ICICI Pru iProtect Smart Term Insurance Plan

ICICI Pru iProtect Smart is a comprehensive and flexible term insurance plan that financially secures your loved ones in your absence. You can design your own plan by choosing from a range of benefits it offers. The plan also provides options to get covered against 34 critical illnesses# and increase your cover against accidental death+.

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Reasons to choose our Term Plan

Guaranteed 1-day claim settlement Guaranteed 1-day claim settlement: Quick and easy claims service assured for your loved ones. In case of any delay after one working day, interest paid on entire claim amount5.
Tax Savings Tax Savings: You can save tax up to Rs 54,600 under Sections 80C and 80D. The claim amount received is also tax-free under Section 10(10D)1.
Critical Illness Benefit Critical Illness Benefit: In addition to your life cover, you can get covered against 34 critical illnesses such as cancer, heart attack, etc. Get lump sum payout on the first diagnosis itself#. This option serves as an additional health cover and helps you meet the high cost of medical care during such times.
Accidental Death Benefit Accidental Death Benefit: You can increase your family’s security by adding accidental death cover up to Rs 2 crore. In case of death due to an accident, your family will receive this additional cover along with life cover+.
Premium Guarantee Premium Guarantee: Your premium for term insurance will remain the same for the entire policy term and your premium for critical illness cover will be the same over the next 30 years.
Longer life cover Longer life cover: You can get a longer life cover till the age of 99 years.
Terminal Illness Benefit Terminal Illness Benefit: The entire cover amount will be paid out to you on the diagnosis of terminal illness (including AIDS)~~.
Award-winning product Award-winning product: Our term plan has been awarded “Product of the Year” in Life Insurance category by Nielson for FY 20196. ICICI Prudential Life Insurance has also been adjudged "Customer Service Company of the Year” by India Insurance Summit & Awards 2020’.
Flexible payout options Flexible payout options: You can decide how your nominee will get the claim amount in your absence.
Lump Sum Nominee will receive the complete claim amount in one go.
Income Nominee will receive a regular monthly income for 10 years. 10% of the benefit amount is payable every year in advance, with monthly instalment at the rate 0.8333% of the total benefit amount. Your nominee can also choose to receive the first year’s income, equal to Rs 10 lakh, as lump sum. After this, the monthly instalments will continue from the subsequent month for 9 years at the rate of 0.80% of the total benefit amount.
Increasing Income Nominee will receive an increasing regular income. Monthly instalments will be received for 10 years. The income amount will increase by 10% per annum simple interest every year. The total amount received by the nominee will be 1.45 times of the life cover chosen.
Lump sum Plus Income Nominee will receive claim amount in 2 parts as decided by you while buying the policy. You can choose to give part as lump sum and the remaining will be paid out in equal monthly installments at the rate of 0.833% per month over 10 years.

To know more about the product, please refer to the product brochure

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Terms and Conditions apply.

#The critical illness benefit is an accelerated benefit and the death benefit will be reduced by the critical illness cover paid to the policyholder. To know more about the illnesses covered, please refer to the sales brochure. This is only available in Life & Health and All in One options.

+Accidental Death benefit is up to Rs 2 crore. It is optional and available in Life Plus and All in One options. Accidental Death Benefit term will be equal to the policy term or (80-Age at entry), whichever is lower.

5Day 1 is counted from the day of receiving the last document. One-day claim settlement applicable only if all due premiums in the policy have been paid and the policy has been active for a continuous period of 3 years, total claim amount should not exceed Rs 1.5 crore and claim does not require any investigation. Mandatory documents need to be submitted at Branch Office before 03:00 p.m. on a working day. Original policy certificate, copy of Death Certificate by local authority, nominee’s current address proof, photo identity proof, cancelled cheque, copy of bank passbook, copy of medico legal cause of death, medical records (admission notes, Discharge/Death summary, test reports, etc.) For accidental death – Copy of FIR, Panchanama, Inquest report, Driving license. Interest will be paid for every day of delay beyond one working day. Interest shall be at the bank rate that is prevalent at the beginning of the financial year in which death claim has been received. In case of breach in regulatory turnaround time, interest will be paid as per IRDAI regulations.

6ICICI Pru iProtect Smart has won “Product of the Year 2019” award in Life insurance category in a survey of over 2,800 people by Nielson across categories.

ICICI Pru iProtect Smart has been adjudged "Customer Service Company of the Year” by India Insurance Summit & Awards 2020. Terms and Conditions apply.

~~ Death Benefit is payable on diagnosis of Terminal Illness. To know more about definitions, terms & conditions applicable for terminal illness, kindly refer to sales brochure of ICICI Pru iProtect Smart.

1Tax benefits of Rs 54,600 (Rs 46,800 u/s 80C & Rs 7,800 u/s 80D) is calculated at highest tax slab rate of 31.20% (including cess excluding surcharge as per old tax regime) on life insurance premium u/s 80C of Rs 1,50,000 and health premium u/s 80D of Rs 25,000. Tax benefits subject to conditions under Sections 80C, 80D,10(10D), 115BAC and other provisions of the Income Tax Act,1961. Goods and Services Tax (GST) and cesses, if any will be charged extra as per prevailing rates. Tax laws are subject to amendments made thereto from time to time. Please consult your tax advisor for details, before acting on above.

ICICI Prudential Life Insurance Company Limited. IRDAI Regn No. 105. CIN: L66010MH2000PLC127837

© 2016, ICICI Prudential Life Insurance Company Limited. Registered Address:- ICICI PruLife Towers, 1089, Appasaheb Marathe Marg, Prabhadevi, Mumbai-400025. Insurance is the subject matter of the solicitation. For more details on the risk factors, terms and conditions, please read the sales brochure carefully before concluding a sale. Call us on 1-860-266-7766 (10am-7pm, Monday to Saturday, except national holidays and valid only for calls made from India) and on 91-22-6193-0777 (Valid for calls made from outside India) (10am-7pm (IST), Monday to Saturday, except national holidays). Tax benefits under the policy are subject to conditions u/s 80D of the Income Tax Act, 1961. Goods & Services Tax and Cesses, if any, will be charged extra as per prevailing rates. Tax laws are subject to amendments from time to time.ICICI Pru iProtect Smart,UIN-105N151V06. Advt. No.: W/II/1962/2020-21

ICICI Bank Limited ("ICICI Bank") with registered office at ICICI Bank Tower, Near Chakli Circle, Old Padra Road, Vadodara, 390 007, Gujarat (CIN: L65190GJ1994PLC021012) is a corporate agent (Composite, IRDAI Regn No. : CA0112 valid till 31/03/2025) of ICICI Prudential Life Insurance Company Limited ("ICICI Prulife"). Insurance is underwritten by ICICI Prulife. Purchase by ICICI Bank’s customer of any insurance products is purely voluntary, and is not linked to availment of any other facility from ICICI Bank.

The products, services and benefits referred to herein are subject to terms and conditions governing them as specified by ICICI Prulife from time to time. ICICI Bank shall not be liable or responsible for any loss resulting from insurance company's products/ services.

Time limit on the validity:
Subject to applicable laws, all the information given above is valid for the term of the policy purchased.


  • IRDAI is not involved in activities like selling insurance policies, announcing bonus or investment of premiums.
  • Public receiving such phone calls are requested to lodge a police complaint.

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