ICICI Pru Save N Grow
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Wealth Creation

Unit Linked Insurance Plan

Growth bhi,
Protection bhi


Life Cover1 up to 125x of Annual Premium


Market-linked returns to create wealth

Get Maturity Booster5 @ 20% added to your fund
Enhanced life cover1
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Additional protection with riders7
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Earn market-linked returns
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Tax benefits*
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+4 more benefits

ICICI Pru Protect N Gain Calculator

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Recommended For

Term Plan Seekers
Term Plan Seekers
Comprehensive Protection Seekers
Comprehensive Protection Seekers
Tax Savers
Tax Savers
Balanced Investor
Balanced Investor
Retirement Planners
Retirement Planners
Young Parents
Young Parents
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Term Plan Seekers
People in the market who are looking for a financial instrument that protects their loved ones in their absence and has the potential to return~ more than their premium amount paid on maturity
Comprehensive Protection Seekers
People in the market who want to ensure complete financial protection for their family with large life cover1L, while also seeking additional protection against accidental death and disability.
Tax Savers
Those who want to enjoy tax* benefits on premiums paid with savings up to ₹46 800/year subject to conditions u/s 80C and on market linked returns~ received u/s 10(10D). The death benefit received by the nominee on demise of the insured person is exempt from tax under Section 10(10D)
Balanced Investor
Investors who would like to diversify their portfolio can choose from multiple equity, balanced and debt fund options with unlimited free switches6, and potential to gain market-linked returns~ at a relatively low risk.
Retirement Planners
Salaried individuals looking for a long-term investment to build a corpus for their retirement can get tax*-benefits on market-linked returns~
Young Parents
Young, salaried parents who are looking for adequate coverage and financial security for their child can get life cover1 up to ₹ 40 crore (depending on financial eligibility). They can also earn regular income through the Systematic Withdrawals3 feature and secure their child’s future with a lump sum market-linked return~ receivable on maturity.
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What is ICICI Pru Protect n Gain?

ICICI Pru Protect N Gain is a protection-oriented, unit-linked savings life insurance plan, designed to secure your family with a high life cover1 and grow your wealth with market-linked returns, to fulfil your long-term goals. This plan is a one-stop solution for your Insurance and Investment needs, which can help you live stress-free and protect your family’s life goals, no matter what.

How does the plan work?

Plan Snapshot

Return of charges


Return of charges4 from 11th year onwards.

Comprehensive protection

Life cover1 , Accidental Death & Disability Cover

Fund Options

22 funds across all fund classes

Min. Investment

₹40,000 p.a.

Maturity Booster5

20% additional units to boost your fund value at maturity

Premium Payment Term Options

Limited / Regular Pay

Tax Savings

Tax benefit* on premiums paid and tax-free* claims payout and returns.

Fund Switches

Unlimited free fund switches6

Wealth Creation Story

Praneet’s Story
Nitin’s Story
Meet Praneet
He is a 35-year oldMarketing Professional

He invests in

Savings plan with market-linked returns to help him build wealth
Policy Term - 40 years
Life Cover - ₹50 Lakh
Accidental Death Cover - ₹50 Lakh
Accidental Disability Cover - ₹50 Lakh

Maturity Booster5

ICICI Prudential Life adds 20% extra at the end of the policy maturity to boost your fund value

Pays premium of ₹45,088` p.a. for 40 years

₹14.49 Lakh

Tax saving

On premium paid Praneet can claim tax benefits of ₹5.6 Lakh under section 80C in 40 years
maturity icon

₹92.34 Lakh

Total maturity amount

maturity icon

₹23.2 Lakh

Tax Savings On maturity

maturity icon

₹22.56 Lakh

Return of charges

ARR (Assumed Rate of Return) refers to the standard assumption for the rate of return of 8% and 4%, as specified by IRDAI. This is just an illustration and not indicative of the actual returns you may get. Please look at our fund performance below to track the actual returns.

Loading Fund Performance...

The above mentioned benchmark is the benchmark used by the company to track the performance of the funds.

How to maximize your returns?

