With our Term Life Insurance ICICI Pru iProtect Smart, you get to choose from 4 payout options:
1. Lump sum
2. Income
3. Lump sum and Income
4. Increasing income.

At the time of death claim approval and at any time after the start of monthly income, the Claimant will have the option to convert the outstanding monthly income into lump sum pay out and the policy will terminate after the lump sum payout. The lump sum amount will be the present value of future payouts calculated at a discount rate as given below:
At the time of death claim approval: 4% p.a.
At any time after the payment of first monthly income: Higher of 4% and 10-year Government Securities yield, rounded to nearest 0.25%. The yield on 10-year Government Securities will be sourced from www.bloomberg.com. Shown below are annual premiums for different versions of a sample term plan with a life cover of ₹ 1 crore, 34 Critical Illness Benefit of ₹ 10 lakh and Accidental Death Benefit of ₹ 1 crore. This example is for a 30-year-old healthy male (Occupation:Non-salaried) for a 30-year policy term, payout option for income option is taken for 30 years. The premiums are on annual basis, inclusive of taxes, in the case of Regular Pay.

^*Death Benefit as Income for 30 years

Please note:

Payout options:

• Lump sum: The entire benefit amount is payable as a lump sum.
• Increasing Income: The benefit amount is payable in monthly instalments for 10 years, starting with 10% of the benefit amount per annum in the first year. The income amount will increase by 10% per annum simple interest every year thereafter.
• Income: The benefit amount can be paid out in 10,20 & 30 years, in equal monthly instalments.
• Lump sum and Income: The percentage of the Death Benefit to be paid out as lump sum is chosen at inception. The balance Death Benefit will be paid out in equal monthly instalments in advance, for the chosen Income Term at a defined rate of death benefit for 10, 20 or 30 years.

At the time of death claim approval and at any time after the start of monthly income, the Claimant will have the option to convert the outstanding monthly income into lump sum pay out and the policy will terminate after the lump sum payout. The lump sum amount will be the present value of future payouts calculated at a discount rate as given below:

At the time of death claim approval: 4% p.a.

At any time after the payment of first monthly income: Higher of 4% and 10-year Government Securities yield, rounded to nearest 0.25%. The yield on 10-year Government Securities will be sourced from www.bloomberg.com

¹With ICICI Pru iProtect Smart, you can choose from various options like Life, Life Plus, Life & Health and All-in-One to suit your protection needs.

² Accelerated Critical Illness benefit(ACI benefit) is upto 1 crore (Subjected to underwriting guidelines). Accelerated Critical Illness Benefit (ACI Benefit) is optional and available under Life & Health and All in One options. This benefit is payable, on first occurrence of any of the 34 illnesses covered. Medical documents confirming diagnosis of critical illness needs to be submitted. The benefit is payable only on the fulfillment of the definition of the diagnosed critical illness. The ACI Benefit, is accelerated and not an additional benefit which means the policy will continue with the Death Benefit reduced by the extent of the ACI Benefit paid. The future premiums payable under the policy will reduce proportionately. If ACI Benefit paid is equal to the Death Benefit, the policy will terminate on payment of the ACI Benefit. To know more in about ACI Benefit, terms & conditions governing it, kindly refer to sales brochure. ACI Benefit term would be equal to policy term or 30 years or (75-Age at entry), whichever is lower.

³ Accidental Death benefit (ADB) is up to ₹2 crores(Subjected to underwriting guidelines). ADB is available in Life Plus and All in One options. In case of death due to an accident Accidental Death Benefit will be paid out in addition to Death Benefit. Accidental Death Benefit will be equal to the policy term or (80-Age at entry), whichever is lower.

⁴ The above example is for a 30-year-old healthy male (occupation:non-salaried) for ICICI Pru iProtect Smart with a life cover! of ₹1 Crore for cover till age of 60 years, and the premium rates are inclusive of all taxes. The premiums are annual and for Regular Pay. The payout options for the above mentioned premiums are as given below:

⁶In case of permanent disability due to an accident, all future premiums are waived off and the life cover continues for the remaining policy duration. This benefit comes in-built in your term insurance policy without any extra cost to you. To know more about definitions, terms & conditions applicable for permanent disability due to accident, kindly refer sales brochure of ICICI Pru iProtect Smart.

