ICICI Pru iProtect Smart Plan
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ICICI Pru iProtect Smart Plan November, 2023

ICICI Prudential iProtect Smart Term Plan provides advanced protection to the policyholder by offering claim payment on the diagnosis of any of the listed 34 critical illnesses. In addition to delivering protection to the family of the policyholder in his/her absence, it also gives flexibility in paying premiums as per the comfort of the policyholder with tax benefits.

Not just this, ICICI Pru iProtect Smart plan comes with a long list of useful features and benefits, which are designed to provide maximum financial protection to the family members of the insured when they are no longer around.

Continue reading to explore all the features & benefits of the plan.

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Eligibility Criteria of ICICI Pru iProtect Smart Plan

Entry Age

Min: 18 years
Max: 65 years

Sum Insured

Min:Subject to the minimum premium
Max: Unlimited

Policy Term

5 to 99 years

Premium Payment Options

Single premium, Regular premium, Limited premium

Premium payment mode

Single, Yearly, Half-yearly, and Monthly

Benefits of ICICI Pru iProtect Smart Plan

Death Benefit

There are four types of death benefit

Long Term Cover

Under the provision of this plan

Optional Covers

ICICI iProtect Smart plan comes with

Add-on Benefits

To ensure enhanced protection

Special Privileges to Women

Women while purchasing iProtect Smart

Payout Options

The plan offers 4 payout options

Life Stage Benefit

Sometimes people feel short of funds

Tax Benefits

The premiums submitted for the policy

Death Benefit

There are four types of death benefit payout options available in this plan. Customers can opt for any of these payout options depending upon the way in which they desire to provide the payment of the coverage amount to their family members in the future. Given below is a brief explanation of all these options.

  • Lump Sum Payment: wherein the nominee will receive the complete coverage amount in lump sum after death.
  • Regular income: wherein the nominee will receive a regular income per month.
  • Increasing income: wherein, the benefit amount will keep on ascending following each year.
  • Lumpsum plus income: wherein the beneficiary will get the benefit of both lump sum and fixed regular incomes on the sum insured.
Long Term Cover

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.

Optional Covers

ICICI iProtect Smart plan comes with useful optional benefits including accidental death benefit and critical illness benefit. These riders allow the policyholder to avail enhanced coverage by paying minimal premiums.

Add-on Benefits

To ensure enhanced protection of its customers, the plan comes with two add-on benefits such as terminal illness benefits and waiver of premium benefits.

  • Premium Waiver Benefit: Under this benefit, all the future premium amounts of the policyholder get waived off if in case he/she becomes disabled due to an accident. The future premiums are borne by the company and the cover stays intact till the policy term.
  • Terminal Illness Benefit: Under this benefit, complete coverage is provided to the insured person if he/she gets diagnosed with a terminal illness including AIDS as well. ICICI Pru iProtect Smart plan pays the AIDS-infected policyholders too.
Special Privileges to Women

Women while purchasing iProtect Smart term insurance will get relaxation in the rate of premium to be paid. Additionally, they get an option to cover diseases like breast cancer and cervical cancer which are common in today's time.

Payout Options

The plan offers 4 payout options, wherein you can select the payout option as per your requirements when buying the policy.The four available payout options are:

  • Lump sum
  • Monthly income
  • Increasing income &
  • Lump sum plus income
Life Stage Benefit

Sometimes people feel short of funds on the happening of life-changing events that can financially affect their savings and income. Events like childbirth, the marriage of children are the major responsibilities of parents. To protect you in such scenarios, the iProtect Smart plan grants the flexibility to increase the current sum insured to meet the responsibilities.

Events Additional Death Benefit (% of original death benefit ) Maximum Additional Death Benefit
Marriage 50% Rs 50,00,000
Childbirth/ legal adoption (1st child) 25% Rs 25,00,000
Childbirth/ legal adoption (2nd child) 25% Rs 25,00,00
Tax Benefits

The premiums submitted for the policy will receive all the benefit options under section 80C. While premium payment under life & health and all in one option will receive benefits under section 80D.

Optional Benefits Available in ICICI Pru iProtect Smart Plan

The plan comes with two optional benefits and allows customers to select any of these options as per their needs and convenience. Read below to know more about these optional benefits.