1 Investing Early icon

Start Investing Early

2 Pay Premiums icon

Pay premiums regularly

3 Right Asset Steps icon

Right Asset Allocation

4 Fund Switches Lock icon

Make fund switches to safeguard your gains

Buy Online in 3 simple steps

Step 1
Choose premium amount
Step 2
Select your choice of funds
Step 3
Fill Application form & Make Payment
Policy Issued

Need Help? Call us Today


Why choose ICICI Prudential Life?

7.71 Crore
Lives covered as on
March 31, 2023T
Benifits Like
₹2.36 Lakh Crore
Benefits paid till
March 31, 2023`
Diamond Asset Management
₹2.50 Lakh Crore
Assets under
management as on
March 31, 2023^^
1 Day<
Claim Settlement

Frequently Asked Questions

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How is this plan different from traditional ULIP plan?

A ULIP plan offers protection upto 10 times of the annualized premium. ICICI Pru Protect N Gain provides the opportunity to offer protection of upto 100 times of the annualized premium along with the wealth creation through market linked returns.

Key Terminology

Sum Assured

Fund value

Net Asset Value (NAV)


Death benefit

Maturity benefit


Lock-in period

Switching option

ULIP returns


ULIP charges

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Sum Assured
The nominee of the policy is liable to receive a fixed amount in case of the demise of the policy holder during the policy term. This amount is called the Sum Assured. When purchasing a ULIP, you must ensure that the Sum Assured you opt for is sufficient for your dependents to continue with their lives in case something happens to you.
Fund value
The premiums you pay in a ULIP are invested in funds, which grow over time. The fund value indicates the total value of your fund on the current date. This is calculated by multiplying the number of units you own by the Net Asset Value (NAV) or the monetary value of each unit.
Net Asset Value (NAV)
In a ULIP, Net Asset Value (NAV) means the value of a single unit of your investment. An investment fund, which is a pool of investments from multiple investors (minus any liabilities), is divided by the number of outstanding units. The NAV of a fund is therefore the price of a single unit.
Premiums are the payments you make towards your plan. As an investor, you can pay premiums monthly, quarterly, half-yearly, or annually as per the mode selected by you while investing. Failure to pay the premiums on time may lead to the lapse of the ULIP Policy.
Death benefit
The death benefit is the total amount payable to the nominee by the insurance company on the policyholder’s unfortunate demise. It can either be the sum assured or the fund value, whichever is higher. What your beneficiary gets would depend on the plan you opt for. The nominees can obtain the death benefit either as a lump-sum or in monthly instalments.
Maturity benefit
Maturity benefit is offered to the policyholder when the policy tenure gets over. You can avail tax-free* maturity amount as per Section 10 (10D) of the Income Tax Act 1961, subject to the provisions stated therein.
Riders or add-ons are the additional benefits provided by insurance companies, which enhance the value of the coverage. Typically, the most common riders offered are critical illness rider, waiver of premium rider, accidental cover, and so forth. However, these riders vary depending upon the company.
Lock-in period
Lock-in period is a stipulated time till which you cannot withdraw your investments. In case of ULIP, if a policyholder surrenders the policy before the completion of the lock-in period, the fund value is shifted to a discontinuation fund. The policyholder can withdraw the amount once the lock-in period is over. A ULIP has a lock-in period of 5 years.
Switching option
A ULIP plan allows an individual to invest in multiple fund options at the same time. However, the policyholders also have the freedom to switch between these ULIP funds. The number of switches allowed depends on the company’s policies. ICICI Pru’s Protect-N-Gain plan allows unlimited free switches7 between funds.
ULIP returns
The returns of a ULIP policy depend upon the performance of the market as well as your fund selection. One needs to stay invested for long term to be able to maximise their returns.
As the name suggests, the top-up premium is an additional amount paid over base premium. If a ULIP policyholder wants to increase the amount of his/her investment in funds, he/she can do so through top-ups.
ULIP charges
Insurance companies levy certain charges on a ULIP. Under a ULIP, a few of the levied charges are as follows:
  1. Policy administration charge
  2. Fund management charge
  3. Mortality charge
  4. Premium allocation charge
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