Term Life Insurance
ICICI Prudential iProtect Smart Review 2026
Couples looking for joint term coverage under one policy
★★★★★★4.4
Last updated: 15 December 202597.82%
Claim Settlement Ratio
97.82% (FY 2023-24)
Excellent track record of settling claims
Key Features
✓Cover up to Rs 5 crore
✓Lump sum, monthly income, or increasing income payout
✓Spouse cover under single policy
✓Terminal illness benefit
✓Return of premium option
Coverage Details
Plan Details
| Min Coverage | ₹25 Lakh |
| Max Coverage | ₹5 Crore |
| Coverage Unit | life cover in Rs |
| Claim Settlement Ratio | 97.82% (FY 2023-24) |
| Premium Starts From | Rs 520/month (Rs 1 crore, 30-year-old male, non-smoker) |
| Entry Age | 18 to 65 years |
| Renewal | Coverage up to age 85 |
Plan Options
LifeLife PlusAll-in-OneReturn of Premium
Rating Breakdown
features
4.5/5
value
4.3/5
support
4.3/5
benefits
4.4/5
Pros & Cons
✓Pros
- ✔Cover up to Rs 5 crore online
- ✔97.82% claim settlement ratio
- ✔Multiple payout options — lump sum, income, or increasing income
- ✔Covers 34 critical illnesses with rider
- ✔Option to cover spouse under same policy
✗Cons
- ✘Premiums slightly higher than LIC e-Term
- ✘Return of premium variant is expensive
- ✘Limited offline application support
Benefits Included
- ✔Death benefit (lump sum or income)
- ✔Terminal illness benefit
- ✔Accidental death rider
- ✔Critical illness rider (34 illnesses)
- ✔Disability waiver of premium
Exclusions
- ✘Suicide within 12 months
- ✘Non-disclosed medical conditions
- ✘War and nuclear events
Frequently Asked Questions
ICICI Prudential has a claim settlement ratio of 97.82% (FY 2023-24). This indicates the percentage of claims that were successfully settled by the insurer out of total claims received.
ICICI Prudential iProtect Smart premiums start from Rs 520/month (Rs 1 crore, 30-year-old male, non-smoker). The actual premium depends on your age, sum insured, plan variant, and number of members covered.
ICICI Prudential iProtect Smart offers coverage from ₹25 Lakh to ₹5 Crore (life cover in Rs).
ICICI Prudential iProtect Smart offers multiple payout options including lump sum payment and monthly income to nominees. Check the plan options: Life, Life Plus, All-in-One, Return of Premium.
ICICI Prudential iProtect Smart is available for individuals aged 18 to 65 years. Coverage continues coverage up to age 85.
