ICICI Pru iProtect Smart Plan
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ICICI Pru iProtect Smart Plan June, 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.

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

ICICI Pru iProtect Smart Plan
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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.

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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**


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.

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Explore Other ICICI Best Term Insurance Plans

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

  • ICICI Pru iProtect Smart Term Plan
  • ICICI Pru iProtect Return of Premium
  • ICICI Pru iCare II
  • ICICI Pru Saral Jeevan Bima
  • ICICI Pru Precious Life
  • ICICI Pru Life Raksha
  • ICICI Pru Loan Protect 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

  • Flexibility to choose protection cover.
  • Death by accident coverage
  • Unlimited sum assured options.

ICICI Pru iProtect Return of Premium helps you to secure your family as well as guarantee a survival/maturity benefit. Additionally, the plan safeguards against 64 critical illnesses.

Unique Features

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

A comprehensive coverage plan for you and your family including death, terminal illness and disability.

Unique Features

  • Coverage for female organ cancers.
  • 4 payout options to choose from.
  • MWP Act available

ICICI Pru Life Raksha

ICICI Pru Life Raksha is a pure-term insurance plan specially designed for those who are looking for an affordable and lower coverage. The plan comes with a sum assured of Rs. 5 Lakhs only.

Unique Features

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

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 Precious Life

A life cover for people with existing health problems or have undergone critical surgeries.

Unique Features

  • Flexibility to pay the premium.
  • Option to choose payout benefit.
  • Accidental benefit

ICICI Pru Saral Jeevan Bima is a standard term plan that comes with simple features and is ideal for people who are looking for a term insurance plan with pocket-friendly premiums.

Unique Features

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

How to Contact ICICI Pru Life Insurance Company?

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


1860 266 7766

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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.

iProtect Smart Term Plan Insurance Review

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

Customer Review Image

Kalpana Gupta


February 10, 2022

It is one of the best companies as they explained the benefits of the term insurance then suggested me the best suitable plan as per my needs. I am happy to be associated with this company.

Customer Review Image

Dinesh Chopra


November 22, 2021

Amazing life insurance plans at very cheap prices. sales team is also very good. they explained the plan to me very well. I am very impressed.

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Shreya Sharma


October 5, 2021

Just got my claims settled. Thank god my husban chose ICICI term plan who understand how important the hassle-free claim is a blessing at this point when you have lost your everything. Thankyou...

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Anshuman Dami


September 13, 2021

bought a term plan from icici pru after carefully considereing that covid like situation is imminent. my fam needed protection financially and now they have it

Customer Review Image



September 13, 2021

will be foreever grateful to policyx for helping me settle the claim...really needed all the support in this time

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Ishan Khatri


September 9, 2021

went to get the death benefits after my husband s recent death...support staff was very nice and helped fasten the process

Customer Review Image

Rohan Kumar


June 18, 2021

Thanks to policyx. I called them to compare plans and I get a good guidance about ICICI Pru. This plan helped me a lot in my crisis

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Umang Singh


May 24, 2021

I purcharsed iProtect Smart policy from ICICI a year ago and am really satistfied with this one. Policy provides gives many benefits and i have also suggested this policy to my other family me...