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ICICI Investment Plans

ICICI Prudential Life Insurance provides a wide variety of ICICI Investment plans. One such insurance product offered by the company is its savings and money-back investment plans, catering to the multiple needs of customers. Investment plans like ICICI Pru Savings Suraksha, ICICI Pru Signature, ICICI Pru Smart Kid, and more are designed to give you calculated financial planning.

ICICI Prudential Savings Plans help you to secure your lives and allow you to build a financially independent future. ICICI Prudential Investment Plans help an individual to build a financial corpus for a child's marriage or schooling, or for retirement. ICICI Investment Plans help people to invest in plans that give larger returns and allow them to secure their future.

ICICI Prudential is amongst the most dominant players in the insurance sector of India, commencing its operations in 2001. ICICI Prudential laid its foundation with the value of customer-centricity wherein ICICI Prudential offers long-term savings and protection products to meet the different life stage requirements of the customers.

ICICI Prudential Life Insurance Company Limited (ICICI Prudential Life) is promoted by ICICI Bank Limited and Prudential Corporation Holdings Limited. It has consistently been among the top companies in the Indian Life insurance sector. ICICI Assets Under Management (AUM) on 31st March 2022 were INR 2,404.92 billion.

Key Features of ICICI Prudential Life Insurance?

ICICI Pru Life has been a major player in the insurance industry impacting millions of lives with its services and insurance products. Let's take a look at its key features:

  • Solvency Ratio
    ICICI Prudential Life Insurance has a Solvency Ratio of 2.13 as per the IRDAI annual report 2020-21. The solvency ratio helps the prospective policyholder assess the ability of a company to meet its financial obligations. As of now, IRDAI mandates maintaining a solvency ratio of 1.50 for every insurer.
  • Claim Support
    Claim support of an insurer is a metric that helps you analyze its claims settling ability. As per the IRDAI annual report of 2020-21, the claim support of ICICI Prudential Life Insurance is 97.93%
  • Annual Premium
    As per the annual report of IRDAI 2020-21, The Annual premium of ICICI Prudential Life Insurance is 35,732.82 Cr.
  • PAN India Presence
    With an impact PAN India ICICI Prudential Life Insurance company ensures that the policyholder can directly visit their nearest branch office for any of their policy-related or claim-related queries.
ICICI Prudential life Insurance Key Features

Looking to buy Life Insurance? Find complete details in one go!

What are the Types of Plans Benefits Buying Process Contact Details

Benefits of ICICI Investment Plans

ICICI investment plans fulfill the dual purpose of being an insurance and an investment plan. The policy specifies a death benefit - the amount the nominee will be paid if the policyholder passes away during the term of the ULIP. In addition, if the policyholder survives the term of the ULIP, he/she can also get the maturity value of the ULIP. There are many other benefits of ICICI investment plans such as

  • Regular Savings ULIPs inculcate the habit of regular and disciplined savings, which is the key to successful long-term financial planning.
  • Protection ULIPs provide the protective benefit of a Life Cover, which keeps your family secure in your absence.
  • Flexibility of Investment You will have flexibility and control of your money through fund switch, premium redirection, partial withdrawal, and Top-up.
  • Tax Benefits Investment in ULIPs is eligible for deduction from taxable income under Section 80C of the Income Tax Act, 1961 up to ? 1.5 lakh per annum.
  • Potential for Growth There is a potential of earning higher returns from the power of equity and debt funds. This will help you achieve your life goals such as buying a new home, and your dream car, funding your child's higher education, and much more.
  • Greater Rewards for Staying Invested Your money grows further as the insurance company adds to your savings through bonuses/ additions and is available to you in ULIPs in different forms (such as Loyalty Additions and Wealth Boosters).

ICICI Investment Plans

ICICI investment plans combine insurance and investment benefits in a single plan. ULIP, or Unit Linked Insurance Plan, offers life cover which is a major benefit over the traditional wealth creation tools.

ICICI Pru Signature Online

ICICI Pru Signature offers life cover to secure your family along with flexible investment options.

Unique Features

  • Avail multiple fund choices
  • Whole life cover
  • Avail loyalty rewards

ICICI Pru Signature

A plan that offers whole life cover along with the Return of Premium allocation charges and wealth boosters.

Unique Features

  • Avail Value benefit
  • Wealth boosters available
  • Equity, balance, debt funds available

ICICI Smart Kid

A savings and protection-oriented Unit Linked Life Individual Plan offering to protect your family even in case of your unfortunate demise.

Unique Features

  • Avail Loyalty benefits
  • Waiver of premiums
  • Multiple fund choices

ICICI Pru 1 Wealth

A single premium payment gives you a 100% of your money invested in funds of your choice such as equity funds, debt funds, and balanced funds.

