What are Unit Linked Insurance Plans (ULIPs)?

ULIPs are insurance plans that help you save for your goals while providing Life Cover.  In most wealth plans, you pay your premiums for a certain time period. Once your policy term ends, you receive a lump sum amount called the Maturity Benefit. Moreover, in case of an unfortunate event during the term of the policy, your family receives an amount called the Sum Assured.

ULIPs are a type of ‘Protection + Savings’ plans. They combine the benefits of protection and saving in a single instrument. The major advantage that a ULIP has over the traditional wealth creation tools is the benefit of a Life Cover. As a result, your money continues to grow and at the same time, your loved one’s future is protected from life's unexpected turns.


No matter what your need is, we have a solution

Take a look at the wide range of Unit Linked Insurance Plans that we offer:

Achieve your dreams with the best of both worlds - the potential for high returns without the risk of losing your money*.

  • Guarantee on the money you invest
  • Premium Payment as per your comfort
  • Rewards of Wealth Boosters and Loyalty Additions for long term investments
  • Safety of a Life Cover

With ICICI Pru Smart Life

A plan that grows your investments and secures the educational milestones of your children

  • Easy access to your money
  • Choice of lump sum pay-out and waiver of premium
  • Rewards of Wealth Boosters and Loyalty Additions for long term investments

You have always strived for special things that offer the best value for your money. This plan helps you take care of your finances along with offering a Life Cover.

  • Choice of investment strategy to suit your needs
  • Rewards of Wealth Boosters and Loyalty Additions for long term investments
  • Enjoy the safety of a Life Cover based on your desired level of protection

This plan is designed keeping ‘you’ in mind & offers unmatched customisations to suit your unique needs while offering the protection of a Life Cover.

  • Premium Payment as per your comfort
  • Customise your investment strategy to suit your needs
  • Enjoy the safety of a life cover based on your desired level of protection

A plan that safeguards your family’s future with the promise of continued wealth creation, even when you are not around.

  • Choice of investment strategy to suit your needs
  • Security of your loved ones with premium waived in your absence
  • Enjoy the safety of a Life Cover based on your desired level of protection

Fulfill your family’s dreams and desires with the growth potential of equity or debt along with a Life Cover to safeguard their future in your absence.

  • Choice of investment strategy to suit your needs
  • Easy access to your money
  • Enjoy the safety of a Life Cover based on your desired level of protection
  • Rewards of Wealth Boosters and Loyalty Additions for long term investments

*On Maturity, you will receive an amount which is higher of Assured Benefit or fund value. Assured Benefit will be 101% of total premium paid, which is applicable only on maturity of the policy and does not apply on death or surrender.

6 Reasons to buy a ULIP

  • Regular Savings: ULIPs inculcate the habit of regular and disciplined savings, which is the key to successful long-term financial planning. With regular premium payments, you can enjoy the uninterrupted benefits of wealth creation for your loved ones.
  • Protection: ULIPs provide the protective benefit of a Life Cover, which keeps your family secure in your absence.
  • Flexibility of Investment: You will have flexibility and control of your money through the following ways:
        1. Fund Switch – An option to move your money between equity and debt funds
        2. Premium Redirection – An option to invest your future premium in a different fund of your choice
        3. Partial Withdrawal+ – An option that allows you to withdraw a part of your money
        4. Top-up – An option to invest additional money to your existing savings
  • Tax Benefits: You can get tax benefits up to `1.5 lakh on your insurance premiums, under Section 80C. Also, the earnings from your policy and the equity-debt switches are completely tax-free. What’s more, even the money you receive at the end of the policy, also called the Maturity Benefit, is tax-free as per Section 10(10D).
  • Potential for Growth: There is a potential of earning higher returns from the power of equity and debt funds. This will help you achieve your life-goals such as buying a new home, your dream car, funding your child’s higher education and much more.
  • Greater Rewards for Staying Invested**: Your money grows further as the insurance company adds to your savings without the need for you to invest more. Such benefits are called bonuses and are available to you in both ULIPs and Endowment plans in different forms (such as, Loyalty Additions and Wealth Boosters)^.

** These bonuses are added to your savings as a reward for staying invested for a long time.
^Please refer your ULIP policy document for detailed information about Loyalty Additions and Wealth Boosters.
+Partial withdrawals are allowed after the completion of five policy years provided monies are not in DP Fund. You can make unlimited number of partial withdrawals as long as the total amount of partial withdrawals in a year does not exceed 20% of the Fund Value in a policy year. The partial withdrawals are free of cost. DP Funds refer to Discontinued Policy fund and consist of money from lapsed policies.

Why should I start planning my savings now?

  • The earlier you start planning with a ULIP, the earlier your goals can be achieved.
  • It is advisable to be prepared for unforeseen circumstances, and ensure that your loved ones are taken care of, even in your absence.


ICICI Pru Wealth Builder II (UIN: 105L139V01), ICICI Pru Guaranteed Wealth Protector (UIN: 105L143V01), ICICI Pru Smart Kid Solution with ICICI Pru Smart Life (UIN: 105L145V01), ICICI Pru Elite Life II (UIN: 105L141V01), ICICI Pru Elite Wealth II (UIN: 105L140V01), ICICI Pru Smart Life (UIN: 105L145V01)

Unlike traditional products, Unit Linked insurance products are subject to market risk, which affect the Net Asset Values & the customer shall be responsible for his/her decision. The names of the Company, Product names or fund options do not indicate their quality or future guidance on returns. Funds do not offer guaranteed or assured returns.

Tax benefits under the policy are subject to conditions under Section 80C, 80D, 10(10D) and other provisions of the Income Tax Act, 1961. Service tax and applicable cesses will be charged extra, as per prevailing rates. Tax laws are subject to amendments from time to time.


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