From pregnancy breaks to 15% premium discount: Inside ICICI Prudential’s new women-first insurance plan

Women seeking life insurance can now access coverage tailored to specific healthcare, family, and financial requirements. ICICI Prudential Life Insurance has launched ICICI Pru iProtect Smart Her, a term insurance product that combines life protection with women-focused health and wellness features.

The plan is designed to address changing financial and healthcare needs across different stages of a woman’s life, while offering additional flexibility in premium payments.

“By combining life insurance with meaningful health management services and greater flexibility through features such as the pregnancy break benefit and lifetime premium discount, we offer a solution that helps women secure both their financial future and overall wellbeing,” says Vikas Gupta, Chief Product Officer, ICICI Prudential Life Insurance.

Key features of the term plan

The policy includes several benefits aimed specifically at women:

• 15% lifetime discount on premiums for women
• Pregnancy break benefit to provide greater flexibility with premium payments
• Women-specific health management and wellness services valued at up to ₹25,000
• Child Education Care through an increasing income payout over 10 years
• Life insurance protection combined with health and wellness benefits

ICICI Prudential Life said the product brings together a range of benefits intended to support women during important stages of their lives. Besides the lifetime premium discount, policyholders can access health management and wellness services tailored to women’s requirements.

Pregnancy break benefit

The pregnancy break feature is intended to offer policyholders greater financial flexibility during pregnancy. It allows eligible women to manage premium payments during this important period while continuing to receive the protection provided under the policy, subject to the applicable terms and conditions.

The feature could be particularly relevant for women whose income or household finances change temporarily during pregnancy and the early stages of parenthood.

Income payout for children’s education

Another feature is the Child Education Care option, under which the death benefit can be paid to the nominee as a stream of income instead of being provided entirely as a lump sum.

Under this option, the annual payout increases by 10% each year for 10 years. The structure is intended to provide continuing financial support for a child’s education and other future expenses.

Life cover and wellness benefits

The product also provides access to a range of healthcare-related services, including teleconsultations across multiple medical specialties, annual health check-ups, health risk assessments, wellness information, and discounts on pharmacy and diagnostic services.

According to the company, the overall benefits associated with the product can be worth up to ₹92,100. This includes women-specific health and wellness benefits valued at up to ₹25,000.

However, prospective policyholders should assess the actual life cover, premium amount, policy duration, exclusions and conditions before purchasing the plan. Additional wellness services, discounts and other benefits should be viewed as supplementary features rather than a replacement for sufficient life insurance coverage.

The most important consideration remains whether the policy provides adequate financial protection for the policyholder’s dependents and aligns with their long-term financial needs.