Disillusioned.
Try it for yourself- put ice cubes in a glass and fill it to the brim with water. As the ice melts it wont spill over the top because the volume of the glass is already filled with water. No more water is being added.
I didnt have time to write more about the polar caps melting but there is a big difference between Arctic ice and Antarctic ice.
Arctic ice is sitting on the water like an ice cube and as it melts in doesnt add any more volume to the oceans. Antarctic ice is sitting out of the water on land in giant sheets. As it melts, it will add to the volume of water in the oceans and contribute to sea level rise.
From what Ive read though, another factor is thermal expansion of the ocean. As temperatures rise, the volume of the oceans expands. So, melting glacier ice + thermal expansion = sea level rise.