What is Systematic Withdrawal Plan (SWP)?

SWP allows you to withdraw a pre-determined percentage of your fund value regularly. This can help you to meet specific needs such as child’s education or money for day-to-day expenses during retirement.

When can I do partial withdrawals?

Partial withdrawals are allowed only after the first five policy years and on payment of all premiums for the first five policy years.

What is the age eligibility to do partial withdrawals?

Partial withdrawals are allowed only if the Life Assured is at least 18 years of age.

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IN ULIPS, THE INVESTMENT RISK IN THE INVESTMENT PORTFOLIO IS BORNE BY THE POLICYHOLDER.

Unit Linked Insurance Plan

Q: 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.

Q: Can riders be opted along with this plan?

Yes, ICICI Pru Protect N Gain comes with the Accidental Death and Disability Rider. Please read the rider brochure to know more details.

Q: What are the tax benefits under this policy?

You can avail tax benefits on the premiums you pay towards this plan and the benefit you receive subject to conditions under section 80C,10(10D) & other provisions of the Income Tax Act, 1961.

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

Additional protection with riders⁷

Earn market-linked returns

Tax benefits^*

+4 more benefits

ICICI Pru Protect N Gain Calculator

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Education

Graduate & above

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Mandatory Field

Recommended For

Term Plan Seekers

Comprehensive Protection Seekers

Tax Savers

Balanced Investor

Retirement Planners

Young Parents

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 cover^1L, 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.

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

Charges

Return of charges⁴ from 11^th year onwards.

Comprehensive protection

Life cover¹ , Accidental Death & Disability Cover

Fund Options

21 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

8% ARR4% ARR

₹92.34 Lakh

Total maturity amount

₹23.2 Lakh

Tax Savings On maturity

₹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?

Start Investing Early

Pay premiums regularly

Right Asset Allocation

Make fund switches to safeguard your gains

Buy Online in 3 simple steps

Choose premium amount

Select your choice of funds

Fill Application form & Make Payment

Policy Issued

Need Help? Call us Today

1800-209-9777

Why choose ICICI Prudential Life?

7.71 Crore

Lives covered as on
March 31, 2023^T

₹2.36 Lakh Crore

Benefits paid till
March 31, 2023^`

₹2.50 Lakh Crore

Assets under
management as on
March 31, 2023^{^^}

1 Day^<

Claim Settlement

Frequently Asked Questions

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.

Can riders be opted along with this plan?

How is my premium going to get split?

To understand the premium split, let’s take example of a 30-year-old healthy male customer who has chosen a ₹ 50 lakh life cover¹ with regular annual premium payment term of 30 years.

	Yearly Premium	GST	Total Amount
Yearly Base Premium	40,000	0	40,000
Yearly Rider Premium	5,088	915	6003
Total Premium	45,088	915	46,003

Taking example of the above Premium Breakup, customer paid ₹45,088 p.a. without taxes, of which ₹5,088 p.a. is rider premium i.e. premium for accidental death⁷ cover and accidental permanent disability⁷ cover.

Rest of the amount i.e. ₹40,000 p.a. (written as base premium) gets invested in funds of customer’s choice through Protect N Gain after deducting Premium allocation charges. You may refer to EBI: Part B table on page 5 for detailed explanation.

Now, from fund only, units are deducted for mortality charge, policy administration change, FMC charge, etc. (all this is standard in any ULIP) and are returned as double/quadruple later during policy term.

When will I get the refund of deducted charges?

Why should I buy Protect N Gain from online?

What are the tax benefits under this policy?

Key Terminology

Sum Assured

Fund value

Net Asset Value (NAV)

Premium

Death benefit

Maturity benefit

Riders

Lock-in period

Switching option

ULIP returns

Top-ups

ULIP charges

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.

Premium

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

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.

Top-ups

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:

Policy administration charge
Fund management charge
Mortality charge
Premium allocation charge

Disclaimer

¹Life cover is the benefit payable on death of the life assured during the policy term. Death Benefit will be highest of:

Sum Assured, including Top-up Sum Assured, if any
105% of the total premiums paid
Fund Value including the Top-up Fund Value, if any

²The premium ₹3,846 p.m. is calculated for a 30-year-old healthy male with the monthly mode of payment, premiums paid regularly for the policy term of 40 years and life cover of ₹50 lakh. The premium shown is inclusive of taxes and the mentioned benefit is payable only if all premiums are paid as per the premium paying term and the policy is in force till the completion of entire policy term opted.

⁺The sum assured multiple in ICICI Pru Protect N Gain is calculated basis the chosen life cover, life assured’s age, premium payment term and policy term. The highest available sum assured multiple is 125 in the product.

^*Tax benefits under the policy are subject to conditions under Sections 80C, 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

^{^}The premium ₹7,694 p.m. is calculated for a 30-year-old healthy male with the monthly mode of payment, premiums paid regularly for the policy term of 40 years and life cover of ₹1 crore. The premium shown is inclusive of taxes and the mentioned benefit is payable only if all premiums are paid as per the premium paying term and the policy is in force till the completion of entire policy term opted.

