ICICI Term Insurance Plan Review 2025

ICICI Term Insurance Plan: Overview

ICICI Prudential Life Insurance stands out for its financial strength, claim reliability, and flexible protection options. Its flagship iProtect Smart plan offers comprehensive cover with add-ons like critical illness and accidental death benefits.

With a 98.03% claim settlement ratio and a 2.05x solvency ratio, ICICI Prudential combines trust with stability. Its ₹19,774 crore business volume highlights its scale and customer confidence.

That said, the plans come with a few gaps. There’s no Accidental Total and Permanent Disability (ATPD) rider or waiver of premium option. Still, for those prioritizing reliability over rock-bottom pricing, it remains a solid choice.

Introduction

In a market crowded with multiple ULIPs, ICICI Prudential Life Insurance keeps it simple. With smart moves like expanding group insurance, shifting to safer non-linked plans, and partnering with SBM Bank India through bancassurance, it continues to strengthen its base. This blog breaks down ICICI Prudential’s performance, features, and premiums, helping you decide if its flagship iProtect series is the right pick for your family’s financial security.

Thinking about getting an ICICI Term Insurance Plan? Don’t pick a policy blindly. Talk to a Ditto advisor! We’ll help you understand the fine print, compare plans, and find what truly fits your needs.

ICICI Term Insurance Plans

1) ICICI Pru iProtect Smart Plus
A new-age term insurance plan designed for complete financial security with flexible coverage, health protection, and optional benefits.

Key Features:

• Entry Age: 18–65 years
• Maximum Maturity Age: 85 years - 99 years (Whole Life option)
• Policy Term: 5–81 years, depending on the coverage option chosen
• Premium Payment Options: Regular, Limited, or Single Pay
• In-built Benefits: Terminal Illness Cover (included with all options) and a Life Stage Cover that lets you increase your cover after major life events (like marriage or childbirth), Top Up Option, and Zero Cost Option.
• Optional Benefits:
  • Accidental Death Benefit (ADB) – Enhances payout in case of accidental death.
  • Accelerated Critical Illness (ACI) Benefit – Pays a lump sum on diagnosis of covered critical illnesses
• Payout Flexibility: Choose between a lump sum, a monthly income, or a combination
• Tax Benefits: Available under Sections 80C and 10(10D) of the Income Tax Act

Ideal For:
Those seeking customisable, long-term protection that goes beyond basic life cover — ideal for working professionals, young families, and self-employed individuals who want to combine life, health, and accident benefits in one plan.

2) ICICI Pru Saral Jeevan Bima
A simple, no-frills term insurance plan designed to provide essential financial protection for your family. You can read all about the Saraj Jeevan Bima Yojana here.

3) ICICI Pru iProtect Smart – Return of Premium
A protection-cum-savings term plan that ensures your loved ones are financially secure while refunding your premiums if you outlive the policy term. All the features of this plan are the same as the features of ICICI Prudential iProtect Smart Plus (the first plan mentioned in the blog), except that this plan also includes an ROP option. It is ideal for cautious planners seeking both protection and value.

How to Buy an ICICI Term Insurance Plan?

You can purchase an ICICI Term Insurance Plan through their official website.  Alternatively, you can book a call with us at Ditto to connect with an IRDAI-certified advisor who will guide you through the purchase process.

Documents Required to Buy and Claim ICICI Term Insurance Plans

The documents required to buy an ICICI Term Insurance Plan are the same as those required to buy any other term insurance plan. Get all details in this article.

How Can You Make an ICICI Term Insurance Plan Claim?

Note: If you bought your term plan through Ditto, contact us here.

How Can I Check Policy Status for ICICI Term Insurance Plan?

You can check your ICICI Prudential term insurance policy status by following these steps:

• Log in to your account on the official ICICI Prudential Life website.
• Use the “Track Application” or “Login” option on the home page with your registered mobile number or policy number.

• Alternatively, you can check the status via the ICICI Prudential Life mobile app or by contacting customer care at 1860 2660 (Mon–Sat, 10 AM–7 PM).

What is the Policy Renewal Process for ICICI Term Insurance Plan?

You can renew your ICICI Prudential term insurance policy easily through:

• The “Pay Premium” section on the website.
• The ICICI Prudential Life app or via auto-debit (ECS/NACH) for recurring payments. Once renewed, you’ll receive a confirmation email and SMS with updated policy details.

Note: These are second-year premiums for standard profiles with no additional riders. Actual premiums may vary based on health, occupation, and lifestyle factors.

Why Choose Ditto for Term Insurance?

At Ditto, we’ve assisted over 8,00,000 customers with choosing the right insurance policy. Why do customers like Ganesh below love us?

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To reap the benefits of our many IRDAI-certified advisors, you can book a call now. 

Conclusion

ICICI Prudential’s term insurance plans, particularly the iProtect Smart series, offer dependable protection at competitive premiums. The plans combine strong financial stability with flexible coverage options, which makes them a solid pick for long-term security.

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