ICICI Pru iProtect Smart Plus: A Smart Life Cover That Adapts to Your Journey

In today’s unpredictable world, securing your family’s financial future is more important than ever. Life insurance is no longer just a safety net—it’s a strategic tool that ensures your loved ones are protected even in your absence. ICICI Pru iProtect Smart Plus is a comprehensive life insurance plan designed to adapt to your life journey, offering flexibility, multiple benefits, and financial security.

ICICI Pru iProtect Smart Plus life cover plan

Protect your family’s future with ICICI Pru iProtect Smart Plus, a flexible term insurance plan offering life cover, critical illness protection, accidental death benefit, and premium refund options. Learn its features, benefits, and discounts.

What is ICICI Pru iProtect Smart Plus?

ICICI Pru iProtect Smart Plus is a modern term insurance plan that combines life cover with optional add-ons such as critical illness, accidental death cover, and premium protection. Unlike traditional plans, it adapts to your changing needs, providing benefits that are relevant at every stage of life. Whether you are starting a family, planning your children’s education, or securing your retirement, this plan offers a holistic solution.

Key Features and Benefits

1. High Claim Settlement Ratio

ICICI Prudential Life Insurance boasts a 99.3% claim settlement ratio (FY2025). This demonstrates the company’s commitment to providing timely support to families, ensuring that claims are settled quickly and efficiently.

2. Premium Refund Option

With 100% premium refund option°, your premiums are returned at the end of the policy term if no claim arises. This makes the plan not just a protective cover but also a smart financial investment, allowing you to recover your payments while keeping your family safe.

3. Instant Claim Payout

The plan offers ₹3 Lakh instant claim payout5, providing immediate financial assistance to your family in times of need. This feature ensures that urgent expenses such as medical bills, loans, or daily living costs are covered without delay.

4. Terminal Illness Benefit

A diagnosis of a terminal illness can be overwhelming. The terminal illness benefit6 provides financial support so that you can focus on treatment and family care without worrying about expenses. This benefit ensures that you are protected even in critical situations.

5. 12-Month Premium Break Option

Life can be unpredictable, and there may be times when paying premiums is difficult. The 12-month premium break option4 allows policyholders to pause premium payments for up to 12 months without losing coverage, offering flexibility and peace of mind.

6. Accidental Death Cover (Optional)

Accidents are unforeseen, and their financial impact can be severe. The optional accidental death cover3 ensures that your family receives additional financial support in case of accidental demise.

7. Critical Illness Cover (Optional)

ICICI Pru iProtect Smart Plus offers an optional cover for 60 critical illnesses2, providing financial assistance to cope with treatment costs, rehabilitation, and lifestyle adjustments. This ensures that your health challenges do not become a financial burden for your loved ones.

Discounts That Make Your Premium More Affordable

ICICI Pru iProtect Smart Plus offers attractive discounts that reward different categories of policyholders:

Up to 15% Salaried Discount (1st Year) – Special benefit for salaried individuals in the first policy year.
Up to 5% Lifetime Online Discount – Save on premiums by purchasing or managing your policy online.
Flat 15% Lifetime Female Discount – Exclusive discount for female policyholders, promoting financial inclusion and making coverage more affordable.

Why Choose ICICI Pru iProtect Smart Plus?

1. Comprehensive Protection

This plan goes beyond basic life cover. With optional critical illness and accidental death benefits, you can design a policy that suits your unique needs.

2. Flexibility to Adapt to Life Changes

Life is unpredictable. The premium break option and optional add-ons make it easy to adjust your plan as your circumstances change, without compromising on coverage.

3. Financial Security for Your Family

The combination of life cover, instant claim payout, and terminal illness benefit ensures that your family remains financially secure, regardless of what happens.

4. Smart Investment Component

The premium refund option ensures that even if no claim arises, your premiums are returned at the end of the policy term, making it a smart financial choice.

How to Buy ICICI Pru iProtect Smart Plus

Buying this policy is simple and can be done online in a few easy steps:

Visit the Official Website – Go to ICICI Prudential Life Insurance.
Choose Your Coverage – Select the sum assured, policy term, and optional add-ons.
Fill Personal Details – Enter your personal information, nominee details, and contact information.
Upload Required Documents – Provide KYC documents such as identity and address proof.
Pay Premium – Make payment securely online using various payment methods.
Receive Policy – After verification, your policy documents will be delivered electronically.

Tips for Policyholders

Assess Your Needs – Determine the sum assured and optional covers based on your family’s financial requirements.
Review Policy Terms – Understand all benefits, exclusions, and terms before purchasing.
Consult a Financial Advisor – Get personalized guidance to ensure your policy aligns with your financial goals.
Keep Documents Ready – Have KYC and personal documents ready to speed up the application process.

Frequently Asked Questions (FAQs) – ICICI Pru iProtect Smart Plus

1. What is ICICI Pru iProtect Smart Plus?

ICICI Pru iProtect Smart Plus is a comprehensive term life insurance plan that offers financial protection for your family in case of your unfortunate demise. It provides optional benefits like critical illness cover, accidental death benefit, and premium refund option, making it one of the most flexible life insurance plans in India.

2. What are the key benefits of ICICI Pru iProtect Smart Plus?

Key benefits include:

Life cover up to 99 years of age
Accidental death cover (optional)
60 critical illness cover (optional)
Terminal illness benefit
12-month premium break option
100% premium refund option
Attractive discounts for salaried individuals and women

3. What is the claim settlement ratio of ICICI Prudential Life Insurance?

As per FY2025 data, ICICI Prudential Life Insurance has a claim settlement ratio of 99.3%, reflecting its reliability and quick claim processing.

