ICICI Prudential · Term · Pure Term
iProtect Smart Plus
A term life plan with three coverage variants (Life, Life Plus with accidental cover, and Life Rebalancing), plus flexibility to skip a premium and increase cover at major life events.
Product data last fetched 26 August 2026. Features, premiums and availability may change — verify against the official brochure/policy wording before deciding.
The truth card
PurposeProtection
CategoryPure Term
InsurerICICI Prudential
Life CoverNot available in the current product data
PremiumNot available in the current product data
Policy TermNot available in the current product data
Premium-Paying TermNot available in the current product data
GuaranteeNot available in the current product data
Market ExposureNot applicable — non-linked
LiquidityNot available in the current product data
Lock-inNot available in the current product data
ChargesNot available in the current product data
Maturity BenefitNot available in the current product data
Death BenefitNot available in the current product data
SurrenderNot available in the current product data
Paid-upNot available in the current product data
Tax NotesDepends on policy structure, premium amount, issue date and applicable tax law — see our tax notes
XIRRNot available in the current product data
What this product is
A term life plan with three coverage variants (Life, Life Plus with accidental cover, and Life Rebalancing), plus flexibility to skip a premium and increase cover at major life events.
You might need this if…
- You might need this if you want life cover that can automatically increase at milestones like marriage, having a child, or taking a home loan.
- You might need this if you're worried about a temporary cash crunch — this plan allows skipping one year's premium after 5 years without losing cover.
- You might need this if you want accidental death coverage bundled in alongside standard term cover.
- You might need this if you want flexibility in how your family receives the payout — lump sum, income, or a mix.
- You might need this if you're a salaried employee or a woman — both get premium discounts on this plan.
How it actually works
- Three variants: Life (basic death benefit), Life Plus (adds an optional Accidental Death Benefit rider, 1 lakh to 3x sum assured), and Life Rebalancing (coverage that steps down after year 10, for people expecting liabilities to reduce over time).
- Premium options: Single Pay, Regular Pay, or Limited Pay (5, 7, 10, 15 years, or till age 60); salaried customers get 12.5%-15% discounts, women get 15% off.
- Death benefit payout choices: lump sum, 10-year income (10%/year), a lump-sum-plus-income hybrid, or an increasing income that rises 10% annually.
- Entry age 18-65 for Life/Life Plus (18-45 for Life Rebalancing); policy term 5-20 years (15-20 for Life Rebalancing).
- For sum assured of ₹1 crore or more, an instant ₹3 lakh payout is released within one working day of claim intimation, ahead of full claim settlement.
- A Smart Exit Benefit after 25 years (age 60+) refunds total premiums paid, letting you exit with your money back if cover is no longer needed.
Worked example
A 32-year-old woman buying ₹1 crore life cover with a matching Accidental Death Benefit rider for a 30-year term pays about ₹16,799/year. If she dies from an accident, her family would receive roughly ₹2 crore total (base cover plus the rider).
Worth knowing before you decide
- The Accidental Death Benefit rider excludes death from suicide, hazardous sports, war, drug/alcohol involvement, and high-risk aviation.
- The premium break option is only available after 5 policy years and for one year, with conditions.
- Suicide within the first 12 months limits the payout to surrender/cancellation value rather than the full sum assured.
- The Smart Exit Benefit only becomes available after a long 25-year hold, and only refunds premiums paid, without any growth.
Official source
⌟ Official product brochure
Learn about this category
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