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Buy online and get a discount of 0.7% for Regular & Limited Pay and 0.5% on Single Pay on each years premium

Term Plan with
Return of Premium Calculator  

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Know how limited pay works
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Here’s what a 32-year-old healthy male with a life cover of ₹1 crore and policy term of 53 years would pay1
Limited Pay
Monthly premium : ₹9,251
Total premium : ₹5,55,060
Saved7,05,492
Savings 55.96%
Regular Pay
Monthly premium : ₹1,982
Total premium : ₹12,60,552
Savings 0%

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How Return of Premium works? Play Video

Understand Return of premium option in 30 seconds
Life Cover remains constant throughout the policy term
105%
ROP3
₹17.49 L p.a
Age   35
60
75
Premium: ₹41,644 p.a.
Premium: ₹41,644 p.a.
The above premium is online, without tax annual premium for a 35 year old healthy male, regular pay with cover ceasing at age 75, life cover of ₹1 crore, death benefit payout option as lump sum.
Understand Income option in 30 seconds

Life cover reduces to the extent of income payouts subject to minimum cover of 10 times annual premium

Life cover reduces to the extent of income payouts subject to
minimum cover of 10 times annual premium

Age   35
60
75
₹10,000 p.m (₹1.2L p.a) as income.
Premium: ₹55,764 p.a
Premium: ₹55,764 p.a

On survival, get monthly income in the range of ₹10,000 to ₹30,000 (₹1.2L to ₹3.6L p.a.) from the policy anniversary after the age of 60 till the end of policy term.

The above premium is online, without tax annual premium for a 35 year old healthy male, pay till 60, with cover ceasing at age 75, life cover of ₹1 crore, death benefit payout option as lump sum.
More value for money
Life cover adapts to your life goals. Get a higher cover during the crucial stages of your life.
Understand Early RoP with life stage
cover in 30 seconds
Understand Early RoP with life stage cover in 30 seconds
Up till 55 years
(Subjected to maximum twice the basic sum assured)

Starting from second policy year, 5% of Basic Sum Assured gets added every policy anniversary, till the policy anniversary after the Life Assured attains age 55.

60-end of policy term

Sum assured becomes 50% of base sum assured as you have met most of your financial responsibilities

105%
ROP3
₹14.51 L p.a
Life Cover: Increases 5% p.a
Age   35
55
60
75
Premium: ₹69,107 p.a
The above premium is online, without tax annual premium for a 35 year old healthy male, 20 pay, with cover ceasing at age 75, life cover of ₹1 crore, death benefit payout option as lump sum.
Understand RoP at maturity with life stage cover in
30 seconds
Understand RoP at maturity with life stage cover in 30 seconds
Up till 55 years
(Subjected to maximum twice the basic sum assured)

Starting from second policy year, 5% of Basic Sum Assured gets added every policy anniversary, till the policy anniversary after the Life Assured attains age 55.

60-end of policy term

Sum assured becomes 50% of base sum assured as you have met most of your financial responsibilities

Life Cover: Increases 5% p.a
105%
ROP3
₹11.15 L p.a
Age   35
55
60
75
Premium: ₹42,491 p.a
The above premium is online, without tax annual premium for a 35 year old healthy male, pay till 60, with cover ceasing at age 75, life cover of ₹1 crore, death benefit payout option as lump sum.

Quick Guide to your plan

Return of Premium

Return of Premium Calculator

Quick Guide to your plan

Return of Premium
Return of Premium Calculator
What is ICICI Pru iProtect Return of Premium plan?
ICICI Pru iProtect Return of Premium offers all the benefits of a term insurance plan along with return of premiums paid. It is an ideal choice for people looking for life insurance cover with assured return of premiums. It gives you the option to choose from two covers – life stage cover where the life cover changes as per changing life stages and level cover where life cover is constant throughout the policy term. You get all the premiums back either on completion of the policy term or before the completion of policy term depending up on the plan you choose.
What is level cover?
The life cover that you select at the inception of the plan remains same throughout the policy term. Level cover is available with 'Return of Premium' plan option

Please note: For “income Benefit”, post age 60, the life cover reduces in proportion to the income paid out as a survival benefit.”
What is life stage cover?
The plan knows that an individual has varied degrees of responsibilities during various stages of life and therefore adapts with your changing life-stage. Life-stage cover is available with “Return of Premium with Life-stage cover” and “Early Return of Premium with Life-stage cover” plan options only
How much life cover do I need?
The life cover you need depends on your current annual income. We recommend that a life cover equivalent to 10-15 times^' your annual income is sufficient to provide for a safe future for your family

