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ICICI Pru iProtect Smart Term Plan is a non-linked pure-term insurance plan. This plan provides advanced protection by offering comprehensive coverage against the 34 listed critical illnesses. Whether you are a salaried employee or a business owner this plan offers the flexibility to pay premium.
With ICICI Pru iProtect Smart, you can choose how the death benefit will be payable to the nominee such as you can choose from either lumpsum or lumpsom+ Regular Income payout.
ICICI Pru i-Protect Smart offers you a range of benefits including:
Minimum Age - 18 years Maximum Age - 65 years
Maximum Maturity Age - 100 years
Minimum term - 5 years Maximum term - 99 years
Min:Subject to the minimum premium Max: Unlimited
The policy loan is not available under ICICI Pru iprotect smart
Annual, half-yearly, quarterly & monthly
Let's understand how the ICICI Pru i-Protect Smart term plan works with a simple premium illustration.
Mrs. Priyanka Singh, a 34-year-old Pune-based Architect is looking for a term plan that gives life cover including inbuilt critical illness benefits.
She visited PolicyX.com to learn more about term insurance with critical illness coverage. PolicyX.com advisors carefully understand her query and suggest to purchase ICICI Pru i-Protect Smart.
Let us see a brief illustration of Priyanka's ICICI Pru i-Protect Smart
Age of policyholder | Annual premiums | Premium payment mode | Policy tenure | Premium payment term | Total premiums paid | Sum assured |
34 years | Rs 11,987 | Annually | 25 years | 25 years | Rs 299675 | Rs 50 lakhs |
Key Takeaways: Mrs. Priyanka singh will be covered untill the age of 59 years. In case of any unfortunate demise during policy term, her nominee will receive sum assured equal to Rs.50 lakhs.
Here are the benefits associated with the ICICI Pru iProtect Smart Term
ICICI Pru i-Protect Smart offers four different payout options, customers can choose any payout option as per their needs such as lumpsum payment, regular income, increasing income, and lumpsum plus income.
Under the provision of this plan, customers are allowed to get covered till the age of 85 and also have the option to get whole life cover till the age of 99.
Upon the unfortunate death of the second person during the policy term, an assured death benefit is equal to the sum assured will be paid to the partner, and the plan will continue with a reduced premium.
This plan offers special discounts on premium rates to women. Additionally, they get an option to cover diseases like breast cancer and cervical cancer which are common in today's time.
With life stage benefit, you have the option to increase your sum as per upcoming responsibilties.
All the premiums paid for the ICICI Prudential i-Protect Term plan can be used for claiming tax benefits as per Section 80C and Section 10(10D) of the Income Tax Act.
ICICI Pru iProtect Smart Term Insurance Plan
ICICI Pru iProtect Smart Plan Review
ICICI Pru IProtect Smart Term Plan Review
You can add the following riders to your ICICI Pru iProtect Smart Plan:
With ICICI Pru Accidental Death Benefit Rider, you can cover yourself with a maximum sum assured of 2 crore against any unfortunate accident that causes death.
With ICICI Pru Critical Illness Rider, you can protect yourself with a maximum sum assured of 1 crore against 34 critical illnesses.
ICICI i-Protect Smart term insurance plan comes with economical premiums. You can opt for a 1 Crore life cover starting with just Rs. 976/- month.
ICICI iProtect Smart term plan gives whole-life coverage. You can get covered till the age of 85 and you also have the option to get your whole life covered till age 99.
This plan offers four different payout options to receive death benefit. You can choose from a lump sum or regular income or a lump sum plus regular income payout as a death benefit.
This plan offers inbuilt protection for 34 listed critical illnesses. You can get an instant payout only by uploading a relevant diagnosis report.
Here is the list of exclusions associated with the plan:
ICICI Pru iProtect Smart Plan offers comprehensive coverage to the policyholders. Whether you need, inbuilt critical illness coverage or accidental death benefit coverage with the ICICI Pru iprotect Plan you can get all cover under the same plan. In case, you still have any doubts regrading this plan, you can contact PolicyX.com. Our advisors work 24/7 to solve every possible query of you.
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I am a passionate content writer with over three years of experience in the insurance domain. An avid learner, I always tries stays ahead of the industry's trends, ensuring my writing remains fresh and includes the latest insurance shifts. Through my work, I strive to engage with targeted insurance readers.
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