⁷A Life Assured shall be regarded as Terminally Ill only if that Life Assured is diagnosed as suffering from a condition which, in the opinion of two independent medical practitioner’s specializing in treatment of such illness, is highly likely to lead to death within 6 months. The terminal illness must be diagnosed and confirmed by medical practitioner’s registered with the Indian Medical Association and approved by the Company. The Company reserves the right for independent assessment.

^! Life Cover is the benefit payable on the death of the life assured during the policy term.

ICICI Pru iProtect Smart offers special premium rates for women and cover female organ cancers like breast cancer and cervical cancer if 34 critical illness option^## is chosen. Shown below are premium rates for the All-In-One and Life only option of a sample term plan with a life cover of ₹ 1 crore, 34 Critical Illness Benefit of ₹ 10 lakh and Accidental Death Benefit of ₹ 1 crore. This example is for a 30-year-old healthy male (occupation: salaried) and female (occupation: salaried) for a cover till age of 60 years. The premiums are on annual basis, exclusive of taxes, in case of Regular Pay:

Please note:

¹You can choose from benefit options like Life, Life Plus, Life & Health, and All-in-One option depending on your protection needs.

² Accelerated Critical Illness benefit(ACI benefit) is upto 1 crore (Subjected to underwriting guidelines). Accelerated Critical Illness Benefit (ACI Benefit) is optional and available under Life & Health and All in One options. This benefit is payable, on first occurrence of any of the 34 illnesses covered. Medical documents confirming diagnosis of critical illness needs to be submitted. The benefit is payable only on the fulfillment of the definition of the diagnosed critical illness. The ACI Benefit, is accelerated and not an additional benefit which means the policy will continue with the Death Benefit reduced by the extent of the ACI Benefit paid. The future premiums payable under the policy will reduce proportionately. If ACI Benefit paid is equal to the Death Benefit, the policy will terminate on payment of the ACI Benefit. To know more in about ACI Benefit, terms & conditions governing it, kindly refer to sales brochure. ACI Benefit term would be equal to policy term or 30 years or (75-Age at entry), whichever is lower.

³ Accidental Death benefit (ADB) is up to ₹2 crores(Subjected to underwriting guidelines). ADB is available in Life Plus and All in One options. In case of death due to an accident Accidental Death Benefit will be paid out in addition to Death Benefit. Accidental Death Benefit will be equal to the policy term or (80-Age at entry), whichever is lower.

⁴ The above example is for a 30-year-old healthy female (occupation: salaried) for ICICI Pru iProtect Smart with a life cover of ₹1 crore for cover till age of 60 years with a Lump sum payout option and the premium rates are exclusive of all taxes. The premiums are annual and for Regular Pay.

^!Life Cover is the benefit payable on the death of the life assured during the policy term.

The older you get, the higher will be your premium. That's why it makes sense to get protected now so that the premium is fixed for the complete term. Shown below are annual premiums for different versions of a sample term plan with a life cover of ₹ 1 crore, 34 Critical Illness Benefit of ₹ 10 lakh and Accidental Death Benefit of ₹ 1 crore. This example is for a 30-year-old and 32-year-old healthy male for cover till age 60 & 62 respectively with a regular pay and lump sum payout option and the premium rates are exclusive of all taxes:

Please note:

¹You can choose from benefit options like Life, Life Plus, Life & Health, and All-in-One option depending on your protection needs.

