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Overview
The iProtect Super Term Plan by ICICI Life Insurance is an exclusive term insurance plan designed for self-employed individuals or business owners. This pure protection plan offers financial security to your loved ones against life's uncertainties. You have the flexibility to choose from two plan options: Limited Pay and Regular Pay, as per your financial requirements. In case of any uncertainty or emergency, you have the option to take a premium break for up to 12 months.
Key Benefits of iProtect Super Term Plan
- Flexible Policy Tenure
- Choice of Plan Option
- Premium Break Option
- Premium Discounts for Females
- Loyalty Discounts
- Choice of Death Benefit Payout
Plan Options Available with ICICI iProtect Super Term Plan
There are two plan options available with the iProtect Super Term Plan:
| Plan Options | Benefits |
|---|---|
| Limited Pay | This plan variant allows policyholders to pay policy premiums for a limited tenure, including 5, 7, 10, or 15 years. |
| Regular Pay | Under this plan variant, the policyholder pays the premiums for the entire policy tenure chosen by them. |
Key Features of ICICI iProtect Super Term Plan
Premium Break Option
You have the option to skip your premiums for 12 months in case of an emergency or unforeseen situation. Your life cover will continue, and you will need to pay the skipped premiums the following year.
Flexible Policy Tenure
This plan offers the flexibility to choose a policy tenure that best suits your financial needs and future goals.
Choice of Premium Payment
You can choose to pay your policy premiums either for the entire policy tenure or for a limited term of 5, 7, 10, or 15 years.
Smart Exit Benefit
This plan provides policyholders with an option to cancel the policy and receive Smart Exit benefits equal to the total premiums paid, subject to certain conditions.
Additional Benefits
Death Benefits
The ICICI iProtect Super Term Plan offers death benefits to the nominee in case of the policyholder’s unfortunate death during the policy tenure.
Additional Coverage
This plan offers policyholders additional coverage against accidental death or total/permanent disability due to an accident.
Loyalty Discounts
You can avail of loyalty discounts of 7% on the first-year premiums if you are an existing customer of ICICI Prudential Life Insurance.
Premium Discount for Female Policyholders
This plan provides a 15% lifetime premium discount to female policyholders, making it a more affordable option for them.
Riders Available with iProtect Super Term Plan
You can avail the following rider with the ICICI iProtect Super Term Plan:
ICICI Non-Linked Accidental Death and Disability Rider
This rider offers an additional sum assured if the policyholder suffers accidental death or total/permanent disability due to an accident.
Exclusions
Suicide Exclusion
The iProtect Super 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.