  • Accidental Death Option: To give protection against accidents, iProtect smart policy provides maximum coverage of 2 crore in case of death that happens due to an accident. A policyholder can choose this benefit during the policy term or at the time of purchase.
  • Critical Illness Benefit: As per the terms and conditions of this optional cover, if the policyholder is diagnosed with a critical illness then the complete cover amount is provided to him/her immediately. The claim amount will be paid immediately on the investigation of critical illness by just submitting the photocopy of the diagnosis report only. The maximum payout is up to 1 crore.

The plan provides coverage against 34 critical illnesses as listed below.

  • Cancer of specified severity
  • Angioplasty*
  • First heart attack - of specified severity
  • Open heart replacement or repair of heart valves
  • Surgery to aorta heart and artery benefit
  • Cardiomyopathy
  • Primary pulmonary hypertension
  • Open chest CABG
  • Blindness
  • Chronic lung disease
  • Chronic liver disease major Organ Benefit
  • Kidney failure requiring regular dialysis
  • Major organ/bone marrow transplant
  • Apallic syndrome
  • Benign brain tumour
  • Brain surgery
  • Coma of specified severity
  • Major head trauma
  • Loss of independent existence
  • Loss of limbs
  • Deafness
  • Loss of speech others
  • Medullary cystic disease
  • Systemic lupus Eryth with Renal Involvement
  • Major burns
  • Aplastic anemia
  • Stroke resulting in permanent symptoms brain and nervous system benefit
  • Alzheimer's disease
  • Motor neurone disease with permanent symptoms
  • Multiple Sclerosis with persisting symptoms
  • Muscular Dystrophy
  • Parkinson's disease
  • Poliomyelitis
  • Permanent paralysis of limbs

ICICI Pru iProtect Smart Coverage Options

There are four coverage options available within this plan. Let's learn about them in detail.

  • Life
    By choosing this option the beneficiaries or the nominees of the insured will get a complete payout of the sum insured in the event of death or incurable illness. This option becomes resourceful when you are detected with a personal disability happening due to an accident.
    Consequently, future premiums are waived off to minimize the load of the insured.
  • Life Plus
    It includes all the benefits under life options and covers accidental death benefits which would come in function in the event of death due to an accident. The policy shall terminate following the payment of claims made under such benefits.
  • Life Plus Health
    In supplement to the life options benefits, Life Plus health also offers coverage for critical illnesses. On the occurrence of any one of the listed critical illness, the company shall pay the whole sum insured opted for critical illness benefit regardless of the actual amount incurred on the treatment of the disease.
  • All in One Option
    This will cover death benefits on the detection of terminal illness or personal disability due to an accident, accidental benefit, and critical illness benefits.

Regardless of the plan option selected, death, terminal illness, and permanent disability are covered. For better understanding, refer to the below table:

Coverage in case of an unfortunate event Life Life Plus Life & Health All-in-one
Death/ Terminal Illness (including AIDS) Yes Yes Yes Yes
Waiver of all future premiums on permanent disability due to accident Yes Yes Yes Yes
Accidental Death No Yes No Yes
34 Critical Illness No No Yes Yes

Sample Premium Illustration of ICICI Pru iProtect Smart Plan

Before buying an insurance plan, it is important to get an idea about its premium rates that you'll be paying in the future. That is why we've provided here a sample chart to illustrate the different premium rates of the iProtect Smart plan. The premium amounts in this chart are calculated for a nonsmoker male, buying the life cover of Rs 50 Lakhs with no add-on riders or optional benefits, opting for monthly premium payment mode.

Regular Pay (Pay for 30 Years)

Age of the Policyholder 30 years 40 Years 50 Years
Premium (in Rs.) 685 1,378 2,250

Limited Pay (Pay for 10 years)

Age of the Policyholder 30 years 40 Years 50 Years
Premium (in Rs.) 1,298 2,683 3,664

Single Pay (Pay at once)

Age of the Policyholder 30 years 40 Years 50 Years
Premium (in Rs.) 1,29,211** 2,61,574** 5,46,817**

Exclusions

ICICI Pru iProtect Smart Plan offers comprehensive coverage to the policyholders, there are a few conditions or situations for which the coverage is excluded in this plan. Given below is a list of the same.

No benefit is provided in respect to any of the listed condition arising directly or indirectly due to:

  • Pre-existing diseases.
  • Self-inflicted injury, suicide, insanity.
  • Consumption of drugs, alcohol.
  • Participating in a criminal act with criminal intent.
  • Injuries happening due to war.

