ICICI Term Insurance Plan - Compare Plans, Premiums & Buy

ICICI Life Term Insurance Plans

ICICI Life Insurance is one of India's leading life insurance providers. The company offers a wide range of ICICI term insurance plans specifically designed to suit the varied needs of its customers. These plans provide financial help as a death benefit to the nominee in case of the policyholder's untimely death during the policy term. Some important benefits of the ICICI Term plan include increased life coverage, coverage against 34 critical illnesses, and tax savings. ICICI Term Insurance plans also offer flexible premium payment options, high claim settlement ratios, and the convenience of online purchase.

Term Insurance Premium Calculator

Our term life insurance calculator in india can help you calculate the following:

Benefits of ICICI Life Term Insurance

Below mentioned are the benefits of ICICI Term insurance plan in 2026:

Life Cover for Your Family: If you pass away during the policy term, your nominee gets the full sum assured. You can choose how they receive it: as a lump sum, as a monthly income, as a mix of both, or as a monthly income that increases every year.
₹3 Lakh Instant Payout: For policies with a cover of ₹1 crore or more, your nominee can get up to ₹3 lakh within one working day of registering the claim. This helps the family handle urgent expenses while the full claim is being processed. The benefit applies after the policy has been active for 3 years.
Strong Claim Settlement Record: As per ICICI Life's public disclosures ICICI Life settled 99.34% of individual death claims in FY 2025–26, The ratio has stayed above 99% for three years straight.
Terminal Illness Cover at No Extra Cost: If you're diagnosed with a terminal illness, the insurer pays out the life cover while you're still alive, so you can use it for treatment or to settle your affairs..
12-Month Premium Break: After 5 policy years, you can take a premium holiday for up to 12 months if money gets tight. Your cover stays active throughout. The skipped premium is paid along with the next year's premium.
Smart Exit Benefit: Once you turn 60 and the policy has completed 25 years, you can choose to exit the plan and get back all the base premiums you've paid (excluding taxes and rider premiums). This option isn't available in the last 5 years of the policy.
Get Your Premiums Back at Maturity: A regular term plan doesn't pay anything if you outlive the policy. If you'd like your money back, you can choose term insurance with a return-of-premium plan, which refunds the premiums you paid at the end of the term.
Add-On Riders for Extra Protection: You can add riders for accidental death and disability, critical illness (covering 60 illnesses, including cancer), and waiver of premium to strengthen your base cover.
Free Health and Wellness Services: Unlimited online consultations with doctors, nutritionists, psychologists, free annual health check-up for 61 parameters, discounts on OPD, medicines, lab tests, gym memberships – all through the ICICI Life app. Women also have special consultations and pregnancy support. These services are worth up to ₹92,100 for women and ₹67,100 for men.
Lower Premiums for Salaried and Online Buyers: Salaried buyers can save up to 15% in the first year, and buying online can get you up to 5% off for life. Use the ICICI term insurance calculator to check your premium.
Tax Benefits: Premiums are deductible up to ₹1.5 lakh a year under Section 123 of the Income Tax Act, 2025 (earlier Section 80C), if you're under the old tax regime. The death benefit your nominee receives is fully tax-free under Section 11, read with Schedule II

List of ICICI Term Insurance Plans

Below is the list of term insurance plans offered by ICICI Life

Plan Name	Entry Age	Sum Assured	Policy Term	Best Suited For
ICICI Life iProtect Smart Plus	18 to 65 years	Minimum ₹50 lakh, Maximum: No upper limit	5 years to 85 years less age at entry	Suitable for most buyers who want a flexible plan with high cover and add-on riders.
ICICI Life iProtect Smart Her	18 to 65 years (55 for some limited pay options)	Minimum ₹50 lakh Maximum: No upper limit	5 years to 85 years less age at entry	It's a women-focused option offered under iProtect Smart Plus, not a separate plan.
ICICI Life iProtect Super	18 to 85 years minus age at entry	Minimum:₹50 lakh Maximum: ₹2 crore	20 years to 85 years less age at entry	Self-employed people or gig workers, since ICICI says income proof is not mandatory for this plan.
ICICI Life iProtect Care	18 to 65 years	Minimum: ₹50 lakh, Maximum: As per underwriting	5 years to 85 years less age at entry	People who want long cover, since the policy term can run up to 85 years minus entry age.
ICICI Life iProtect Smart Return of Premium	20 to 40 years	NA	5 years to 40 years	People who want their premiums back if they outlive the policy.
ICICI Life Saral Jeevan Bima	18 to 65 years	Minimum: ₹5 lakh	20 to 40 years	Standard term insurance plan for first-time or lower-income buyers who need simple, smaller cover.

Features of ICICI Term Plans

Let us take a look at the features of ICICI term plans

Low Entry Age: The minimum term insurance age limit for ICICI Life term plans is 18 years old. This allows a large number of people to secure the future of their loved ones right from the age of 18 years old.
Customizable Protection: You can decide a policy term duration of your ICICI Term Insurance Plans according to your requirement so that your family is secured throughout the policy period. Policy term can be anywhere between 5 to 40 years.
Flexible Premium Payment Options: You can choose to pay the premium in a single lump sum, for the regular term, or for a limited term in monthly, quarterly, yearly, or half-yearly instalments. You can easily calculate the premium of the ICICI term plan using the term insurance calculator.

