ICICI Prudential Life Launches ‘iProtect Smart Her’ Term Plan With Lifetime Premium Discount for Women
Srinagar, Aug 13, KNT: ICICI Prudential Life Insurance has launched a new term insurance product designed specifically for women, combining life protection with health and wellness benefits and additional flexibility around important stages of their lives.
The product, ICICI Pru iProtect Smart Her, offers women a 15 per cent lifetime premium discount along with women-specific health management and wellness services.
One of the key features is a pregnancy break option, which allows eligible policyholders greater flexibility in managing premium commitments during pregnancy and an important transition in their lives.
The plan also includes a Child Education Care option under which the death benefit can be paid to the nominee as an income for 10 years. Under the increasing income payout option, the annual payout rises by 10 per cent every year for the 10-year period.
Vikas Gupta, Chief Product Officer, ICICI Prudential Life Insurance, said women’s financial planning requirements evolve through different stages of life and the new product had been designed around those changing needs.
The health and wellness component includes access to teleconsultations across multiple medical specialties, annual health check-ups, health risk assessments, wellness content, pharmacy and diagnostic discounts and other healthcare services.
According to the company, the overall package offers benefits valued at up to ₹92,100, including women-specific health and wellness benefits worth up to ₹25,000.
The company said the product is supported by its digital infrastructure, allowing customers to complete the purchase process digitally and access self-service facilities and claims support.
ICICI Prudential Life said its individual death claim settlement ratio stood at 99.3 per cent in Q1 FY2027, with an average turnaround time of one day for non-investigative individual death claims. [KNT]
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