If budget is a problem, you can go for a monthly premium payment option over a yearly commitment. However, it is important to have a sufficient life cover so that your family’s financial security is not compromised
What is limited pay option**?
With the limited pay option, you can pay premiums for a specific pre-agreed period of time (5, 7, 10, 12 or 15 years) and enjoy the life cover for the whole policy duration, irrespective of the premium payment period
Which payout option should I choose?
ICICI Pru iProtect Return of Premium has three payout options:

  1. Lump sum - The entire life cover is payable as a lump sum (single payment)
  2. Income - 20% of the benefit amount is payable every year for 5 years. This will be paid in equal monthly instalments in advance at the rate of 1.66667% of Death Benefit Amount. The beneficiary can also advance the first year’s income as lump sum. The monthly income will start from the subsequent month for 4 years at the rate of 1.34% of the Death Benefit Amount. In case this option is chosen, discount factor of 5% will be applicable on all premiums corresponding to the chosen Plan Option
  3. Lump sum and Income - The percentage of the Sum Assured to be paid out as lump sum is chosen at inception. The balance Sum Assured will be paid out in equal monthly instalments in advance at the rate of 1.66667% per month over 5 years. In case this option is chosen, discount factor of 5% will be applicable on premiums corresponding to the chosen Plan Option in the same proportion as that of the Income chosen.
What is Term Insurance Return of Premium Calculator?
A Term insurance plan that returns the premiums paid to the policyholder is known as a Term insurance return on premium (TROP) plan.

A term insurance return of premium calculator will help you understand the amount of money you can receive according to the various option available for you to chose, that will best suit your needs.

The calculator will show how the options work and how they will affect your returns. Sum assured, premium payment term, policy term, choice and frequency of payout and additional riders that you select will have an impact on the actual amount that you receive. A Term insurance return on premium (TROP) plan returns all the premiums paid, either as a lump sum or regular income at the end of the policy term or during the policy term while your life cover continues for the rest of the policy duration.
How does a Term Insurance Return of Premium Calculator Work?
A Term insurance return of premium calculator takes into account various factors and scenarios and will then show you the amount that you will receive as a lump sum or in parts during the policy term or at the end of it, depending on the option you have chosen.

Factors that affect this are
  • Age of the applicant
  • Gender and Smoking habits
  • Duration of the premium payment term selected (5, 7 or 10 years)
  • Duration of the Return of premium policy term
  • The sum assured selected
  • Any additional riders selected

When you enter the above factors in the Term Insurance Return of Premium Calculator, it will then show you the payout frequency and actual amounts that you will receive, depending on the choices you have made.
What factors determine the premium amount?
The premium for any insurance policy depends on a few factors that determine the amount. The sum assured that you wish to get is one of the most important primary factors. The higher the sum assured the higher is the premium of the policy. Other factors that affect the premium amount are age, gender, smoking habits, duration of the policy term and the choice of the premium payment term.

Keep in mind premium payment term is different from the Policy term. To make it simpler to understand, let us take an example. You can opt for a policy that will provide a cover for 20 years, yet you can choose to pay the premium for the policy for a limited number of years, say 5, 7 or 10 years.
What is the difference between Term Insurance and Term Insurance Return of Premium?
A Term insurance plan is one where you pay premiums for a life cover and any added riders like critical illness cover, accidental death benefit cover. The benefits of a term plan are paid or applicable only in the event of options selected or death.

For example, Mr A takes buys a Term insurance of ₹1 crore with critical illness cover and accidental death benefits for a period of 30 years.

In the event Mr A is diagnosed with a critical illness during this term, he will receive the critical illness amount, he has opted for. In the unfortunate event of death from the critical illness, the nominee of Mr A will receive the entire Term insurance cover of ₹1 crore.

In the event, that Mr A survives the term of 30 years without having any critical illness, he would not be applicable to receive death or other benefits from this plan and the policy will end.

A term insurance return of premium plan not only offers the life cover it has assured but also returns the premium amount, back to the policyholder or the nominee, depending on the conditions chosen at inception and applicable at maturity or end of the policy.
Steps to use the Term Insurance Return of Premium Calculator
To use the Term Insurance Return of Premium Calculator:
  • Start by entering basic details like your gender, age, annual income, smoking habits and your contact details.
  • Enter the details asked for in the suitability calculator that comes on next. This section will ask for details like age and income range, life stage, Financial and Family goal that you are planning for, the time in which you wish to achieve the goal, your risk profile, your premium payment preference and the sum assured that you would like to have
  • Select the plan option from the options available
  • Select how long you wish to pay the premium for
  • Select the frequency of your premium payments
  • Select the duration of your term insurance policy
  • Select the duration of your Return of Premium plan
  • Choose the Benefits and options from the riders available that suit you best
  • Enter the amounts you wish to have in the riders if you choose any
  • Select how you would like to receive the payout
  • Click to calculate

Why choose ICICI Prudential Life?

