ICICI ULIP Plan

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ICICI Prudential unit-linked Insurance Plans

Out of the various insurance products offered by the ICICI Prudential Life Insurance Company, its unit-linked insurance plans (ULIP) are counted as one of the most useful insurance products. A ULIP is a special category of insurance that combines the benefits of protection and savings in a single plan. ICICI Pru ULIP provides customers with the protective benefit of a life cover and invests a part of their premium amount in equity and/or debt.

To know more about ULIP plans and how it works, read our unit-linked Insurance Plan page.

List of ULIP Plans offered by ICICI Prudential

The company has carefully crafted a long list of ULIP plans to help customers invest their money in a disciplined manner as well as address their key financial goals. For your convenience, we've listed down all the ULIP plan variants offered by the ICICI Prudential company. Let's take a look at them.

S.No Plan Name Who Should Buy?
2. ICICI Pru Signature Online The plan is ideal for budget-friendly customers who wish to enjoy life cover benefits for the entire policy term and ensure complete financial protection of their families.
2. ICICI Pru Signature The plan gives life cover to secure the future of the insured's family members and also offers flexible investment options.
3. ICICI Pru1 Wealth This plan is designed for people who wish to achieve their goals with a single premium plan that invests their complete premium and provides a life insurance cover as well.
4. ICICI Pru LifeTime Classic The plan allows people to achieve their financial goals with the growth potential of equity, debt, and balanced funds along with life cover to protect their families.
5. ICICI Pru Guaranteed Wealth Protector This plan is suitable for people who want to enjoy better returns and grow their money by investing in a mix of equity and debt.
6. ICICI Pru Smart Life Customers who are interested in securing their families' future with continued potential wealth creation even after their death should consider opting for this plan.
7. ICICI Pru Smart Kid Plan This plan helps customers in funding their child's educational expenses.
8. ICICI Pru Smart Couple Plan This plan is an ideal choice for couples who wish to secure the financial future of their spouse along with achieving their financial goals.

**Last Updated on June, 2021

To help you understand better, we've provided an overview of all the above-mentioned plans. Read below.

  1. ICICI Pru Signature Online

    ICICI Pru Signature is a newly launched special savings plan that provides customers with the benefits of a life cover and helps them to secure their families along with flexible investment options. The plan comes with a choice of 4 portfolio strategies and a wide range of funds that allow users to invest flexibly as per their needs.

    Key features:

    • The life cover benefit under this plan is provided for the entire policy term so that the policyholder can ensure that his family is financially secured even in his absence.
    • The plan offers abundant flexibility to the customers by offering 4 portfolio strategies and a wide range of funds across equity, balanced, and debt to suit your investment needs.
    • By opting for the Whole Life policy term option, customers can enjoy policy benefits till 99 years of age.
    • The plan provides a return of mortality and policy administration charges at the time of maturity.
    • Customers are provided with loyalty awards in the form of special wealth boosters at regular intervals.

    Eligibility Criteria:

    Eligibility condition Minimum Maximum
    Entry Age 0 years 60 years
    Maturity age 18 years 75 years
    For the whole life option- 99 years
    Policy term 10 years 30 years
    For the Whole Life policy term option, the policy term equals 99 minus Age at entry.
    Minimum premium Rs. 30,000
    Premium payment mode Yearly, Half-Yearly, and Monthly
    Premium payment option Limited pay and Regular pay

    **Last Updated on June, 2021

  2. ICICI Pru Signature

    This is a savings and protection-oriented unit-linked insurance plan that takes care of the insured's family members by offering a life cover in case he/she is no longer around and also provides flexible investment options to help customers in achieving their future financial goals.

    Key features:

    • The plan provides financial protection in the form of life cover that can be availed by the customers for the entire policy term.
    • There are 4 portfolio strategies available under this plan and customers have the freedom to select a strategy as per their needs.
    • This plan also allows policyholders to make systematic money withdrawals from their policy.
    • The total of premium allocation charges paid by the policyholder are added back to the Fund Value at the end of the 10th policy year.
    • Special wealth booster benefit is offered to the policyholders for staying invested in this plan. The benefit is provided at the end of every 5 years starting from the end of the 10th policy year.
    • The plan also offers Value Benefit in year 2 and year 6 to reward higher contributions made by the policyholder.

    Eligibility Criteria:

    Eligibility condition Minimum Maximum
    Entry age 0 years Single Pay: 70 years,
    Limited/ Regular Pay: 65 years
    Maturity age 18 years Limited / Regular Pay: 75 years
    Single Pay: 80 years,
    For Whole Life option: 99 years
    Minimum premium Rs. 1,00,000
    Premium payment modes Single, Yearly, Half-Yearly, and Monthly
    Premium payment option Single Pay, Limited Pay, and Regular Pay

    **Last Updated on June, 2021

  3. ICICI Pru1 Wealth

    ICICI Pru1 Wealth is a single premium savings and protection-oriented life insurance plan that allows customers to allocate 100% of their investment amount in the funds of their choice while providing them a life insurance cover.

