ICICI Pru1 Wealth - Single premium plan
Do MORE with just ONE payment.
Do MORE with just ONE payment.
The Linked Insurance Products do not offer any liquidity during the first five years of the contract. The policyholder will not be able to surrender or withdraw the monies invested in Linked Insurance Products completely or partially till the end of the fifth year.
What Is Single-Premium Life Insurance
Single-premium life insurance is a type of life insurance plan where the policyholder makes a one-time lump sum payment at the beginning of the policy term. The insurance coverage2 continues for the entire duration of the policy.
A single premium policy is a hassle-free way to financially secure your loved ones in the future and ensure you do not have to pay multiple premium payments to the insurer.
COMP/DOC/Jan/2024/81/5162
Single premium plan that 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 multiple Fund choices in equity Funds, debt Funds and balanced funds 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 tax3 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
HOW IT WORKS
On maturity, Ashok will get returns according to the performance of the 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
| Assumed investment returns → | @ 4% ARR` | @ 8% ARR` |
| Fund Value at Maturity → | `1,21,755/- | `1,81,826/- |
`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)
In case of Ashok's death during the policy term, Ashok's nominee will receive the death benefit as a lump sum payout.
| Year of death | Death Benefit paid out to the nominee | |
|---|---|---|
| @ 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.
~T&Cs Apply
On maturity, Divya will get returns according to the performance of the 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
| 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)
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 | Death Benefit paid out to the nominee | |
|---|---|---|
| @ 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.
~T&Cs apply
4 SIMPLE STEPS TO BUY ONLINE
PERFORMANCE OF FUNDS^
| Fund Name (As on ) | Returns (p.a.) | Returns (p.a.) |
Inception Date |
|||||
|---|---|---|---|---|---|---|---|---|
| 1 Year | 2 Year | 3 Year | 4 Year | 5 Year | Since Inception | |||
EQUITY - High Growth & Risk | ||||||||
| Maximiser V Fund | ||||||||
| Value Enhancer Fund | ||||||||
| Multi Cap Growth Fund | ||||||||
| Sustainable Equity Fund | ||||||||
| Multicap 50 25 25 Index Fund | ||||||||
| MidSmall Cap 400 Index Fund | ||||||||
| MidSmallCap 400 Momentum Quality 100 Index Fund | ||||||||
| Smallcap 250 Momentum Ǫuality 100 Index Fund | ||||||||
| India Consumption Fund | ||||||||
BALANCED - Growth & Safety | ||||||||
| Multi Cap Balanced Fund | ||||||||
| Balanced Advantage Fund | ||||||||
DEBT - Returns & Security | ||||||||
| Secure Opportunities Fund | ||||||||
| Income Fund | ||||||||
| Money Market Fund | ||||||||
Please note: NA: Fund has not completed the stipulated time period
Past performance is not indicative of future performance.
THINGS YOU NEED TO KNOW
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?
With ICICI Pru1 Wealth you can invest with a policy term of 10 years, 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 `1,00,000/- 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: 15 years
Maximum age at entry: 60 years
How much Life Cover2 I will get?
Age at entry last birthday |
Minimum Sum Assured |
Maximum Sum Assured |
| <= 40 years | 1.25 times Single Premium | 10 times Single Premium |
| 41 to 49 years | 1.25 times Single Premium | 5 times Single Premium |
| ≥ 50 years | 1.10 times Single Premium | 1.25 times Single Premium |
What is an 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 an Income Fund or Money Market Fund and transfer a fixed amount in regular monthly instalments into any one of the following funds: Maximiser V, Multi Cap Growth Fund, Value Enhancer Fund, Balanced Advantage Fund or Sustainable Equity 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 instalments in not more than 12 monthly instalments.
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:
- 1. The minimum Top-up premium is ₹ 2,000/-
- 2. 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
- 3. Top-up premiums can be paid any time except during the last five years of the policy term, subject to underwriting
- 4. A lock-in period of five years would apply for each Top-up premium for the purpose of partial withdrawals only
- 5. At any point during the term of the policy, the total Top-up premiums paid cannot exceed the base premium of the policy
- 6. 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/-.
What can be the maximum tenure for ICICI Pru1 Wealth single premium life insurance policy?
The maximum tenure for ICICI Pru1 Wealth single premium policy is ten years.
Is single premium life insurance taxable?
A single premium policy offers tax3 benefits on the premium paid under Section 80C3 of the Income Tax Act, 1961. You can also avail tax 3 benefits on the amount received at the end of the policy term under Section 10(10D)3.
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