ICICI Prudential Insurance plans

iProtect Smart Joint Life Insurance

Key features of iProtect Smart Joint Life Insurance

  • Cover for your wife and for you in the same plan
  • Pay consolidated premium for both of you at the same time
  • Get protected against Critical Illness (Optional): Protect your wife and yourself against 34 critical illnesses, which also includes protection against diseases like breast cancer and Alzheimer's which are prevalent among women and have high risk to life along with high treatment costs.
  • Premium guarantee for critical illness for the entire policy term up to 30 years.
  • Get protected against accidental death (Optional): Protect your wife and yourself against accidental death with additional Accident Death Benefit.
  • Life stage protection - Additional cover at importantlife milestones (birth / adoption of child)
  • Complete security under the MWP Act.

ICICI Prudential Life insurance review

ICICI Prudential Life
Branches In India
517
Entry Age Minimum/Maximum (Years) - Term Plans
18/65
Sum Assured Minimum / Maximum - Term Plans
50 lacs / 100 cr
Policy Term Minimum / Maximum (Years) - Terms Plans
5years/ 85years and also we have whole life option
Solvency Ratio *
217% (2.17)
Death Claims Settled from 2002 till now
₹ 95.48 billion
Number of Lives Covered**
2133682
Claims Settlement Ratio ***
97.90%
Claim Settlement Time
1.4 days
13 months Persistency Ratio
87.10%
* - As per IRDAI data 2020-21 - The solvency ratio of an insurance company is the size of its capital relative to all the risk it has taken, which is all liabilities subtracted from total assets. In other words, solvency is a measurement of how much the company has in assets versus how much it owes
** - as per L-25 Public Disclosure of Insurance Companies for 2020-21  |  *** - Claims Settlement Ratio = Claims Settled in the year / Claims Reported in the year - as per IRDAI data published

Eligibility conditions of iProtect Smart Joint Life Insurance

Premium Payment Options Premium Payment Term Minimum/Maximum Policy Term Minimum/Maximum age at entry
Single Pay* Single 5 years / 20 years 18/65
Regular Pay Equal to policy term 5 years / 85 years less age at entry 18/65
Whole Life (99 years less age at entry)
Limited Pay 5, 7, PT- 5 years 10 years / 85 years less age at entry 18/55
10 years 15 years / 85 years less age at entry
Whole Life (99 years less age at entry)
60 years less age at entry PPT+ 5 years / 85 years less age at entry 18/55
Whole Life (99 years less age at entry)
Minimum Premium 2,400 excluding applicable taxes such as Goods and Services tax and/or cesses
Accidental Death Benefit Minimum: 1,00,000
Maximum: Equal to Sum Assured chosen by you, subject to a maximum limit as per the Board Approved Underwriting Policy Accidental death Benefit term will be equal to the policy term or (80-Age at entry), whichever is lower
Accelerated Critical Illness (ACI) Benefit Minimum: 1,00,000
Maximum: As per the Board Approved Underwriting Policy. ACI Benefit is not available for Single Pay policies (ACI) Benefit ACI Benefit term would be equal to policy term or 30 years or (75-Age at entry), whichever is lower
Minimum Sum Assured Subject to the minimum premium
Maximum Sum Assured Unlimited
Mode of Premium Payment Single, Yearly, Half-yearly and Monthly

*Max age at maturity for single pay is 75 years

Brochure

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Policy wordings

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CIN: U66000KA2018PTC117713 | IRDAI Web aggregator License Code Number: IRDAI / INT / WBA /53/ 2018, Valid till 07/08/2025