ICICI Prudential term life insurance review
What their own claim record says, and which of their plans is worth your money.
ICICI Prudential settles 99.3% of claims and draws 8 complaints per 10,000 claims, fy 2024–26 (3-year average) from IRDAI disclosures. That is 4 of the 6 insurers we track in this category on settlement ratio. We review 1 of their term life insurance plan; iProtect Smart Plus scores highest at 4.3/5.
- Claim settlement ratio
- 99.3%
- Complaints per 10,000 claims
- 8
- Settlement rank
- 4 of 6
- Our insurer score
- 4.45 / 5
- Book size
- ₹22,239 Cr
- Solvency ratio
- 2.1
ICICI Prudential term life insurance plans we rate
| Plan | Score | Cover |
|---|---|---|
| iProtect Smart Plus | 4.3 / 5 | ₹50 L – unlimited (subject to underwriting) |
- iProtect Smart Plus — A well-priced plan from a large insurer, and the Smart Exit option is genuinely rare. Where it slips is servicing — 8 complaints per 10,000 claims is roughly eight times HDFC Life. That will not matter for most people, but it is the one number we would want you to see before choosing this over the top two. Good pick if price is the deciding factor and you want a household-name insurer.
What the claim record means
A settlement ratio is the share of claims an insurer paid in a year. It is the single most useful number about a company, and also the most easily misread: a high ratio on a small book says less than the same ratio on a large one, and it says nothing about how long a claim took or how hard it was to get paid. That is why we read it beside complaint volume — ICICI Prudential draws 8 complaints per 10,000 claims — rather than on its own.
Both figures are fy 2024–26 (3-year average) from IRDAI Annual Report, insurer public disclosures & policy wordings. See how we score plans and insurers.
Frequently asked questions
What is ICICI Prudential's claim settlement ratio?
99.3%, as fy 2024–26 (3-year average) from IRDAI disclosures. That ranks 4 of the 6 insurers we track in this category. ICICI Prudential draws 8 complaints per 10,000 claims.
Is ICICI Prudential good for term life insurance?
We rate 1 ICICI Prudential plan in this category. ICICI Prudential iProtect Smart Plus scores highest at 4.3/5. A well-priced plan from a large insurer, and the Smart Exit option is genuinely rare. Where it slips is servicing — 8 complaints per 10,000 claims is roughly eight times HDFC Life. That will not matter for most people, but it is the one number we would want you to see before choosing this over the top two. Good pick if price is the deciding factor and you want a household-name insurer.
How many complaints does ICICI Prudential get?
8 complaints per 10,000 claims, fy 2024–26 (3-year average) from IRDAI's public grievance disclosures. Lower is better.
Compare ICICI Prudential with other insurers
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Disclaimer: Figures shown here are compiled from IRDAI annual reports and public grievance disclosures, and from insurer public disclosures and policy wordings. Claim settlement ratios and complaint volumes are three-year averages for FY 2024–26. Premiums are indicative illustrations for the stated profile, not quotes — your actual premium depends on your age, health, city, habits and underwriting. Scores are Myinsurancebro's own assessment. Always read the official policy document and speak to an advisor before buying. Myinsurancebro is an IRDAI-licensed insurance advisor — we do not manufacture or underwrite any insurance product.