ICICI Prudential Life Insurance – Compare Plans, Benefits, Coverages

Plan Name

ICICI Pru iProtect Smart Plan

Sum Assured

Minimum sum assured would depend on the minimum premium. 

There is no limit on the maximum sum assured.

Policy Tenure

5 years to (99-entry age)

Entry Age

18-65 years

Premium

Single, limited or regular premiums. 

Minimum premium is INR 2400 per annum

Salient Features

• There are four coverage options under the plan. Each option has inbuilt rider benefits
• Coverage can be taken for up to 99 years of age
• Four pay-out options for payment of death benefit
• Choice of increasing the coverage level on marriage or childbirth

Plan Name

ICICI Pru iCare II Plan

Sum Assured

Minimum – INR 85,875

Maximum – no limit

Policy Tenure

5-67 years

Entry Age

18-65 years

Premium

Single or regular premiums. Minimum premium is INR 2400 per annum

Salient Features

• Two coverage options to choose from
• Inbuilt accidental benefit rider in coverage option II

Plan Name

ICICI Pru Life Raksha Plan

Sum Assured

Minimum – INR 50,000

Maximum – INR 5 lakhs

Policy Tenure

5 years

Entry Age

18-60 years

Premium

Regular premium. Premium depends on the sum assured chosen

Salient Features

• Affordable term insurance plan
• Assured death benefit

Plan Name

ICICI Pru POS iProtect Smart Plan

Sum Assured

Minimum sum assured would depend on the minimum premium. 

No limit on maximum Sum Assured

Minimum Policy Tenure

Single Pay: 5 years

Regular Pay: 5 years

Limited pay: 10 years 

Entry Age

18-60 years in good health

Premium

Single, limited or regular premiums. 

Minimum premium is INR 2400 per annum

Salient Features

• An online plan with 4-day issuance
• The plan offers high sum assured at most affordable costs
• You have the option of the Accidental Death Benefit
• Flexible payment options make the plan very convenient 
• Avail of tax benefits under Section 80C and 10(10D)

Plan Name

ICICI Pru Precious Life

Sum Assured

Minimum: INR 2,00,00 

Maximum: As per the Board’s guidelines

Policy Tenure

• Single Pay: 5 – 20 years
• Limited Pay ( option 1): 10 – 40 years
• Limited Pay ( option 2): 15 – 40years
• Regular Pay: 5 – 40 years

Entry Age

18-65 years

Premium

Premiums can be paid either monthly, yearly or half-yearly.

The minimum premium is INR 2,400.

Salient Features

• The plan offers wider coverage for people with existing health problems like obesity, diabetes, etc
• The Accidental Death Benefit feature is offered as an option to increase protection.
• Option to choose the mode of benefit payout.
• Flexibility to pay premiums in one go or throughout the policy term.
• Lower premium rates for non-smoking personnel.

Plan Name

ICICI Pru Saral Jeevan Bima

Sum Assured

Minimum : INR 5,00,000 

Maximum: As per the guidelines of the board.

Policy Tenure

5 to 40 years

Entry Age

18-65 years

Premium

Premiums will depend upon the sum assured chosen.

Salient Features

• An efficient death benefit feature is included in the plan.
• Flexibility to pay premiums as per the policyholder’s convenience.
• Additional tax benefits can be awarded upon the premiums paid or payouts received.

Plan Name

ICICI Pru POS iProtect Smart

Sum Assured

Minimum: subject to the minimum premium

Maximum: Unlimited

Policy Tenure

Single pay: 5 to 20 years

Limited pay: 5 to 40 years

Regular pay: 10 to 65 years less age at entry

Entry Age

18-60 years

Premium

Premiums can be paid in one go or on a monthly, half-yearly, or yearly basis.

The minimum premium is INR 2,400.

Salient Features

• Special rates for women in the case of life cover. 
• Additional accident Death Benefit option available for enhanced protection.
• Flexibility in terms of payment of premiums.
• Affordable premiums to safeguard the health of all family members.

Plan Name

ICICI Pru iProtect Smart Return of Premium

Sum Assured

Minimum: INR 50 lakhs

Maximum: Unlimited

Policy Tenure

• For 5 pay: 10 to 85 less age at entry
• For 7 pay: 15 to 85 less age at entry
• For 10 pay: 20 to 85 less age at entry

Entry Age

18- 60 years

Premium

Premiums can be paid in one go or on a monthly, half-yearly, or yearly basis.

