Flexi Term Plan vs iProtect Smart Plus

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Up to limits defined by the company's underwriting policies

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Life, Life Plus, Life Rebalancing

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Single pay, Regular pay, Limited pay (exact limited-pay terms not reliably extracted); modes single, yearly, half-yearly, monthly

No

No

Lumpsum; Monthly installments / payout; Increasing installments / payout; Lumpsum and monthly installments / payout

Lump sum; Income (10% of death benefit a year for 10 years, paid monthly); Lump sum plus income; Increasing income (monthly income for 10 years rising 10% p.a. simple). Life Rebalancing: lump sum only

ACKO Life Accidental Death Benefit Rider (UIN: 164B004V01), ACKO Life Critical Illness Benefit Rider (UIN: 164B006V01), ACKO Life Accidental Total Permanent Disability Benefit Rider (UIN: 164B008V01)

ICICI Pru Non-linked Health Protect Rider (critical illness)

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Yes

With additional covers (riders): remaining premiums waived on diagnosis of a critical illness or severe disability

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Product page table: healthy, non-smoker, salaried male, age 30, life cover Rs 1 crore, policy term 35 years, regular pay, lumpsum payout option, annual premium: Rs 11,342 first year, Rs 12,962 from 2nd year onwards. 'Taxes (if any) will be charged extra, as per applicable rates' (GST excluded). Variant not named in the table. NOTE: 35-year term (cover to 65), not 30 years; no 30-year figure published.

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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)