Unique Features

  • Single premium
  • Unlimited fund switches
  • Life Cover

ICICI Pru Life Time Classic

A plan with the potential to maximize your returns and provide you the choice of 4 portfolio strategies and life cover.

Unique Features

  • 4 portfolio strategies
  • Avail Riders Benefits
  • Wealth Boosters

ICICI Pru Guaranteed Wealth Protector

It is a unit linked non-participating individual life insurance plan that offers the potential for assured returns.

Unique Features

  • Loyalty benefits available
  • Wealth boosters
  • Limited Premium Payment

ICICI Pru Smart Life

It is a savings and protection oriented Unit-Linked Life Individual Plan that offers a life insurance cover to protect your family after you as well.

Unique Features

  • Choice of protection level
  • Tax Benefits
  • Choose portfolio strategies

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How To Buy ICICI Prudential Life Insurance Plans

ICICI Prudential allows you to purchase insurance solutions through various means. You can either buy the plan online from the official website of the company or through third-party intermediaries like agents, brokers, etc. Given below is a detailed explanation of both these types of buying process.

Steps to buy from PolicyX.com

  • Fill out the form given at the top of this page with the necessary details.
  • Select your income and city. Click on 'Proceed'.
  • Update your education and occupation details.
  • Choose your preferred plan and click on 'Buy this plan'.
  • Select policy term, premium period, and riders (if required) and then proceed to do the payment.

**Once the payment is made, you will get a payment confirmation at your registered email address.

Steps to buy from ICICI Prudential Life Insurance company

  • Visit the official website of ICICI Prudential Life Insurance Company.
  • Click on 'Plans' on the navigation bar and select 'the particular category of Plans'.
  • Click on the 'Buy Now' button and fill in the required details.
  • Tap on 'Next' and select a plan as per your requirements.
  • Select the cover option you want and make your payment.

**Once the payment is made, you will get a payment confirmation at your registered email address.

How to Contact ICICI Prudential Life Insurance Company?

ICICI Pru Life Towers, 1089 Appasaheb Marathe Marg, Prabhadevi, Mumbai 400025.

1860 266 7766. Timings - (10:00 A.M. to 7:00 P.M) Monday to Saturday (Except for national holidays)

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ICICI Prudential Life Insurance: FAQs

1. What should I do if I misplace my ICICI Investment Policy documents?

In case you misplace your investment documents, you may request a copy by visiting the nearest ICICI Prudential Life Insurance branch.

2. What happens if my ICICI Pru Investment Plan lapse or are discontinued?

The policyholder loses out on all of the benefits of the plan. After discontinuance of the coverage, it cannot be withdrawn. The policyholder would get hold of the invested amount.

3. Can I stop my ICICI Investment Plan before maturity? Do I need to pay any charge for it?

Yes, you are allowed to stop your ICICI Investment Plan by filing a surrender request. The charges of the same may vary from plan to plan. In case you surrender your policy, you will be entitled to receive a surrender value that would be equal to your fund value.

4. Can I appoint a minor as a Nominee?

Yes, you can. However, when you are choosing a minor as your nominee, you have to appoint an appointee also.

5. What is the Settlement Option?

The option of receiving maturity benefit in the form of equal annual pay-outs over a fixed tenure of five years is known as the settlement option.

6. What does 'Cover Cessation Date' mean?

Cover Cessation Date which is also known as the date of maturity is the date on which your plan ends. On this date, the plan will pay the maturity benefit to you. The sum of maturity benefits varies from plan to plan.

7. What are the factors that should be kept in mind before investing in ICICI Prudential Investment Plans?

There are certain factors that may help you in choosing an investment plan. The few factors that one should consider before investing in ICICI Investment Plans are:

  • Determine your Monetary goals
  • Evaluate your current expenses
  • Future expenses that may arise
  • Number of dependants
  • Risk assessment

8. What is the procedure for cancelling an ICICI Prudential investment plans?

Before you may cancel your coverage, you must retain it for at least three years. You need to fill out a surrender form and submit your insurance document to any ICICI Prudential Life branch. The cancellation procedure will take 30 days, and the surrender value cash will be delivered immediately to your bank account.

If you have a single premium policy, then you can terminate it after the first policy year.

9. Am I eligible to avail TAX Benefits with ICICI Investment Plans?

Yes, ICICI Investment plans can help you save money on taxes by increasing your overall income and lowering your taxes. Under Section 80C of the Income Tax Act of 1961, the premium paid for a savings insurance plan is tax-free

10. Am I eligible to invest in ICICI Prudential Investment Plans?

Anybody who wants a risk-free and assured savings tool can invest in this plan. However, the minimum age of the policyholder must be 0 to 18 years, while the maximum age should be is 60 years.

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Reviewed By: Naval Goel

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