The minimum premium is INR 2,400.

Salient Features

• Life cover to safeguard the lives of all family members.
• Additional accident death benefit option available for enhanced protection
• Guaranteed returns on all premiums paid
• Additional payout on the diagnosis of any of the covered critical illnesses.
• Tax benefits on premiums paid and payouts received.

Plan Name

ICICI Pru Signature Plan

Sum Assured

1.25 times to 10 times the annual premium paid

Policy Tenure

10-30 years. Coverage can be extended to whole life

Entry Age

0-70 years

Premium

Single, limited or regular premiums. Minimum premium is INR 2 lakhs per annum. No limit on maximum premium.

Salient Features

• Coverage can be availed till 99 years of age
• Three plan options to choose from
• Premium allocation charges are refunded back after 10 policy years and every 5 years thereafter
• Guaranteed additions as a percentage of the annual premium
• Wealth boosters enhance the fund value
• Four readymade investment strategies to choose from

Plan Name

ICICI Pru 1 Wealth Plan

Sum Assured

1.10 to 10 times the single premium paid

Policy Tenure

5 years and 10 years

Entry Age

8-60 years

Premium

Single premium. Minimum premium is INR 50,000 and there is no limit on maximum premium.

Salient Features

• Single premium unit linked plan
• 7 investment funds to choose from
• Wealth boosters help in increasing the fund value

Plan Name

ICICI Pru Lifetime Classic Plan

Sum Assured

1.25 times to 30 times the annual premium

Policy Tenure

For limited and regular premium payment – 10,15,20,25 years

For single premium – 5-30 years

Entry Age

0-75 years

Premium

Single, limited or regular premium.

Minimum premium is INR 50,000 for single pay and INR 30,000 for regular pay.

Salient Features

• 4 portfolio strategies to choose from
• Loyalty additions are added to the fund value from the 6th policy year
• Wealth boosters are added every five years starting from the 10th policy year

Plan Name

ICICI Pru Lakshya

Sum Assured

Higher of (10 times Annualised Premium or PPT X Annualised Premium)

Policy Tenure

Between 12 to 30 years 

Entry Age

0 years to 55 years 

Premium payment Mode

Monthly, Half-Yearly, Yearly 

Salient Features

• This is a savings cum protection plan that helps you in planning your financial future
• ICICI Pru Lakshya also allows liquidity during the tenure of the policy
• You can opt for any of the following:
• Lump sum payout at maturity
• Income for a specific number of years
• Income for lifetime 
• You can avail of guaranteed benefits and bonuses

Plan Name

ICICI Pru LifeTime Classic

Sum Assured

Minimum : 1.25 X Single Premium

Maximum: 10 X Single Premium

Policy Tenure

5 to 30 years

Entry Age

0 to 65 years (Limited/ Regular Pay)

0 to 75 years (Single Pay)

Premium

Starts from INR 2,500 a month

Salient Features

• The plan offers you four portfolio strategies to choose from
• The plan covers you for life and also pays the prevailing fund value to the nominee, in case of your death
• Loyalty additions and Wealth Boosters further enhance the cover
• Enjoy up to 4 free switches during one policy year
• You also have the option to top up your investment

Plan Name

ICICI Pru Cash Advantage

Minimum Premium

5 year Pay: INR 30,000 per year

7 year Pay: INR 18,000 per year

10 year Pay: INR 12,000 per year

Entry Age

5 year Pay: 3 years to 60 years

7 year Pay: 1 year to 60 years

10 year Pay: 0 years to 60 years

Policy Term 

Depending on the plan option chosen the policy term can be 15 years/ 17 years/ 20 years

Premium Payment Term

• 5 years
• 7 years
• 10 years

Salient Features

• In case of your death during the policy term, your nominee would receive the eat benefit 
• When the premium payment term finishes, you immediately start receiving money at the chosen intervals
• At the end of the policy term, you receive the Guaranteed Maturity Benefit in the form of a lump sum amount
•  You may also receive bonuses if announced by the company
• Under Section 80C, you can save taxes as well