Adjustable Sum Assured: Life stage benefit, which is offered under many term plans, allows you to raise the sum assured of your ICICI term plan when there is a change in your life stages.
Liability Protection: With ICICI Term Insurance Plans, in case you are not there, your family may not have to worry about the burden of your debts (car loan, home loan etc.) which you take them during your lifetime.

Who Should Buy ICICI Life Term Plans?

The following individuals should consider buying an ICICI term plan to ensure the financial stability of their loved ones:

Who should buy	How would ICICI term plans benefit you?
Young Professionals	ICICI term plans offer long-term coverage at lower premiums when you start early, helping you lock in affordable ICICI life cover.
Taxpayers	ICICI Life term insurance is eligible for tax benefits under Section 123 and Section 11 (read with Schedule II) of the Income Tax Act, 2025 (earlier Sections 80C and 10(10D)).
Newly Married Individuals	Secure your spouse’s future with an ICICI Term Insurance Plans ensuring financial security in the unfortunate event.
Parents with Young Children	ICICI term insurance plans helps secure your child’s education and lifestyle needs through adequate life cover.
Working Women	ICICI term insurance plans offer women specific benefits and critical illness cover for complete protection.
Individuals with Loans/Debts	ICICI term plans can help pay off outstanding debts like home or personal loans, so your family isn’t burdened financially.

ICICI Term Plans for Women

Women usually live longer than men, so insurers see them as a lower risk. That's why ICICI Life charges women less for the same term cover. On top of the lower price, the plans come with a few extra benefits that are worth knowing about before you buy.

15% Off for Life: Women get a flat 15% discount on the base premium compared to men. It isn't just for the first year. It stays for as long as the policy runs.
Cover for Breast and Cervical Cancer: You can add a critical illness rider to your plan. If you're diagnosed with a covered illness like breast cancer, cervical cancer, stroke or kidney failure, you get a lump sum to spend on treatment or anything else you need.
Free Health Services: You get unlimited doctor consultations, a yearly health check-up and discounts on medicines and lab tests through the ICICI Life app. Women also get pregnancy support and special consultations. All of this is worth up to ₹92,100.
Raise Your Cover When Life Changes: Got married or had a baby? You can increase your cover without buying a new policy.
Get Your Premiums Back: With the return of premium option, you get back all the base premiums you paid if you outlive the policy.
Homemakers and Self-Employed Women Can Buy Too: You don't need a salary to get covered. Homemakers can buy a term plan, and self-employed women can go for iProtect Super, which doesn't ask for income documents.

How To Buy ICICI Life Term Insurance Plans?

You can buy ICICI term insurance plans by following the steps below:

Step 1: Visit the term insurance form of Policybazaar
Step 2: Fill in the required details regarding your name, date of birth, gender, and contact number
Step 3: Click on ‘View Plans’ to see the list of available ICICI Term Insurance Plans
Step 4: Answer the questions about your annual income, educational background, occupation type, and smoking tobacco habits
Step 5: Select the most suitable ICICI term plan and proceed to pay

Documents Required to Buy ICICI Life Term Plan

Here is a list of documents you need to buy ICICI term insurance in India

Policyholder’s recent photograph
Copy of PAN Card
Address Proof like Aadhaar Card, Passport, or Driving License
Income Proof like
- Salaried: Last 3 month’s salary slips, last 6 month’s bank statements
- Self-employed: Last 3 year’s ITR with calculated annual income

Points to Consider Before Buying ICICI Life Term Insurance

Let us take a look at the points you need to consider before buying the most suitable ICICI term plan

Claim Settlement Ratio (CSR): The term insurance claim settlement ratio is the percentage of claims an insurer settles out of the total claims it receives in a financial year. This represents the company’s reliability in settling your family’s future claims, and thus, you should always go with an insurer with high CSR. ICICI Life has a CSR of 99.34% in FY 2025–26.
Solvency Ratio: You should check the solvency ratio of the insurance company before buying the most suitable ICICI term insurance plans because it shows the company’s capability of settling claims in the long run. As per IRDAI, every company needs to maintain a solvency ratio of 150% as a mandate. ICICI Life has a solvency ratio of 227.3% as of March 2026.
Customer Reviews – Before you go ahead with the ICICI Term plan, you should always review customer reviews to better understand how the company handles its customers and their satisfaction.
Sum Assured: Calculate your annual income, monthly expenses, current loans and future inflation and decide on the right sum assured.
Available Riders: To prevent future confusion when making a claim on a rider, you should look at the list of available term insurance riders, including inclusions and exclusions.
Policy Benefits: Read the policy document before you buy to know exactly what your plan covers. Many ICICI term insurance plans offer additional benefits, such as some plans offer the option to increase your cover when you get married or have a child, and your family can choose to get the claim amount in monthly parts instead of all at once.

Is ICICI Life Term Insurance Good?