^~Maturity benefit is policy fund value, including top up fund value, if any. On payment of maturity benefit, the policy terminates.

^~!The premium ₹8,886 p.m. is calculated for a 30-year-old healthy male with the monthly mode of payment, premiums paid for 10 years for the policy term of 30 years and life cover of ₹1 crore. The premium shown is inclusive of taxes and the mentioned benefit is payable only if all premiums are paid as per the premium paying term and the policy is in force till the completion of entire policy term opted.

^1LThe premium ₹36,411 p.m. is calculated for a 30-year-old healthy male with the monthly mode of payment, premiums paid regularly for the policy term of 40 years, life cover of ₹5 crore, accidental death cover of ₹3 crore and accidental disability cover of ₹ 3 crore. Total cover is of ₹ 11 crore. The premium shown is online and inclusive of taxes. Maturity benefit at 8% ARR is ₹8.9 Cr and at 4% ARR it is ₹3.8 Cr. The mentioned benefit is payable only if all premiums are paid as per the premium paying term and the policy is in force till the completion of entire policy term opted.

^{^b}The premium ₹15,385 p.m. is calculated for a 41-year-old healthy male with the monthly mode of payment, premiums paid regularly for the policy term of 40 years, life cover of ₹2 crore, accidental death cover of ₹ 2 crore and accidental disability cover of ₹ 2 crore. Total cover is of ₹ 6 crore. The premium shown is inclusive of taxes and the mentioned benefit is payable only if all premiums are paid as per the premium paying term and the policy is in force till the completion of entire policy term opted.

^{^a}The premium ₹11,539 p.m. is calculated for a 41-year-old healthy male with the monthly mode of payment, premiums paid regularly for the policy term of 40 years, life cover of ₹1.5 crore, accidental death cover of ₹ 1.5 crore and accidental disability cover of ₹ 1.5 crore. Total cover is of ₹ 4.5 crore. The premium shown is inclusive of taxes and the mentioned benefit is payable only if all premiums are paid as per the premium paying term and the policy is in force till the completion of entire policy term opted.

³Systematic Withdrawal Plan is allowed only after the first five policy years.

⁴Starting from the 11th policy year, you will receive 2X/4X of return of mortality and 2X of policy administration charges (excluding taxes), at the beginning of each month, till the end of the policy term. These will be added in the form of units to the Fund Value.

⁵At policy maturity, an addition, known as Maturity Booster in the form of extra units (Units mean a specific portion or part of the Unit Linked Fund(s) in which you have saved your money) will be made to boost your Fund Value. This Maturity Booster will be equal to 20% percentage of the average of the Fund Values including Top-up Fund Value, if any, on the last business day of the last eight policy quarters.

⁶Switches are only applicable for fixed portfolio strategy and not applicable for other portfolio strategies.

⁷Available through mandatory rider ‘ICICI Pru Linked Accidental Death and Disability Rider’. Please refer to the rider brochure for more details.

⁸The onboarding process of ICICI Pru Protect N Gain is on basis of income documentation with minimum declared income requirement of 3L, video medicals up to age 45, minimum education of HSC. These are the current underwriter guidelines and are subject to change.

^`Premiums are exclusive of taxes.

^<1 Day is a working day, counted from the date of receipt of all relevant documents from the claimant, additional information sought by the Company and any clarification received from the claimant. The Company will be calling the claimants for verification of information submitted by the Claimant which will also be considered as part of relevant documents. Working day will be counted as Monday to Friday and excluding National holidays /Bank holidays/Public holidays.

a) All due premiums in the policy have been paid and the policy has been active for 3 consecutive years preceding life assured’s death.

b) Mandatory documents to be submitted at Branch Office- Claimant statement form, Original policy certificate, Copy of death certificate issued by local authority, AML KYC documents- Nominee’s recent photograph ,Copy of Nominee’s pan card, Nominee’s current address proof, photo identity proof, Cancelled cheque/ Copy of bank passbook, Copy of medico legal cause of death, Medical records (Admission notes, Discharge / Death summary, Test reports, etc.), For accidental death - Copy of FIR, Panchnama, Inquest report, Postmortem report, Driving license.

c) Total claim amount of all the life policies held by the Life Assured <= ₹1.5 Crore.

d) Claim does not require any on-ground investigation

1 Day is a working day, counted from date of receipt of all relevant documents from the claimant, additional information sought by the Company and any clarification received from the claimant. The Company will be calling the claimants for verification of information submitted by the Claimant which will also be considered as part of relevant documents. Working day will be counted as Monday to Friday and excluding National holidays/Bank holidays/Public holidays. Interest shall be at the bank rate that is prevalent at the beginning of the financial year in which death claim has been received. In case of breach in regulatory turnaround time, interest will be paid as per IRDAI regulations. Under ULIP policies, if claim is submitted prior to 3 pm then the claim will be considered under Claim For Sure on the same day. If claim is submitted post 3pm or if the policy is inactive at the time of claim notification then the claim will be considered under Claim For Sure the next day as per availability of NAV.

