ULIP Transactions Related FAQs

Fund switch is feature of your unit linked insurance policy, through which you can transfer the current funds linked to your policy to another fund of your choice.

After certain number of switches you may be charged as per your policy terms and conditions. Please refer your policy document for details.

You can switch funds in your policy through any of these options:

  1. Once you login, click on the 'Transactions' tab and select 'Switch Funds.'
  2. Under the 'Switch Funds' tab, select your policy number.
  3. Choose the target fund in which you wish to transfer your existing fund and add the percentage of the funds that you want to switch from your existing fund.
  4. Review the target fund details that you have entered and click on submit or edit to modify.

If you submit your Fund Switch request on a working day(day when markets are open) before 3:00pm, then it will be processed as per the Net Asset Value(NAV) declared on the day. If it is submitted after 3:00pm or on a day when markets are closed, then it will processed on the next working day.

Your unit linked insurance policy has a feature called premium redirection. With this feature you can choose to invest your future premiums in a different fund. The premiums which were earlier invested will remain in the same funds as chosen by you.

You can redirect the future premiums of your policy, through any of these options:

  1. Once you login, click on the 'Transactions' tab and select 'Premium Redirection'.
  2. Under the 'Premium Redirection' tab, select your policy number in which you wish to redirect the funds.
  3. Select the fund name in which you want to redirect your future premiums and enter the percentage allocation.
  4. Review the details entered by you and click the submit button.
  • Our Branches: Fill in your details in the Premium Redirection section of this form and submit it at any of our branches. To locate the nearest branch, click here.
  • Email us: Fill in your details in the Premium Redirection section of this form and send a signed scanned copy of this form to lifeline@iciciprulife.com from your registered email id. Do mention your policy number in the subject line.

Once we receive your request, we will process it within 4 working days and send you a confirmation.

Most of our unit linked insurance plans have a feature called Automatic Transfer Strategy. With this facility a fixed amount of your choice will get transferred from your debt fund to equity fund, every month. This features works like an automatic switch.

If you opt for this feature every month, a pre-determined amount gets switched from your debt fund to equity fund. This helps in averaging the NAV while switching in and out of funds. This feature helps in minimizing the impact of the short term market volatility.  For specific details of this feature available in your policy, please refer your Policy Document.

You can enable Automatic Transfer Strategy/Plan on your policy through any of these options:

  1. Once you login, click on the 'Transactions' tab and click on 'Automatic Transfer Plan /Strategy.'
  2. Under the 'Automatic Transfer Plan/Strategy' tab, select your policy number
  3. Choose the target fund, transfer date and amount.
  4. Review the target fund details that you have entered and click on submit or edit to modify.
  • Our Branches: Fill in your details in the Automatic Transfer Strategy/ Plan section of this form and submit it at any of our branches. To locate the nearest branch, click here.
  • Email us: Fill in your details in the Automatic Transfer Strategy/ Plan section of this form and send a signed scanned copy of this form to lifeline@iciciprulife.com from your registered email id. Do mention your policy number in the subject line.

Once we receive your request, we will process it within 4 working days and send you a confirmation.

Portfolio Investment Strategy is the strategy through which the funds linked to your unit linked insurance policy are invested. Most of our Unit linked insurance plans come with multiple portfolio strategies which automatically manage your funds. You can choose the strategy as per your financial goal and risk appetite. For details of the portfolio investment strategy available in your policy, please refer your Policy Document.

You can change the Portfolio Investment Strategy of your unit linked insurance policy through any of these options:

  1. Once you login, click on the 'Transactions' tab and click on 'Change in Portfolio Strategy (CIPS)'.
  2. Under 'CIPS' tab, select your policy number in which you wish to change the portfolio strategy.
  3. The applicable strategies available, will be displayed. You can choose the strategy and click on submit.
  • Our Branches: Fill in your details in the Change in Portfolio Strategy(CIPS) section of this form and submit it at any of our branches. Change in Portfolio Strategy request details have to be filled on Page 2 of the form.
  • Email us: Fill in your details in the Change in Portfolio Strategy(CIPS) section of this form and send a signed copy of this form to lifeline@iciciprulife.com from your registered email id. Do mention your policy number in the subject line.

Once we receive your request, we will process it within 4 working days and send you a confirmation.

Top-up is a feature of your unit linked insurance policy, which allows you to invest your surplus money in your existing policy. You can make a Top-up any time during the term of the policy, as long as all due premiums have been paid.

To do an online Top-up, click here and enter your policy number, date of birth and the pay the top-up amount online.

You can also Top-up your policy through any of these options:

  1. Once you login, click on the 'Top-up' tab.
  2. Under the 'Top-up' tab, select the policy number in which you wish to do a Top-up and enter your payment details.
  • Our Branches: Fill in your details in the  Top-Up section of this form and submit it at any of our branches with a cheque of the top-up amount. Top-Up details have to be filled on Page 2 of the form.

To locate the nearest branch, click here.  If you submit your Top-up request on a working day(day when markets are open) before 3:00pm, then it will be processed  as per the Net Asset Value(NAV) declared on the day. If it is submitted after 3:00pm or on a day when markets are closed, then it will processed on the next working day.

Every year in the month that you have purchased your policy, we send you a policy/unit statement with details of the funds linked to your policy. It also has details of the transactions done on your policy. For e.g. If you have purchased your policy in March 2005, this statement will be emailed/ sent to you every year in March till the end of your policy term. This statement is also sent to you if you have done a transaction such as a fund switch, top up on your policy.

To view or download your policy/unit statement, click here and enter your policy number and date of birth.

You can also get your policy/unit statement through any of these options:

  1. Once you login, click on the 'Statements' tab.
  2. Under 'Statements' tab, click on 'Policy/Unit Statement' and select your policy number.
  • Call us: You can call us on 1860 266 7766 from Monday to Saturday, 10AM to 7PM and we will accept your request on call after verifying your policy details. NRI customers can call us on +912261930777.
  • Our Branches: You can request for your policy/unit statement at any of our branches. To locate the nearest branch, click here.
  • Email us: You can send us an email request at lifeline@iciciprulife.com from your registered email id. Do mention your policy number in the subject line.

Partial withdrawal is a feature through which you can withdraw a certain amount of your fund value, from your unit linked insurance policy. The amount that you can withdraw will depend on your policy. Please refer to partial withdrawal section of your policy document for more details.

To do a partial withdrawal from your policy, you can visit any of our branches with the following documents:

  1. Policy Document
  2. Signed Copy of Photo Identity Proof of the policy holder, i.e. PAN Card, Aadhaar Card etc. Please carry an original copy of the identity proof.
  3. Cancelled Cheque of the Bank account in which you wish to receive the withdrawal amount. Please ensure that your name is printed on the cheque.

To locate the nearest branch, click here.

Once we receive your request, we will process it within 8 working days and send you a confirmation.

Comp/doc/Nov/2017/0506

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