ICICI Pru iProtect Smart Term Plan - Life Insurance Review
Key Benefits of the Plan:
- Affordable premiums
- Cover till age of 85 and option to get whole life cover till age 99
- Optional health insurance cover for 34 Critical Illness
- Lumpsum + Regular Income payout option
- Life cover on Terminal Illness (including AIDS)
- Accidental Death Cover can be added even after purchase of policy
Terminal Illness Benefit:
If the life assured is diagnosed with a terminal illness, full or entire life cover will be paid to the nominee / legal heir immediately.
Waiver of premium Benefit:
In case of permanent disability due to an accident, all future premiums will be borne by the company and the life cover stays intact.
Accidental death benefit (optional):
If the death of the life assured happens due to an accident nominee / legal heir will be paid extra amount.
Critical Illness benefit (optional):
If the life assured is diagnosed with any one of the 34 critical illness covered, the life assured will be paid the critical illness benefit amount immediately at the first diagnosis stage without any hospital bills.
Four Flexible Payout options
- Lumpsum
- Monthly Income: 10% of the benefit amount is payable every year for 10 years.
- Increasing Income: The benefit amount is payable in monthly installments for 10 years starting with 10% of the benefit amount per annum in the first year. The income amount will increased by 10% per annum simple interest every year thereafter.
- Lumpsum plus income: Flexibility to split the life cover amount that your nominee wants to receive as lumpsum and the remaining life cover will be paid in equal monthly payments for 10 years.
Plan at a Glance
Minimum / Maximum age at entry 18/65 years
Premium Payment Options Regular Pay / Limited Pay
Policy Term:
Minimum : 5 Years
Maximum : Less 85 Years less age at entry
Whole Life : Less 99 Years less age at entry
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| ICICI Pru iProtect Smart Term Plan Benefit Option |
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