Q: Can I withdraw money from this plan before maturity?

A) Partial withdrawals 13 are allowed after the completion of five policy years provided funds are not in DP Fund. You can make unlimited number of partial withdrawals 13 as long as the total amount of partial withdrawals 13 in a year does not exceed 20% of the Fund Value in a policy year. The partial withdrawals13 are free of cost. DP Funds refer to Discontinued Policy fund and consist of money from lapsed policies. Systematic Withdrawal Plan (SWP) 17 - This facility allows you to withdraw a pre-determined percentage of your fund value regularly. This can help you to meet specific needs such as child’s education or money for day-to-day expenses during retirement

Question 1

What are the benefits I get in this plan?

Accepted Answer

SmartKid Assure with ICICI Pru Signature Assure plan is a 5 in 1 benefit savings insurance plan to grow funds for your child's future expenses and to financially secure your child in case of any unfortunate event with In-built Waiver of Premium¹⁸ and income benefit³.

Some unique benefits of this plan are-

A) Wealth creation opportunity- The plan offers an opportunity to create wealth over long-term for your goal with the combination of equity, debt and balanced fund options available

B) Goal protection – Your child’s future is secured even in your absence. You child gets following benefits in case of your unfortunate demise

• Life cover¹ – Life cover amount (sum assured) will be paid to your child

• Future secure² – Future premiums are waived² off and the remaining premiums (if any) is paid by the company to ensure your child’s financial security.

• Family income³ benefit – Your child would also get an annual income³ every year till the end of policy term to take care of their recurring expenses

• Maturity benefit – Your child will also get the maturity benefit at the end of the policy term to ensure they do not have any financial roadblocks for their goals.

• ADBR- Your child will get additional life cover amount in the unfortunate event of an accident

C) Flexibility- Choice of 4 portfolio strategies and wide range of funds across equity, balanced, and debt to suit your investment needs

D) Free Switches⁵- Switch between the funds as many times for Fixed Portfolio Strategy, completely free of cost.

E) Tax^*-benefits- Avail tax^* benefits on the premiums paid u/s 80C and benefits received u/s 10(10D) of Income Tax Act, 1961

F) Loyalty additions⁴ – Fund boosters worth 2.50% of fund value will be added to fund every 5th year from end of 10th policy year

G) Systematic withdrawals¹⁷- Option to get regular money from your fund value with Systematic Withdrawal¹⁷ Plan

H) Quick & Safe buying process- Buying this plan online is completely safe, secure & convenient. It takes only 10-15 minutes to fill the form & do the payment. You can also talk to our experts on toll-free no. 1800 209 9777 for any queries

I) Online servicing- The entire servicing of this plan can be done online or through our official app. This saves your time to visit the branch for any of your concerns

Question 2

Can I surrender this plan?

Accepted Answer

A) Yes. The customer can surrender this plan if required. However, depending upon the year of the policy you wish to surrender the surrender benefits will be applicable as below,

• Yes. The customer can surrender this plan if required. However, depending upon the year of the policy you wish to surrender the surrender benefits will be applicable as below,

•On surrender after completion of the fifth policy year, you will be entitled to the Fund Value including Top-up Fund Value if any.

• The surrender option will remain available as long as the life assured is alive and the policy is not terminated for any reason earlier.

Question 3

What are the tax^* benefits in this plan?

Accepted Answer

A) SmartKid Assure with ICICI Pru Signature Assure plan offers 2 types of tax-benefits^* to our customers-

•Tax^* benefits on premiums paid u/s 80C of Income Tax Act, 1961.

•Tax^* benefits on maturity or death proceeds subject to Section 10(10D) of Income Tax Act 1961.

Question 4

What happens if I discontinue paying premiums?

Accepted Answer

A) In case of discontinuance of policy due to non-payment of premiums during the first five policy years, upon the expiry of grace period, the Fund Value including Top-up Fund Value, if any, shall be credited to the DP Fund after deduction of applicable discontinuance charges and the risk cover shall cease. It will continue to remain in the DP fund till the policy is revived by paying due premiums

Question 5

Can I buy this plan online?

Accepted Answer

SmartKid Assure with ICICI Pru Signature Assure plan can be easily bought online in 4 simple steps-

• Choose your premium amount, premium payment term, policy term, income benefit percentage

• Make a safe payment online

• Get a digital welcome kit delivered once the policy is issued

The key benefits of buying this plan online are-

• Paperless and convenient buying journey

• Quick digital documentation process

• Toll-free call-based assistance for any queries - 1800 209 9777

• 30 days free-look period to review your policy details

Question 6

Can I withdraw money from this plan before maturity?