Plan Name

ICICI Pru Guaranteed Wealth Protector

Policy Tenure

10 years – 12 years

Entry Age

8 years to 70 years 

Maturity Age

18 years to 80 years

Premium Payment Term

Single Premium/ 5 years/ 7 years

Salient Features

• A unit linked life insurance plan that offers high returns
• You can avail the dual benefits of life cover as well as guaranteed capital returns
• The Assured Benefit safeguards your savings from the market fluctuations
• You can either pay the premium once or for a limited term of 5 or 7 years
• Wealth Boosters and Loyalty Additions add to your rewards 
• Under Section 80C and 10(10D) you can avail of the prevalent tax benefits 

Plan Name

ICICI Pru Guaranteed Income For Tomorrow (New)

Sum Assured

10 times the annualised premium

Policy Tenure

Premium Payment Term (PPT) + 1

PPTs: 5, 7 or 10 years

Entry Age

Minimum: 18 years MINUS Policy Term

Maximum: 60 years

Premium

• The plan comes with guarabbnteed benefits that can be either in:
• Lumpsum
• Regular income
• Premiums can be paid on a monthly, quarterly, semi-annually, and yearly basis.
• This policy makes you eligible for laon as well
• On the premiums that are paid and the benefits received, you can enjoy tax benefits 
• Minimum Premium:
• For Lump Sum option SP: INR 50,000
• Other than SP: INR 6,000 per annum
• For Income and Early income option: INR 30,000 per annum

Plan Name

ICICI Pru Smart Kid Solution

Minimum Sum Assured

Limited Pay: INR 45,000 per year

Regular Pay: 7 times the Annualised Premium

One Pay: 10 times the Annualised Premium

Policy Tenure

10 to 25 years

Entry Age

20 years to 54 years

Salient Features

• A unit-linked insurance plan, it offers savings along with protection 
• The plan offers high potential of earning good returns
• Customise your investment strategy as per the future financial need of your child
• In case of death of the insured, the child receoves a lump sum that can help in funding his education
• Staying invested for longer will fetch you better benefits
• From the sixth policy anniversary you can assess your money easily
• Avail up to INR 1.5 lakhs of deductions under Section 80C

Plan Name

ICICI Pru Heart/Cancer Protect Plan

Sum Assured

Minimum – INR 2 lakhs

Maximum:

• Cancer cover – INR 50 lakhs
• Heart cover – INR 25 lakhs

Policy Tenure

5 -40 years

Entry Age

18-65 years

Premium

Single or regular premiums. 

Premium would depend on the sum insured selected

Salient Features

• A single plan which can be taken to cover against heart related illnesses, cancer or both
• Lump sum claim payment depending on severity of the illness irrespective of actual medical costs
• The sum insured can be increased every year by choosing the Increasing Cover Benefit
• Daily hospital cash allowance of INR 5000 per day of hospitalisation
• 1% of the sum insured would be paid monthly for 5 years in case of major illnesses

Plan Name

ICICI Pru Smart Health Cover Plan

Sum Assured

Up to INR 25 lakhs

Policy Tenure

10-30 years

Entry Age

18-50 years

Premium

Regular premiums. The amount depends on the sum insured selected.

Salient Features

• A critical illness plan covering 34 major illnesses and treatments
• Lower premium rates for women
• Sum insured paid in case of diagnosis of a covered illness or on death of the insured
• Premium is waived off if the insured is disabled 

Plan Name

ICICI Pru Cash Advantage Plan

Sum Assured

7 or 10 times the annual premium

Policy Tenure

15,17,20 years

Entry Age

0-60 years

Premium

Limited premium. Minimum premium – INR 12,000

Salient Features

• A limited premium plan wherein regular pay-outs are promised after the premium payment term
• Guaranteed cash benefit is also paid during the pay-out term
• A guaranteed maturity benefit payable on maturity

Plan Name

ICICI Pru Savings Suraksha Plan

Sum Assured

7 or 10 times the annual premium

Policy Tenure

10-30 years

Entry Age

0-60 years

Premium

Limited or regular premiums. 

Minimum premium – INR 12,000

Salient Features

• The plan pays bonuses during the term
• Guaranteed Additions are added in the first five years
• Maturity benefit is promised 

Plan Name

ICICI Pru Assured Savings Insurance Plan 

Sum Assured

Depends on premium, age and term

Policy Tenure

10 or 15 years

Entry Age

3-60 years

Premium

Limited premiums. 

