ICICI Prudential iProtect Smart Term Insurance

ICICI Pru iProtect Smart is a term life insurance plan that financially protects you and your family in difficult times. The plan comes with four plan options namely Life, Life Plus, Life and Health, and All-in-one. The plan options differ in terms of benefits and other features offered under them. The ICICI Pru iProtect Smart Plan comes with two riders namely accidental death benefit and critical illness benefit. Under critical illness benefit, it provides health cover against 34 critical illnesses, the claim for which is paid on the first diagnosis itself, for which no hospital bills will be required. Under the accidental death benefit, it offers you cover for up to Rs. 2 crores. In-built benefits of the plan include death or terminal illness benefit (for AIDS as well) and waiver of premium on disability benefit.

The plan comes with four payout options which you can choose as per your own requirement. These include lump-sum payments, monthly income, increasing income, and lump sum plus income. The premium for this plan can be paid in single, half-yearly, yearly, and monthly payment. The minimum sum assured under the plan is subject to minimum premium and the maximum sum assured is unlimited, which is subject to board approved underwriting policy. The plan is suitable for parents, newly married couples, working women, young professionals, taxpayers, self-employed people, retirees, and SIP investors.