1. Premium Guarantee: The premium for your life cover will remain the same for the entire premium payment term. The same premium guarantee stands strong in case you opt for the Critical Illness cover offered in this plan.

2. Terminal illness cover: In case of a terminal illness, the entire life cover amount will be paid out to the nominee immediately⁶

3. Waiver of premium on disability: In case of a permanent disability due to an accident, all future premiums are waived off for the plan and the cover continues for the rest of its term⁵

4. Critical Illness cover: To secure you from the financial risks associated with the medical expenses, the plan offers you critical illness cover that pays on the diagnosis of 34 Critical Illnesses²

ICICI Pru iProtect Smart is a comprehensive life cover plan designed to insure your family as per your individual needs. You can customize every aspect of your insurance plan while making the purchase:

Life Cover: Depending on the financial needs of your family in the future, you can choose to take cover starting from Rs 50 lakh.

Policy term: Your insurance plan should ideally cover you till your retirement which can be till the age of 65-70 years in the current times. The plan also has an option to cover you for your whole life i.e. till the age of 99 years. By taking a cover for whole life, your plan will help you leave behind a legacy for your family.

Payout option: The claim that your nominee receives, in case of an unfortunate event is called the payout for an insurance plan. ICICI Pru iProtect Smart gives you the flexibility to choose how your nominee receive this payout. There are major 4 options to choose from:

·         Lumpsum: The nominee receives the claim in one go. This is the most preferred option by the customers.

·         Income: With this option, 10% of the claim amount is payable every year for 10 years as equal monthly installments in advance at the rate of 0.83333% of Death Benefit amount. This means, for a Life Cover of ₹ 1 crore, the monthly income paid will be ₹ 83,333 for 10 years to your nominee. You can choose this option if you want a steady monthly income for your family, in your absence.

·         Lump Sum plus Income: With this option, the claim amount will be paid in the combination of lumpsum and monthly income. For example, if your life cover is ₹ 1 crore, you can choose to give ₹ 50 lakh as lumpsum and remaining Rs 50 Lakh will be paid out in equal monthly installments of ₹ 41,667 per month.

·         Increasing Income: In this option your nominee will receive the claim amount as monthly installments for 10 years and these monthly installments will increase by 10% simple interest every year. For example if your Life Cover is ₹ 1 crore, then your nominee will receive ₹ 10 lakh in the first year, ₹ 11 lakh in the second year, ₹ 12 lakh in the third year and so on. At the end of the 10th year, total life cover received will be ₹ 1.45 crore. Hence, this payout option gives 45% more life cover.

Premium payment term: You can also customize how long you want to pay your premiums. The traditional way is to pay premiums till your cover lasts. But you can save big by paying premiums for a limited term. With ICICI Pru iProtect Smart, following premium payment term options are available:

·         Complete policy term

·         5 years less than your policy term

·         Till you reach the age of 60

·         For 10 years only

·         For 7 years only

·         For 5 years only

·         Once

Premium payment frequency: You can also choose if you want to pay your premiums every month, every half year or every year.

Additional benefits: You can further enhance your insurance plan by opting for Critical Illness cover and Accidental Death benefit cover.

·         It is convenient and secure to buy a policy online from our website

·         It is also easy to manage your term insurance policy online

·         You can customize your plan to fit to your needs

Your life cover should depend on your current annual income and any existing or future loans/liabilities you may have. We recommend you to take a life cover which is at least 10-15 times of your current annual income.

The premium of your plan depends on your age, chosen life cover and the tenure of your plan. Your term plan should cover you till your retirement which can be considered till the age of 65-70 years. If you have a shorter life cover which ends in your 40s or 50s, it can be difficult and costly to get a new life cover at that age.

In case you wish to get covered for a longer duration, ICICI Pru iProtect Smart term plan gives you an option to get covered till the age of 99 years as well with the Whole Life option. 

We understand filing a claim may be a difficult time for your loved ones. We assure you we will be there with them throughout the process. Our priority is to make claim experience as fast, easy, and convenient as possible for your family. For this reason alone, we promise you:

·         Guaranteed 1 day death claim settlement^#

·         Payment of interest on claim amount for every day of delay beyond 1 working day^#

You can report your claims^~:

·         Online at iciciprulife.com

·         Or email us at claimsupport@iciciprulife.com

·         or SMS “ICLAIM <space> Policy No” to 56767

·         or Call at our 24x7 ClaimCare number 1860 266 7766

·         or Visit your nearest branch

Please refer to www.iciciprulife.com/insurance-claim.html for more details. 

You can check status of your application on following link https://buy.iciciprulife.com/buy/apptrackerhomeNew.htm?execution=e1s1#/