ICICI Prudential iProtect Smart Plan, Policy, Premium and Maturity Calculator
ICICI Prudential iProtect Smart Plan, Policy, Premium and Maturity Calculator - ICICI Pru iProtect Smart Plan is a term insurance policy which provides you with different options to enhance the protection for yourself and your family through affordable premium payments. The plan offers comprehensive protection through flexible options that can help ensure financial security for your family when you are not around anymore. The plan also offers the option to enhance coverage to include accidental death and critical illness benefits.
ICICI Pru iProtect Smart Plan is Available in 3 Options
- Life Option: This plan offers (a) death benefits, (b) terminal illness cover and (c) premium waiver on permanent disability.
- Life Plus Option: This plan offers (a) death benefits, (b) terminal illness cover, (c) premium waiver on permanent disability and (d) accidental death benefit.
- Life & Health Option: This plan offer (a) death benefits, (b) terminal illness cover, (c) premium waiver on permanent disability and (d) critical illness benefit.
- All in One Option: This plan offers you (a) death benefits, (b) terminal illness cover, (c) premium waiver on permanent disability, (d) accidental death benefit and (e) critical illness benefit.
Eligibility Criteria - ICICI Prudential iProtect Smart Term Insurance Plan and Policy
- Minimum age of entry: 18 years
- Maximum age of entry: 65 years
- Minimum maturity age: 23 years
- Maximum maturity age: 75 years
- Minimum premium amount: Rs.2,400 p.a. (excluding service tax and cess)
Features - ICICI Prudential iProtect Smart Term Insurance Plan and Policy
This ICICI Prudential term plan is packed with features including:
- Policy term: You can choose a policy term between 5-40 years subject to type of plan chosen and also the premium payment option selected.
- Premium payment options: Single Pay, Regular Pay, Limited Pay.
- Premium payment term: Once for Single Pay option; equal to Policy Term for Regular Pay option; and Policy Term minus 5 years for Limited Pay option.
- Premium payment frequencies: Single, yearly, half-yearly and monthly.
- Sum Assured: Minimum subject to minimum premium being paid, no maximum limit.
Benefits - ICICI Prudential iProtect Smart Term Insurance Plan and Policy
There are several benefits associated with this plan:
Death benefits: This is paid out in 3 options: (a) entire amount is paid as lump sum; (b) 10% of Sum Assured will be paid annually for 10 years in equated monthly instalments; and (c) benefits will be paid out in monthly instalments at an increasing income basis wherein 10% simple interest will be applicable on payouts from 2nd year onwards.
Terminal Illness benefit: 100% Sum Assured paid out in case of terminal illness during policy tenure.
Critical Illness benefit: Minimum Sum Assured of Rs.1 lakh, maximum as per company policy. A total of 34 critical illnesses are covered.
Accidental Death benefit: You will receive double the Sum Assured as chosen.
Premium waiver benefit: In case of permanent disability from an accident, your premium payments will be waived off for the remaining policy tenure.
Tax benefits: Tax benefits are available as per relevant sections of the Income Tax Act, 1961.
Surrender benefits: Surrender benefits available on Single Pay option only. Surrender value is calculated as (Single Premium*Surrender Value Factor/100).