Why choose ICICI Prudential Life?

5.68 Cr%
Lives covered as
on March 31, 2021
₹1.73 Lakh Cr`
Benefits paid till
March 31, 2021
₹2.14 Lakh Cr18
Assets under
management as on
March 31, 2021
30 Day Return Policy
30 Day Return
Policy
If not satisfied, return
(free look) the policy and
get your money back
If not satisfied, return (free look) the policy and get your money back

Frequently Asked Questions

The customer can choose to take the death benefit in the form of:

  • Lump sum Option – the entire benefit amount is payable as a lump sum

  • Income Option – 20% of the benefit amount is payable every year for 5 years. This will be paid in equal monthly instalments in advance at the rate of 1.66667% of Death Benefit Amount. The beneficiary can also advance the first year’s income as lump sum. The monthly income will start from the subsequent month for 4 years at the rate of 1.34% of the Death Benefit Amount.

  • Lump sum and Income Option – The percentage of the Sum Assured to be paid out as lump sum is chosen at inception. The balance Sum Assured will be paid out in equal monthly instalments in advance at the rate of 1.66667% per month over 5 years.


For ‘Income’ Option and ‘Lump sum and Income’ Option, the Claimant as the case may be, will have the option to convert the outstanding monthly income into lump sum pay out and the policy will terminate after the lump sum payout and all rights, benefits and interest shall be extinguished. The lump sum amount will be the present value calculated at a discount rate of 2% p.a.
The CI Benefit offers coverage against 64 critical illnesses, of which 60 are major critical illnesses and 4 are minor critical illnesses. 100% of the CI Sum Assured is payable on first occurrence of any of the covered major critical illnesses. Also, 4 minor conditions: Angioplasty, Early stage Cancer (Carcinoma-in-situ), Brain Aneurysm Surgery and Small Bowel Transplant are covered and 25% of CI Sum Insured or ₹500,000 whichever is lower, is payable on first occurrence of any of these four illnesses.
CI Benefit is available for Single Pay and Limited Pay with maximum benefit term of 15 years. For regular pay, the maximum term under CI benefit is 40 years subject to maximum cover ceasing age of 85 years
Accidental Death Benefit: No waiting period.

Waiting Period for Critical Illness Benefit

  1. For Angioplasty, Carcinoma-in-situ, Brain Aneurysm Surgery and Small Bowel Transplant an initial waiting period of 180 days applies from the date of commencement of risk or policy revival date where the due premium has not been paid for more than 180 days.

  2. For conditions other than Angioplasty, Carcinoma-in-situ, Brain Aneurysm Surgery and Small Bowel Transplant, there is a waiting period of 90 days from the date of commencement of risk, or policy revival date where the due premium has not been paid for more than 90 days.

  3. In case the insured event happens during this period, no benefit shall be payable. However, 100% of the Critical Illness premiums will be refunded and the CI benefit will terminate.

  4. No waiting period applies for Critical Illness claims arising solely due to an accident.
  • For death benefit, for other than POS policies:
    suicide is the only exclusion. In case of death due to suicide within 12 months from the date of commencement of risk under the policy or from the date of revival of the policy, as applicable, the Claimant shall be entitled to at least 80% of the total premiums paid till the date of death or the surrender value available as on the date of death whichever is higher, provided the policy is in force. The Policy will terminate on making such a payment and all rights, benefits and interests under the Policy will stand extinguished.

  • For POS policies, there’s an additional exclusion of waiting period:
    Death benefit shall not apply or be payable in respect of any death during the first 90 days from the Date of Commencement of Risk

    • In case of a death claim during the waiting period, the Company will refund all premiums paid (including modal loading but excluding Goods and Services Tax and Cesses, if any) and the policy will terminate with immediate effect.

    • No waiting period applies where death is due to accident.

  • For Accidental Death Benefit & Critical Illness Benefit:
    please refer to the exclusion list provided in the brochure.
If a minor CI claim has been paid out, the CI Sum Assured and premium will be proportionately reduced. Post a major CI claim has been paid out, CI benefit will terminate and premiums corresponding to CI will not be required to be paid.
  • For Limited and Single pay - Yes, the CI premium is fixed as CI benefit term can be for maximum 15 years.

