ICICI Prudential ULIP Plans

Types of ULIP Plans Offered by ICICI Prudential Life Insurance

There are 6 ICICI Prudential ULIP plans available to you for investing your money. The plans are:

1. ICICI Pru Signature

   ICICI Pru Signature is a Unit Linked Insurance Plan (ULIP) offered by ICICI Prudential Life Insurance. It is a plan that combines life insurance with the potential for market-linked returns. This means that you can get the benefits of both insurance and investment in one single plan.

   Here are some of the key features of ICICI Pru Signature:

   • Life cover: It provides a life cover to your loved ones in case of your unfortunate demise. The life cover amount is determined by the sum assured you choose and your premium paying term.

   • Investment: A portion of your premium is invested in a variety of funds that are linked to the stock market. The value of your investment will fluctuate based on the performance of the underlying assets.

   • Flexibility: You can choose from a variety of investment options and switch between them as per your risk appetite and market conditions.

   • Tax benefits: You can avail tax benefits on your premiums paid and the maturity proceeds under Section 80C and 10(D) of the Income Tax Act, 1961.

2. ICICI Pru LifeTime Classic

   ICICI Pru LifeTime Classic is a non-participating unit-linked insurance plan (ULIP) that combines:

   Market-linked returns: Your premiums are invested in a variety of funds, offering the potential for growth based on market performance.

   Life cover: Your loved ones receive a sum assured in case of your unfortunate demise during the policy term.

   Here are some key features of the plan:

   • Choice of portfolio strategies: You can choose from different investment strategies based on your risk appetite and financial goals. These include:

   • Lifecycle-based strategy: Automatically adjust your portfolio mix as you age.

   • Target Asset Allocation strategy: Maintains a specific balance between equity and debt funds.

   • Trigger Portfolio strategy: Aim to buy low and sell high based on market movements.

   • Easy access to your money: You can partially withdraw your funds after a lock-in period, subject to certain conditions.

   • Life cover protection: You can choose a sum assured that suits your needs, providing financial security for your loved ones.

   • Rewards for long-term commitment: You can earn loyalty additions and wealth boosters for staying invested for a longer period.

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3. ICICI Pru1 Wealth

   ICICI Pru1 Wealth is a unit-linked insurance plan (ULIP) that combines investment and life insurance benefits in a single policy. It's designed for individuals who want to grow their wealth while also securing financial protection for their loved ones.

   Key features of this plan are:

   • Single Premium: Invest just once at the beginning and let your money grow for the entire policy term.

   • Market-Linked Growth: 100% of your invested amount goes into a wide range of carefully chosen funds, offering the potential for market-linked returns.

   • Life Cover: Enjoy peace of mind knowing your loved ones are protected with a life insurance cover in case of an unfortunate event.

   • Wealth Boosters: Get a bonus payout (a percentage of your single premium) at the end of the policy term as a reward for your long-term commitment.

   

4. SmartKid with ICICI Pru Smart Life

   ICICI Pru SmartKid is a child-oriented unit-linked insurance plan (ULIP) offered by ICICI Prudential Life Insurance. It combines investment and life insurance benefits to help secure your child's future.

   Key Features:

   • Investment Growth: Choose from a range of unit-linked funds to suit your risk appetite and investment goals.

   • Education Milestone Security: Guaranteed payouts at predetermined milestones like higher education or marriage.

   • Life Cover: Lump sum death benefit to your child in case of your untimely demise.

   • Easy Access to Funds: Partial withdrawals allowed for specific needs.

   • Lump Sum Payout Option: Receive the entire maturity benefit as a lump sum at the end of the policy term.

   • Premium Waiver on Death: Future premiums waived off in case of your unfortunate demise, ensuring the policy continues to benefit your child.

   • Rewards for Long-Term Investment: Earn loyalty additions and wealth boosters for staying invested for the long term.

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5. ICICI Pru SmartLife

   ICICI Pru Smart Life is a unit-linked insurance plan (ULIP) that combines life insurance coverage with the potential for investment growth through participation in the capital markets.
   Key Features:

   • Life Cover: Choose the desired level of life cover to ensure your family receives a lump sum payout in case of your unfortunate demise. This financial cushion helps them maintain their lifestyle and navigate future challenges.

   • Wealth Creation Potential: Invest in a diverse range of market-linked funds based on your risk appetite and investment goals. Over time, these funds have the potential to grow your wealth significantly, providing additional savings for your family's future needs.

   • Investment Flexibility: Customize your investment strategy to suit your needs and risk tolerance. Choose from various fund options catering to diverse risk profiles and investment goals.

   • Security and Protection: Enjoy peace of mind knowing your loved ones are financially protected thanks to the life cover and premium waiver benefit. This plan helps secure their future even during uncertain times.

   

6. ICICI Pru Guaranteed Wealth Protector

   ICICI Pru Guaranteed Wealth Protector is a unit-linked insurance plan that combines the potential for high returns with the safety of guaranteed benefits and life cover. 

   Here are its key features:

   • Assured Benefits: This plan guarantees a minimum return on your investment, even if the markets perform poorly. This assured benefit is typically 101% of the total premiums paid and is payable upon policy maturity.

   • Premium Payment Flexibility: You can choose a premium payment term that suits your budget, ranging from a single payment to 5 years. This allows you to invest a lump sum or spread your payments over time.

   • Wealth Boosters and Loyalty Additions: The plan rewards you for staying invested for the long term. You'll receive loyalty additions and wealth boosters that increase your fund value over time.

   • Safety of a Life Cover: The plan provides life insurance protection for your loved ones. In case of an unfortunate event during the policy term, your family will receive a death benefit.

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Conclusion

Before investing in a ULIP, it's crucial to carefully consider your financial goals, risk appetite, and investment horizon. You should also compare different ULIP plans and understand the associated charges before making a decision.