Minimum premium – INR 30,000

Salient Features

• Guaranteed additions are added every year
• The maturity benefit is guaranteed 

Plan Name

ICICI Pru Savings Suraksha

Sum Assured on death

7 or 10 times the annual premium

Policy Tenure

10 years to 30 years

Entry Age

Minimum: 0 years 

Maximum: 60 years

Maturity Age 

Minimum: 18 years 

Maximum: 70 years 

Minimum Annual Premium

Limited Pay 5 years: INR 30,000

Limited Pay 7 years: INR 18,000

Limited Pay 10 and 12 years: INR 12,000

Regular Pay: INR 12,000

Salient Features

• Covers you for the entire policy term
• When the policy matures, you receive the following (as applicable):
• Guaranteed Maturity Benefit
• Accrued Guaranteed Additions 
• Vested reversionary bonuses
• Terminal bonus
• Enjoy the freedom of flexibility in choosing the sum assured amount, policy tenure and the premium payment mode
• You can avail of tax benefits on the premiums that you pay as well the benefits received

Plan Name

ICICI Pru Future Perfect Plan

Sum Assured on Death

Minimum – INR 84,000

Maximum – No limit

Policy Tenure

10-30 years

Entry Age

91 days – 58 years

Premium

Limited premiums.

Minimum annual premium – INR 8,400

Salient Features

• The plan earns bonuses as well as guaranteed additions 
• Maturity benefit is guaranteed
• You have the freedom to customise the premium payment term, premium payment frequency as well as the sum assured as per your financial needs
• You can get life cover for the complete term of policy
• Avail of tax benefits on the premium that you pay as well as the benfits that are received

Plan Name

ICICI Pru Smart Couple Plan

Policy Tenure

One Pay

Limited Pay: 5/ 7/ 10 years

Regular Pay: 10 years to 25 years

Entry Age

Minimum: 20 years

Maximum: 54 years

Minimum Premium

One Pay: INR 48,000

Limited Pay: INR 45,000

Regular Pay: INR 45,000 per year

Salient Features

• A unit linked plan that combines the benefits of an investment plan along with insurance
• There are 11 market-linked fund options to choose from 
•  With the Smart Benefit option, in case of death of the insured all upcoming premiums are paid by the company
• As a life cover a lump sum amount is paid to the nominee 
• After the completion of 5 policy years, you are alowed to make partial withdrawals
• You can choose to make a single premium payment or for 5/ 7/ 10 years or for the completet term

Plan Name

ICICI Pru Easy Retirement Plan

Sum Assured

Depends on the premium paid

Policy Tenure

10-30 years

Entry Age

35-70 years

Premium

Limited or regular premium.
Minimum premium – INR 48,000

Salient Features

• A unit linked deferred annuity plan
• 5% of the fund value is added as pension boosters every 5 years from the 10th policy year
• The maturity and death benefits are assured

Plan Name

ICICI Pru Immediate Annuity Plan

Sum Assured

NA

Policy Tenure

NA

Entry Age

30 years onwards

Premium

Single premium

Salient Features

• An immediate annuity plan which pays lifelong income
• A variety of annuity options to choose from
• Joint life annuities can also be availed 

Plan Name

ICICI Pru Guaranteed Pension plan – Deferred Annuity

Policy Tenure

1-10 years

Entry Age

30-85 years 

Premium

INR 12,000 is the minimum annuity per annum according to the IRDAI guidelines and there is no maximum limit to it.

Salient Features

• The purchase price of the annuity can be increased to provide a higher amount to the policyholder.
• This is a single premium plan where you can defer the income up to 10 years
• Flexibility to receive annuity payments on a monthly, yearly, quarterly, or half-yearly basis
• The policyholders can receive additional annuity on higher purchase prices.
• Loan amount up to 80% of the surrender value can be availed under the deferred annuity option.
• Under Section 80CCC of the Income Tax Act, you can avail of tax benefits

Plan Name

ICICI Pru Saral Pension Plan

Sum Assured

The minimum purchase price will depend on the annuity rates.

The maximum purchase price is subject to the decisions made by the board.

Policy Tenure

Option 1 (Single Life Annuity): Until the death of the policyholder

Option 2 (Joint Life Annuity): Until the death of the last survivor.

Entry Age

40-80 years

Premium

Can be paid annually, half-annually, quarterly or monthly

The minimum annuity payout is INR 12,000 per annum.

Salient Features

• After paying once you get guaranteed regular income for a lifetime 
• Flexibility to receive payouts on a monthly, quarterly, half-yearly, or yearly basis.
• The purchase price shall be returned on account of the death of the policyholder.
• The plan offers loan as well
• There is the option of the Purchase Price being returned to the nominee
• Option to choose from a single-life or joint-life annuity plan.
• Additional annuity benefit on the higher purchase price.

