ICICI Prudential iProtect

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Policy Discontinued
 

ICICI Prudential iProtect Term plan

 

ICICI Prudential iProtect is a pure term insurance policy which offers high coverage at low and affordable premiums. In such policies, if the policy holder dies then the nominee is given the sum assured. However, if the policy holder survives the policy term then he/she does not get any money back. ICICI Prudential iProtect is a term insurance plan which can be purchased on the internet and hence the product is cheaper than most of the term insurance plans in the market.

  

 

Key Features of ICICI Prudential iProtect Term plan

 

§         One of the cheapest term plans in the market

§         Plan has an option of sum assured with an additional death benefit equal to the base sum assured or Rs.50,00,000, which is lower

§         The plan has a paperless process for non-medical cases

§         It can be purchased online with great convenience

 

 

Benefits you get from ICICI Prudential iProtect Term plan

 

Death Benefit – In case of death of the policy holder, the nominee gets the sum assured under the plan option I. If the policy holder avails plan option II, then the nominee gets sum assured + accidental death benefit.

 

Maturity Benefit – There are no maturity benefits under this plan.

 

Income Tax Benefit

Life Insurance premiums paid up to Rs. 1,00,000 are allowed as a deduction from the taxable income each year under section 80C

 

 

Eligibility conditions and other restrictions in ICICI Prudential iProtect Term plan

 

 

Minimum

Maximum

Sum Assured (in Rs.)

Rs.10,00,000

Rs.10,00,00,000

Policy Term (in years)

5

30

Premium Payment Term (in years)

Equal to policy term

Equal to policy term

Lock-in period

5 years

Entry Age of Policyholder

20

65

Age at Maturity

-

75

Regular premium

Rs.2,000

-

Single premium

NA

NA

Payment modes

Yearly, Half-Yearly, Quarterly and Monthly (ECS)

 

 

Sample illustration of premium amount in ICICI Prudential iProtect Term plan

 

The below illustration is for a healthy Male (non-tobacco user) opting for a Sum Assured = Rs.50,00,000 and Policy Term = 25 years


 

 

Additional Features and Benefits of ICICI Prudential iProtect Term plan

 

Riders – Some additional benefits can be taken in the form of riders by paying extra premium

 

Type of Rider

Available with Policy

Accidental death benefit

Yes

Permanent disability benefit

No

Waiver of premium benefit

No

Critical illness (or dread diseases) benefit

No

Increased death benefit / Term rider

No

Hospital cash benefit

No

 

 

What happens if?

 

You stop paying the premium - If the policy holder stops paying the premium, then all benefits of the policy will cease after the expiry of the grace period from the due date of the first unpaid premium. In case of death of the Life Assured during the period while the policy is in lapsed condition, no benefit shall be payable.

 

You want to surrender the policy – There are no surrender benefits under this term plan.

 

You want a loan against your policy – Loan facility is not available under this policy.

 

 

Alternate term plans from different insurance companies

 

Aviva iLife Term Plan

IndiaFirst Anytime Plan

Aegon Religare i-Term plan

HDFC Life Click2Protect

Kotak eTerm Plan

Future Generali Smart Life

Met Protect from MetLife

 

 

Other term insurance plans from ICICI Prudential Life Insurance

 

ICICI Prudential Pure Protect

ICICI Prudential LifeGuard

~ By Deepak Yohannan
Note: This is a statement of facts based on the information collected from the ICICI Prudential iProtect brochure and insurance company's website. It should not be construed as a Critical or Favourable ICICI Prudential iProtect Review, Analysis or Recommendation.
Insurance is a subject matter of the solicitation.


Leave a Comment

hi this is good policy

By adee on Feb 23, 2012 Reply

i am 44yrs old please suggest best health insurences which cover all the complications of diabetics health policy -ONLINE -with low premiums.compare 4-5 companies policies

By ar on Sep 13, 2011 Reply

I want to bye this policy, could you please provide details about claim process

By mukhe singh on Aug 31, 2011 Reply

i want to buy this term plan pl tell me how to approach

By sanjeev on Aug 25, 2011 Reply

i want to know and buy icici ipruprotect...
male, age-34, income-4,20,000/-
any authorised center or agent...?
please reply...

solapur {maharashtra}

By d.vaibhav on Aug 24, 2011 Reply

Dear Sir/Madam,

I am Darshit, Age 30, would like to know the good insurance TERM plans. And which has successful fast claim settlement ratio ? Kindly suggest with premium about along with Term.
( I shall go with 30 years term). The premium about shall remain the same for all upcoming years ? Kindly comment. Thank you. Regards, Darshit.