Explore Other ICICI Term Insurance Plans

You can find other term policies offered by the ICICI Term Insurance company in the section below:

Critical Illness Plan

The plan offers coverage for 64 critical illnesses, 360-degree protection, and enhanced safeguarding against accidental death.

Unique Features

  • 4 plan options
  • Live-stage coverage
  • Enhanced protection with riders

iProtect Return of Premium (Pros)

  • Income Benefit Post 60 Years
  • ROP with Life-stage cover
  • Survival Benefits

iProtect Return of Premium (Cons)

  • Income Benefits for a non-smoker
  • No Critical Illness Cover With LP
  • Critical Illness Caused by Sterility and Infertility

iProtect Return of Premium (Other Benefits)

  • Loyalty Discount of 5% & 2%
  • Critical Illness (CI) Benefit
  • Accidental Death Benefit Cover up to 2 Cr

iProtect Return of Premium (Eligibility Criteria)

  • Entry Age -18 Years
  • Max Entry Age- 65 Years
  • Minimum Sum Assured - NA
  • Maximum Maturity Age - 85 Years
  • Premium Payment Term - 5 To 40 Years

Comprehensive Plan

ICICI Pru POS iProtect Smart

The plan provides coverage for road and train accidents, physical incapacity and comes with discounts for women.

Unique Features

  • 4 Payout Options
  • AIDS Cover
  • Accident Benefit of 2 Cr

POS iProtect Smart (Pros)

  • Life Coverage upto 99 Years
  • Buy Online With MWP Act
  • 34 Critical Illnesses Covered

POS iProtect Smart (Cons)

  • No Survival Benefit
  • No Loans Allowed
  • No ACI for Single Pay

POS iProtect Smart (Other Benefits)

  • Covers Suicide
  • Special Premium Rates for Women
  • Accelerated Critical Illness (ACI Benefit)

POS iProtect Smart (Eligibility Criteria)

  • Entry Age -18 Years
  • Max Entry Age- 65 Years
  • Minimum Sum Assured - NA
  • Max Maturity Age - 75 Years (SP)
  • Premium Payment Term - 5yrs (RP), (SP), 10 yrs(LP)

Comprehensive Plan

ICICI Pru Protect N Gain

This plan provides accidental death cover with lump sum payouts for accidental death and disability, also offering to grow wealth through market-linked returns.

Unique Features

  • 4 Portfolio Strategies
  • Unlimited Free Switches of Funds
  • Systematic Withdrawal Plan

ICICI Pru Protect N Gain (Pros)

  • Surrender Value
  • Maturity Benefit
  • Accidental Disability Cover Upto 1 Cr

ICICI Pru Protect N Gain (Cons)

  • No Loan Benefit
  • Return of Mortality
  • Premium Allocation Charges

ICICI Pru Protect N Gain (Other Benefits)

  • Maturity Booster
  • Choose the PPT & PT
  • First Five Policy Years Partial Withdrawal Allowed

ICICI Pru Protect N Gain (Eligibility Criteria)

  • Entry Age -18 Years
  • Max Entry Age- 60 Years
  • Minimum Sum Assured - 5L
  • Maximum Maturity Age - 90
  • Premium Payment Term - SP/RP/LP

Comprehensive Plan

ICICI Pru iShield

This policy includes benefits for death and disability, along with valuable add-ons like sum insured protector and claim protector.

Unique Features

  • Restore Benefit
  • 3 Payout Options
  • Terminal Illness Cover

ICICI Pru iShield (Pros)

  • Life cover Till the age of 85 years
  • Day Care Treatment Covers
  • Waiver of Future premiums For Permanent Disability

ICICI Pru iShield (Cons)

  • No Loan Benefit
  • Only Regular Pay is Available
  • No Survival Benefit

ICICI Pru iShield (Other Benefits)

  • Suicide Cover
  • Increasing Income Benefit
  • Pre and Post Hospitalisation Cover

ICICI Pru iShield (Eligibility Criteria)

  • Entry Age -18 Years
  • Max Entry Age- 60 Years
  • Minimum Sum Assured - 50L
  • Maximum Maturity Age - NA
  • Premium Payment Term - Regular Pay

Standard Plan

ICICI Pru iCare II

ICICI Pru iCare II is a term plan that lets you secure your family’s future, and allows you to choose the number of years for which you wish to pay the premiums.