4. What is the minimum and maximum entry age for ICICI Pru iProtect Smart Plus?

Minimum entry age: 18 years
Maximum entry age: 65 years (depending on plan type and coverage selected)

5. What are the plan options available under ICICI Pru iProtect Smart Plus?

There are multiple coverage options such as:

Life Option: Basic life cover
Life Plus Option: Life cover + accidental death benefit
Life & Health Option: Life cover + critical illness cover
All-in-One Option: Life, health, and accidental death cover together

6. What is the premium refund option in ICICI Pru iProtect Smart Plus?

Under the Return of Premium (ROP) option, if you survive till the end of the policy term, 100% of the premiums paid are refunded to you. It’s ideal for those who want protection plus savings.

7. Does ICICI Pru iProtect Smart Plus cover critical illnesses?

Yes, the plan offers an optional critical illness rider that covers up to 60 major illnesses, including cancer, heart attack, stroke, kidney failure, and more.

8. What is the “Premium Break” feature?

The 12-month Premium Break Option allows you to pause your premium payments once during the policy term without losing coverage, offering financial flexibility in case of emergencies.

9. What is the Terminal Illness Benefit in this plan?

If the policyholder is diagnosed with a terminal illness, the plan pays out the full life cover amount immediately, helping with medical and family expenses during critical times.

10. Can I get accidental death coverage in this plan?

Yes, you can opt for an Accidental Death Benefit Rider, which provides an additional sum assured if death occurs due to an accident, ensuring extra financial protection for your loved ones.

11. What are the available discounts under ICICI Pru iProtect Smart Plus?

Up to 15% salaried discount (first year)
Up to 5% lifetime online discount
Flat 15% lifetime female discount

These discounts make the plan more affordable and rewarding for responsible buyers.

12. How can I buy ICICI Pru iProtect Smart Plus?

You can buy it online directly from the ICICI Prudential Life Insurance website by choosing your cover, filling in details, uploading KYC documents, and making a secure online payment.

13. What happens if I miss paying my premium?

ICICI Prudential offers a grace period of 15–30 days depending on the payment frequency. If you fail to pay within that period, your policy may lapse, but it can be revived within 5 years as per policy terms.

14. Is the ICICI Pru iProtect Smart Plus plan suitable for women?

Yes, absolutely. The plan offers a flat 15% lifetime discount for female policyholders, making it one of the most affordable and beneficial term insurance plans for women.

15. Can NRIs buy ICICI Pru iProtect Smart Plus?

Yes, Non-Resident Indians (NRIs) and Persons of Indian Origin (PIOs) are eligible to purchase this plan, subject to standard underwriting and documentation requirements.

16. Is there any medical test required for this plan?

Yes, depending on your age, sum assured, and medical history, you may need to undergo basic medical tests before approval. This ensures accurate risk assessment and coverage.

17. Does the plan offer tax benefits?

Yes, you can claim tax deductions under Section 80C for premiums paid and Section 10(10D) for claim or maturity proceeds, as per prevailing tax laws.

18. Can I increase my cover during the policy term?

Yes, the plan offers life stage protection, allowing you to enhance your coverage during major life events such as marriage, childbirth, or home purchase, ensuring your protection grows with your needs.

19. What is the policy term and premium payment term available?

Policy term: 5 to 99 years (depending on option chosen)
Premium payment term: Single, limited, or regular pay options available

20. How can I file a claim for ICICI Pru iProtect Smart Plus?

You can file a claim online by visiting ICICI Prudential’s claim portal or at any branch office. Provide the claim form, policy documents, death certificate, and KYC of the nominee. The company ensures quick and transparent claim settlement.

21. What makes ICICI Pru iProtect Smart Plus different from other term plans?

It’s a customizable, flexible, and benefit-rich term insurance plan offering critical illness cover, premium return, and premium break features—making it a future-ready protection plan tailored for modern families.

22. Is there any surrender value in ICICI Pru iProtect Smart Plus?

Yes, if you have opted for the Return of Premium option, your plan acquires a surrender value after a few years of premium payments.

23. How can I check the status of my policy?

You can log in to the ICICI Prudential Life Insurance customer portal using your registered ID and password to check policy status, premium due dates, and download e-statements.

24. What documents are required to apply for this plan?

You’ll need:

Identity proof (Aadhaar, PAN, or Passport)
Address proof
Recent photograph
Income proof (for high coverage)
Medical reports (if applicable)

25. Why should I choose ICICI Pru iProtect Smart Plus?

You should choose it for:

High claim settlement ratio (99.3%)
Multiple protection options
Premium refund benefit
Critical illness and accidental death cover
Tax savings and online discounts
It’s one of the most trusted term insurance plans in India for long-term security.

ICICI Pru iProtect Smart Plus is more than just a life insurance policy—it’s a comprehensive protection plan that grows with your life. From providing financial security during critical illnesses to offering instant claim payouts and flexible premium options, this plan ensures your family is always protected.

By combining smart life cover, optional critical illness protection, and attractive discounts, ICICI Pru iProtect Smart Plus empowers you to plan for your future confidently. Secure your family’s financial wellbeing today and experience peace of mind with a policy that adapts to your journey.