    Key Features:

    • The policyholder does not have to worry about his next premium payment as the plan provides a single premium payment option.
    • The plan allows customers to invest their complete premium amount between any of the 7 fund choices i.e. 3 equity funds, 3 debt funds, and 1 balanced fund.
    • Customers can make unlimited free switches between the funds to earn more from their investments.
    • The life insurance cover under this plan is offered for the entire policy term.
    • Special rewards in the form of wealth boosters are provided to the policyholder as a percentage of the premium paid at the end of the policy term.

    Eligibility Criteria:

    Eligibility condition Minimum Maximum
    Entry Age 8 years 60 years
    Maturity age 18 years 70 years
    Policy term 5 years 10 years

    **Last Updated on June, 2021

  4. ICICI Pru LifeTime Classic

    The LifeTime Classic plan by ICICI Pru provides complete financial protection to the family members of the Life Assured through life cover and at the same time provides the potential to create wealth and save for the future.

    Key Features:

    • The plan offers 4 portfolio strategies and customers can opt for any of them as per their personal investment needs. These strategies are:
      • Target Asset Allocation Strategy- Under this option, customers can invest in 2 funds as per their risk appetite and the company maintains the allocation with quarterly rebalancing.
      • Trigger Portfolio Strategy 2: This strategy is based on the principle of 'Buy low and Sell high' and allows customers to allocate premium in 2 funds to take advantage of substantial market swings.
      • LifeCycle based Portfolio Strategy 2: This is a unique and personalized strategy that creates an ideal balance between equity and debt, based upon the customer's age.
      • Fixed Portfolio Strategy: Under this strategy, customers can allocate their savings in any of the available funding options- 8 Equity, 3 Debt, and 2 Balanced funds.
    • Customers get the flexibility to choose between fund choices (i.e. equity funds, debt funds, and a balanced fund).
    • With this plan, the nominee of the policyholder gets life cover and prevailing fund value as a lump sum payout if the policyholder dies during the policy term.
    • The plan allows customers to move their money between various fund options to get potentially better returns. There are 4 free switches granted in a policy year.
    • Customers can also increase their investment in the plan anytime by using the online top-up facility.
    • Loyalty Additions and Wealth Boosters get added to the customer's investment if they pay premium regularly and stay invested in the policy.

    Eligibility Criteria:

    Eligibility condition Minimum Maximum
    Entry Age 0 year Single Pay: 75 years, Limited Pay/Regular Pay: 65 years
    Maturity age 18 years Single Pay: 80 years, Limited Pay/Regular Pay: 75 years
    Premium payment option Single Pay, Limited Pay, and Regular Pay
    Premium payment mode Single, Yearly, Half-yearly, and Monthly

    **Last Updated on June, 2021

  5. ICICI Pru Guaranteed Wealth Protector

    ICICI Pru Guaranteed Wealth Protector is an individual plan that allows customers to enjoy potentially better returns by investing a portion of their money in equity and also provides the dual assurances of capital guarantee and life cover.

    Key Features:

    • The plan offers a capital guarantee on the money invested by the customer in the form of assured benefit.
    • In case of the policyholder's death during the policy term, his/her nominee is provided with a fixed sum assured amount in a lump sum.
    • Customers are also rewarded with extra benefits such as Loyalty Additions and Wealth Boosters to increase their savings.
    • With this plan, customers have the flexibility to choose the time duration for paying premiums. There are three options available:
      • One Pay option (payment of premium once),
      • Five Pay option (payment of premiums for 5 years)
      • Seven Pay (payment of premiums for 7 years)

    Eligibility Criteria:

    Eligibility condition One Pay Five Pay Seven Pay
    Minimum Entry Age 8 years 8 years 8 years
    Maximum Entry Age 70 years 60 years 60 years
    Minimum Maturity Age 18 years 18 years 18 years
    Maximum Maturity Age 80 years 70 years 72 years
    Policy term 10 years 10 years 12 years
    Premium payment mode Single Annual, half-yearly, monthly

    **Last Updated on June, 2021

  6. ICICI Pru Smart Life

    ICICI Pru Smart Life is a savings and protection-oriented unit-linked Life Individual plan that safeguards your family's future with the promise of continued potential wealth creation and offers multiple choices for investing the funds.

    Key Features:

    • In case of death of the Life Assured, the plan offers lump sum payment of sum assured along with premium waiver benefit.
    • Customers have the option to select a portfolio strategy of their choice from two available options. These are:
      • Fixed Portfolio Strategy: This option allows customers to allocate the savings in the funds of their choice from diverse options of funds.
      • LifeCycle based Portfolio Strategy: This is a personalized strategy that creates an ideal balance between equity and debt, based on the policyholder's age.
    • The plan allows customers to make partial withdrawals any time after the completion of five policy years.
    • Special loyalty additions and wealth boosters are provided to the customers upon staying invested in this plan for the long term.