Unique Features

  • Choose Your Cover
  • Accidental Death Cover
  • Unlimited SA Options

ICICI Pru iCare II (Pros)

  • 2 Crore Accidental Death Benefit
  • One Pay & Single Pay Option
  • Unexpired Risk Premium Value

ICICI Pru iCare II (Cons)

  • No Maturity Benefit
  • No Loans Allowed
  • Death Due To Drugs

ICICI Pru iCare II (Other Benefits)

  • Suicide Cover
  • Tax Benefit
  • Affordable Plan

ICICI Pru iCare II (Eligibility Criteria)

  • Entry Age -18 Years
  • Max Entry Age- 65 Years
  • Minimum Sum Assured - Adaptable
  • Maximum Maturity Age - NA
  • Premium Payment Term - SP

Standard Plan

A standard pure protection term plan that offers coverage on affordable premiums.

Unique Features

  • Choose premium payment term
  • Death by accident cover
  • Tax benefits available

ICICI Pru Saral Jeevan Bima (Pros)

  • Available For Online Buying
  • Max Sum Assured 1 Cr
  • Choose To pay Premium Once

ICICI Pru Saral Jeevan Bima (Cons)

  • No Survival Benefit
  • No Surrender Benefit
  • No Maturity Benefit

ICICI Pru Saral Jeevan Bima (Other Benefits)

  • Suicide Cover
  • Spouse Cover
  • Policy Revival Within 5 Years

ICICI Pru Saral Jeevan Bima (Eligibility Criteria)

  • Entry Age -18 Years
  • Max Entry Age- 65 Years
  • Minimum Sum Assured - 5 L
  • Maximum Maturity Age - NA
  • Premium Payment Term - RP/SP/LP(5&10 Years)

Specialized Plan

ICICI Pru Precious Life

The plan covers cancer survivors, pre-existing conditions, post-surgery individuals and offers lump sum and income benefits.

Unique Features

  • Increasing Income Benefit
  • Non-smoker Benefit
  • Medical Reports On Request

ICICI Pru Precious Life (Pros)

  • 4 Flexible To Take Death Benefit
  • Loyalty Benefit For 5% RP, 2% LP
  • Unexpired Risk Premium Value or LP/SP

ICICI Pru Precious Life (Cons)

  • Extra Mortality Premium
  • No Loans Allowed
  • No Maturity Benefit

ICICI Pru Precious Life (Other Benefits)

  • Suicide Cover
  • Tax Benefit
  • Obesity, Diabetes, High BP, Asthma

ICICI Pru Precious Life (Eligibility Criteria)

  • Entry Age -18 Years
  • Max Entry Age- 65 Years
  • Minimum Sum Assured - 2 L
  • Maximum Maturity Age - NA
  • Premium Payment Term - RP/SP/LP(5&10 Years)

Standard Plan

ICICI Pru Life Raksha

A pure term plan that offers low coverage of 5 lakhs and premium discounts.

Unique Features

  • A 5-year regular pay policy
  • Immediate payout
  • Flexible premium payment options

ICICI Pru Life Raksha (Pros)

  • Death Benefit
  • Suicide Cover
  • Policy Revival Within 5 Years

ICICI Pru Life Raksha (Cons)

  • No Maturity Benefit
  • No Loans Allowed
  • No Surrender Benefit

ICICI Pru Life Raksha (Other Benefits)

  • 30 Days Grace Period
  • Tax Benefit
  • Affordable Plan

ICICI Pru Life Raksha (Eligibility Criteria)

  • Entry Age -18 Years
  • Max Entry Age- 65 Years
  • Minimum Sum Assured - 50 K
  • Maximum Maturity Age - NA
  • Premium Payment Term - 5 Years

Affordable Plan

ICICI Pru Loan Protect Plan

ICICI Pru Loan Protect protects your family from the outstanding home and car loans in your absence.

Unique Features

  • Flexible premium payment term
  • Fixed/Reducing cover option
  • Avail tax benefit

ICICI Pru Loan Protect Plan (Pros)

  • 125% Death Benefit
  • Suicide Cover After 12 Months
  • Surrender Value For One Pay Option

ICICI Pru Loan Protect Plan (Cons)

  • No Maturity Benefit
  • No Disability Cover
  • Only Single Pay Option

ICICI Pru Loan Protect Plan (Other Benefits)

  • Home Equity Loan
  • Commercial Property Loan
  • Land Loans

ICICI Pru Loan Protect Plan (Eligibility Criteria)

  • Entry Age -18 Years
  • Max Entry Age- 65 Years
  • Minimum Sum Assured - 50L
  • Maximum Maturity Age - NA
  • Premium Payment Term - SP/5 Yrs

Affordable Plan

ICICI PRU Loan Protect Plus Plan

The plan covers death, accidental death, critical illness, and total and permanent disability offering loan benefits during periods of income loss.