By Darshit on Aug 07, 2011 Reply

I want to buy icici iprotect term plan but i also wanted to compare premiums with other insurance companies. Thanks to your site i was able to do so because as far as i know icici pru has a good claims settlement ratio which is important before buying insurance policy

By Shyam Sonar on Aug 03, 2011 Reply

It is good to know your website gives all this insurance advice for free. One insurance agent told me to buy this plan, but after reading your review i think i will buy the other plan of ICICI

By Lalji on Aug 01, 2011 Reply

Sir I hv RCM business. I want to do a Bajaz Allianz policy under RCM. My date of birth is 30/09/86. So tell me the minium premium of monthly,qtly,hfyrly and yrly which i wil pay.

By Sri Lalit Rajgarh on Jul 31, 2011 Reply

Term Insurance Policy according to me is the most important way of securing one's family. My masi lost her husband in a car accident and was left without a single penny. Later on she found policy documents of LIC Term Plan that her husband had taken years back and got 20 lakh rupees. I would ask everyone to buy Term Plan

By Shirke on Jul 29, 2011 Reply

SIR,IAM A SUGAR PATIENT AND I HAVE HIGH BP ALSO.I WANT TO KNOW WHICH HEALTH INSURANCE POLICY SUITS ME INCLUDING MY SUGAR AND BP.

By chandrasekar on Jul 20, 2011 Reply

what are elligibility required to take a risk cover of 75 lakhs for 36 male non smoker in surat ?

By sanjay savani on Jul 04, 2011 Reply

I think it is a good idea to buy Jeevan Arogya Lic plan for my family as we have 10 members and live in joint fmly. Nice policy.

By Mr. R Lakhaniya on Jul 04, 2011 Reply

If I take LIC Anmol Jeewan Policy of Rs.1000000/- for a period of 30 years the present yearly premium as per chart is Rs.3821/-. Whether the premium throughout the policy period will be same Rs.3821/ yearly or it may be amended/increased by LIC from time to time in future. My age is 30 years as on date.

Amit

By amit on Jul 03, 2011 Reply

Is this the best policy in the market? Please email me a complete list of the top 5 plans available

By Alok Bansal on Jul 01, 2011 Reply

If I want to include my wife and three children in the policy, please advise,

By KRISHNA PERUMAL on Jul 01, 2011 Reply

nice policy
but some querry

By rajesh on Jun 23, 2011 Reply

this a good policy

By satish on Jun 16, 2011 Reply

Can you please send your Advisor to explain in details personally.

By PANKAJ SHAH on Jun 15, 2011 Reply

What is the additional premium to be paid to avail accidental death benefit under iprotect plan2 for a working lady DOB 8-7-80 with income above 5 lakh per year for a term of 30 years for a term insurance of 50 lakhs

By G K Mohanrao on Jun 11, 2011 Reply

sir,i wish 2 take maha life gold plan.paying rs.50000 per annum.can u sent details about that..

By R.Ramamoorthy on May 04, 2011 Reply

I am a United India Insurance Policy Holder for the last two years and my policy is due for this month .Please guide me can i continue with you or change

Thanks

By Thomas Mathew on May 02, 2011 Reply

Dear Sir/Madam, I have done a policy Bima Account 1 plan no.805 as Rs.3000/- quterly for seven years. Sir I wanna know how much money I will get back in maturity. Kindly give me the lumpsum amount of maturity in my e-mail.

By Jahed Ahmed on Mar 14, 2011 Reply

Very affordable premiums. This is the best thing that could have happened to term insurance plans. You have to make it cheap for people to buy these plans. Very good offer.

By Sampat Mahapatra on Feb 28, 2011 Reply

Yes, I agree this is a great term insurance plan which is very cheap and now lets us buy a large life cover at a low cost. Good policy

By Kavya Dutta on Jan 31, 2011 Reply

IProtect is the cheapest term insurance plan. Also it has riders so it makes it better than the rest

By Shyam Sunder on Jan 17, 2011 Reply

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