ICICI Prudential Life launches iProtect Smart

ICICI Prudential Life Insurance Company Limited, has launched ICICI Pru iProtect Smart - a single product that combines benefits of life, health and accident insurance.


It offers cover against death, critical and terminal illness, accidental death and disability due to an accident, said a press release issued by the company.

Puneet Nanda, Executive Director, ICICI Prudential Life said: "Customers currently have to separately purchase life, accidental death and critical illness covers.

iProtect Smart is a single product that addresses all these needs at an affordable price. It combines the benefits of life and health insurance and is not just a typical term product."

 

Customers can also increase their cover at various milestones in their lives, for instance, marriage, child birth, etc. The premium for critical illness cover is guaranteed to remain the same throughout the term of the policy. There is also the option to take death benefit as monthly income over 10 years, the release added.

The monthly premium for a non-smoker 30 year old male, for a 30-year old policy is Rs 1,110 for death cover of Rs 50 lakh, plus accidental death cover of Rs 50 lakh plus critical illness cover of Rs 10 lakh.

In case of death death to accident, the benefit is doubled, that is, Rs 1 crore. If the policyholder utilises the critical illness cover, the death benefit reduces to that extent. In case of disability due to an accident, the future premia are waived off.