At the maturity of iProtect Smart, the term insurance plan from ICICI Prulife, the entire premium paid by the policyholder is refunded to them.
The plan offers guaranteed matur ity benefit to its policyholder. This feature implies that the policy benefits double in case of the death of the insured.
The iProtect Smart plan offers a wider range of coverage plans such as basic life cover, accident/disability/critical illness cover and income protection cover. The plan also has an inbuilt premium benefit waiver cover, which provides cover against disability or critical illness.
Additionally, the plan also offers optional riders that provide extra protection to the policyholder such as Accidental death and disability/ disability income benefit riders that provide financial protection in case of death or disability due to an accident.
The policyholder can also make premium payments in a flexible manner. This could be done either as a one-time lump sum payment or as regular monthly payments. The policyholder can even switch the premium payment mode if needed.
To sum up, iProtect Smart is a comprehensive term insurance plan that ensures a refund of the entire premium paid at the maturity of the policy. The policy also offers a wide range of coverage as well as an array of optional riders that help the policyholder enjoy additional protection at a very low cost.