The Single premium plan offers financial protection with the potential to grow your money.
ICICI Pru1 Wealth is more than a life insurance plan. With just a single premium payment, you can get 100% of your money invested in the funds of your choice. You get 7 fund choices i.e. 3 equity funds, 3 debt funds and 1 balanced fund and can switch between these funds anytime, at no extra cost.This plan gives you the potential for better returns by investing in the market while protecting your family with life cover2. You will also get tax benefits on premiums paid and benefits received. By choosing this plan, you can join thousands of our customers who have invested in our funds to achieve their future goals.
8 BENEFITS OF
ICICI PRU1 WEALTH
Single-Premium
Don’t worry about your next premium – there isn’t one.
100% Money Invested
Your complete premium gets invested in your choice of funds.
7 Fund Options
Invest in your choice of 7 funds (3 Equity, 3 Debt & 1 Balanced) to build a corpus for your future.
Unlimited Fund Switches
You can make free switches between your funds to earn more from your investments.
Wealth Boosters1
Get rewarded with wealth boosters as a percentage of the premium paid at the end of your policy term.
Life Cover2
Get peace of mind with life cover up to 10 times the premium you pay for the entire policy term.
Tax Benefits3
You receive a tax-free maturity amount under Sec 10(10D) and tax rebate on the premium paid under Sec 80C of the Income Tax Act, 1961.
Secure your Family’s Future4
Protect your wife and children financially even in your absence with MWP Act
HOW IT WORKS
Illustration 1
Ashok is a 30-year-old male who purchased ICICI Pru1 Wealth with a policy term of 10 years. Ashok decided to pay ₹ 1,00,000/- as a one-time premium and the life cover for the plan was ₹ 10 lakh.
On maturity, Ashok will get returns according to the performance of funds he had invested in.
Amount of single premium: ₹ 1,00,000
Sum Assured: ₹ 10,00,000
Age at entry: 30 years
Policy term: 10 years
Sum Assured: ₹ 10,00,000
Age at entry: 30 years
Policy term: 10 years
| Assumed investment returns → | @ 4% ARR` | @ 8% ARR` |
| Fund Value at Maturity → | ₹ 1,20,285 | ₹ 1,76,531 |
`ARR: Assumed Rate of Return
Note: As per IRDAI guidelines, returns are shown at 4% p.a. and 8% p.a.:
For this example, we have assumed that the investment is done in the Maximiser Fund V (SFIN: ULIF 114 15/03/11 LMaximis5 105)
For this example, we have assumed that the investment is done in the Maximiser Fund V (SFIN: ULIF 114 15/03/11 LMaximis5 105)
In case of Ashok's death during policy term, Ashok's nominee will receive the death benefit as a lump sum payout.
Year of death
|
|
|
|---|---|---|
| @ 4% ARR` | @ 8% ARR` | |
| 5 | ₹ 10,00,000 | ₹ 10,00,000 |
| 10 | ₹ 10,00,000 | ₹ 10,00,000 |
`ARR: Assumed Rate of Return
The above illustration is for a healthy male life with 100% of his investments in Maximiser V. The above are illustrative maturity values, net of all charges, Goods and Services Taxes, and/ or cesses. Since your policy offers variable returns, the given illustration shows different rates of assumed future investment returns. The returns shown in the benefit illustration are not guaranteed and they are not the upper or lower limits of what you might get back, as the value of your policy depends on a number of factors including future investment performance.
When benefit illustrations are included in the content of advertisements- Some benefits are guaranteed and some benefits are variable with returns based on the future performance of your insurer carrying on life insurance business. If your policy offers guaranteed benefits then these will be clearly marked "guaranteed" in the illustration table on this page. If your policy offers variable benefits then the illustrations on this page will show two different rates of assumed future investment returns. These assumed rates of return are not guaranteed and they are not the upper or lower limits of what you might get back, as the value of your policy is dependent on a number of factors including actual future investment performance.
When benefit illustrations are included in the content of advertisements- Some benefits are guaranteed and some benefits are variable with returns based on the future performance of your insurer carrying on life insurance business. If your policy offers guaranteed benefits then these will be clearly marked "guaranteed" in the illustration table on this page. If your policy offers variable benefits then the illustrations on this page will show two different rates of assumed future investment returns. These assumed rates of return are not guaranteed and they are not the upper or lower limits of what you might get back, as the value of your policy is dependent on a number of factors including actual future investment performance.
Illustration 2
Divya is a 30-year-old female who purchased ICICI Pru1 Wealth with a policy term of 10 years. Divya decided to pay ₹ 1,00,000 as a one-time premium and the life cover for the plan was ₹ 10 lakh.
On maturity, Divya will get returns according to the performance of funds she had invested in.
