan option with ‘0.3% monthly income’, premium payment term as ‘pay till 60’ years,  death benefit payout option as Lump sum, with a policy term of 35 years and life cover of ₹1 Crore. The above mentioned premium is online premium and is inclusive of taxes.

5b The premium of ₹1905 p.m. has been approximately calculated for a 25 year old healthy male life with monthly mode of payment, death benefit payout option as Lump sum and premiums paid regularly for the policy term of 40 years with 'Return of Premium' plan option and Life Cover of ₹1 Crore. The above mentioned premium is online premium and is inclusive of taxes.

5c The above monthly premium of ₹2,338 is for a 30 year old, healthy smoker male life who has purchased ‘Return of Premium’ plan option under ICICI Pru iProtect Return of Premium and is paying premiums regularly for a policy term of 35 years for a life cover of ₹50 lakh and death benefit payout option as lump sum. The premium is for an online policy and is inclusive of taxes. The life assured will receive 105% return of premium of ₹9,86,076 on survival till the end of the policy term.

6a The premium rates for a female life assured are lower than that for a male life assured, keeping all other conditions constant.

6b The premium of ₹3455 p.m. has been approximately calculated for a 35 year old healthy male life with monthly mode of payment, death benefit payout option as Lump sum and premiums paid regularly for the policy term of 30 years with 'Return of Premium' plan option and Life Cover of ₹1 Crore. He gets his premiums back of ₹1,249,290 at the age of 65 years at policy maturity. The above mentioned premium is online premium and is inclusive of taxes.

6c Sum assured of 50L for ICICI Pru iProtect Return of Premium is now available with simpler underwriting guidelines in the form of bureau based income waiver and tele underwriting for a select set of customers. Please note that underwriting guidelines are subjected to change and will be in line with board approved underwriting guidelines. Issuance of the policy is subject to underwriting.

7a The above monthly premium of ₹1,377 is for a 30 year old, healthy non-smoker male life who has purchased ‘Return of Premium’ plan option under ICICI Pru iProtect Return of Premium and is paying premiums regularly for a policy term of 35 years for a life cover of ₹50 lakh and death benefit payout option as lump sum. The premium is for an online policy and is inclusive of taxes. The life assured will receive 105% return of premium of ₹5,80,797 on survival till the end of the policy term.

7b The premium of ₹8054 p.m. has been approximately calculated for a 45 year old healthy male life with monthly mode of payment, death benefit payout option as Lump sum and premiums paid regularly for the policy term of 20 years with 'Return of Premium' plan option and Life Cover of ₹1 Crore. The above mentioned premium is online premium and is inclusive of taxes.

7c The above monthly premium of ₹1,753 is for a 25 year old, healthy male life who has purchased ‘Return of Premium’ plan option under ICICI Pru iProtect Return of Premium and is paying premiums regularly for a policy term of 30 years for a life cover of ₹1 crore and death benefit payout option as lump sum. The premium is for an online policy and is inclusive of taxes. The life assured will receive 105% return of premium of ₹6,33,906 on survival till the end of the policy term.

8a The above monthly premium of ₹2,500 is for a 30 year old, healthy male life who has purchased ‘Return of Premium’ plan option under ICICI Pru iProtect Return of Premium and is paying premiums regularly for a policy term of 35 years for a life cover of ₹1 Crore and death benefit payout option as lump sum. The premium is for an online policy and is inclusive of taxes. The life assured will receive 105% return of premium of ₹10,54,431 on survival till the end of the policy term.

9a The above monthly premium of ₹2,097 is for a 30 year old, healthy Female life who has purchased ‘Return of Premium’ plan option under ICICI Pru iProtect Return of Premium and is paying premiums regularly for a policy term of 35 years for a life cover of ₹1 Crore and death benefit payout option as lump sum. The premium is for an online policy and is inclusive of taxes. The life assured will receive 105% return of premium of ₹8,84,646 on survival till the end of the policy term.

`a The above monthly premium of ₹5159 is for a 30 year old, health non-smoker male, who has selected ‘Income Benefit’ plan option for a life cover of 1 Crore, premium payment term as (60 –age) and policy term of 40 years with death benefit payout option as lump sum. The premium is for online policy and is inclusive of taxes.

~ This refers to the scenario of a life assured purchasing ICICI Pru iProtect Return of Premium, paying premiums and at the end of policy term, since he/she receives 105% return of premiums(means the total of all premiums received, excluding any extra premium, any rider premium and taxes) subject to survival of the life assured till the end of the policy term. Therefore, in absolute terms, net of 105% return of premiums and sum total of premiums exclusive of taxes is zero. Please note that Return of premiums is available on survival under three of the Plan Options: ‘Return of Premium’, ‘Return of Premium with Life-stage cover’ and ‘Early Return of Premium with Life-stage cover’ and refers to total of all premiums received, excluding premiums for optional benefits i.e. Accidental Death Benefit, Critical Illness Benefit, any extra premium, any rider premium and taxes, if any. The plan options ‘Return of Premium’ and ‘Return of Premium with Life-stage cover’ provide maturity benefit on survival of the Life Assured till the end of the policy term. The plan option ‘Early Return of Premium with Life-stage cover’ provides survival benefit on survival of the Life Assured till the policy anniversary immediately after the Life Assured turns age 60 or 70, depending on the return of premium age chosen by the customer at inception. The fourth plan option ‘Income Benefit’ provides regular monthly income from the policy anniversary after the Life Assured attains age 60 as a survival benefit till the end of the policy term. Please note that the sum of monthly incomes paid under this plan option can be higher or lower than the total premiums paid by the customer, and may not be return of premium.

// Claim statistics are for Financial Year FY2021-22 and is computed on individual basis claims settled over total individual claims for the financial year. For details, refer to Source: /content/dam/icicipru/about-us/FinancialInformation/AnnualReports/FY2022-AnnualReport.pdf

ICICI Pru iProtect Return of Premium UIN: 105N186V01.W/II/1996/2022-23. The Unique Reference Number is COMP/DOC/Feb/2023/212/2305.

© ICICI Prudential Life Insurance Co. Ltd. All rights reserved. Registered with Insurance Regulatory & Development Authority of India (IRDAI) as Life Insurance Company. Regn. No. 105. CIN: L66010MH2000PLC127837.
Reg. Off.: ICICI PruLife Towers, 1089 Appasaheb Marathe Marg, Prabhadevi, Mumbai 400025. Tel.: 40391600. Customer helpline number – 1860 266 7766. Timings – 10:00 A.M. to 7:00 P.M., Monday to Saturday (except national holidays). Member of the Life Insurance Council. For more details on the risk factors, term and conditions please read the product brochure carefully before concluding the sale. Trade Logo displayed above belongs to ICICI Bank Ltd & Prudential IP services Ltd and used by ICICI Prudential Life Insurance Company Ltd under license.

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