ICICI ULIP Plans
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ICICI Ulip Plan

ICICI Ulip Plan are one of the best options out there in order to secure your future. ICICI Prudential Life Insurance provides a wide variety of ICICI ULIP Plans. ICICI has been amongst the top players in insurance ever since it’s inception in 2000 providing smart insurance tools. ICICI Prudential Savings Plans help you to secure your lives and allow you to build a financially independent 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.

ICICI ULIP Plans help an individual to build a financial corpus for a child's marriage or schooling, or for retirement. ICICI ULIP Plans are a product that provides a dual benefit of life cover as well as investment. The premiums paid by an individual for their ULIP plans are invested in various fund portfolios usually chosen by the policyholder themselves.

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.
Reliance Life Insurance Key Features

Benefits of ICICI ULIP Plans

There are multiple benefits an individual can avail by investing in ICICI ULIP Plans such as:

  • Consistent savings
    ICICI ULIP plans are a good financial tool to help you build a healthy habit of regular savings resulting in a strong financial corpus over the years.
  • Flexibility to handle portfolio
    With ICICI ULIP Plans you get the flexibility and full control of your invested wealth through in built features like premium redirection, fund switch, partial withdrawal and top-up.
  • Life insurance cover
    With ICICI ULIP Plans you get a life insurance cover along with investment options which keeps your family protected.
  • Consistent growth
    ICICI ULIP plans offer the potential to grow your financial corpus as there is a chance of high returns through investments in equity and debt funds.
  • Loyalty rewards
    The money invested by a policyholder in ICICI ULIP Plan keeps growing as the insurer adds to the savings via wealth boosters / loyalty additions.

ICICI ULIP Plans

There are multiple ULIP plans offered by ICICI that cater to different needs and requirements. Here are a few plans offered by ICICI

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 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 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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Invest and secure your life goals by choosing any of the below-mentioned ULIP plans as per your requirements.

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.

Through 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.

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 ULIP: FAQs

1. What happens if my online policy application request gets declined?

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.

2. How can I track the status of my application?

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.

3. Can I cancel my application request?

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.

4. How can I pay the premiums of my plan?

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’s authorised collection centers.

5. I am not satisfied with my ULIP plan. Can I cancel it?

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

6. What is the best time to invest in ICICI ULIP to avail higher returns?

To avail of higher ICICI ULIP Plan returns, it is recommended to start investing early so that you can have more investment opportunities and you could enjoy higher returns.

7. Can I partially withdraw my funds from my ICICI ULIP plans?

Yes, the ULIP plan offered by ICICI Pru allows you to make partial withdrawals any time after the completion of five policy years.

8. Can I calculate my ICICI ULIP Plan premium online?

Yes, with the help of the ICICI ULIP Calculator you can calculate the premium you need to pay online. To get access to ICICI ULIP Calculator, you need to visit the official website of ICICI Prudential and fill in your details.

9. Do ICICI ULIP Plans offer any Tax Benefits?

Yes, under Income Tax Act 1961, the plans offer tax benefits against the premiums paid.

10. How can I maximize my ICICI ULIP Plan returns?

In order to maximize the returns, you can opt for the below-mentioned practice:

  • Invest early
  • Regularize your investments in a disciplined manner
  • Choose fund options according to your requirements
  • Pay your premiums regularly
  • Add top-ups, if required

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