Accepted Answer

A) Partial withdrawals¹³ are allowed after the completion of five policy years provided funds are not in DP Fund. You can make unlimited number of partial withdrawals¹³ as long as the total amount of partial withdrawals¹³ in a year does not exceed 20% of the Fund Value in a policy year. The partial withdrawals13 are free of cost. DP Funds refer to Discontinued Policy fund and consist of money from lapsed policies.

Systematic Withdrawal Plan (SWP)¹⁷- This facility allows you to withdraw a pre-determined percentage of your fund value regularly. This can help you to meet specific needs such as child’s education or money for day-to-day expenses during retirement

Question 7

How are my returns calculated?

Accepted Answer

A) SmartKid Assure with ICICI Pru Signature Assure aims to achieve market-linked returns from a diversified portfolio of equity, debt & balanced funds. The customer has the flexibility to choose his portfolio strategy & the funds depending upon his/her risk appetite
Unit Pricing: The NAV for different Segregated Funds shall be declared on all business days (as defined in Investment Regulations)

Question 8

Can I switch⁵ my investment from one fund to another before Maturity?

Accepted Answer

A) In SmartKid Assure with ICICI Pru Signature Assure plan, if you choose the Fixed Portfolio Strategy, you can switch units from one fund to another as many times as you want as per your financial priorities and investment opportunities. This benefit is available to you completely free of cost. The minimum switch amount is ₹2,000. Note-Switches5 are not applicable to other portfolio strategies.

Question 9

Who will manage my investment?

Accepted Answer

A) Your investments will be actively managed by our dedicated & experienced fund managers. You can get the entire details about the fund performance on our official website or the link provided here-

  https://www.iciciprulife.com/fund-performance/all-products-fund-performance-details.html?UID=1203

Question 10

Can I cancel this plan post purchase?

Accepted Answer

A) You have a period of 30 days to review your original policy document from the date of receipt if you have purchased the policy online. If you are not satisfied with the terms and conditions of your policy, you can return it to us for cancellation and you will be eligible for a refund. This will be mentioned in your policy certificate. Once received, we will process your request and refund the premium amount after applicable deductions (if any) within 15 days.

Question 11

At what age can I start and close this plan? What PPT and Policy term options are available in this plan?

Accepted Answer

A) Min/Max age of entry – 18/50 years, Min/Max age at maturity – 33/65 years.

Premium payment terms:
Minimum:

Age at Entry	Minimum Premium Payment Term
≤ 45 years	5 years
> 45 years	7 years

Maximum – 15 years

Policy terms – 15 to 25 years

Question 12

What are the charges in this plan?

Accepted Answer

A) The basic charges included in the plan are as below-

• Policy Administration Charges- Policy Administration Charge are levied every month by redemption of units

• Mortality charges- Mortality charges are charged for the insurance cover opted & are levied every month by redemption of units based on the Sum at Risk.

• Fund management charges- The fund management charges are charged as percentage of the Fund Value and will be adjusted from the NAV daily .

Build wealth for your child's future with a 5-in-1 savings insurance plan

Company acts as Parent for your child18

Life cover amount1

Easy withdrawal in time of need13

Family income3

Why do you need a child plan?

What is Smartkid Assure with ICICI Pru Signature Assure plan?

Recommended for

Parents of young kids

Parents of teenagers

Expecting parents

Parents of toddlers

Single parent

How the plan works

One plan, multiple objectives

In built Premium waiver18

Life Cover1

Withdrawals13,17

Premium payment term

Min. investment>

Tax* exempted on maturity value

Tax* Benefits on premiums paid*

Top up Premium

Settlement Option17

Fund Switches5

Fund options#

Loyalty Additions4

Maturity Protect19

Premium Allocation Charges

Change of portfolio Strategy

Funds Performance#

Steps to Buy

Choose premium amount

Select your choice of funds

Make a payment

Policy Issued

Keep these documents handy

Why Choose ICICI Prudential life?

Frequently asked question

What are the benefits I get in this plan?

Can I surrender this plan?

What are the tax* benefits in this plan?

What happens if I discontinue paying premiums?

Can I buy this plan online?

Can I withdraw money from this plan before maturity?

How are my returns calculated?

Can I switch5 my investment from one fund to another before Maturity?

Who will manage my investment?

Can I cancel this plan post purchase?

At what age can I start and close this plan? What PPT and Policy term options are available in this plan?

What are the charges in this plan?

Company acts as Parent for your child¹⁸

Life cover amount¹

Easy withdrawal in time of need¹³

Family income³

In built Premium waiver¹⁸

Life Cover¹

Withdrawals^13,17

Min. investment^>

Settlement Option¹⁷

Fund Switches⁵

Fund options^#

Loyalty Additions⁴

Maturity Protect¹⁹

Funds Performance^#

**What are the tax^* benefits in this plan?**

Can I switch⁵ my investment from one fund to another before Maturity?