Plan Name

ICICI Pru Guaranteed Pension Plan-Immediate Annuity

Sum Assured

The purchase price is variable according to the chosen option.

Policy Tenure

1 to 10 years

Entry Age

30-70 years

Premium

Can be paid monthly, quarterly, half-yearly, and annually.

The minimum annuity is INR 12,000 per annum.

Salient Features

• The plan comes with the feature of one-time payments and lifetime annuity payouts.
• Flexibility to receive payouts either on a monthly, quarterly, half-yearly, or yearly basis.
• Wide range of Immediate annuity options to choose from
• Options to choose for single life or joint life.
• Additional benefits on higher purchase prices.

Plan Name

ICICI Pru Easy Retirement SP

Policy Tenure

10, 15, 20, 25, and 30 years

Entry Age

35-80 years

Premium

Minimum Premium: INR 48,000

Maximum Premium: No Limit

Salient Features

• The plan offers regular payment after retirement with only a single time premium payment.
• Option to invest any available amount in the form of top-ups
• Option to choose from the annuity variants at the time of retirement
• The policyholder can go ahead with the plan according to his risk appetite.

Name of the insurance company

Claim Settlement Ratio

Aditya Birla Sun Life Insurance Company

97.54%

Aviva Life Insurance Company

97.53%

AEGON Life Insurance Company

98.01%

Bajaj Allianz Life Insurance Company

98.02%

Bharti AXA Life Insurance Company

97.35%

Canara HSBC OBC Life Insurance Company

98.12%

Edelweiss Tokio Life Insurance Company

83.44%

Exide Life Insurance Company

98.15%

Future Generali Life Insurance Company

95.28%

HDFC Standard Life Insurance Company

99.07%

IDBI Federal Life Insurance Company

96.47%

IndiaFirst Life Insurance Company

96.65%

LIC of India

93.45%

Max Life Insurance Company

94.48%

PNB MetLife Life Insurance Company

87.22%

Reliance Nippon Life Insurance Company

94.01%

Sahara Life Insurance Company

87.64%

Shriram Life Insurance Company

82.88%

SBI Life Insurance Company

89.74%

Star Union Dai-ichi Life Insurance Company

94.71%

TATA AIA Life Insurance Company

95.91%

Documents needed to process a Maturity Insurance Claim for ICICI Prudential Life Insurance Policy

• Claim Discharge Form

• Identity proof of the policyholder

Documents needed to process a Death Insurance Claim for ICICI Prudential Life Insurance Policy

• Claim intimation form

• Copy of the death certificate issued by the municipality

• Identity and address proof of the person making a death claim

• Cancelled cheque of the claimant

• Copy of medical records (If any)

• Copy of the medico legal cause of death certificate

• Medical attendant’s report or hospital certificate filled by the treating doctor

• Employer’s certificate for salaried individuals

• FIR/Inquest report/panchnama in case of accidental death

• Copy of driving license if insured was driving and died in an accident

Documents needed to process a Health Insurance Claim for ICICI Prudential Life Insurance Policy

• For critical illness plan and heart/cancer care plan

• Claim intimation form

• Certificate of the attending doctor

• Copies of all medical records and reports

• Original policy document

• Cancelled cheque

• For Hospital care plan

• Claim intimation form

• Certificate of the attending doctor

• Copies of all medical records and reports

• Pre-authorisation form

• Health check-up form

• Cancelled cheque

• For indemnity claims- Reimbursement

• Claim intimation form

• Original discharge summary provided by the hospital

• Doctor’s advice for hospitalization

• Original bills of medicine and the hospital

• Original investigative reports

• Health saving benefit form

• Pre-authorisation form

• Health check-up form

• Cancelled cheque

For raising claim related requirements

Within 15 days of receiving the claim intimation 

Claim settlement/claim rejection/claim repudiation if investigation is not required

Within 15 days of receiving the last document needed for claim processing.

Claim settlement/claim rejection/claim repudiation if investigation is required

In case of death claims: the investigation should be completed within 90 days of receiving the claim intimation. The claim should, thereafter, be settled within 30 days of completing the investigation

In case of health claims: the investigation should be completed within 30 days of receiving the last required document. The claim should, thereafter, be paid within 45 days of receiving the last required document.