Amount of single premium: ₹ 1,00,000
Sum Assured: ₹ 10,00,000
Age at entry: 30 years
Policy term: 10 years
Sum Assured: ₹ 10,00,000
Age at entry: 30 years
Policy term: 10 years
| Assumed investment returns → | @ 4% ARR` | @ 8% ARR` |
| Fund Value at Maturity → | ₹ 1,20,670 | ₹ 1,76,956 |
`ARR: Assumed Rate of Return
Note: As per IRDAI guidelines, returns are shown at 4% p.a. and 8 % p.a.:
For this example, we have assumed that the investment is done in the Maximiser Fund V (SFIN: ULIF 114 15/03/11 LMaximis5 105)
For this example, we have assumed that the investment is done in the Maximiser Fund V (SFIN: ULIF 114 15/03/11 LMaximis5 105)
In case of Divya's death during the policy term, Divya's nominee will receive the death benefit as a lump sum payout.
Year of death
|
|
|
|---|---|---|
| @ 4% ARR` | @ 8% ARR` | |
| 5 | ₹ 10,00,000 | ₹ 10,00,000 |
| 10 | ₹ 10,00,000 | ₹ 10,00,000 |
`ARR: Assumed Rate of Return
The above illustration is for a healthy female life with 100% of her investments in Maximiser V. The above are illustrative maturity values, net of all charges, Goods and Services taxes and/ or cesses. Since your policy offers variable returns, the given illustration shows different rates of assumed future investment returns. The returns shown in the benefit illustration are not guaranteed and they are not the upper or lower limits of what you might get back, as the value of your policy depends on a number of factors including future investment performance.
When benefit illustrations are included in the content of advertisements- Some benefits are guaranteed and some benefits are variable with returns based on the future performance of your insurer carrying on life insurance business. If your policy offers guaranteed benefits then these will be clearly marked "guaranteed" in the illustration table on this page. If your policy offers variable benefits then the illustrations on this page will show two different rates of assumed future investment returns. These assumed rates of return are not guaranteed and they are not the upper or lower limits of what you might get back, as the value of your policy is dependent on a number of factors including actual future investment performance.
When benefit illustrations are included in the content of advertisements- Some benefits are guaranteed and some benefits are variable with returns based on the future performance of your insurer carrying on life insurance business. If your policy offers guaranteed benefits then these will be clearly marked "guaranteed" in the illustration table on this page. If your policy offers variable benefits then the illustrations on this page will show two different rates of assumed future investment returns. These assumed rates of return are not guaranteed and they are not the upper or lower limits of what you might get back, as the value of your policy is dependent on a number of factors including actual future investment performance.
4 SIMPLE STEPS TO BUY ONLINE
Choose Investment Amount
Use our online calculator to decide your investment amount and policy term.
Select Funds
Choose where your money will be invested from our equity, debt and balanced funds. 7 funds to choose from.
Make Payment
You can make the payment anytime, anywhere through our website.
Plan Issued
Your plan is issued after your details and documents are verified.
THINGS YOU NEED TO KNOW
What is the premium payment option in the ICICI Pru1 Wealth plan?
ICICI Pru1 Wealth is a single premium payment life insurance plan that allocates 100% of your investment amount in the funds of your choice while providing a life insurance cover. So, pay just once and enjoy the benefits for a long term!
What are the policy terms available in the ICICI Pru1 Wealth plan?
ICICI Pru1 Wealth has two policy terms i.e. 5 & 10 years. You can choose the policy term which will support your plans to achieve your financial goals.
How much premium do I have to pay?
The premium for ICICI Pru1Wealth starts at `50,000/- per annum. There is no limit on the maximum investment amount.
What are the minimum and maximum entry ages for this plan?
Minimum age at entry: 8 years
Maximum age at entry: 60 years
How much Life Cover I will get?
| Age at entry last birthday | Minimum Sum Assured | Maximum Sum Assured |
| <= 50 years | 1.25 times Single Premium | 10 times Single Premium |
| >50 years | 1.25 times Single Premium | 1.25 times Single Premium |
What is Automatic Transfer Strategy?
Automatic Transfer Strategy (ATS) helps eliminate the need to time your investment by giving you the benefit of rupee cost averaging. If this option is chosen, you can invest all or some part of your investment in Income Fund or Money Market Fund and transfer a fixed amount in regular monthly instalment into any one of the following funds: Maximiser V, Multi-Cap Growth Fund or Value Enhancer Fund. There would be no additional charges for ATS. The following conditions apply to ATS.
- The minimum transfer amount under ATS is ₹ 2,000/-.
- This transfer will be done in equal instalment in not more than 12 monthly instalment.
- ATS would be executed by redeeming the required number of units from the fund chosen at the applicable unit value and allocating new units in the destination fund at the applicable unit value.
- At inception, you can opt for a transfer date of either the first or fifteenth of every month. If the date is not mentioned the funds will be switched on the first day of every month. If the first or the fifteenth of the month is a non-valuation date, then the next working day’s NAV would be applicable.
How can I invest my surplus money in the plan?
Top-up
You can invest any surplus money as a Top-up premium, over and above the base premium, into the policy. This feature is available only for the policy term of 10 years.
The following conditions apply on Top-ups:
- The minimum Top-up premium is ₹ 2,000/-.
- Your Sum Assured will increase by Top-up Sum Assured when you make a Top-up. Each top-up premium will be treated as a Single Premium payment for determining the Top-up Sum Assured.
