You plan to give a future full of happiness and comfort to your loved ones. However, life isn't always predictable. These uncertainties of life may pose a hurdle to your plan of a perfect future for yourself and your loved ones.
Our ICICI Pru iProtect Return of Premium provides security to you and your loved ones against all such eventualities, safeguards your future planning while simultaneously also ensuring that you get a survival/maturity benefit.
Here's a plan which understands that change is the only constant and changes with your changing needs.
a. Return of Premium: Get life cover1 throughout the policy term. Also, get 105% of your premiums back* on maturity.
b. Income Benefit: Get life cover1 throughout the policy term and start getting Monthly Income4 of 0.1%, 0.2% or 0.3% of initial life cover1 from the age of 60 till the end of policy term.
c. Return of Premium with Life-stage cover: Get life cover1, which changes as per your changing life-stage throughout the policy term. Also, get 105% of your premiums back* on maturity.
d. Early Return of Premium with Life-stage cover: Get life cover1, which changes as per your changing life-stage throughout the policy term. Also, get 105% of your premiums back* during the policy term, when you turn 60 or 70 years of age.
Your premiums will vary depending on the plan option chosen.
*Premium back refers to the total of all premiums received, excluding premiums for optional benefits i.e. Accidental Death Benefit6, Critical Illness Benefit5, any extra premium, any rider premium and taxes, if any.
Life-stage cover2 in âReturn of Premium with Life-stage coverâ and âEarly Return of Premium with Life-stage coverâ is a smart life cover which changes with your changing life-stage and responsibilities.
Please note:
Under each of the above plan options, you can choose to avail additional benefits such as protection against 64 Critical Illnesses or additional life cover1 in case of accidental death by choosing any of the following benefit options:
Coverage | Life | Life Plus | Life and Health | All-in-one |
---|---|---|---|---|
Death | â | â | â | â |
Accidental Death | X | â | X | â |
Critical Illness | X | X | â | â |
Your premiums will vary depending on the benefit option chosen.
Payout Option | Details |
---|---|
Lump sum | All benefits paid as lump sum |
Income | 20% of the benefit amount is payable every year for 5 years. This will be paid in equal monthly instalments in advance at the rate of 1.66667% of Death Benefit Amount. The beneficiary can also advance the first year's income as lump sum. The Monthly Income will start from the subsequent month for 4 years at the rate of 1.34% of the Death Benefit Amount. |
Lump sum and Income | The percentage of the Sum Assured to be paid out as lump sum is chosen at inception. The balance Sum Assured will be paid out in equal monthly instalments in advance at the rate of 1.66667% per month over 5 years. |
Once you have chosen your Plan Option and Benefit Option, select a premium payment term, frequency and policy term most suitable to you.
On cancellation of the policy during the free look period, we will return the premium subject to the deduction of:
The policy shall terminate on payment of this amount and all rights, benefits and interests under this policy will stand extinguished.
*Distance marketing includes every activity of solicitation (including lead generation) and sale of insurance products through the following modes: (i) Voice mode, which includes telephone-calling (ii) Short Messaging service (SMS) (iii) Electronic mode which includes e-mail, internet and interactive television (DTH) (iv) Physical mode which includes direct postal mail and newspaper & magazine inserts and (v) Solicitation through any means of communication other than in person
The Death benefit shall not apply or be payable in respect of any death other than death due to accident during the first 90 days from the Date of Commencement of Risk
Any change in revival conditions will be subject to prior approval from IRDAI and will be disclosed to Policyholders. Please refer to the policy document for more details on 'Policy Revival'.
Mode of Premium Payment | Loading (as a % of Premium) |
---|---|
Monthly | 2.50% |
Semi-Annual | 1.25% |
Annual | NA |
Any person making default in complying with the provisions of this section shall be punishable with fine which may extend to ten lakh rupees.
In case of fraud or misstatement, the policy shall be cancelled immediately by paying the surrender value subject to the fraud or misstatement being established by the company in accordance with Section 45 of the Insurance Act 1938, as amended from time to time.
Life cover is the death benefit payable on death of the Life Assured during the policy term.
For âReturn of Premiumâ plan option, Death Benefit will be the highest of a) Sum Assured on Death b) Basic Sum Assured to be paid on death c) (Applicable only for limited pay and regular pay) 105% of the Total Premiums Paid till the date of death. Where Sum Assured on Death is 7 X Annualised Premium for regular pay and limited pay and 1.25 X Single Premium for single pay;
For âIncome Benefitâ plan option, Death Benefit will be the highest of a) Sum Assured on Death b) 105% of the Total premiums Paid till the date of death c) Basic Sum Assured to be paid on death, less total Survival Benefit paid till date of death. Where, Sum Assured on Death is 10 X Annualised Premium.
For âReturn of Premium with Life-stage coverâ & âEarly Return of Premium with Life-stage coverâ plan options, Death Benefit will be the highest of a) Sum Assured on Death b) 105% of the Total premiums paid till the date of death c) Absolute amount assured to be paid on death Where Sum Assured on Death is 7 X Annualised Premium.
For âReturn of Premium with Life-stage coverâ & âEarly Return of Premium with Life-stage coverâ plan options, Death Benefit will be the highest of a) Sum Assured on Death b) 105% of the Total premiums paid till the date of death c) Absolute amount assured to be paid on death Where Sum Assured on Death is 7 X Annualised Premium.
In case of Life-stage cover, Absolute amount assured to be paid on death will be based on age of the Life Assured as provided below.