Unique Features

  • Accelerated CI Cover
  • Total and Permanent Disability
  • Fixed / Reducing Coverage

ICICI PRU Loan Protect Plus Plan (Pros)

  • 125% Death Benefit
  • Suicide Cover After 12 Months
  • Surrender Value For One Pay Option

ICICI PRU Loan Protect Plus Plan (Cons)

  • No Suicide Cover For AD Benefit
  • No Tumor Treatment
  • No Pre Existing Diseases Cover

ICICI PRU Loan Protect Plus Plan (Other Benefits)

  • Choice of Premium Payment Terms
  • Tax Benefit
  • Choice of Coverage Options

ICICI PRU Loan Protect Plus Plan (Eligibility Criteria)

  • Entry Age -18 Years
  • Max Entry Age- 65 Years
  • Minimum Sum Assured - 5L
  • Maximum Maturity Age - NA
  • Premium Payment Term - SP/5 Yrs

How to Contact ICICI Pru Life Insurance Company?

ICICI PruLife Towers, 1089 Appasaheb Marathe Marg, Prabhadevi, Mumbai 400025

lifeline@iciciprulife.com

1860 266 7766

iProtect Smart Term Plan: FAQs

1. I am a smoker. Will this fact anyhow affect my ICICI iprotect premium?

Yes, a person with a smoking habit is liable to pay more premium than non-smokers. This happens because smoking increases the risk of death from serious lung illnesses and cancer, which means if you are a smoker then your iProtect Smart ICICI insurance premium rates will be higher.

2. Can I avail loan under the ICICI Pru Smart Protect plan?

No, ICICI Pru iProtect Smart does not come with any maturity benefit, so you cannot avail of any loan under the plan.

3. Can I change my ICICI PruLife iprotect smart plan's sum assured during the policy duration?

Yes ICICI Pru iProtect Smart Term Plan allows the policyholders to increase your life cover amount after your marriage or the addition of your children into your family.

4. Will I get the complete refund of my ICICI Pru iProtect Smart Plan if I cancel my plan during the free-look period?

Yes, your premium for your iProtect Smart ICICI Insurance will be returned to you after deducting the Stamp duty charges and any medical expenses covered by the company.

5. What will happen if my nominee dies before me?

In case your nominee is dead before you, the first thing you need to do is inform the insurance company. The company will then assist you in the further procedure of changing your nominee.

6. How much discount a woman can get under ICICI Pru iProtect Smart Plan?

Under this plan, a woman will be eligible to get 18% lower premium rates than a man.

7. How can I choose the ideal term for my ICICI Pru iProtect Smart Plan?

Every individual's needs are different, therefore we cannot decide the ideal term for your policy. However, It is recommended to have a term till retirement. For example, if you are 30 years old and plan to retire at 60, you should purchase a 30-year term life insurance policy.

Thus, if the above scenario fits in your case then the policy term could be equal to your expected retirement age minus your current age.

8. Will my Life Coverage premium change if I obtain a critical illness benefit?

Yes, the value of the Critical Illness Benefit given to you will lower the Life Coverage. As a result, the premiums you'll have to pay in the future will be lower.

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iProtect Smart Term Plan Insurance Review

Read what our customers have to say about iProtect Smart Term Plan Insurance Company

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Vaibhav gupta

Belgaum

February 16, 2024

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Chandigarh

January 25, 2024

Getting term insurance from PolicyX.com was easy. The online application was simple, and I could easily compare different plans. The website gave clear information, and I got my policy without ...

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Agra

October 5, 2023

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Tanushree Sengupta

Hyderabad

October 5, 2023

I highly recommend PolicyX.com for anyone looking to purchase an ICICI Prudential term insurance plan. They made the process simple and efficient.

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Aniket Verma

Jaipur

October 5, 2023

PolicyX.com s guidance and support were instrumental in helping me choose the right ICICI Prudential term insurance plan.

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Naina Kapoor

Kolkata

October 5, 2023

I m grateful to PolicyX.com for helping me secure my family s financial future with an ICICI Prudential term insurance plan.

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Kanpur

October 5, 2023

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Chennai

October 5, 2023

I found PolicyX.com to be a reliable and trustworthy platform for purchasing my ICICI Prudential term insurance policy.