Overview of iProtect Super
ICICI Prudential iProtect Super is a modern term insurance plan designed for flexible, long-term financial protection. It offers life cover with a premium break feature and built-in terminal illness coverage. It provides multiple premium payment modes and suits both salaried and self-employed individuals, including those without formal income proofs, such as gig workers, small business owners, and freelancers. The plan’s underwriting considers alternative financial indicators like credit score, digital spending, and investment portfolio details, enabling wider accessibility.
Experts' Review of iProtect Super
Written by Monish Vora
Chief Editor
ICICI Prudential iProtect Super stands out for its flexibility and inclusivity, making it ideal for self-employed and salaried individuals who may lack formal income documentation. The plan uses innovative underwriting criteria like credit scores, digital spends, and financial surrogates such as car insurance IDV and investment portfolios to assess eligibility, widening access for gig workers and small business owners. Though comprehensive, the plan does not split into separate options but offers all features under one umbrella, simplifying choice.
Coverage is available up to age 85, with death benefits payable as a lump sum or regular income. The plan includes the Smart Exit option, enabling policyholders to exit after 25 years and receive all base premiums paid. Built-in terminal illness cover enhances protection, while multiple premium modes accommodate diverse budgets.
Pros
While not groundbreaking, the features provided meet the basic requirements.
ICICI Prudential has a solid track record with a good Claim settlement ratio, high annual claims paid, and high business volumes.
Provides an exit option with full premium refund and includes coverage for terminal illness.
Cons
Premiums are relatively high compared to other term plans.
The plan lacks critical illness and premium waiver add-ons, offers no cover increase option, and provides limited coverage.
ICICI Prudential
Key Insights
Founded
2000
ICICI Prudential was established 26 years ago and has built strong credibility over time, backed by its long-standing presence in the market.
Claims Experience
99.3% CSR, calculated as a 3-year average
ICICI Prudential settles 99.3% of all claims it receives demonstrating strong credibility.
Complaints
8 complaints per 10,000 claims registered
ICICI Prudential maintains a low volume of complaints, reflecting strong customer satisfaction and effective service.
Amount Settled
95.94% of total claim amount settled
ICICI Prudential demonstrates excellent claim payout efficiency, settling over 95.94% of the total claim amount filed, reflecting strong financial reliability.
The aforementioned ratios have been averaged over three years (FY24-FY26)
Features of iProtect Super
Zero Cost Option
Some insurers will return all your premiums if you forego your policy before maturity, during a period specified by the insurer. Meaning you get all your premiums back, while also being protected under the term plan during this time. And iProtect Super extends this option.
Special Exit Value
Some insurance companies will return all your premiums if you surrender your policy before maturity, but this can only be possible if you have a policy tenure above a certain number of years and maintain consistent renewals for a minimum period specified by the insurer. This means you get all your premiums back, while being protected under the term plan during this time. iProtect Super extends this option.
Terminal Illness
Certain policies will disburse the entire cover amount the moment you are diagnosed with a terminal illness. So you can still get the money when alive and use it any way you wish. iProtect Super gives you the option to receive the entire or a percentage of sum assured upon diagnosis of a terminal illness.
Accidental Death Benefit
Some policies offer you the option of adding extra protection for accidental deaths. And while we recommend customers choose a comprehensive cover without worrying about the specifics of death, iProtect Super offers accidental death benefit nonetheless.
Customisable
This Rider pays out a lump sum in case of accidental total and permanent disability or death due to an accident.
Cover Continuance Benefit
Certain term insurance plans offer uninterrupted policy continuation even during financial difficulty, but this only kicks in after you've held the policy for a certain number of years. This benefit allows you to defer premium payments for up to a year while your full death benefit remains in effect, free from any late fees or extra interest. Most plans offer this benefit in periodic intervals. iProtect Super offers this benefit.
Add-ons of iProtect Super
Accidental death and disability rider
This Rider pays out a lump sum in case of accidental total and permanent disability or death due to an accident.
Exclusions in iProtect Super
Conditions or treatments that the policy clearly says it will not cover.
Death by suicide within the first policy year is not covered.
Deaths arising from participation in criminal or unlawful activities are excluded.
If the nominee is found responsible for the insured’s death, the claim will not be payable.
If a death claim is proven to be fraudulent, the insurer will not pay out the benefit.
Disclaimer: For illustration purposes only - exact terms are in the policy wording.
What's missing in iProtect Super
No Top-Up Option
No Waiver of Premium
No option to increase your cover with inflation
No option to decrease your cover over time
You can't recover your premiums after policy matures
No Critical Illness Benefit
No option to increase cover at life milestones
No Insta Payout Benefit
Reviews for iProtect Super
H
Harish Shetty
Signed up for this plan online process super smooth zyada calls nahi and premium break wali feature kaafi kaam aayi Worth it Honestly ok so far
M
Minal F. Bhatia
Picked iProtect Super discounts for salaried non smoker made it cheaper and premium break exit feature is genuinely helpful Good value ok felt
A
Aparna Bajaj
Took this plan discounts for salaried non smoker made it cheaper and terminal illness cover adds real peace of mind Overall happy Honestly so
K
Kajal Verma
Went with iProtect Super terminal illness cover se family ko peace mila but age limit thoda kam feel hua still fine Still fine Honestly simple
J
Jatin Prasad
Opted for iProtect Super terminal illness cover adds real peace of mind and discounts for salaried non smoker made it cheaper Feels reliable
Frequently Asked Questions
What is the ICICI Prudential iProtect Super Plan?
What are the benefits of the ICICI Prudential iProtect Super Plan?
What are the various riders customers can opt for with the ICICI Prudential iProtect Super Plan?
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