  • For regular pay - No, the CI premium may be subject to revision post 15 years, after which they can be revised for every block of three years, with prior approval of IRDAI.
Once the CI benefit term is over, then premiums corresponding to CI benefit will not be required to be paid. The customer will have to continue paying for all other benefits to avail other benefits.

1 Life cover is the death benefit payable on death of the Life Assured during the policy term.
For ‘Return of Premium’ plan option, Death Benefit will be the highest of a) Sum Assured on Death b) Basic Sum Assured to be paid on death c) (Applicable only for limited pay and regular pay) 105% of the Total Premiums Paid till the date of death. Where Sum Assured on Death is 7 X Annualised Premium for regular pay and limited pay and 1.25 X Single Premium for single pay;
For ‘Income Benefit’ plan option, Death Benefit will be the highest of a) Sum Assured on Death b) 105% of the Total premiums Paid till the date of death c) Basic Sum Assured to be paid on death, less total Survival Benefit paid till date of death. Where, Sum Assured on Death is 10 X Annualised Premium.
For ‘Return of Premium with Life-stage cover’ & ‘Early Return of Premium with Life-stage cover’ plan options, Death Benefit will be the highest of a) Sum Assured on Death b) 105% of the Total premiums paid till the date of death c) Absolute amount assured to be paid on death Where Sum Assured on Death is 7 X Annualised Premium.

2 Life-stage cover: In case of Life-stage cover, Absolute amount assured to be paid on death will be based on age of the Life Assured as provided below.

  1. In the first policy year, Absolute amount assured to be paid on death will be the same as Basic Sum Assured as chosen by You at inception.
  2. From the second policy year till the policy anniversary after the Life Assured attains age 55, 5% of Basic Sum Assured gets added on every policy anniversary to the Basic Sum Assured. This amount cumulatively shall be the Absolute amount assured to be paid on death. The Absolute amount assured to be paid on death remains constant till the next policy anniversary. In case the Absolute amount assured to be paid on death becomes twice the Basic Sum Assured during this period of increment, it stays constant at that level, till the policy anniversary after the Life Assured attains age of 56 years.
  3. On the policy anniversary after the Life Assured attains 56 years of age, the Absolute amount assured to be paid on death shall revert back to Basic SA. This will continue till the policy anniversary after the Life Assured attains 60 years of age.
  4. On the policy anniversary after the Life Assured attains 60 years of age, the absolute amount assured to be paid on death shall be 50% of Basic Sum Assured and continues at the same level till end of the policy term.

3 Return of Premium: 'Return of Premium' is available under three of the plan options namely- “Return of Premium"; “Return of Premium with Life-stage cover" and “Early return of Premium with Life-stage cover" and refers to 105% of total of all premiums received, excluding premiums for optional benefits i.e. Accidental Death Benefit, Critical Illness Benefit, any extra premium, any rider premium and taxes, if any. The fourth plan option "Income Benefit" provides regular monthly income from the policy anniversary after the Life Assured attains age 60 as a survival benefit till the end of the policy term.

4 Critical Illness Benefit: CI Benefit is an additional optional benefit chosen at inception and is available with ‘Life and health’ and ‘All in One’ benefit options. The CI Sum Assured is paid as a lump sum upon the Life Assured being diagnosed on first occurrence of any of the covered 60 major Critical Illnesses within CI Benefit term. 25% of the CI Sum Assured or ₹500,000.00 whichever is lower is paid as a lump sum upon the Life Assured being diagnosed on occurrence of any of the covered 4 minor Critical Illnesses within CI Benefit term. CI Benefit is available for Single Pay and Limited Pay and is lower of (15 years, policy term). For regular pay, the CI benefit term will be lower of (policy term, 40 years) subject to maximum cover ceasing age of 85 years. CI Benefit can be less than or equal to the Basic Sum Assured chosen by You at inception for Return of Premium Plan and Income Benefit Plan. CI Benefit can be less than or equal to the 50% of the Basic Sum Assured chosen at inception for Return of Premium with Life-stage Cover Plan and Early Return of Premium with Life-stage Cover Plan. CI Benefit is a pure risk benefit and does not have Survival or Maturity Benefit. Premiums paid corresponding to CI Benefit shall be excluded from Survival or Maturity Benefit.