- Top-up premiums can be paid any time except during the last five years of the policy term, subject to underwriting.
- A lock-in period of five years would apply for each Top-up premium for the purpose of partial withdrawals only.
- At any point during the term of the policy, the total Top-up premiums paid cannot exceed the base premium of the policy.
- The maximum number of top-ups allowed during the policy term is 99.
What are unlimited free switches between funds?
You can switch units from one fund to another depending on your financial priorities and investment outlook as many times as you want. This benefit is available to you without any charge. The minimum switch amount is ₹ 2,000/-
DEATH BENEFITS DETAILS
| Year of death | Sum Assured (₹) | Fund Value (₹) | Death Benefit paid out to nominee (₹) | ||
|---|---|---|---|---|---|
| @ 4% ARR | @ 8% ARR | @ 4% ARR | @ 8% ARR | ||
| 5 | 10,00,000 | 1,08,424 | 1,31,400 | 10,00,000 | 10,00,000 |
| 10 | 10,00,000 | 1,20,285 | 1,76,531 | 10,00,000 | 10,00,000 |
ARR: Assumed Rate of Return
This calculation is applicable for Single Pay policies for age at entry less than 50 years. The formula: Death Benefit = A or B or C whichever is higher; where, A = Sum Assured including Top-up Sum Assured, if any, B = Fund Value including Top-up Fund Value, if any and C = Minimum Death Benefit. Minimum Death Benefit will be 105% of the total premiums paid including Top-up premiums, if any.
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Disclaimers
1The company will allocate extra units at the end of the policy term, provided monies are not in the DP fund. Wealth Booster will be allocated among the funds in the same proportion as the value of total units held in each fund at the time of allocation. The allocation of Wealth Booster units is guaranteed and shall not be revoked by the Company under any circumstances.
| Policy Term | 5 Years | 10 Years |
|---|---|---|
| Wealth Booster | 2.50% of Single Premium | 2.75% of Single Premium |
For the 10 year policy term, wealth booster will be 2.75% of single premium including top up premiums less partial withdrawals if any.
2Sum Assured multiples in between the minimum and maximum limits are not available
| Policy Term | 5 Years | 10 Years |
|---|---|---|
| <= 50 years | 1.25 times Single Premium | 10 times Single Premium |
| >50 years | 1.25 times Single Premium | 1.25 times Single Premium |
3Tax benefit of `46,800/- is calculated at highest tax slab rate of 31.2% (including Cess excluding surcharge) on life insurance premium u/s 80C of `1,50,000/-. Tax benefits under the policy are subject to conditions under Sections 80C, 80D, 10(10D) and other provisions of the Income Tax Act, 1961. Goods and Services Tax and Cesses, if any, will be charged extra as per prevailing rates. Tax laws are subject to amendments made thereto from time to time. Please consult your tax advisor for details, before acting on the above.
4Nothing herein contained shall operate to destroy or impede the right of any creditor to be paid out of the proceeds of any policy of assurance, which may have been effected with intent to defraud creditors. In case of any third party claim in the Courts of India with regards to the insurance proceeds, the amount shall be subject to the judiciary directions. Please seek professional legal advice for the applicability of this provision.
^Past performance is not an indicative of future performance.
`If the policy offers guaranteed returns, then these will be clearly marked “guaranteed” in the Benefit Illustration. Since the policy offers variable returns, the given illustration shows two different rates of assumed future investment returns. The returns shown above are not guaranteed and they are not the upper or lower limits of what you might get back, as the maturity value of policy depends on a number of factors including future investment performance.
Fund name
|
SFIN
|
|---|---|
Maximiser Fund V
|
ULIF 114 15/03/11 LMaximis5 105
|
Multi cap Growth Fund
|
ULIF 085 24/11/09 LMCapGro 105
|
Multi cap Balanced Fund
|
ULIF 088 24/11/09 LMCapBal 105
|
Income Fund
|
ULIF 089 24/11/09 LIncome 105
|
Money Market Fund
|
ULIF 090 24/11/09 LMoneyMkt 105
|
Value Enhancer Fund
|
ULIF 139 24/11/17 VEF 105
|
Secure Opportunities Fund
|
ULIF 140 24/11/17 SOF 105
|
Unit Linked products are different from traditional insurance products and are subject to the risk factors.
The premium paid in ULIPs are subject to investment risks associated with capital markets and the NAVs of the units may go up or down based on the performance of the fund and factors influencing the capital market and the insured is responsible for his/ her decisions. ICICI Prudential Life Insurance is only the name of the Life Insurance Company and ICICI Pru1 Wealth is only the name of the unit linked insurance product and does not in any way indicate the quality of the product, its future prospects and returns.
Please know the associated risks and the applicable charges, from your Insurance agent or the Intermediary or policy document issued by the Insurance company.
The various funds offered under this product are the names of the funds and do not in any way indicate the quality of these plans, their future prospects and returns.
~Guaranteed benefits are payable subject to all due premiums being paid and the policy being in force on the date of maturity.
UIN:105L175V03. Advt. No.: W/II/1903/2020-21