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ICICI Prudential iProtect Smart Return of Premium is designed for buyers who want life protection during the policy term and a return-of-premium benefit if they survive until maturity, subject to the policy terms. The exact refund calculation and eligible premiums must be confirmed in the policy wording.
Get 100% of total premiums paid back on survival till maturity, along with life cover. Taxes, rider premiums and any extra premium are excluded.
The return-of-premium structure may appeal to buyers who value a maturity benefit alongside life protection. Compare its premium against a regular term plan and verify exactly which premiums are refundable, how maturity is calculated and what happens if the policy ends early.
ICICI Prudential Life
Key Insights
Founded
2001
ICICI Prudential Life was established 25 years ago and has built strong credibility over time, backed by its long-standing presence in the market.
Claims Experience
99.34% CSR, calculated as a 3-year average
ICICI Prudential Life settles 99.34% of all claims it receives, demonstrating strong credibility.
Contact Details
1800 2660
Headquarters: ICICI Prulife Towers, 1089, Appasaheb Marathe Marg, Prabhadevi, Mumbai, Maharashtra 400025, India
Provides a death benefit to the nominee if the life assured dies during the policy term.
The payable amount is governed by the policy schedule and wording.
Under the applicable option, eligible policyholders who survive until maturity receive 100% of total base-product premiums paid.
Extra premiums, rider premiums and taxes may be excluded; the policy must meet its conditions.
The plan may offer return of premium as a lump sum or regular income, depending on the selected option.
Check the selected variant and current brochure for available payout choices.
Offers policy-term and premium-payment choices within the product rules.
Availability depends on eligibility and the selected variant.
Premiums and benefits may qualify for tax treatment under prevailing law.
Tax treatment depends on applicable law and individual circumstances.
Optional additional protection for eligible accidental death and qualifying accidental disability.
Additional premium and rider conditions apply.
Optional benefit for covered critical illnesses meeting the applicable diagnosis criteria.
Covered illnesses, benefit limits and exclusions depend on the selected option or rider.
Conditions or treatments that the policy clearly says it will not cover.
Insurer
ICICI Prudential Life plans and claim process
It is a life insurance plan that provides life cover during the policy term and a maturity benefit if the life assured survives until maturity, subject to the policy terms.
The insurer states that 100% of total premiums paid under the base product are returned on maturity. Extra premiums, rider premiums and applicable taxes are excluded from this calculation.
The insurer lists lump sum, income, and lump sum plus income payout options. The chosen option and applicable terms determine how the benefit is paid.
Disclaimer: Premium amounts are indicative and may vary based on age, health, and plan selected. Claim settlement ratios are from IRDAI Annual Reports. Finzony is not an insurance broker or agent. Verify all details on the official ICICI Prudential Life website before purchasing.
Official Website
iciciprulife.com
Visit the official ICICI Prudential Life website for plan brochures, premium quotes and policy services.
The aforementioned ratios have been averaged over three years (FY24-FY26)
The insurer lists accidental death and accidental total and permanent disability protection through an optional rider, subject to the rider terms and eligibility.
No. The published maturity-benefit description excludes extra premiums, optional rider premiums and taxes from the stated return-of-premium calculation. Refer to the policy wording for the precise calculation.
Tax treatment depends on the applicable tax laws and eligibility conditions. Consult a qualified tax adviser and review the insurer’s current disclosures.