ICICI Pru iProtect Super Plan

Key Features of ICICI Pru iProtect Super Plan

• ICICI Life Insurance specially designed the plan with flexible eligibility criteria for self-employed individuals, addressing a largely underserved segment.

• Offers a Sum Assured of Rs. 1 Crore, ensuring comprehensive financial protection for policyholders and their families.

• Unique features like premium breaks and refunds of premiums paid provide unmatched flexibility at no extra cost.

• Eliminates the need for traditional income proofs with a streamlined digital verification process, making it easy to access.

• Enjoy a 15% lifetime discount for female customers, a 7% loyalty discount for existing customers, a 5% discount for online purchases, and 8% for select city locations.

Eligibility Criteria of ICICI Pru iProtect Super Plan

Benefits of ICICI Pru iProtect Super Plan

ICICI Pru iProtect Super Plan offers unique features and benefits, making it one of the most flexible and inclusive protection plans. Here are some of the benefits of term insurance offered by this plan:

• Death Benefit:
  If the Life Assured passes away or is diagnosed with a terminal illness (whichever is earlier), the Death Benefit will be paid to the claimant. The death benefit paid will be higher of the:

  • 105% of the total premiums paid up to the date of death or terminal illness diagnosis.

  • 7 times the annualized premium.

  • The Sum Assured chosen by the policyholder.

• Premium Breaks:
  Policyholders can defer premium payments for a year without losing coverage, allowing them to manage finances effectively during unforeseen circumstances.

• Smart Exit Benefit:
  Provides the option to surrender the policy during a pre-defined period and receive all premiums paid back (excluding taxes). This feature is available at no additional cost, ensuring peace of mind.

• Exclusive Discounts:
  Enjoy lifetime discounts for female customers, loyalty discounts for existing customers, and additional savings for online purchases and specific regions.

• Simplified Income Verification:
  Digital income verification eliminates traditional proof like ITRs, making the plan accessible to a larger self-employed demographic.

Rider Options

The ICICI Pru iProtect Super Plan allows policyholders to enhance their coverage with optional riders, offering a comprehensive protection package tailored to individual needs:

• Accidental Death Rider:
  Provides an additional payout in case of death due to an accident, ensuring extra financial security for your family.

• Accidental Disability Rider:
  Offers a lump sum benefit in case of permanent disability due to an accident, helping you manage medical costs and lifestyle adjustments.

Sample Premium Illustration of ICICI Pru iProtect Super Plan

A 35-year-old male, a non-smoker residing in a non-top city, bought the ICICI Pru iProtect Super Plan for 20 years. Let’s check the premium he/she needs to pay will be:  

** You can calculate the estimated premium using the term insurance premium calculator.

Documents Required to Buy ICICI Pru iProtect Super Plan

Purchasing the ICICI Pru iProtect Super Plan online is simple and hassle-free, requiring minimal documentation. Below are the mandatory documents needed:

• PAN Card: Serves as both ID and age proof.

• Age and Address Proof: Documents like Aadhaar, Passport, or Voter ID.

• Income Proof: Salary slips, bank statements, or ITRs (if applicable).

• Recent Photograph: A passport-sized photograph.

How to Buy ICICI Pru iProtect Super Plan Online?

Follow these easy steps to purchase the ICICI Pru iProtect Super Plan online:
Step 1: Visit the Term Insurance Page
Step 2: Enter your name, mobile number, gender, and email ID.
Step 3: Provide Additional Information such as your occupation type, annual income, educational background, and smoking habits.
Step 4: Select ICICI Pru iProtect Super from the available term insurance plans and proceed to payment.

** You can also check and compare other ICICI Prudential Term Insurance Plans and choose the best-suited for you.

Policy Details of ICICI Pru iProtect Super

• Grace Period:
  The plan offers a grace period of 15 days for monthly premium payments and 30 days for other frequencies.

• Surrender Benefit:
  Surrender is allowed after paying one full year’s premium. Surrender value is calculated for Limited Pay but not applicable for Regular Pay.

• Policy Revival:
  A lapsed policy can be revived within 5 years by paying arrears with interest and meeting underwriting requirements.

• Free Look Period:
  If unsatisfied, a 30-day window is given to cancel the policy. The amount paid is refunded after deducting stamp duty, medical expenses, and proportionate risk premium.

• Loan Availability:
  Loans are not available under this policy.

What is Not Covered Under ICICI Pru iProtect Super?

While the ICICI Pru iProtect Super Plan offers comprehensive coverage, there are specific scenarios and conditions where claims may not be admissible. These exclusions include:

Suicide Exclusion:
If the policyholder commits suicide within the first 12 months of the policy commencement or revival, only 80% of the premiums paid will be refunded, and no death benefit will be payable.

Note: You should also check the benefits of term life insurance if you are planning to purchase the term insurance plan.

FAQs