Best Investment Plans
  • Guaranteed Tax Savings

    Under sec 80C & 10(10D)
  • Life Cover

    10 times of Annual Premium
  • Zero LTCG Tax

    Unlike 10% in Mutual Funds

*All savings are provided by the insurer as per the IRDAI approved insurance plan. Standard T&C Apply

*Please note that the quotes shown will be from our partners

ICICI Pru1 Wealth

ICICI Pru1 Wealth is a Non-participating, Single Premium Unit Linked Insurance Plan with life insurance cover. In this policy, the risk investment portfolio is borne by the policyholder. Like any other ULIP, the ICICI Pru1 Wealth Insurance Plan does not offer liquidity in the first 5 years.

The insured has the option to invest his whole premium in a wide range of 7 instruments and switch between them. This Savings and Protection Plan helps achieve the insured's life goals while offering financial protection to the insured's family in his absence. 

ICICI Pru1 Wealth Details:

Parameters 

Details 

Policy Tenure

5 and 10 years

Premium Paying Term

Single premium payment 

Premium Paying Mode

Annually 

Entry Age

8-60 years

Maturity Age

18 -70 years

Grace Period

30 Days (15 Days for Monthly Mode)

Sum Assured

Age <= 50 years

Minimum Sum Assured: 1.25 times Single Premium 

Maximum Sum Assured: 10 times Single Premium 

Age >50 years

Minimum Sum Assured:  1.25 times Single Premium

Maximum Sum Assured: 1.25 times Single Premium

Liquidity 

There are no loan options available under this policy.

Benefits of the ICICI Pru1 Wealth Insurance Plan

The following are the key benefits offered under the ICIC Pru1Wealth Insurance Plan:

Maturity Benefit: Upon maturity of the policy, the policyholder will receive the Fund Value along with the Wealth Booster and Top Up Value, if any. The insured can get the amount as a lump sum or in installments through the settlement option. 

Death Benefit: In the unfortunate event of the insured's death during the policy term, the death benefit will be payable to the nominee. The death benefit will be calculated as the highest of:

  • Sum Assured including Top-Up Sum Assured
  • Fund Value including Top-Up Fund Value
  • Minimum Death Benefit

Minimum Death Benefit is calculated as 105% of the single premium and the top-up premium amount (if any) received up to the date.

Wealth Booster Benefit: The Company will allocate the extra units at the end of the policy term provided they are not in the Discontinued Policy Fund. Wealth Booster is calculated as 2.5% of Single Premium for a 5-year policy term and 2.75% of Single Premium, including Top-up premiums minus any partial withdrawals for the 10-year policy term.

Settlement Option: The insured has the option to receive Maturity Benefit as a lump sum or a structured payout using the Settlement Option yearly, half-yearly, monthly, or quarterly. 

Partial Withdrawal Benefit: Unlimited Partial withdrawals are allowed for ten years after completion of 5 policy years as long as the number of partial withdrawals in a year does not exceed 20% of Fund Value in a year. Partial withdrawals are made from the Top-up Fund Value.

Surrender Benefit: If the policyholder intends to surrender the policy in the first 5 policy years, the Fund Value with the Top-up Fund Value (if any) shall be transferred to the Discontinued Policy Fund or the DPF, less applicable charges. The insured /nominee will be entitled to the Surrender Benefit on lock-in period expiry or death of the insured, whichever is earlier.  

Tax Benefit: The premiums paid and the benefits received through the ICICI Pru1 Wealth Insurance Plan are eligible for tax benefits under Section 10(10D) and Sec 80 C of the Income Tax Act, 1961*.

*Tax benefit is subject to changes in tax laws

The Premium for ICICI Pru1 Wealth Insurance Plan

  • Minimum Single Premium: Rs. 50,000
  • Maximum Single Premium: Unlimited 

Additional Riders for ICICI Pru1 Wealth Insurance Plan

There are no riders that can be availed of under this policy.

Eligibility for ICICI Pru1 Wealth Insurance Plan

Entry Age: 8 -60 years 

Maturity Age: 18 -70 years 

What are the documents required to buy this policy?

To buy ICICI Pru1 Wealth Insurance Policy, applicants must provide:

Necessary documents showing identity proof, address proof, and income proof, like,  AADHAR card, Passport or Driver's License, salary slips, and ITRs.

How to buy this plan online?