Unit 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 Unit Linked Insurance Products completely or partially till the end of the fifth year.

Unit Linked products are different from traditional insurance products and are subject to the risk factors.

The premium paid in ULIPs are subject to investment risks associated with capital markets and the NAVs of the units may go up or down based on the performance of fund and factors influencing the capital market and the insured is responsible for his/ her decisions.

ICICI Prudential Life Insurance is only the name of the Life Insurance Company and ICICI Pru Protect-N-Gain is only the name of the unit linked insurance product and does not in any way indicate the quality of the product, its future prospects and returns.

Please know the associated risks and the applicable charges, from your Insurance agent or the Intermediary or policy document issued by the Insurance company.

The various funds offered under this product are the names of the funds and do not in any way indicate the quality of these plans, their future prospects and returns.

Fund names	SFIN
Bluechip Fund	ULIF 087 24/11/09 LBluChip 105
Focus 50 Fund	ULIF 142 04/02/19 FocusFifty 105
India Growth Fund	ULIF 141 04/02/19 IndiaGrwth 105
Maximise India Fund	ULIF 136 11/20/14 MIF 105
Maximiser Fund V	ULIF 114 15/03/11 LMaximis5 105
Mid Cap Fund	ULIF 146 28/06/22 MidCapFund 105
Multi Cap Growth Fund	ULIF 085 24/11/09 LMCapGro 105
Opportunities Fund	ULIF 086 24/11/09 LOpport 105
Sustainable Equity Fund	ULIF 145 03/06/21 SustainEqu 105
Value Enhancer Fund	ULIF 139 24/11/17 VEF 105
Mid Cap Index Fund	ULIF 149 050723 McIndxFund 105
Mid Cap 150 Momentum 50 Fund	ULIF 151 180124 McMomentum 105
Multicap 50 25 25 Index Fund	ULIF 152 220224 MultiCapIF 105
Active Asset Allocation Balanced Fund	ULIF 138 15/02/17 AAABF 105
Balanced Advantage Fund	ULIF 144 03/06/21 BalanceAdv 105
Multi Cap Balanced Fund	ULIF 088 24/11/09 LMCapBal 105
Mid Cap Hybrid Growth Fund	ULIF 147 050123 MCHybrdGrt 105
Constant Maturity Fund	ULIF 148 050123 ConstntMat 105
Income Fund	ULIF 089 24/11/09 LIncome 105
Secure Opportunities Fund	ULIF 140 24/11/17 SOF 105
Money Market Fund	ULIF 090 24/11/09 LMoneyMkt 105

COMP/DOC/Aug/2023/168/3787

ICICI Prudential Life Insurance Company Limited. IRDAI Regn No. 105. CIN: L66010MH2000PLC127837. ICICI PruLife Towers, 1089, Appasaheb Marathe Marg, Prabhadevi, Mumbai-400025. For more details on the risk factors, terms and conditions, please read the sales brochure carefully before concluding a sale. For enquires related to new policies purchased online, please call us on 1-800-266-7766 and select option 4 on our Interactive Voice System. Trade Logo displayed above belongs to ICICI Bank Ltd & Prudential IP services Ltd and used by ICICI Prudential Life Insurance Company Ltd under license. ICICI Pru Protect N Gain UIN: 105L191V02. Advt No: W/II/1511/2023-24. ICICI Pru Accidental Death and Disability Rider UIN: 105A043V01.

BEWARE OF SPURIOUS / FRAUD PHONE CALLS!

IRDAI is not involved in activities like selling insurance policies, announcing bonus or investment of premiums. Public receiving such phone calls are requested to lodge a police complaint.

Plan Benefits

How does the plan work?

FAQ’s

Unit Linked Insurance Plan

Growth bhi,Protection bhi

ICICI Pru Protect N Gain Calculator

Recommended For

What is ICICI Pru Protect n Gain?

How does the plan work?

Plan Snapshot

Charges

Comprehensive protection

Fund Options

Min. Investment

Maturity Booster5

Premium Payment Term Options

Tax Savings

Fund Switches

Wealth Creation Story

Loading Fund Performance...

How to maximize your returns?

Start Investing Early

Pay premiums regularly

Right Asset Allocation

Make fund switches to safeguard your gains

Buy Online in 3 simple steps

Need Help? Call us Today

Why choose ICICI Prudential Life?

Frequently Asked Questions

How is this plan different from traditional ULIP plan?

Can riders be opted along with this plan?

How is my premium going to get split?

When will I get the refund of deducted charges?

Why should I buy Protect N Gain from online?

What are the tax benefits under this policy?

Key Terminology

Sum Assured

Fund value

Net Asset Value (NAV)

Premium

Death benefit

Maturity benefit

Riders

Lock-in period

Switching option

ULIP returns

Top-ups

ULIP charges

Disclaimer

Growth bhi,
Protection bhi

Maturity Booster⁵