In today's fast-paced world, securing the financial future of our loved ones has become more important than ever. One effective way to achieve this is through a reliable term insurance plan. Among the many available options, ICICI Prudential iProtect Smart Term Plan stands out as a comprehensive and flexible solution. It is even more convenient to purchase this plan online, offering a seamless and hassle-free experience.
The ICICI Prudential iProtect Smart Term Plan assures individuals that their family's financial well-being will be protected in the event of an unforeseen circumstance. This plan offers a wide range of benefits, including extensive coverage options, flexible sum assured choices, and multiple payout options. By buying ICICI Prudential iProtect Smart Term Plan online, individuals can take advantage of the digital revolution and simplify the entire process. Gone are the days of lengthy paperwork and multiple visits to the insurer's office. With just a few clicks, you can secure your family's future from the comfort of your own home.
This article will guide you through the process of purchasing the ICICI Prudential iProtect Smart Term Plan online, providing a step-by-step outline to ensure a smooth and informed decision-making process. Additionally, we will highlight the advantages of buying this plan online, such as convenience, time-saving benefits, enhanced transparency, and secure transactions. Let's delve into the details of the ICICI Prudential iProtect Smart Term Plan and explore how you can purchase it online to safeguard your loved ones' financial stability in the face of uncertainties.
Overview of ICICI Prudential iProtect Smart Term Plan
ICICI Prudential iProtect Smart Term Plan is a comprehensive and flexible term insurance plan offered by ICICI Prudential Life Insurance Company. It is designed to provide financial protection and security to individuals and their families in the unfortunate event of the policyholder's demise. This term plan offers a range of features and benefits that cater to the evolving needs and preferences of policyholders. This plan also offers you the option to enhance your coverage against Accidental Death and Accelerated Critical Illnesses and hence ensuring 360-degree coverage of your life.
Benefits Options:
- Life Option: Death Benefit + Terminal Illness + Waiver of Premium on Permanent Disability
- Life Plus Option: Death Benefit + Terminal Illness + Waiver of Premium on Permanent Disability + Accidental Death Benefit
- Life and Health Option: Death Benefit + Terminal Illness + Waiver of Premium on Permanent Disability + Accelerated Critical Illness Benefit
- All in One Option: Death Benefit + Terminal Illness + Waiver of Premium on Permanent Disability + Accidental Death Benefit + Accelerated Critical Illness Benefit
Key Features of ICICI Prudential iProtect Smart Term Plan
ICICI Prudential iProtect Smart Term Plan is a comprehensive term insurance plan that offers several key features to provide financial protection and security to policyholders and their families. Here are the key features of ICICI Prudential iProtect Smart Term Plan:
- Wide Coverage Options: The plan offers multiple coverage options to cater to diverse needs. You can choose from the following options based on your requirements.
- Flexible Sum Assured: ICICI Prudential iProtect Smart Term Plan allows you to choose the sum assured based on your financial needs and responsibilities. The sum assured can be selected according to your income, liabilities, and future financial goals.
- Multiple Payout Options: The plan offers flexibility in selecting the payout option. You can choose from the following options:
- Lump Sum Payout
- Regular Monthly Income
- Lump Sum with Monthly Income
- Additional Riders and Benefits: ICICI Prudential iProtect Smart Term Plan allows you to enhance your coverage by adding optional riders. These riders provide additional benefits and protection. Some popular riders include:
- Accidental Death Benefit Rider
- Critical Illness Benefit Rider
- Waiver of Premium Rider
- Tax Benefits: The premiums paid towards the ICICI Prudential iProtect Smart Term Plan are eligible for tax benefits under Section 80C of the Income Tax Act, 1961. The benefits received by the nominee in case of the policyholder's demise are also tax-free under Section 10(10D) of the Income Tax Act.
Eligibility Criteria for ICICI Prudential iProtect Smart Term Plan
| Premium Payment Option |
Minimum Entry Age |
Maximum Entry Age |
Minimum Policy Term |
Maximum Policy Term |
Premium Payment Term |
| Single Pay |
18 years |
65 years |
5 years |
20 years |
Single |
| Regular Pay |
18 years |
65 years |
5 years |
85 years - age of entry, Whole Life(99 years- age of entry) |
Equal to policy term |
| Limited Pay |
18 years |
65 years |
10 years, 15 years, PPT+ 5 years |
85 years - age of entry, Whole Life(99 years- age of entry) |
5, 7, PT- 5 years, 10 years, 60 years - (age of entry) |
| Minimum Sum Assured |
Subject to the minimum premium |
| Maximum Sum Assured |
No Limit |
| Mode of Premium Payment |
Single, Yearly, Half-yearly and Monthly |
| Minimum Premium |
2400/- |
| Accelerated Critical Illness |
Minimum: 1 lakh, Maximum: As per the Board Approved Underwriting Policy |
| Accidental Death Benefit |
Minimum: 1 Lakh, Maximum: Equal to Sum Assured |
How to Buy ICICI Prudential iProtect Smart Term Plan Online
The process of buying an ICICI Pru iProtect Smart term insurance policy online has become simple with PolicyBachat. Follow the below steps to buy term insurance online:
At PolicyBachat Website:
- Step 1: Visit the PolicyBachat website. Click on the ‘Term’ tab. Enter the details such as Gender, Annual income from all the sources, Alcohol consumption and tobacco consumption, Salaries or Self-employed, and Date of Birth. After this, you need to enter your contact details to facilitate a call from our agent.
