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ICICI Pru Iprotect Smart Plan

 4.0 / 5.0   by 816 users
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Plan Benefits

Payment Options

Policy Coverage

Customer Service

Responsiveness

 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 for ICICI Pru iProtect Smart Plan

  • 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 of ICICI Pru iProtect Smart Plan

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 of ICICI Pru iProtect Smart Plan

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)

Example

Suppose Mr Singh is 32 years old and has taken a 30 year tenure iProtect Smart policy . He has a base cover of Rs.1 crore along with Critical Illness benefit of Rs.25 lakhs. He gets diagnosed with a Critical Illness in the 8th Policy year. Consequently, he will receive Rs.25 lakhs as lump sum and the policy will continue on a reduced Sum Assured benefit of Rs.75 lakhs. His premium are also reduced from around Rs.15,000 originally to Rs.7,000 now. In case Mr Singh unfortunately expires in the 20th policy year, his nominees will receive a lump sum of Rs.75 lakhs and the policy will terminate. The payout may also be made on a monthly increasing basis as decided between the parties.

FAQs

  1. Are there maturity benefits associated with this plan?

    No, maturity benefits are not available here.

  2. Till when can I revive my policy?

    You may revive the policy by paying unpaid premiums plus interest within 2 years of last premium payment.

  3. Is there any grace period for making premium payment?

    A. Yes, you will be given a grace period of 15 days for monthly premium payment mode and 30 days for all other modes of premium payment.

  4. How will my nominees get paid for death benefit monthly payout option?

    Death benefit which is paid out as monthly payments will only be paid electronically.

