ICICI Prudential launches innovative iProtect

Shillong, Jan 9: ICICI Prudential Life Insurance has launched an innovative term insurance product ‘ICICI Pru iProtect Return of Premium’, offering life-stage based cover wherein the quantum of life cover is automatically adjusted based on the customer’s life stages.

The ICICI Pru iProtect Return of Premium offers return of 105% of all premiums paid on survival, besides providing cover against 64 critical illnesses, one of the highest in the industry. It offers two variants — Life Stage Cover and Level Cover.


The life-stage cover is an innovative feature that auto adjusts the sum assured or life cover based on the life-stage of customers. It enables customers to increase their life cover when it matters the most as responsibilities grow in the initial stages. Also, it automatically reduces the life cover as responsibilities reduce in the later life stages. Importantly, the premium remains constant throughout the tenure of the policy.

This is ideally suited for customers who seek adequate life cover across their life stages.

The level cover variant is ideal for individuals looking for a term insurance plan that offers a survival benefit along with a fixed death benefit.

Amit Palta, chief distribution officer, ICICI Prudential Life Insurance, said, “Our innovative protection product promises adequate protection at all life stages with fixed premiums and return of 105% of all premiums. We believe this product addresses questions customers have in their minds on survival benefits. Our approach to product development is to embed customer’s needs as product features.”

With rising cases of lifestyle-related ailments such as cancer and heart disorder it is essential to have a critical illness benefit. Therefore, ICICI Pru iProtect Return of Premium offers customers the option to take cover against 64 critical illnesses, one of the highest in the industry.

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