Overview
ICICI Prudential iProtect Smart Plus is a comprehensive term insurance plan that offers life cover up to 99 years, along with optional protection against critical illness and disability. There are three plan options you can choose from: Life, Life Plus, and Life Rebalancing. You have the flexibility to choose the premium payment term and convert from Regular Pay to Limited Pay.
This plan provides flexible payout options and return of premium options, ensuring financial flexibility for your family.
Key Benefits of iProtect Smart Plus Term Plan
- Premium Break
- Insta Payment Option
- Option to Change Premium Payment Term
- Online Lifetime Discount
- Discount for Female Policyholders
- Coverage up to 99 years
- Tax benefits under this plan include Section 80C and Section 10(10D).
Comprehensive Protection Coverage
The plan offers enhanced security with coverage for death, terminal illness, and disability, ensuring complete financial protection for your family.
Lower Premiums for Non-Smokers
Non-smokers can benefit from comparatively lower premium rates, making the plan more affordable.
Flexible Payout Options
Policyholders can choose how the claim is paid—either as a lump sum or as a monthly income for a fixed period, based on their family’s needs.
Flexible Payments and MWP Act Benefit
The plan offers multiple premium payment options (single, regular, or limited). Additionally, under the MWP Act, the claim amount can be secured exclusively for the spouse or children, ensuring financial safety.
Exclusions
Suicidal Exclusion
The iProtect Smart Plus Term Plan does not cover deaths due to suicide. If the policyholder dies due to suicide within the first 12 months of policy purchase, no death benefits are paid to their family. Instead, either 80% of the premiums paid to date or the surrender value of the policy is provided to their family.
More Plan Features
Flexible Plan Options
Choose from customised variants—Life, Life Plus, Life & Health, and All-in-One—based on your protection needs.
Comprehensive Risk Coverage
The plan goes beyond basic life insurance by covering multiple risks, including death, terminal illness, permanent disability (with premium waiver), accidental death, and critical illnesses (as per the option selected).
Multiple Payout Options
Policyholders can choose how the claim amount is paid to their family, be it lump sum, regular monthly income, or increasing income.
Plan Options Available with ICICI Pru Smart Plus Term Plan
There are three plan options available with the Smart Plus Term Plan:
| Plan Options |
Benefits |
| Life |
It is the purest form of term insurance plan that offers only death benefits to the policyholder's loved ones in case of their uncertain death during the policy tenure. |
| Life Plus |
This plan option offers death benefits along with accidental death benefits to the nominee. |
| Life Rebalancing |
Under this plan variant, the nominee will receive death benefits and accidental death benefit varying year on year. |
ICICI Pru iProtect Smart Plus Term Plan is an exclusive term insurance plan, perfect for every individual. It offers various benefits to policyholders, including choice of policy tenure, premium break benefit, discounts, and the option to change the premium payment term.
If you are confused about whether this plan is right for you, contact us at PolicyX.com. One of our insurance experts will help you choose a plan that best suits your requirements. We offer No Spam, No Gimmicks, and Only Expert Insurance Advice.
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