GST of 18% is applicable on life insurance effective from the 1st of July, 2017

ICICI Pru Iprotect Smart Plan Reviews

Page 1 of 41 1 2 3 4 5
  • ICICI Prudential Life Insurance
    "Average Policy"
    0.5 3.0/5 "Satisfactory"
    My life insurance was bought from ICICI prudentuial. One of my friend who is working over there has recommended me about this policy. I paid the premium amount of Rs. 25000 annually. I have paid the premium for 2 years after that i have discontinued the policy due to the personal reasons. I have to pay the premium for 7 years actually.
    Was this review helpful? 1
    , tiruchirapalli
    Reviewed on Jan 09, 2019
  • ICICI Prudential Life Insurance
    "Good for nominees"
    0.5 3.5/5 "Pretty good"
    I have one more term plan with ICICI prudential , I took the life insurance for the tenure of 7 years, monthly I need to Rs. 1565, policy coverage is around Rs. 20 lakhs, they give critical cover, premium terminal on disability. The agent gave me the clear information
    Was this review helpful? 0
    , chennai
    Reviewed on Jan 08, 2019
  • ICICI Prudential Life Insurance
    "Its Good"
    0.5 5.0/5 "Blown Away!"
    I have life insurance with ICICI Prudential, half yearly I make the payment of Rs. 10,000 for the tenure of 12 years. The maturity benefits are good and with the tax benefits. The customer care is good they send the bond on time. I don't have any issues.
    Was this review helpful? 1
    , chennai
    Reviewed on Jan 08, 2019
  • ICICI Prudential Life Insurance
    "Good Policy"
    0.5 4.0/5 "Great!"
    I had taken this insurance policy a while back and i had been paying the premium on a monthly basis. The premium has been paying online and the payment method has been easy and the premium amount has not been too high. The services with them has been quite good so far and it has been a good policy.
    Was this review helpful? 0
    , bangalore
    Reviewed on Jan 08, 2019
  • ICICI Prudential Life Insurance
    "Cheated people"
    0.5 1.0/5 "Really Bad"
    My life insurance policy was taken from ICICI Prudential and i have purchased this policy for my child's benefits. I have invested the amount of Rs. 1 lakh and i have to pay the premium for 5 years. I have not received any kind of renewal notifications hence i have not paid anything after the first premium since they don't provide the policy documents. When i called the customer care for my issue, they have asked me to contact the branch and when i visited their branch and they said since because of the no renewal payment hence policy got expired.
    Was this review helpful? 0
    , thane
    Reviewed on Jan 04, 2019
  • ICICI Prudential Life Insurance
    "Useless policy"
    0.5 1.0/5 "Really Bad"
    I had taken the health insurance with ICICI Lombard. I had a plan name of G type. I have taken the child insurance policy. As per the premium amount given them but i have not received any kind of documents. In 2009 i purchased a policy with them. I visited their branch regarding the documents issue but there is no resolution.
    Was this review helpful? 0
    , thane
    Reviewed on Jan 04, 2019
  • ICICI Prudential Life Insurance
    "wealth builder"
    0.5 3.5/5 "Pretty good"
    I have taken wealth builder insurance plan in 2015. I don't feel this is a great plan except for the insurance coverage. after 3 years my son has not increased much. also feel my son is blocked for a period of 5 years. except for the insurance coverage there is not much benefit from this.
    Was this review helpful? 1
    , hyderabad
    Reviewed on Jan 04, 2019
  • ICICI Prudential Life Insurance
    "One must have some term plan"
    0.5 5.0/5 "Blown Away!"
    Their application process was so fantastic. The documentation was fine and i have done everything through online. Since because of the brand value, i have selected the ICICI prudential for my term insurance. The claim ratio is very high which is98.3%. I have selected the premium is a accelerated one. First I have to pay the premium upto 10 years and it will cover next 34 years. I have selected the coverage value of Rs. 1 Cr upto 65 years. I pay the premium amount of Rs. 2311.
    Was this review helpful? 1
    , mumbai
    Reviewed on Dec 29, 2018
  • ICICI Prudential Life Insurance
    "Very Good Service"
    0.5 4.0/5 "Great!"
    I had taken this insurance policy a while back and i had been paying the premium every month. The premium amount has not been too high and the payment method has been easy as well. Their customer support has also been responsive and has been helpful as well.
    Was this review helpful? 2
    , kolkata
    Reviewed on Dec 20, 2018
  • ICICI Prudential Life Insurance
    "More than satisfactory"
    0.5 5.0/5 "Blown Away!"
    I have taken a life insurance from ICICI Prudential. It is a cash back policy and the policy coverage and the plan benefits are fine and satisfactory. The payment options are also fine as I can pay my premium with ease online. The customer support is supportive.
    Was this review helpful? 0
    , new delhi
    Reviewed on Dec 11, 2018
  • ICICI Prudential Life Insurance
    "Good policy for life"
    0.5 5.0/5 "Blown Away!"
    Through mobile I came to know about the ICICI prudential life insurance, for the coverage of Rs. 1 lakh, I paid the premium of Rs.20 it has accidental cover and critical illness cover but there is no medical cover. The Policy documentation process is easy.
    Was this review helpful? 0
    , visakhapatnam
    Reviewed on Dec 10, 2018
  • ICICI Prudential Life Insurance
    "Good Policy"
    0.5 4.0/5 "Great!"
    I have taken a term plan with ICICI preudential from last 2 years, i pay a premium of Rs 525 every month for this insurance policy and i am convenient with the payment options. Customer service was good and they explained every detail of this policy.
    Was this review helpful? 1
    , ahmedabad
    Reviewed on Dec 10, 2018
  • ICICI Prudential Life Insurance
    "Excellent"
    0.5 5.0/5 "Blown Away!"
    I have taken a term insurance with ICICI Prudential and I need to pay a premium till the age of 60 and it has a coverage till the age of 65 to 66. The policy coverage is for 50 lakhs and if anything external happens to the policy holder another 50 lakhs is provided to the family. The premium is economical, it is of 897 which goes through on a ECS basis.
    Was this review helpful? 0
    , new delhi
    Reviewed on Dec 05, 2018
  • ICICI Prudential Life Insurance
    "GOOD SERVICE"
    0.5 5.0/5 "Blown Away!"
    My experience with the life insurance policy from the ICICI PRUDENTIAL and it is a annual term plan policy. The maturity period of this policy is for 10 years where i am paying my premium of r yearly once for this policy. The process of getting the policy is good.
    Was this review helpful? 1
    , jaipur
    Reviewed on Nov 27, 2018
  • ICICI Prudential Life Insurance
    "Good service"
    0.5 4.0/5 "Great!"
    I have been holding my life insurance with ICICI prudential , i have been taken two policy through icici , the premium they have charged me was nominal, and premium amount for one policy they are charging up to yearly basis, and for another policy on half yearly basis, overall service is good.
    Was this review helpful? 0
    , pune
    Reviewed on Nov 25, 2018
  • ICICI Prudential Life Insurance
    "GOOD SERVICE"
    0.5 5.0/5 "Blown Away!"
    I have applied for the life insurance which is TERM PLAN with the ICICI PRUDENTIAL. The process of getting and also applying the life insurance is simple process with this ICICI. The service is very good also i am satisfactory with this loan.
    Was this review helpful? 1
    , new delhi
    Reviewed on Nov 24, 2018
  • ICICI Prudential Life Insurance
    "Excellent service"
    0.5 5.0/5 "Blown Away!"
    I have a Term insurance policy from the ICICI Prudential . The premium gets auto debited from the account. I Don't have to worry about the due date because ECS makes life so much easier. Their services also needs improvements. They need to raise their standards and provide quality support all the customers.
    Was this review helpful? 0
    , hyderabad
    Reviewed on Nov 21, 2018
  • ICICI Prudential Life Insurance
    "Bad service"
    0.5 2.0/5 "Expected more"
    I have been holding my health insurance with ICICI BANK , there service is not up to the mark, they dont keep there words they said that my policy coverage was up to 10,00,000 but i check it it was just for 3,00,000 only and even what is benefit in this health insurance they have not explained me and i do not have idea how much hospital they have tie up.
    Was this review helpful? 0
    , faridabad
    Reviewed on Nov 16, 2018
  • ICICI Prudential Life Insurance
    "Good for Investment"
    0.5 5.0/5 "Blown Away!"
    I generally pay Rs.30,000 per annual year for the life insurance. The plan which I taken with ICICI Prudential is called money back. Every yearly I get the bonus amount from the coverage value. After completion of tenure period I get the entire benefits.
    Was this review helpful? 1
    , bhubaneshwar
    Reviewed on Nov 02, 2018
  • ICICI Prudential Life Insurance
    "Good For investment Purpose"
    0.5 5.0/5 "Blown Away!"
    I invested on Well builder plan its ULIP cum life insurance with ICICI prudential. Really the plan is amazing, as of now I just keep paying the premium then I get the return after five years based on the market price. Now the growth is fine, the bank invested 65% of amount in equity and remaining on govt security, total term of the policy for 10 years then I get the policy cover around Rs. 20 lakhs.
    Was this review helpful? 1
    , delhi
    Reviewed on Nov 01, 2018
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