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Return of Premium: Return of premiums is available on survival under three of the Plan Options: âReturn of Premiumâ, âReturn of Premium with Life-stage coverâ and âEarly Return of Premium with Life-stage coverâ and refers to 105% of total of all premiums received, excluding premiums for optional benefits i.e. Accidental Death Benefit, Critical Illness Benefit, any extra premium, any rider premium and taxes, if any. The plan options âReturn of Premiumâ and âReturn of Premium with Life-stage coverâ provide maturity benefit on survival of the Life Assured till the end of the policy term. The plan option âEarly Return of Premium with Life-stage coverâ provides survival benefit on survival of the Life Assured till the policy anniversary immediately after the Life Assured turns age 60 or 70, depending on the return of premium age chosen by the customer at inception. The fourth plan option âIncome Benefitâ provides regular monthly income from the policy anniversary after the Life Assured attains age 60 as a survival benefit till the end of the policy term. Please note that the sum of monthly incomes paid under this plan option can be higher or lower than the total premiums paid by the customer, and may not be return of premium.
Monthly Income: Monthly income is available under âIncome Benefitâ plan option and starts from the policy anniversary after the Life Assured turns 60 years of age till the end of the policy term. Please note that the monthly income is 0.1%,0.2% or 0.3% of base Sum Assured depending on the monthly income percentage chosen by the customer at inception and the sum of monthly incomes paid under this plan option can be higher or lower than the total premiums paid by the customer, and may not be return of premium.
Critical Illness Benefit: CI Benefit is an additional optional benefit chosen at inception and is available with âLife and healthâ and âAll in Oneâ benefit options. The CI Sum Assured is paid as a lump sum upon the Life Assured being diagnosed on first occurrence of any of the covered 60 major Critical Illnesses within CI Benefit term. 25% of the CI Sum Assured or INR 500,000.00 whichever is lower is paid as a lump sum upon the Life Assured being diagnosed on occurrence of any of the covered 4 minor Critical Illnesses within CI Benefit term. CI Benefit is available for Single Pay and Limited Pay and is lower of (15 years, policy term). For regular pay, the CI benefit term will be lower of (policy term, 40 years) subject to maximum cover ceasing age of 85 years. CI Benefit can be less than or equal to the Basic Sum Assured chosen by You at inception for Return of Premium Plan and Income Benefit Plan. CI Benefit can be less than or equal to the 50% of the Basic Sum Assured chosen at inception for Return of Premium with Life-stage Cover Plan and Early Return of Premium with Life-stage Cover Plan. CI Benefit is a pure risk benefit and does not have Survival or Maturity Benefit. Premiums paid corresponding to CI Benefit shall be excluded from Survival or Maturity Benefit.
Accidental Death Benefit: ADB Benefit is an additional optional benefit and is available with âLife Plusâ and âAll in Oneâ benefit options. In the event of the Life Assuredâs death due to an Accident, ADB will be payable as a lump sum. ADB is available for the policy term or till the age of 80 years, whichever is lower. For Return of Premium Plan and Income Benefit Plan, ADB can be less than or equal to the Basic Sum Assured as per plan option. For Return of Premium with Life-stage Cover Plan and Early Return of Premium with Life-stage Cover Plan, ADB can be less than or equal to the 50% of the Basic Sum Assured chosen at inception. ADB is a pure risk benefit and does not have Survival or Maturity Benefit. Premiums paid corresponding to ADB shall be excluded from Survival or Maturity Benefit.
In all plan options, guarantee is in the form of âGuaranteed incomeâ as regular income and âSum assured on maturityâ as a part of Maturity Benefit. Additionally, in âImmediate Income with boosterâ plan option, the âGuaranteed boosterâ also forms a part of guaranteed benefits. Guaranteed returns are payable subject to all due premiums being paid and survival of the life assured.
© ICICI Prudential Life Insurance Co. Ltd. All rights reserved. Registered with Insurance Regulatory & Development Authority of India (IRDAI) as Life Insurance Company. Regn. No. 105. CIN: L66010MH2000PLC127837. Reg. Oâ.: ICICI PruLife Towers, 1089 Appasaheb Marathe Marg, Prabhadevi, Mumbai 400025. Tel.: 40391600. Customer helpline number - 1860 266 7766. Timings â 10:00 A.M. to 7:00 P.M., Monday to Saturday (except national holidays). Member of the Life Insurance Council. For more details on the risk factors, term and conditions please read the product brochure carefully before concluding the sale. Trade Logo displayed above belongs to ICICI Bank Ltd & Prudential IP services Ltd and used by ICICI Prudential Life Insurance Company Ltd under license ICICI Pru iProtect Return of Premium UIN:105N186V01 . Advt. No.: W/II/0374/2023-24
BEWARE OF SUSPICIOUS PHONE CALLS AND FICTITIOUS/FRAUDULENT OFFERS
IRDAI is not involved in activities like selling insurance policies, announcing bonus or investment of premiums. Public receiving such phone calls are requested to lodge a police complaint.
IRDAI CAUTIONS PUBLIC AGAINST SPURIOUS CALLS AND FICTITIOUS OFFERS
The plan is not a guaranteed issuance plan and it will be subject to Companyâs underwriting and acceptance. INDUSIND Bank Limited (CA Registration no:CA0001) is the Corporate Agent of ICICI Prudential Life Insurance Company Limited and does not underwrite the risk or act as an insurer. INDUSIND Bank Limited, 2401, Gen. Thimmayya Rd., (Cantonment), Pune â 411001. Participation by the Bankâs clients in the insurance products is purely on voluntary basis. Call us on: 1860 267 7777.