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.

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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:



Policy Tenure

5 and 10 years

Premium Paying Term

Single premium payment 

Premium Paying Mode


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


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:

  1. 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. 

  2. 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, or
    • Fund Value including Top-Up Fund Value, or
    • 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.

  3. 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.

  4. 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. 

  5. Partial Withdrawal Benefit:

    Unlimited Partial withdrawals are allowed for 10 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.

  6. 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.  

  7. 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 it 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.


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ICICI Pru1 Wealth Reviews & Ratings

4.1 / 5 (Based on 27 Reviews)
(Showing Newest 10 reviews)
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.
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.
Bhowali, August 24, 2016
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.
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.
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.
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.
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.
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.
Gwalior, April 15, 2016
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.
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.
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