iProtect Smart

ICICI Prudential Life Insurance

Claim settlement ratio – 97.9% (FY 2022-23)

Critical Illness Benefit Available

Tax Benefit Amount As per prevailing tax laws

Accidental Death Benefit 100%

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Overview of iProtect Smart by ICICI Pru

One of the most popular term plans by ICICI Pru iProtect Smart offers the exclusive benefit of critical illness coverage. The plan is easily affordable and also provides you with longer insurance coverage, up to the age of 99 years. The critical illness cover under the plan provides a claim payout for at least 34 critical illnesses. This rider is optional and can be purchased separately if required.

USP Features of ICICI Pru iProtect Smart

  • The plan offers 4 protection options to the insured - Life, Life and Health, Life Plus, and All in One. You can choose the one that best suits your needs.
  • Special discounts on premiums for females
  • Pure online term plan that makes it super convenient to buy and access
  • The comprehensive plan covering terminal illness, death benefits, and disability payout
  • Income tax benefits offered under sections 80C, 80D, and 10(10D)
  • Payouts are offered as monthly income, increasing income, or in a lump sum

What’s Not Covered Under ICICI Pru iProtect Smart?

  • Injury in the war due to declared or undeclared participation, violation of law due to criminal activity, injury owing to civil commotion
  • Radioactive contamination in a nuclear accident
  • Sexually Transmitted Diseases (STDs), HIV/AIDS
  • Voluntary exposure to danger during adventure sports like scuba diving or aerial sports
  • Self-inflicted injury of any kind, suicide, voluntary participation in an illegal or criminal act
  • Abuse of drugs or alcohol

Frequently asked questions

It is a term life insurance policy offering financial coverage for you and your loved ones with the add-on benefit of coverage for 34 terminal illnesses.

A total of Rs. 80,000 is offered every month as a payout under the plan. You can also choose a lump sum payment option.

Over 80% of CSR is considered to be good and the company is regarded as credible in the insurance market.

If a company has a CSR of over 100%, it is an indication that it is paying more toward the settlement of claims than the premium that it is receiving from its customers. This may be an impending indication of financial loss for the company.

Some of the benefits offered under the plan to the insured are:

  • Coverage against critical illness
  • Death benefit
  • Waiver of all premiums payable in the future due to permanent disability during an accident
  • Tax benefits under ITA 1961
  • Surrender benefits available only under the Single Premium plan
  • Coverage provided for long term (99 years)
  • Option to increase the sum assured to cover specific expenses such as the child’s education or marriage

* Tax benefits are subject to changes in tax laws.
#All savings are provided by the insurance company as per the IRDAI approved insurance plan. Standard T&C apply.

Other Plan Variants