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ICICI Pru IProtect Smart Term Plan Review | ICICI Term Life Insurance Review | ICICI
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ICICI Term Insurance
ICICI Prudential Protect-n-Gain
ICICI Pru Protect N Gain offers the dual benefit of insurance and inve ...Read More
🛡️ IRDAI Approved
⭐ 4.6/5 · 932 reviews
📊 213.2% solvency ratio
✅ 99.33%% claim settlement ratio
🌐 506+ pan-India
About ICICI Prudential Protect-n-Gain
A quick read on what this ICICI Term Insurance term plan covers and why it might be a fit for you.
ICICI Prudential Protect n Gain plan, stays true to its tagline, ''Growth Bhi Protection Bhi'' which means it provides dual benefits of protection and wealth creation. ICICI Protect N Gain is a ULIP designed to combine long-term wealth creation with robust life insurance coverage. The plan protects the insured and their family members with life insurance coverage of up to 100 times the annual premium and grows the wealth through market-linked returns.
This is a protection cum ULIP plan that has a maturity booster benefit and the policyholder can receive a monthly payout through a Systematic Withdrawal Plan(SWP).
Here are some key benefits of this plan:
- 18 fund options
- 4 diffrent stratergies
- Partial withdrawal
- Flexible premium payment term
- Tax benefit
- Unlimited free switches
Eligibility Criteria for ICICI Prudential Protect-n-Gain
Entry age
Minimum Age - 18 years Maximum Age - 55 years
Maturity age
Maximum Maturity Age - 85 years
Policy term
Minimum policy term - 30 years, Maximum policy term - 40 years
Sum assured
Base sum assured: 5 Lakhs to no limit.
Policy loan
Policy loan is not available under ICICI protect n gain plan
Payment Modes
Annual, half-yearly, & monthly
Pros & cons
A quick honest summary — the strengths and the trade-offs.
Pros
- 18 Different funds
- 4 Investment strategies
- Top-up option
Cons
- No policy Loan
- No guaranteed returns
- Suicide cover after 12 month
Video reviews
Walkthroughs from the PolicyX team — pros, cons, real claim experiences and who should buy.
ICICI Pru iProtect Smart Term Insurance Plan
ICICI Prudential Term Insurance
Who can buy this plan
Eligibility criteria pulled straight from the policy wording.
Minimum entry age-18 years
Maximum entry age- 65 years
Minimum sum assured- 5 Lac
Maximum sum assured- No limit
Maximum Policy term-30 years
Riders Associated with ICICI Prudential Protect-n-Gain
You can add the following riders to your ICICI Prudential Protect-n-Gain:
ICICI Pru Accidental Death Benefit Rider
With ICICI Pru Accidental Death Benefit Rider, you can cover yourself with a maximum sum assured of 2 crore against any unfortunate accident that causes death.
ICICI Pru Critical Illness Rider
With ICICI Pru Critical Illness Rider, you can protect yourself with a maximum sum assured of 1 crore against 34 critical illnesses.
Features of ICICI Prudential Protect-n-Gain
Key features that make ICICI Prudential Protect-n-Gain stand out.
Vast Fund Options
The plan offers 18 fund options to invest with the best returns. The fund options are available across balanced, equity, and debt funds depending upon the risk the policyholder is ready to take.
Portfolio Strategy
The plan offers 4 portfolio strategy options and the strategy options are: Fixed Portfolio Strategy, Target Asset Allocation Strategy, Trigger Portfolio Strategy, Lifestyle-Based Portfolio Strategy.
Partial Withdrawal
The policy allows the insured to withdraw the spatial amount after the end of the lock-in period (i.e. 5 Years). The maximum fund that can be withdrawn must not exceed 20% of the total fund value.
Benefits of ICICI Prudential Protect-n-Gain
Here are the key benefits of the ICICI Prudential Protect-n-Gain.
Death Benefit
The plan provides protection by paying death benefit equal to: 105% of the sum assured, fund value + top-up fund value (if any), sum assured + top-up (if any).
Maturity Benefit
On survival of the policy term, the plan offers maturity benefit and the amount which is equal to fund value + top up fund value.
Tax Benefit
If a person buys this plan they are eligible for the tax benefits under 80C and 10 (10D) of the Income Tax Act 1961.
What are the exclusions of ICICI Pru Protect N Gain Plan
Here is the list of exclusions associated with the plan:
- Death occurred due to a pandemic is not covered by the company.
- Death caused due to any type of adventure sports.
- Death by consumption of any type of drugs and alcohol.
- Death due to any pre-existing disease that isn't mentioned during the start of the policy.
- If the policyholder commits suicide within the first 12 months of purchasing the policy, then no death benefits are paid to their nominee. Either premiums paid to date or the surrender value of the policy whichever is higher is paid to them.
Conclusion
ICICI Pru Protect N Gain Life Term Plan is a comprehensive term plan that gives the dual benefit of insurance and investment in same. It offers 4 diffrent investment strategies along with 18 diffrent fund option. For more info related to this plan you can contact PolicyX.com, our certified insurance advisors works 24/7 to solve every possible query of yours.
Conclusion
ICICI Pru Protect N Gain Life Term Plan is a comprehensive term plan that gives the dual benefit of
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ICICI Pru Protect N Gain Plan: FAQs
The 7 most-asked questions about ICICI Prudential Protect-n-Gain, answered.
Partial withdrawals are allowed only if the policyholder is 18 years of age.
The plan offers protection up to 10 times of annualized premium and provides an opportunity to increase the protection by 100 times.
ICICI Pru Protect N Gain offers the dual benefit of insurance and investment in the same policy.
The maximum maturity age in protect and gain is 90 years.
The ICICI Pru Protect N Gain ULIP offers life, accidental death/disability cover, market-linked returns, unlimited switches, flexible fund options, partial withdrawals, maturity boosters, SWPs, and tax benefits.
It is a life insurance plan that combines protection and savings, and offers the potential for wealth growth through death benefits and bonuses for the nominee.
The ICICI Pru Protect N Gain ULIP offers life, disability/accidental death cover, market-linked returns (e.g., ₹1-2.5 crore at 8-12%), a 20% maturity booster, fund choice, repayment of charges, tax benefits, and a lump sum maturity.
Written and reviewed by
PolicyX content is researched in-house and reviewed by an IRDAI-certified insurance specialist before publication.
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