    Eligibility Criteria:

    Eligibility condition Regular Pay One Pay Limited Pay
    Minimum Entry Age 20 years 20 years 20 years
    Minimum Maturity Age 30 years 30 years 30 years
    Maximum Maturity Age 64 years 64 years 64 years
    Policy term 10 to 25 years 10 years 5 Pay / 7 Pay - 10 years to 25 years
    10 Pay - 11 years to 25 years
    Premium payment mode Annual, half-yearly, monthly

    **Last Updated on June, 2021

  7. ICICI Pru Smart Kid Plan

    ICICI Pru Smart Kid Plan is a unit-linked insurance plan that is designed to help customers in funding their child's key educational expenses and also provides security to their families in case of their absence.

    Key Features:

    • The plan allows customers to make partial withdrawals any time after completion of 5 policy years for funding their child's education.
    • Customers are rewarded with special wealth boosters and loyalty additions upon making long-term investments with this plan.
    • The plan also offers the choice of a lump sum pay-out and premium waiver benefit upon the death of the insured person.
  8. ICICI Pru Smart Couple Plan

    ICICI Pru Smart Couple Plan is a unit-linked insurance plan that aims at helping couples secure their financial future. The plan allows customers to build a financial corpus and fulfill their future goals despite rising costs or in case of an unfortunate event.

    Key features:

    • With this plan, customers have the opportunity to create wealth through market-linked returns along with the flexibility to choose from 11 different funds.
    • If any unfortunate event happens against the policyholder, then the company pays all future premiums on behalf of the insured person and the fund value of the plan is paid to the nominee on maturity.
    • The life cover is provided as a lump sum payment to the nominee to fund his/her immediate financial needs after any unfortunate event happens with the policyholder.
    • Customers have the freedom to make partial withdrawals any time after the completion of 5 policy years.

    Eligibility Criteria:

    Eligibility condition Minimum Maximum
    Entry Age 20 years 54 years
    Premium payment option One pay, Limited pay, and Regular pay
    Premium payment mode Single / Annual / Half-yearly / Monthly

    **Last Updated on June, 2021

How to Buy ICICI Prudential ULIP Plans?

The buying process for ICICI Pru ULIP plans is very easy and hassle-free. Customers can now buy these plans online from the official website of the company. Given below is a step-by-step guide of the same. Let's take a look.

  • Visit the website of ICICI Prudential Life Insurance Company.
  • Click on the Plans tab and select unit-linked Insurance Plans.
  • Select your desired plan and click on 'Buy Now'.
  • Fill in the required details and click on 'Show Returns'.
  • Analyze your cover and premium amount.
  • Submit the details and upload essential documents.
  • Make the payment using available payment modes.

The company will share the policy documents with you at your registered mail ID. It will also send a hard copy to your address.

Please note that there are a few plans that are not available for the online purchase method. Customers have to visit the nearest ICICI prudential life insurance branch to invest in the same.

FAQs

The company can decline your policy application request if you're not eligible for the plan. In such cases, the payment is reversed to the customer within 7 working days. You will also get a chance to buy the same policy again after 6 months.

In case the policy issuance is taking time, you can track the status of your policy by visiting the 'track application' page present at the right corner of the website.

Yes. customers have the option of cancelling their application even before the policy is issued. For this, he/she is required to write an email to the company at Buyonline@iciciprulife.com.

To provide customers with ease, the company offers 3 options for making the premium payment. These options are:

  • Online payment through net banking, UPI, debit card, credit card, & e-wallets.
  • Dropping a policy premium cheque at any ICICI Prudential branches and a few banks.
  • Paying in cash for the premium amount up to Rs. 49,999/- at any of the company‚Äôs authorised collection centers.

Yes, if you are not satisfied with the terms and conditions of your policy, you can cancel it within The following time frame:

  • 15 days from the date it is received if the policy is purchased through solicitation in person
  • 30 days from the date it is received if the policy is an electronic policy or is purchased through distance marketing

Find Out What Customers Are Saying

(Showing latest 5 reviews only)

- 4.1/5 (20 Total Rating)

June 18, 2021

Rohan Kumar

Bengaluru

Thanks to policyx. I called them to compare plans and I get a good guidance about ICICI Pru. This plan helped me a lot in my crisis

May 24, 2021

Umang Singh

Kolkata

I purcharsed iProtect Smart policy from ICICI a year ago and am really satistfied with this one. Policy provides gives many benefits and i have also suggested this policy to my other family members. Good Company friends. You should buy policy from ICICI too.

December 30, 2020

Khemraj Neware

Nagpur

I am impressed with the service provided by executives of policyx.com especially mr. ANKIT TYAGI. He assist to finalize my policy and cleared all doubts and could finalize it. my thanks to ANKIT TYAGI from policyx.com

February 23, 2016

Bhavya Pandey

Dehradun

I wanted a term plan but was confused about the right plan, so I took the help of this portal. It provided several options to me from which I chose I-term plan of ICICI Prudential life. The company has a good claim ratio and the service and on time asisitance is a plus point. Satisfied with its performance and thanks to Policy X for helping me out

May 24, 2021

Satyam Tripathi

Delhi

My wife bought ICICI company s health plan for both of us in last year and I am really thankful that she made this decision. The company offers very good plans that looks after the needs of every individual.

Last updated on June, 2021

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