The applicant must follow the below steps to buy an online ICICI Pru1 Wealth Insurance plan:

Step 1: First, the applicant must enter his details such as age, health information, and coverage required.

Step 2: The ICICI Pru1 Wealth Insurance Calculator will calculate the premium amount and the policy term based on the details entered.

Step 3: The applicant must then select the funds where he wishes to invest the money.

Step 4: He must make premium payments online through the various payment options available.

Step 5: The policy will be confirmed and sent to his email upon verification.

Exclusions of ICICI Pru1 Wealth Insurance Plan

The ICICI Pru1 Wealth Insurance reviews suggest that is has a suicide clause attached to it that states that: 

If the life policyholder commits suicide within 12 months from policy commencement or revival, only the Fund Value, including the Top-up Fund Value(if any) as on date of death, will be payable to the nominee. Charges other than the Fund Management and guarantee charges recovered after the date of death will be added back to the Fund Value as on the date of death.

FAQs

Disclaimer: Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by an insurer.
Average Rating
(Based on 27 Reviews)
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ICICI Pru1 Wealth Reviews & Ratings

4.1 / 5 (Based on 27 Reviews)
(Showing Newest 25 reviews)
Dinesh
Abu_road, March 19, 2019
Quick claim
ICICI Prudential Ulip Plan saved my time and money. I thought it would make me do feverish exercise at the time of claim but it was not that. it provided me quick access to claim funds with quick documentation process.
Karan
Guwahati, October 10, 2016
Ulip Insurance Policy
My ulip insurance policy plan is very nice. It provides me the best service and benefits. I took it from icici prudential insurance company. Policy coverage is ~89% and claims are easy to get by getting help of the executives and staff members of the company.
Manan
Bhowali, August 24, 2016
Good
Ulip insurance plan i bought in low investment from icici prudential life insurance. Service provided by you guys is ultimate. The online renewal facility is the best way to reduce the paperwork which you provides. Policy coverage and claims are high with low premiums.
Tanisha
Firozabad, July 20, 2016
ICICI Insurance Plan
After long search i got ulip plan of icici prudential life insurance. The policy is nice and great returns in less investment. Policy coverage is ~90% and the claims are high which is easy to sanctioned. I purchase this policy for my whole family, really effective and protective plan.
Vibhuti
Jagadhri, July 11, 2016
ULIP Policy
My ulip plan is very good which has many benefits like low premiums and good returns. Policy coverage is good and claims are easy to sanctioned because of quick service provided by the staff members. Service is good and online service is easy to access by anybody.
Geetanjali
Bawal, June 29, 2016
Nice Policy
I purchase ulip insurance plan in low premiums. The policy coverage is good and claims are better. Internet service is good and easy to operate by anyone. It gives hassle free documentations and reduces paperwork.
Lokesh
Agartala, April 15, 2016
Wonderful Policy
The policy coverage is 95%, The claims are high and the claiming is easy because of the executives and the staff members service they provide. The benefits provided by you guys icici prudential ulip policy plans is fantastic. The premiums are less ~34 K and the returns are high ~Rs.40 L.
Vijay
Nilgiris, April 15, 2016
Great Benefits
From icici prudential life insurance i have taken a ulip policy plan for the tenure of 39 years in which we get lumps um amount after the maturity of the policy plan. Policy coverage is 89% of investment. Accident and natural death is inbuilt secure in this policy. Service is fast and on time which is facilitate from staff members.
Aman
Gwalior, April 15, 2016
Awesome
My ulip policy plan is from icici prudential life insurance and the policy is the awesome because the policy has many benefits like the accident insurance is inbuilt in this policy. Policy coverage is high approx. 93% and the premiums are low. Claims are 1.75 times of the investment. The service is fast and very quick. Good policy plan.
Varun
Udyapur, April 15, 2016
slow service issue
One of the most convenient insurance policies provider is icici prudential life insurance ulip policy plan so my investments will be safe. As far as I seen this company is coming generation to generation. Everybody is been benefited with its benefits. Customer service need to be improved as that is bit slow and never on time.
Govinda
Ratlam, April 15, 2016
Quality Investment
I have less idea about the insurance policies and now i purchase icici prudential ulip plan policy the policy is great. Premium for my plan is 35 K thrice per year and at the time of maturity the sum assured might be 48 L. They have daily update so i get numbers of mails from them.
Sanjay
Mithapur, April 15, 2016
