ULIPs or United Linked Insurance Plans are an ideal investment option for your long-term financial goals. These instruments offer the optimum combination of investment and insurance. ICICI Pru LifeTime Classic is one such plan that offers you the opportunity to decide your premium amount and payment options, select a sum assured, and choose an appropriate portfolio strategy - all as per your specific needs.

Here are eight reasons why you should invest in the ICICI Pru LifeTime Classic plan:

1. Choice of four portfolio strategies1

The ICICI Pru LifeTime Classic plan gives you four different strategies1 to choose from, as per your investment preference:

  • Target asset allocation strategy1: You have the freedom to pick two investment funds as per your risk tolerance and financial objectives. You can also rebalance your portfolio on a quarterly basis to ensure your asset allocation is always as per your preference
  • Trigger portfolio strategy1: The plan uses the ‘Buy low-Sell high’ tactic to allocate your premium across two chosen funds. This helps you take advantage of the market swings more effectively
  • Lifecycle-based portfolio strategy1: In this strategy, your age and life stage determine your portfolio allocation. As you move from one age band to another, your funds are re-distributed and optimally balanced in equity and debt to create an ideal portfolio aligned with your age
  • Fixed portfolio strategy1: You get an option to choose from nine equity, three debt and three balanced funds to create a portfolio aimed at maximising returns over the policy term. You can invest in any of these funds in proportions of your choice
  • Make saving a habit: Try to make saving a part of your life. Once it becomes a habit, you will no longer need to go out of your way to save money. You will automatically think about your financial future and the well-being of your family

2. Choice of protection level

With the ICICI Pru LifeTime Classic plan, you can select the sum assured as per your needs and financial budget. You have the flexibility to choose the premium payment mode, the tenure and the sum assured as per your need. You can also modify the sum assured of your ULIP during the policy period.

3. Choice of funds to invest

When you invest in ICICI Pru LifeTime Classic, you get a wide variety of funds – equity, balanced, and debt – to select from as per your goals and risk appetite. You also have the freedom to switch between these funds anytime to get potentially higher returns.

4. Free fund switches

ICICI Pru LifeTime Classic gives you the flexibility to change your fund allocation anytime during the policy tenure to get better returns. You are allowed four free switches in a policy year.

5. Additional protection

You can enhance your policy coverage by opting for add-on riders like the Accidental Death Rider. Under this rider, the nominee gets extra coverage, in addition to the life cover~, in case of an unfortunate event due to an accident.

6. Loyalty additions^

If you stay invested for long and regularly pay all your premiums, the ICICI Pru LifeTime Classic policy rewards you with loyalty additions^ by regularly allocating extra units from the sixth year of the purchase of the policy.

7. Wealth boosters^

If you pay your premiums and stay invested, you get wealth boosters^ in the form of extra units that are added to your policy every five years starting from the end of the 10th policy year.

8. Tax benefits*

Premiums paid for the ICICI Pru LifeTime Classic plan are eligible for deduction under Section 80C of the Income Tax Act, 1961. Thus, you can save up to ₹ 46,800/- in taxes* every year. The payouts are also exempted from tax* under Section 10(10D) subject to conditions mentioned therein.


With the ICICI Pru LifeTime Classic plan, you get complete financial protection for your loved ones along with an opportunity to create potentially greater wealth for the future.

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1 The Policyholder can have funds in only one of the Portfolio Strategies.

* Tax benefit of ₹ 46,800/- is calculated at the highest tax slab rate of 31.2% (including Cess excluding surcharge) on life insurance premium under Section 80C of ₹ 1,50,000/-. Tax benefits under the policy are subject to conditions under Sections 80C, 80D, 10(10D), 115BAC 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.

~Life Cover is the benefit payable on death of the life assured during the policy term.

^The Company will allocate extra units as below provided all due premiums have been paid:

Premium payment term Loyalty Additions Wealth Boosters
(End of year 6 and 7) (End of year 8 and onwards) (End of every 5th year, starting from the end of 10th policy year)
5 years – 6 years 0.10% 0.10% 1%
7 years – 9 years 0.15% 0.30% 1%
10 years and above 0.15% 0.30% 2%
Single Pay 0.25% 0.25% 1.5%
  • o For single pay policies with a policy term of 5 years, a loyalty addition of 0.25% of the average of daily Fund Values, including Top-up Fund Value, if any, in that same policy year, will be payable at the end of the fifth policy year.

  • o Each Loyalty Addition will be a percentage of the average daily Fund Values including Top-up Fund Value, if any, in that same policy year as mentioned in the table above.

  • o Wealth Boosters will be a percentage of the average Fund Values including Top-up Fund Value, if any, on the last business day of the last eight policy quarters.

  • o Loyalty Additions and Wealth Boosters 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.

  • o The allocation of Loyalty Additions and Wealth Boosters is guaranteed and shall not be revoked by the Company under any circumstances.

  • o If the premium payment is discontinued anytime after 5 years, the number of years for which premiums have been paid will be considered as the premium paying term for the purpose of deciding the Loyalty Additions & Wealth Boosters to be paid for the rest of the policy term as per the table above.

ICICI Pru LifeTime Classic (unit-linked non-participating individual life insurance plan) - UIN:


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