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Life Raksha Plan
789-/ per month
VS
Smart Shield Plan
532-/ per month
ICICI Pru Life is a pure protection term insurance plan designed to provide affordable financial security for families. The plan offers life cover ranging from ₹50,000 to ₹5 lakh with tax benefits on premiums paid.
The plan is offered by ICICI Pru Life Insurance company and comes with tax benefits against the premiums that you pay. The premium payment term of the Life Raksha plan is regular pay for 5 years. It is to be noted that this plan does not come with any maturity or surrender benefits.
Here are some benefits of this plan:
| PLAN DETAILS |
Life Raksha Plan |
Smart Shield Plan |
| Premium Including GST | ||
| Key Features (Key features of the plan) |
|
|
| Plan Maturity age | Maximum Maturity Age - 70 years | Maximum Maturity Age - 80 years |
| Plan Sum Assured | 10 times annual premium | Basic Sum Assured: ₹25L to No Limit |
| Plan Entry Age | Minimum Age - 18 years Maximum Age - 60 years | Minimum Age - 18 years Maximum Age - 60 years |
| Plan Payment modes | Annual, half-yearly, quarterly & monthly | Half-Yearly, Quarterly, and Monthly |
| Plan Policy loan | Policy loan is not available under ICICI Life Raksha Plan | The policy loan is not available under SBI Life Smart Shield Plan. |
| Plan Sample Premium | Rs 789-/ per month | Rs 532-/ per month |
| Plan Brochure | Brochure URL | Brochure URL |
| Policy Term | Minimum term - 5 years Maximum term - 5 years | Minimum term - 5 years Maximum term - 80 years |
| Claim Settlement Ratio (2024-25) | 99.33% | 98.83% |
|
ICICI Prudential Term Insurance SBI eShield term insurance plan |
||
* The above sample premiums are for a 30-year-old male, nonsmoker with a sum assured of Rs 50 lakhs and a policy tenure of 25 years. You can calculate the premiums for the above term insurance plans using the PolicyX Term Insurance Calculator.
You can add the following riders to your SBI Life Smart Shield Plan:
Accidental Death Benefits Riders provide an additional sum if the policyholder dies within 120 days of the accident.
Accidental Total and Permanent Disability Rider covers the policyholder if any accident occurs that leads to the permanent disability of the policyholder.
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