² Accelerated Critical Illness benefit(ACI benefit) is upto 1 crore (Subjected to underwriting guidelines). Accelerated Critical Illness Benefit (ACI Benefit) is optional and available under Life & Health and All in One options. This benefit is payable, on first occurrence of any of the 34 illnesses covered. Medical documents confirming diagnosis of critical illness needs to be submitted. The benefit is payable only on the fulfillment of the definition of the diagnosed critical illness. The ACI Benefit, is accelerated and not an additional benefit which means the policy will continue with the Death Benefit reduced by the extent of the ACI Benefit paid. The future premiums payable under the policy will reduce proportionately. If ACI Benefit paid is equal to the Death Benefit, the policy will terminate on payment of the ACI Benefit. To know more in about ACI Benefit, terms & conditions governing it, kindly refer to sales brochure. ACI Benefit term would be equal to policy term or 30 years or (75-Age at entry), whichever is lower.

³ Accidental Death benefit (ADB) is up to ₹2 crores(Subjected to underwriting guidelines). ADB is available in Life Plus and All in One options. In case of death due to an accident Accidental Death Benefit will be paid out in addition to Death Benefit. Accidental Death Benefit will be equal to the policy term or (80-Age at entry), whichever is lower.

⁴The above example is for a 30-year-old, and 32-year-old healthy male (occupation: salaried) for ICICI Pru iProtect Smart with a life cover of ₹1 crore for a cover till age of 60 years and 62 years respectively with a lump sum payout option and the premium rates are exclusive of all taxes. The premiums are annual and for Regular Pay.

^!Life Cover is the benefit payable on the death of the life assured during the policy term.

If you increase the life cover amount, the premium will not increase much. So it makes smart sense to take an adequate amount of life cover now. Shown below are annual premiums for different versions of a sample term plan with 34 Critical Illness Benefit of ₹ 10 lakh and Accidental Death Benefit of ₹ 1 crore. This example is for a 30-year-old healthy male (occupation: Non-salaried) with a life cover of ₹ 1 crore, ₹ 1.5 crore and ₹ 2 crore with cover till age of 60 years with a regular pay and lump sum payout option and the premium rates are inclusive of all taxes

Please note:

¹You can choose from benefit options like Life, Life Plus, Life & Health, and All-in-One option depending on your protection needs.

²Accelerated Critical Illness Benefit (ACI Benefit) is optional and available under Life & Health and All-in-One option. This benefit is payable, on the first occurrence of any of the 34 critical illnesses covered. Medical documents confirming the diagnosis of critical illness need to be submitted. The benefit is payable only on the fulfilment of the definition of the diagnosed critical illness. The ACI Benefit is accelerated and not an additional benefit, which means the policy will continue with the Death Benefit reduced by the extent of the ACI Benefit paid. The future premiums payable under the policy will reduce proportionately. If ACI Benefit paid is equal to the Death Benefit, the policy will terminate on payment of the ACI Benefit. To know more in detail about the ACI Benefit and terms & conditions governing it, kindly refer to the sales brochure. ACI Benefit term would be equal to the policy term or 30 years or (75-Age at entry), whichever is lower.

³Accidental Death Benefit (ADB) is up to ₹ 2 Crore (Subjected to Underwriting guidelines). ADB is available in Life Plus and All-in-One option. In case of death due to an accident, Accidental Death Benefit will be paid out in addition to Death Benefit. Accidental Death Benefit will be equal to the policy term or (80-Age at entry), whichever is lower.

⁴The above example is for a 30-year-old healthy male (occupation: Non-salaried) for ICICI Pru iProtect Smart with a life cover of ₹ 1 crore, ₹ 1.5 crore and ₹ 2 crore with cover till age of 60 years with a lump sum payout option and the premium rates are inclusive of all taxes.

^!Life Cover is the benefit payable on the death of the life assured during the policy term.

With ICICI Pru iProtect Smart, you can choose to pay premiums regularly, for a limited time or once - i.e. pay the premium once and get cover for the full policy term. Shown below is a comparison of premiums in the case of Single Pay and Regular Pay for a sample plan with a life cover of ₹ 1 crore. This example is for a 30-year-old healthy male (occupation: salaried) for a life cover of ₹ 1 crore with cover till age of 50 years with a lump sum payout option, and the premium rates are inclusive of all taxes: