ICICI Prudential iProtect Smart Life

Plan benefits

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  ₹0 Cost Term Plan: Get Your Money Back

  

  What is ₹0 Cost Term Plan?

  With ₹0 Term Insurance, you have a Special Exit Benefit, which refunds all your entire premium, which you will pay. Once you reach the age 60 and no longer have financial responsibilities, where policy term should be > 35 years, you can opt to exit the plan,but it is not available in the last 5 years.

  If you do, you will get back all the premiums you have paid, except for the GST. If you have opted for any add-ons, those premiums will also be refunded to you. This benefit comes at no extra cost.

  With ₹0 Term Insurance, you have a Special Exit Benefit, which refunds all your entire premium, which you will pay. Once you reach the age 60 and no longer have financial responsibilities, where policy term should be > 35 years, you can opt to exit the plan,but it is not available in the last 5 years.

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  Death benefit

  

  Death benefit

  Upon death of the life assured during the policy term and provided all due premiums have been paid, the nominee will receive the total sum assured

  Lumpsum benefit that your nominee shall get in event of death or terminal illness

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  Lifestage benefit

  

  Lifestage benefit

  On payment of additional premium, Life Stage Protection gives you the option to increase the basic sum assured without medicals on the occurrence of the below specified events -

  - 1st marriage : 50% of sum assured subject to a maximum of Rs. 50 lakh

  - Birth of 1st child : 25% of sum assured subject to a maximum of Rs. 25 lakh

  - Birth of 2nd child : 25% of sum assured subject to a maximum of Rs. 25 lakh

  You get an option to increase the life cover on important life events like marriage and child birth

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  100% payout on Terminal Illness

  

  100% payout on Terminal Illness

  Upon diagnosis of any terminal illness, an amount equal to Total Sum Assured will be paid immediately as a lump-sum. The policy will terminate and the Life Assured will not be required to pay future policy premiums once the claim under this clause is accepted by the insurer.

  Upon diagnosis of a terminal illness, the death benefit will be paid immediately as a lump-sum. You need not pay future premiums once the claim is accepted

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  Tax benefits

  

  Tax benefits

  Term Insurance policies offer tax benefit on

  a) premium paid (Sec 80C) and

  b) benefits received (Sec 10(10D)) under the Income Tax Act

  You get dual tax-saving benefit a) on the premium paid (Sec 80C) and b) benefits received under Sec 10 (10D)

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  Waiver of premium on accidental disability

  

  Waiver of premium on accidental disability

  The life assured shall not be required to pay future premiums on the policy in the event of total permanent disability as a result of an accident but the policy will still continue.

  You need not pay any future premiums in case of total disability due to an accident, while your policy still continues

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  Upto 15% off for salaried customers for 1st year

  

  Extra benefit for salaried users

  All salaried users opting for Sum Assured >=1.5 Cr are eligible for 10% discount on premium for 1st year of the policy tenure if they opt for regular pay and 15% discount on premium for 1st year of the policy tenure if they opt for limited pay.

  Upto 15% off for salaried customers for 1st year

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  Flat 15% lifetime discount for female cusotmers

  

  15% discount for female customers

  All female users will be eligible to pay 15% less premium for lifetime

  15% discount on premiums for female customers