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Overview
As a woman, your responsibilities and financial priorities shift with every stage of life: career, marriage, motherhood, and beyond. ICICI Life iProtect Smart Her, offered under the ICICI Life iProtect Smart Plus platform, is a term insurance plan designed specifically to keep pace with these changes.
It goes beyond a standard life cover, combining:
- Financial protection for your family
- Women-specific health management and wellness benefits
- A pregnancy break feature for added flexibility
- A 15% lifetime premium discount
- Child Education Care through an increasing income payout option
Key Features of ICICI Life iProtect Smart Her Plan
| Feature | What It Offers |
|---|---|
| Premium discount | 15% lifetime discount for women policyholders |
| Coverage till | Age 99 |
| Payout options | 4 flexible options (Income / Lump Sum / Lump Sum + Income / Increasing Income) |
| Terminal illness benefit | Payout before death on terminal illness diagnosis |
| Accidental cover | Optional add-on for extra protection |
| Premium break | Continue life cover even during a financial crisis |
| Instant relief payout | Instant payout on claim registration up to ₹3 Lakh |
| MWP Act option | Protects payout for spouse/children from legal claims |
| Payment modes | Yearly, half-yearly, or monthly |
Affordable Premiums That Fit Your Budget
Between rent, utility bills, and daily expenses, insurance premiums shouldn't stretch your wallet. This term insurance is priced to fit into everyday budgets, with the flexibility to pay yearly, half-yearly, or monthly.
Sample Premium Table
(Healthy, non-smoking, salaried male, regular pay, lump sum payout option)
| Age | Life Cover | Policy Term | Annual Premium |
|---|---|---|---|
| 30 Years | ₹1 Crore | 35 Years | 1st Year: ₹9,641 · From 2nd Year: ₹11,018 |
| 40 Years | ₹1 Crore | 25 Years | 1st Year: ₹15,492 · From 2nd Year: ₹17,705 |
| 50 Years | ₹1 Crore | 15 Years | 1st Year: ₹29,353 · From 2nd Year: ₹33,546 |
Taxes (if any) are charged extra, as per applicable rates.
Protection for Your Family, Wellness for You
The plan doesn't stop at a death benefit. It also includes health and well-being services designed to support the policyholder while she's alive, combining financial security for the family with proactive wellness support.
Long-Term Coverage: Up to Age 99
The earlier you buy, the lower your premium and the longer your protection window. This plan can cover you all the way up to age 99, making it a long-term financial safety net rather than a short-term fix.
Four Flexible Payout Options
Every family's needs are different, so the payout shouldn't be one-size-fits-all. Choose how your nominee receives the life cover:
| Payout Option | How It Works |
|---|---|
| Income | Nominees receive a regular monthly income for 10 years, as chosen at policy inception, providing a steady long-term income source. |
| Lump Sum plus Income | Nominee receives a lump sum plus a monthly income for 10 years, covering major liabilities and providing ongoing income. |
| Lump Sum | Nominees receive the entire life cover as a one-time payout, useful for clearing major liabilities immediately. |
| Increasing Income | Provides extra life cover beyond the amount originally selected. Nominees receive a monthly income that increases 10% p.a. (simple interest) each year, helping offset inflation over time. |
Note: Premium amount varies depending on the payout option selected.
Terminal Illness Benefit
If diagnosed with a terminal illness (high likelihood of death within six months, as certified by a specialist), the plan pays out the life cover before death, giving the family financial support when it's needed most. This benefit is available across all plan options.
Optional Accidental Benefit
Accidents are unpredictable, but their financial impact doesn't have to be. You can add an optional accidental cover at the time of purchase.
Example: Life cover of ₹1 Crore + Accidental Benefit of ₹50 Lakh → nominee receives ₹1.5 Crore in case of accidental death.
(Maximum Accidental Death Benefit amount is subject to the Board Approved Underwriting Policy.)
Support During Financial Crisis: Premium Break
Life doesn't always go as planned. The plan offers a premium break feature, letting you pause payments during a financial crunch without losing your life cover protection.
Instant Payout on Claim Registration
In moments of grief, immediate financial relief matters. The plan offers an instant payout as soon as a claim is registered, helping the family manage urgent expenses without delay.
Buy Online with MWP Act Protection
Worried about the claim amount being wrongfully claimed by relatives or creditors instead of reaching your spouse or children? You can purchase this online term plan under the Married Women's Property (MWP) Act, which legally ring-fences the payout for your spouse and/or children.
Exclusions
- Waiting Period: If death occurs within 90 days of risk commencement, no Death Benefit is paid. Premiums are refunded, except in accidental death cases.
- Accidental Death Exclusions: No benefit is paid for suicide, self-harm, war, riots, illegal activities, substance abuse, unauthorized flying, adventure or hazardous sports, or nuclear/chemical/biological exposure.
- Suicide Clause: If suicide occurs within 12 months of policy commencement or revival, the higher of 80% of premiums paid or Policy Cancellation Value is paid, after which the policy terminates.
Documents Required for ICICI Life iProtect Smart Her
For Policy Issuance
- Officially Valid Document (OVD) for identity and address proof
- Recent passport-size photograph
- Age proof (if not established through OVD)
- PAN (or Form 97, wherever applicable)
- Payout mandate — bank account details
- Customer Declaration Form (CDF)
- Agent confidential report (based on login source)
- Passport (for NRI applicants)
- FATCA/CRS declaration (where applicable)
- Any other document as required by the Company on a case-to-case basis
For Claim Settlement (General)
- Duly filled and signed Claimant Statement Form
- Death Certificate of the Life Assured (government-issued)
- Claimant's address proof
- Claimant's photo identity proof
- Recent photograph of the claimant
- PAN card / Form 97 of the claimant
- Duly filled and signed payout mandate form with bank details
- Cancelled cheque / bank statement / passbook copy with account number and claimant's name.
Conclusion
ICICI Life iProtect Smart Her stands out as a term plan that adapts to a woman's changing life priorities rather than offering a one-size-fits-all cover, combining affordable premiums, a lifetime discount, flexible payout structures, and thoughtful additions like the pregnancy break and MWP Act protection. For women looking to secure their family's financial future while also accounting for their own health and long-term wellness, it offers a well-rounded, 360-degree layer of protection worth considering.
