ICICI Pru Life’s Online Term Cover – I Protect


Dear friends, Earlier it was Aegon Religare’s I- Term, the lone player in online Term cover Market but now it has a companion from the big daddy of private life insurers in India – ICICI PRU Life. The product is named as I-Protect.

Product at a glance –

Minimum /Maximum Age at entry – 20 / 65 years

Policy Term – 10, 15, 20, 25, 30 years

Maximum age at policy expiry – 75 Years (Age completed Birthday)

Minimum Premium – 2000 Rs. (Excluding Service Tax & Education cess)

Accidental Death Benefit (Available with IProtectOption II only) – Equal to basic sum assured with maximum limit to 50L

Premium Payment term – Regular pay

Mode of Premimum Payment – Yearly only

Tax benefit – Prem. paid is eligible for Tax benefit under Section 80C of Indian Income Tax Act, 1961

Available Options – Option I Basic Life cover, Option II Basic Life Cover With Accident Death Benefit Rider

Death benefit – Option I – Basic Life Cover

Option II – Basic Life Cover + Accident Rider Sum  Assured equal to Basic Sum assured or 50L whichever is lower

Instant Life Cover – Policy ‘ll be issued immediately after realization of the prem. amount by the Ins. Co. for Non Medical Cases.

Maturity Benefit – Being a pure Vanilla Term Cover, there is no maturity benefit.

Offline Purchase – Yes allowed with a slightly higher prem. (To include the commission of Agent/Broker)

My take – I-Protect is a real competitor for Aegon Religare’s I-Term. Actually it’s better than I-Term. How here it goes –

Max. Term – 30Y in I-Protect for 25Y in I- Term

Accident Rider – Yes for I-Protect no for I- Term

Offline Purchase – Yes for I-Protect no for I-Term

Maturity Age – 75Y for I-Protect  where as it’s 65Y for I-Term

The major plus point with I-Protect, ICICI Pru Life has offices, agents, brokers, bankassurance channels in every nook & corner of India, Hence purchasing the cover online of offline is very easy as compare to Aegon Religare’s limited presence.

In my view, if you are planning to purchase your first Term cover or want to increase one, go for this one.

For More info about the product click here.



3 Responses to ICICI Pru Life’s Online Term Cover – I Protect

  1. sanjay dhabarde says:

    i want to buy pollicy for my daughter can you pl sugest plan which will given return at the age of 20 years of mu daughter.

    • ashalanshu says:

      Dear Sanjay, first of all please cover your own life with a sufficient sum assured Term cover & then start investing for your d’ter in a variety of instruments based upon your choice. FDs, RDs, MFs, PPF. Normally I do not prefer insurance + investment combo products as these products neither provide full insurance not full investment.



  2. Jig says:

    I have asked your email id but on JI forum as site now allowing , you didnt put your id but suggest me to check your profile. i couldnt find your email id on forum too. I need your help to discuss my financial plan. I am asking you to contact personnaly as i dont wana disclose my complete financial details on forum.
    I am asking you specially as i have seen your responsed to the needed one and that also like completely unbiased.
    Great work you are doing and sharing knowledge and educate the people.

    Surprize to see a chemical engineer doing such fantastic financial planning work

    keep it up



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