ICICI Pru Non-Linked Health Protect Rider Calculator

ICICI Pru Non-Linked Health Protect Rider Calculator

ICICI Pru Non-Linked Health Protect Rider (UIN: 105B049V01) is a non-linked, non-participating rider that can be attached to an eligible ICICI Prudential traditional (non-ULIP) base plan. On the first diagnosis of any of the specified critical or major illnesses covered under the rider, it pays a lump sum Health Cover Amount directly to you, over and above the base policy's own death benefit - money you can use for treatment, income replacement, or anything else, with no requirement to submit hospital bills. This calculator gives you an illustrative estimate of the level annual rider premium for a given Health Cover Amount - it does not replace the insurer's official rider terms, Customer Information Sheet or Benefit Illustration.

Who this rider is for

Anyone holding, or planning to buy, a traditional ICICI Pru base plan who wants a lump sum cushion against the cost and income disruption of a serious illness diagnosis, separate from and in addition to their life cover. Because it is a non-linked rider, its cost is not deducted from any fund value; instead, a separate, level annual premium is payable along with the base plan's own premium for as long as the rider cover continues.

What the rider pays

• Lump sum on diagnosis: on the first valid diagnosis of any covered critical or major illness during the rider term, the full Health Cover Amount is paid as a single lump sum, regardless of the actual treatment cost incurred.
• One-time benefit: because the rider pays out on first diagnosis, rider cover ends once a claim is admitted and paid - it is not a renewable or repeating benefit like a health insurance policy.
• Waiting and survival periods: as with any critical illness style benefit, the actual policy applies an initial waiting period after purchase and, for many illnesses, a survival period after diagnosis before the claim is payable. This calculator does not model those conditions - refer to the policy document for the exact list of covered illnesses and their conditions.

What drives the rider premium

Because the rider covers illnesses that can strike at any age but become more likely as the insured gets older, the rate rises with age at entry, similar to a mortality-based cover. Smoking is a well-established risk factor for many of the illnesses typically covered by such riders (certain cancers, cardiac conditions, and more), so the insurer applies a smoker loading on top of the age-based rate for lives declared as smokers.

$$\text{Level Annual Rider Premium} = \frac{\text{Health Cover Amount}}{1000} \times \text{Rate per 1{,}000} \times \text{Smoker Loading} \times (1 + \text{GST Rate})$$

Unlike a reducing benefit such as a premium-waiver rider, the Health Cover Amount here does not shrink over the term - it stays at its full value right up to the day cover ends - so the level annual premium, once fixed at entry, stays exactly the same for every year of the Rider Term.

Worked example

A 35-year-old non-smoker opts for a Health Cover Amount of ₹10,00,000 under this rider for a 20-year Rider Term. The calculator computes a single level annual rider premium (with 18% GST) that stays the same every year of the term, and shows the resulting total premium outlay if the rider runs its full course without a claim. If the same individual were a smoker, the higher smoker loading would raise the level annual premium accordingly, for the same Health Cover Amount and term.

How to use this calculator

1. Enter your age at entry and the Rider Term (in years) - normally aligned with the remaining premium paying term of the base policy.
2. Enter the Health Cover Amount you want the rider to pay on a valid claim.
3. Select your Smoker Status.
4. Submit to see the level annual rider premium (with GST), the total premium over the term if the rider runs its full course, the Health Cover Amount itself, and a year-wise premium schedule.

This tool is for illustration only. Actual rider premiums depend on the insurer's underwriting, medical and lifestyle risk assessment, and applicable taxes, and can differ materially from this estimate - always confirm the exact figure, and the exact list of covered illnesses, with ICICI Prudential Life Insurance or your policy document before buying this rider.