Yes, ICICI Life Term Insurance is a good choice if you want to secure your loved ones' future in your absence. With a claim settlement ratio of 99.34% in FY 2025–26, the company offers several term plans to meet the different insurance needs of individuals. Along with this, ICICI's term plans provide critical illness cover for 60 listed conditions, flexible payout options, and free health benefits worth ₹92,100 for women and ₹67,100 for men, making it one of the most reliable insurance companies in India.

Why Choose ICICI Life with Policybazaar?

ICICI Life Term Insurance - FAQs

Q: How to pay a premium of ICICI Term Insurance Plans?
Ans: To continue the policy coverage of the ICICI term insurance plans, you need to pay the premiums regularly before the end of the grace period. You can pay your ICICI Life Insurance premium through these 11 methods:
- Net Banking
- Credit card
- Bill desk
- Bank Website Debit Card + ATM PIN
- Debit Card
- Bill junction
- Infinity
- E-collect
- Rupay Debit Card
- Skypark dropbox
- MINC Drop Box
Q: How can I check the policy status for ICICI Life term insurance plans?
Ans: You can check the policy status of ICICI term insurance online, or opt for SMS and e-mail reminder facility
You can check ICICI Life Insurance Policy Status Online as follows.
- Open the ICICI Life Insurance website in your browser
- Now you will be directed to a new window. On the top right side of this new page, you can see the customer login section
- Enter user ID and password to navigate to checking the ICICI term insurance policy status
Only registered users can access the portal, so you need to sign up for the service if you haven’t yet
Q: What is the policy renewal process for ICICI Life term insurance plans?
Ans: Online Policy Renewal facility is available to all ICICI term plan customers. The process is as follows;
- Step 1: Login into the website with your policy number and date of birth
- Step 2: Select the ICICI term insurance policy due for renewal payment. Click Pay Renewal Premium Now
- Step 3: Choose payment option- NEFT, Credit Card/Debit Card
- Step 4: Authenticate and confirm your payment details for the ICICI term insurance and print out the payment receipt
Q: What is the company’s process to settle the claim for ICICI Life term insurance plans?
Ans: Step 1: Inform the company about the claim through any of the following ways -
- Call the ClaimCare
- Online Submission
- Visit the Company Branch
- Send SMS or Email Claim
- Directly Mail to the insurer
Step 2: Form Evaluation
The Claim Care department examines the claim and if any essential documents are missing, the team immediately notifies the ICICI term insurance nominee of the same. The team keeps the claimant up-to-date on the process via Emails and Letters
Step 3: Claims Processing
On receipt of all the essential documents of ICICI term insurance, the Claims department processes the application as soon as possible if no investigation is needed to check the claim made
For quick access to claim funds, ICICI Life Insurance transfer funds directly into the beneficiary’s bank account
Upon completion of these documents, submit them to your nearest ICICI branch
Q: What is the policy cancellation process for ICICI Life term insurance plans?

Ans: You need to keep your ICICI term insurance policy for a minimum of 3 years before you can cancel it. You need to fill a surrender form at any of the ICICI Life branches and submit your ICICI term insurance policy documents. The cancellation process will take 30 days to complete and the surrender value funds will be directly transferred to your bank account
If you signed up for a single premium ICICI term insurance policy, you can cancel it after the first policy year
Q. What are 4 types of term life insurance?
Ans. The 4 types of term life insurance available in India are as follows:
- Regular term insurance
- Term Return of Premium Plans
- 100% Return of Premium at No-cost
- Whole life insurance policy
Q. What is 1 crore term insurance?

Ans. A 1 crore term insurance is a regular term insurance that provides a sum assured of Rs. 1 crore to the nominee in case of the policyholder’s unfortunate death during the policy term. You can easily compare and buy term plans of 1 crore online through Policybazaar.
Q. What is the claim ratio of ICICI term life insurance?

Ans. ICICI Life term insurance had a claim settlement ratio of 99.34% in the financial year 2025–26. This means that the company settled most of the term insurance claims received and thus is a reliable insurer to purchase term insurance from.

ICICI Life Term Insurance Plans

Benefits of ICICI Life Term Insurance

List of ICICI Term Insurance Plans

Features of ICICI Term Plans

Who Should Buy ICICI Life Term Plans?

ICICI Term Plans for Women

How To Buy ICICI Life Term Insurance Plans?

Documents Required to Buy ICICI Life Term Plan

Points to Consider Before Buying ICICI Life Term Insurance

Is ICICI Life Term Insurance Good?

ICICI Life Term Insurance - FAQs

Q: How to pay a premium of ICICI Term Insurance Plans?

Q: How can I check the policy status for ICICI Life term insurance plans?

Q: What is the policy renewal process for ICICI Life term insurance plans?

Q: What is the company’s process to settle the claim for ICICI Life term insurance plans?

Q: What is the policy cancellation process for ICICI Life term insurance plans?

Q. What are 4 types of term life insurance?

Q. What is 1 crore term insurance?

Q. What is the claim ratio of ICICI term life insurance?

Term Insurance Calculators

Life Insurers

Term Insurers

Choose Term Insurance Plan as per you need

ICICI Life Term Insurance Plans Reviews & Ratings