Great Policy Plan
I have ulip plan from icici prudential life insurance. The plan works for me from last few year. Policy coverage is also good with claiming amount of Rs.41 L. Service provided by you is awesomely fabulous with fast interface. Good investment.
Tarun
Port_blair, April 15, 2016
Good Deal
My icici prudential ulip plan is good but the only thing is the service is bit slow rest all things are good. Like, policy coverage is 87% and claims are high but the investments are low. Service facilitate from executives and staff members are nice. Good future investment and saves tax too.
Bhavya
Maddur, April 15, 2016
Okay
I buy icici prudential ulip policy plan. The policy premium is good low and the paybacks are high. The policy coverage is 89% and the claims are high. Investment is 46 K per year and the returns are 1.25 times the sum assured. Services you provided by the executives and staff members is good. This policy plan work's for me.
Naveen
Surat, April 15, 2016
Satisfactory Plan
My icici prudential ulip policy plan is nice which have low premiums and the paybacks are high. The policy coverage is good ~91% and the claims are approx. 1.25 times the amount invested. The services is good and on time till date provided by the members. Good future investment which save taxes too. Nice policy.
Akash
Pratapgarh, April 15, 2016
Happy With Services
I purchase ulip policy plan from icici prudential life insurance. The policy coverage is high around 96% and the claims are huge. The policy premiums are low ~34 K and the recovery returning amount is 45 L. Services are good and on time too. Executives are doing there jobs very nicely. And the web services are also fantastic.
Ojasvi
Miraj, April 15, 2016
Fair Policy Plan
ICICI prudential ulip plans are the fantastic in terms and conditions. The premiums are low, the policy coverage is high 94% and the claims are easily sanctioned. The services are really fast and the staff members are responding with good behaviour. There is an inbuilt accidental death benefit feature. I like my policy plan.
Gagan
Badlapur, April 15, 2016
Nice Policy
I had ulip policy plan which i buy from icici prudential life insurance. The policy coverage is high 91% and the claims are good. The premiums are normal as the returns are huge with respect to investment. Policy plan which has fast service facilitate by company members. Responsive staff members on working hours. Fully satisfied.
Akhil
Srinagar, April 15, 2016
Fantastic
The policy coverage is 91%, The claims are high and the claiming is easy because of the executives and the staff members of the company. The services provided by you guys is very fast and on time. Good icici prudential ulip plan which i own. The premiums are less ~41 K and the returns are ~Rs.47 L.
Mayank
Jaswant_nagar, April 15, 2016
Power Plan
I purchase ulip policy plan from icici prudential life insurance. The policy coverage is high around 88% and the claims are huge. The policy premiums are low ~39 K and the recovery returning amount is 44 L. Services are good and on time too. Executives are doing there jobs very well and with nice behaviour too. And the web services are also fantastic. Superb future investment which reduces taxes.
Ratan
Darjeeling, April 15, 2016
Security for Future
Recently find the great policy plan that is ulip insurance policy plan and buy one from icici prudential life insurance. The policy coverage is high ~91% with very low premium. The service of all staff of your company is great with nice response. The return payback amount is around Rs 44 L at end of the policy.
Pramod
Kanpur, April 15, 2016
Very Good
Policy premiums are low and the claims are high. ICICI prudential ulip plan facilitate the people provide good response. One of my friend introduced this company for insurance. Getting reminders regularly and sum assured is double. Accidental and risk coverage is there. Good service by executives. I like it.
Rahul
Rohtak, April 15, 2016
Fantastic Policy
The icici prudential ulip plan policy i have and happy to own it. The policy coverage is 83% and the claims are normal. Services are little bit slow provided by the staff members. Good future investment which saves tax also. Just improve the services and even the web services are better. Good Work.
Jayant
Katrasgarh, April 15, 2016
Fair Deal
My ulip policy plan is from icici prudential life insurance and the policy is the best because the policy has many benefits like the accident insurance is inbuilt in this policy. Policy coverage is high 87% and the premiums are low. Claims are 1.25 times of the investment. The service is fast and very quick. Great job guys.
Omesh
Junagadh, April 15, 2016
Good Policy
I have ulip plan from icici prudential life insurance. The plan works for me. Policy coverage is also good i.e., 86% with claiming amount of Rs.44L. Service provided by you is awesome and fabulous with fast interface. Good future investment.
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