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Term Life Insurance · head to head

iProtect Smart Return of Premium vs Online Term Plan

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Quick verdict

  • iProtect Smart Return of Premium is better for insurer's claim payout record.
  • iProtect Smart Return of Premium is better for cover to an older age.
  • iProtect Smart Return of Premium is better for low minimum cover.

Computed from stored specifications, the published term life insurance scoring rules and recorded prices. Not an opinion.

Specifications side by side

Spec
iProtect Smart Return of Premium
Online Term Plan
Eligibility
Minimum entry age
18 years
18 years
Maximum entry age
55 years
55 years
Maximum maturity age
85 years
75 years
Policy term
20 to 40 years
10 to 57 years (Lump Sum option); 20 to 47 years (Monthly Income / Lump Sum + Monthly Income)
Minimum sum assured
₹10,00,000
₹25,00,000
Maximum sum assured
As per Board approved underwriting policy
Rs 10 crores
Plan
Plan options
Limited Pay, Regular Pay
Lump Sum, Monthly Income, Lump Sum + Monthly Income
Premium payment
Limited pay 5, 7, 10, 12 or 15 years, or pay up to age 60; Regular pay equal to policy term; annual, half-yearly or monthly
Regular: premium payment term equal to policy term; Yearly, Half Yearly, Quarterly, Monthly
Return of premium option
Yes
No
Death benefit payout
Lump sum (default), income over 5 years, or part lump sum and part income over 5 years
Lump Sum; Monthly Income of 1% of Sum Assured (till end of policy term or at least 10 years, whichever is later); Lump Sum + Monthly Income (50% of SA lump sum and 0.5% of SA monthly)
Riders
ICICI Pru Non-Linked Accidental Death and Disability Rider
—
Terminal illness benefit
—
Yes
Waiver of premium
—
Inbuilt: all future premiums (including optional benefits) waived on Total and Permanent Disability due to Accident
Premium
Sample annual premium
₹74,638
₹7,343
Sample premium is for
Brochure illustration: Mr. Kumar, 35-year-old healthy male non-smoker, Sum Assured Rs 1 crore, policy term 40 years, premium payment term 10 years (limited pay), annual premium Rs 74,638 (total Rs 7,46,380); 'Taxes (if any) will be charged extra, as per applicable rates.' NOTE: different profile (age 35, 40-year term, 10-pay); no age-30 regular-pay figure published.
30 year old Male, 30 year term, Rs 1 Crore cover, Lump Sum Option, No Optional Cover, preferred non-smoker category, per annum ('premiums which start as low as'). Tax treatment not stated.
Insurer
Death claims settled (insurer)
99.31%
98.31%
Claims figures for
FY 2024-25: individual death claims paid out of claims decided and pending, by number, computed from IRDAI Handbook on Indian Insurance Statistics (Table 15)
FY 2024-25: individual death claims paid out of claims decided and pending, by number, computed from IRDAI Handbook on Indian Insurance Statistics (Table 15)
IRDAI UIN
105N195V02
128N072V01

A tick marks the better value where the category rules say higher (or lower) is better. Text values are shown without a winner. Ties have no winner.

Pros and cons

iProtect Smart Return of Premium

  • Pro: Return-of-premium option available
  • Con: Lower maximum entry age than 86% of the 29 term life insurance plans on Comparezi that state it (age 55)

Online Term Plan

  • Con: Cover ends earlier than 85% of the 27 term life insurance plans on Comparezi that state it (age 75)
  • Con: Lower maximum entry age than 86% of the 29 term life insurance plans on Comparezi that state it (age 55)
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