- Step 2: Now the premium from different insurance companies will be displayed on the screen. You can edit the details such as Coverage, Term, Premium payment method, Mode of claim settlement, etc., and submit the details to get the desired premium. The premium can be changed by changing other factors such as Coverage required, mode of payment, etc.
- Step 3: Compare different plan rates with the ICICI Pru iProtect Smart plan, Select the plan and pay the premium online. After the premium payment is successful, you will receive an email of the premium payment receipt.
At ICICI Prudential Life Insurance Company Website
Here is a step-by-step guide on how to purchase this term plan online at Insurer’s website:
- Visit the ICICI Prudential Website: Go to the official website of ICICI Prudential Life Insurance.
- Navigate to the iProtect Smart Term Plan: Explore the insurance products section or use the search function on the website to find the iProtect Smart Term Plan.
- Calculate the Premium: Use the online premium calculator available on the website to get an estimate of the premium amount based on your chosen coverage and sum assured.
- Provide Personal and Medical Information: Fill in the required details, such as your name, age, gender, contact information, occupation, and medical history. Ensure that the information provided is accurate and complete.
- Choose Riders and Additional Coverage: Select any additional riders or benefits you wish to include with the base plan. Riders like accidental death benefit, critical illness benefits, or waiver of premium can be added to enhance the coverage as per your requirements.
- Review Policy Details: Carefully review the policy details, including the coverage options, premium amount, riders, and terms and conditions. Ensure that you understand all the features and benefits associated with the plan.
- Make the Payment: Choose the preferred mode of premium payment (e.g., debit/credit card, net banking) and proceed to make the payment online. Ensure that the payment gateway is secure and reliable.
- Confirmation and Policy Issuance: After successful payment, you will receive a confirmation of your purchase. The insurance company will process your application and issue the policy documents to you. These documents may be sent via email or physical mail, depending on your preference.
Advantages of Buying ICICI Prudential iProtect Smart Term Plan Online
Buying ICICI Prudential iProtect Smart Term Plan online offers several advantages for individuals seeking term insurance coverage. Here are the key benefits of purchasing this plan online:
- Convenience and Accessibility: Buying the term plan online allows you to complete the entire process from the comfort of your own home or any location with internet access. There is no need to visit a physical branch or meet with an agent, saving you time and effort.
- Time-Saving Process: Online purchase eliminates the need for extensive paperwork and multiple visits to the insurer's office. The digital process is streamlined and efficient, enabling you to complete the application quickly and receive policy documents in a shorter timeframe.
- Enhanced Transparency: The online platform provides clear and transparent information about the features, benefits, and terms of the iProtect Smart Term Plan. You can easily access and review the policy details, premium calculations, and coverage options, ensuring you make an informed decision.
- Comparative Analysis: Buying the term plan online allows you to compare different plans offered by ICICI Prudential or even other insurance providers. You can explore various coverage options, riders, and premiums, enabling you to select the plan that best suits your needs and budget.
- Secure Online Transactions: ICICI Prudential's online platform ensures secure payment processing. It employs robust security measures to protect your personal and financial information during the transaction, giving you peace of mind.
- Flexibility to Customize: The online interface provides flexibility in customizing your coverage. You can choose the sum assured, select from different coverage options, and add riders based on your specific requirements.
- Digital Policy Documents: Once the purchase is complete, you will receive the policy documents digitally. This ensures easy access and storage of important documents, reducing the risk of misplacement.
Documents Required to Buy ICICI Pru iProtect Smart Plan
| Identity Proof: |
Aadhaar card
PAN card
Passport
Voter ID card
Driving license |
| Address Proof: |
Aadhaar card
Utility bill (electricity bill, telephone bill, etc.)
Bank statement
Passport
Rent agreement |
| Age Proof: |
Birth certificate
Passport
PAN card |
| Income Proof: |
Salary slips
Income tax returns (ITR)
Bank statements
Form 16 |
| Photographs: |
Passport-sized photographs |
Conclusion
Purchasing ICICI Prudential iProtect Smart Term Plan online offers a seamless and efficient way to secure your family's financial future. With its comprehensive coverage options, flexible sum assured choices, and multiple payout options, this term plan caters to your specific needs and preferences. By opting for the online purchase process, you can enjoy the convenience of accessing the plan from anywhere, saving time by eliminating paperwork and physical visits and benefiting from enhanced transparency and comparative analysis of different plans.
By choosing ICICI Prudential iProtect Smart Term Plan online, you can efficiently protect your loved ones' financial well-being in the event of an unfortunate circumstance. Take advantage of the digital revolution and embrace the convenience and benefits of buying this term plan online to ensure a secure future for your family.
Compare quotes now at PolicyBachat to get an affordable premium on ICICI Pru IProtect Smart Term Plan