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Term Life Insurance · head to head

Super Term Plan vs iProtect Smart Return of Premium

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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 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
Super Term Plan
iProtect Smart Return of Premium
Eligibility
Minimum entry age
18 years
18 years
Maximum entry age
65 years
55 years
Maximum maturity age
85 years
85 years
Policy term
Regular Pay: 10 to 55 years; Limited Pay: PPT + 5 years to 55 years
20 to 40 years
Minimum sum assured
₹25,00,000
₹10,00,000
Maximum sum assured
No Limit (subject to Board Approved Underwriting Policy)
As per Board approved underwriting policy
Plan
Plan options
Level Cover, Increasing Cover, Level Cover with Return of Premium
Limited Pay, Regular Pay
Premium payment
Limited Pay (Plan Option 1 & 2: 5, 7, 10, 12, 15, 20 years and To age 60; Plan Option 3: 5, 10 & 15 years), Regular Pay; Annual / Semi-Annual / Quarterly / Monthly
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
Return of premium option
Yes
Yes
Death benefit payout
Lumpsum; Monthly Income for 10/15/20 years; Partly as Lumpsum and Partly as Monthly Income for 10/15/20 years
Lump sum (default), income over 5 years, or part lump sum and part income over 5 years
Riders
ABSLI Accidental Death and Disability Rider (UIN: 109B018V03), ABSLI Critical Illness Rider (UIN: 109B019V03), ABSLI Surgical Care Rider (UIN: 109B015V03), ABSLI Hospital Care Rider (UIN: 109B016V03), ABSLI Accidental Death Benefit Rider Plus (UIN: 109B023V02), ABSLI Waiver of Premium (UIN: 109B017V03)
ICICI Pru Non-Linked Accidental Death and Disability Rider
Terminal illness benefit
Yes
—
Waiver of premium
Inbuilt Waiver of Premium on Accidental Total and Permanent Disability (life insured aged up to 70); brochure variant table also shows 'WOP on TI & ATPD' for all three options; ABSLI Waiver of Premium rider (CI or disability) optional
—
Premium
Sample annual premium
₹19,400
₹74,638
Sample premium is for
Male, standard life, non-smoker, age 30, Sum Assured Rs 1,00,00,000, cover till age 85 (55-year term, not the 30-year profile), Regular Pay, annual frequency, Level Cover option, death benefit lumpsum; premium excluding taxes and first-year discount, if any. Brochure gives no 30-year-term figure.
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.
Insurer
Death claims settled (insurer)
98.65%
99.31%
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
109N153V02
105N195V02

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

Super Term Plan

  • Pro: Return-of-premium option available

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)
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