5 Accidental Death Benefit: ADB Benefit is an additional optional benefit and is available with ‘Life Plus’ and ‘All in One’ benefit options. In the event of the Life Assured’s death due to an Accident, ADB will be payable as a lump sum. ADB is available for the policy term or till the age of 80 years, whichever is lower. For Return of Premium Plan and Income Benefit Plan, ADB can be less than or equal to the Basic Sum Assured as per plan option. For Return of Premium with Life-stage Cover Plan and Early Return of Premium with Life-stage Cover Plan, ADB can be less than or equal to the 50% of the Basic Sum Assured chosen at inception. ADB is a pure risk benefit and does not have Survival or Maturity Benefit. Premiums paid corresponding to ADB shall be excluded from Survival or Maturity Benefit.

6 Tax benefits may be available as per prevailing tax laws. Tax benefits under the policy are subject to prevailing conditions and provisions of the Income Tax Act, 1961. Goods and Services Tax and Cesses, if any, will be charged extra as per applicable rates. The tax laws are subject to amendments made thereto from time to time. Please consult your tax advisor for details, before acting on above.

18 Data regarding AUM is as per Annual Report 2020-2021. Please refer to the same for further details

** Limited pay: †aThe percentage saving computed is purely in terms of premium paid over the term (Difference between 10 years Limited and Regular pay) of the policy and does not account for time & other factors that may happen during this period. It is one of the many features that the product offers and you can opt for it based on your individual needs. The percentage saving is for ICICI Pru iProtect Smart - Life Option for ₹50 lakh life cover for a 20 year old healthy Male for a policy term of 65 years with lumpsum payout option. The annual premium for 10 years Limited pay option will be ₹29,865 & the annual premium for Regular Pay option will be ₹11,928. The total payable premium through the term of the policy for 10 years Limited pay option with annual premium will be ₹2,98,650 & for Regular pay option with annual premium will be ₹7,75,320. The premium amounts are inclusive of taxes.
Calculation of 85 years is based on the existing life years, that is, 85 years of age minus your current age.

% 56.8 mn lives covered across our individuals and group customers as per ICICI Prudential Annual Report 2020-21. Please refer to Public Disclosure section on ICICI Prudential website for more details.

`As per Financial Statements (Schedule 4- Benefits paid (Gross))of the company, benefits paid since inception up to March 31, 2021.

^'How much life cover do you need? Source: Economic Times, https://economictimes.indiatimes.com/wealth/insure/how-much-life-cover-do-you-need/articleshow/53037661.cms

The discount is applicable only on ICICI Pru iProtect Return of Premium policies purchased online.

?-The premium of ₹2630 p.m. has been approximately calculated for a 30 year old healthy male life with monthly mode of payment and premiums paid regularly for the policy term of 40 years with 'Return of Premium' plan option and Life Cover of ₹1 crore. The above mentioned premium is online premium and is inclusive of taxes.

-/Premium back refers to the total of all premiums received, excluding premiums for optional benefits i.e. Accidental Death Benefit, Critical Illness Benefit, any extra premium, any rider premium and taxes, if any.

8Our life insurance policies cover death due to COVID-19, subject to applicable terms and conditions of policy contract and extant regulatory framework.

*For Early return of premium with life stage cover option, on survival, return of premium is 105% of total premiums paid on the policy anniversary after the life assured turns 60 or 70 years old, as chosen by you at inception

ICICI Pru iProtect Return of Premium UIN: 105N186V01. W/II/4593/2021-22

© ICICI Prudential Life Insurance Co. Ltd. All rights reserved. Registered with Insurance Regulatory & Development Authority of India (IRDAI) as Life Insurance Company. Regn. No. 105. CIN: L66010MH2000PLC127837.
Reg. Off.: ICICI PruLife Towers, 1089 Appasaheb Marathe Marg, Prabhadevi, Mumbai 400025. Tel.: 40391600. Customer helpline number – 1860 266 7766. Timings – 10:00 A.M. to 7:00 P.M., Monday to Saturday (except national holidays). Member of the Life Insurance Council. For more details on the risk factors, term and conditions please read the product brochure carefully before concluding the sale. Trade Logo displayed above belongs to ICICI Bank Ltd & Prudential IP services Ltd and used by ICICI Prudential Life Insurance Company Ltd under license.

BEWARE OF SUSPICIOUS PHONE CALLS AND FICTITIOUS/FRAUDULENT OFFERS
IRDAI is not involved in activities like selling insurance policies, announcing bonus or investment of premiums. Public receiving such phone calls are requested to lodge apolice complaint.