ICICI Pru Lakshya Plan
ICICI Prudential Investment Plans
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ICICI Pru Lakshya Wealth Plan

ICICI Pru Lakshya Wealth plan is a participating life insurance plan, which helps you to fulfil your financial dreams and protect your family against unexpected events.


Entry Age

3 years to 70 minus policy term

Maturity Age

18-70 years

Premium Payment Frequency

Annual, Half-yearly, Monthly

Premium Payment Term

5/7/10/12 years

Sum Assured

Higher of (10 times Annualised Premium or PPT X Annualised Premium)

**Last Updated on 14-12-2020

The values may change as per the chosen plan option

What are the features of the ICICI Pru Lakshya Wealth Plan?

The plan comes with a list of fruitful features. Let's take a look at them.

  • Regular Income- Receive steady income until the age of 99 years.
  • Capital protection- This plan offers capital protection with a sum assured on maturity. 
  • Liquidity- This scheme provides liquidity benefits during the policy term to help you in financial emergencies.
  • Free Look Period‌- If you are not satisfied with the policy's terms and conditions within 15 days of purchasing, you can take out the plan. Similarly, in the case of electronic policies, this deadline is 30 days.
  • Grace Period -  If the premium due date expires, the scheme offers a grace period of 15 days to pay the monthly premium and a grace period of 30 days for other payment periods.
  • Suicide Clause- If the policyholder commits suicide within 12 months of the policy's risk-taking or policy's rival, the nominee of the policyholder will receive 80 percent of the total premium paid till death or surrender value (whichever is higher).

What are the benefits of the ICICI Pru Lakshya Wealth Plan?

Like every other plan, ICICI Lakshya delivers useful benefits. Let's take a look at them.

1. Death Benefit

If the policyholder dies during the policy term and all premiums are paid, the payment will be made as follows.

Death Benefit = Higher (A, B)

A = Sum Assured on Death + Accrued regular additions net of encashment + interim regular addition (if any) + terminal bonus (if any)

B = 105% of the premium paid till the date of death.

Sum Assured on Death = Higher of (10 X Annualised Premium or PPT X Annualised Premium)

The policy is terminated after the Death Benefit is paid to the nominee.

2. Maturity Benefit

Maturity benefit includes guaranteed benefits and bonuses.

Maturity benefit= Sum Assured on Maturity + applicable Guaranteed Value Benefits + accrued regular additions net of encashment (if any) + terminal bonus (if any).

There are two options to grab maturity benefits under the Wealth Plan.

  1. Lump-sum payment- The entire payment is made at the end of the policy term. This is the best payment option for those who want to build a wealth corpus.
  2. Income- Those who want to get regular income can opt for this payment option. Maturity benefit is paid in installments depending on the period you choose.

3. Loan Facility

After obtaining the policy surrender value, an insured can take a loan up to 80% of the surrender value.

4.Tax Benefits

By paying regular premiums, you can enjoy tax benefits under the Income Tax Act, 1961.

How does the ICICI Pru Lakshya Wealth plan work?

Vinay is a 30-year-old private employee. He wants to secure his family's future. He decides to invest in the ICICI Pru Lakshya Wealth plan. Vinay invests Rs. 2 lakhs for ten years, and he chooses a policy term for 20 years.

Check the below table for detailed benefits

Maturity benefit

Sum assured on maturity




Accrued Regular Additions


Terminal bonus


**Last Updated on 14-12-2020

If the policyholder survives till the end of the policy tenure, (s)he will get Rs.49,08,200 (at 8% ROI).

Death Benefit

If Vinay passes away at the end of the 11th policy year, his nominee will receive Rs. 28,90,560. The death/maturity benefits can be taken as an entire lump-sum or income.

How to Buy ICICI Pru Lakshya Wealth Plan?

Follow these steps to purchase an ICICI Pru Lakshya Wealth Plan.

  • Visit the official website of ICICI Prudential, go to 'Plans' and then to 'Savings Plans'. 
  • Look for the 'ICICI Pru Lakshya Wealth plan' and click on 'Meet Advisor'.
  • Enter the required information and click on 'Submit'. 
  • The company's representative will get in touch with you and explain the buying process. 

You also have an opportunity to buy this plan from the nearest branch of ICICI Prudential.

What is the claim process of the ICICI Pru Lakshya Wealth Plan?

To save time, ICICI Prudential has come up with a simple process to file a claim. Let's check it out.

  • Inform the company about the incident via call/email/SMS/visit to a branch. 
  • The team will reach out to you and demand a few documents. 
  • After submission, the company will reevaluate them and make a decision. 
  • If approved, the company will settle your claim amount in a matter of days. 

How to contact ICICI Prudential Life Insurance?

Contact Address - ICICI Pru Life Towers, 1089 Appasaheb Marathe Marg, Prabhadevi, Mumbai 400025.
Contact number- 1860 266 7766


1. What's the premium payment term under the Wealth variant?

The premium payment term is 10/12/15 years.

2. Do I get guaranteed surrender value under ICICI Pru Lakshya Plan?

Yes, you do. The guaranteed surrender value varies in both the plan variants. Please check the plan brochure for more details.

3. Can I change the policy and premium payment term in the middle of the plan?

No, that's not possible.

Last updated on 14-12-2020