ICICI Prudential Wealth Builder II Plan

ICICI Prudential Wealth Builder II Plan is a non-participating ULIP Plan that allows you to grow your money through market-linked investments and also provides life insurance coverage to safeguard the future of your family financially.

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  • Guaranteed Tax Savings

    Under sec 80C & 10(10D)
  • ₹ 1 Crore

    Invest 10k Per Month*
  • 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

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ICICI Prudential Wealth Builder II - Key Features

  • The plan provides 3 types of premium payment option i.e. limited pay, single pay and regular pay.
  • ICICI Prudential Wealth Builder II Plan provides two investment options- Fixed Port Folio Strategy and Lifecycle Based Portfolio Strategy.

Fixed Portfolio Strategy- This strategy provides a choice of 8 fund options for investment purpose. The Fixed Portfolio Strategy offers Automatic Transfer Strategy (ATS) to the insured in which a part of investment or all vested money is collected in income fund or money market and then it is transferred in yearly or monthly basis to any of the remaining 7 funds.

The 7 fund options offered by Fixed Portfolio Strategy are:-    

  1. Opportunities Fund
  2. Multi Cap Growth Fund
  3. Blue-chip Fund
  4. Maximizer V
  5. Multi Cap Balanced Fund
  6. Income Fund
  7. Money Market Fund

Lifecycle Based Portfolio Strategy- Under this strategy, the investment choice is offered depending on the age of the policyholder. On the basis of the insured’s age, the investment is divided in a fixed ratio between income fund and multi cap growth fund. In order to protect income fund against market volatility and to maintain uniformity towards maturity the ration of investment is balanced quarterly. To enhance the fund value the insured is provided with loyalty addition, wealth booster and additional loyalty addition.

ICICI Prudential Wealth Builder II - Benefits

  • On Maturity of the policy, the insured receives the total fund value including the top-up fund value.   
  • The policyholder can avail the maturity proceeds after the policy matures. The maturity benefits can be received over a period of 5 years. This maturity benefit can be availed in equal installments through the settlement options.
  • The sum assured payable on death of the insured depends on the Premium Paying Tenure chosen by him.
  • For single pay plans, higher of the Minimum Death benefit amount or the Sum Assured (Top-up Sum Assured minus the amount Partially Withdrawn) or Fund Value (Top-up Fund Value) is paid.
  • For Limited and Regular Pay plans, higher of Sum Assured + Fund Value (including top-up SA and Fund Value) or Minimum Death Benefit is payable for ages less than 50 years.
  • If the policyholder dies at the age of 50 years or above, the nominee will receive the Sum Assured including Top-up sum assured net of partial withdrawals or Minimum Death Benefit or Fund Value including Top-up Fund Value (Whichever is higher).
  • The Minimum Death Benefit is determined as 105% of all paid premiums

Loyalty Additions and Additional Loyalty Additions are added from the 6th policy year at 0.25%.

  • After the completion of 10th policy year, wealth boosters are added to fund value, every year, at 1.50% for Single Pay and 3.25% for Regular Pay options.
  • All these additions are expressed as a percent of the average Fund Value (Top-up Fund Value) over last eight quarters. 

ICICI Prudential Wealth Builder II - Product Specification:




Entry Age (Last Birthday)

0 years

 Single pay -69 years

Regular pay – 65 years

Limited pay – 55 years

Maturity Age (Last Birthday)

18 years

Single pay - 79 years

Regular pay – 75 years

Limited pay – 69 years

Policy Term (PT) in years



Premium Paying Term (PPT) in years

Single Pay or 5, 7, 10 or equal to policy term

Premium Paying Frequency

Yearly, half-yearly, monthly or Single

Yearly Premium

Regular & Limited Pay – 24,000

Single Pay – 48,000

No limit

Sum Assured

Limited & Regular Pay – Higher of 10*annual premium or 0.5*term*annual premium for ages<45 yrs. or higher of 7*annual premium or 0.25*term*annual premium for ages>=45 yrs.

Single Pay – 1.25*SP

Limited & Regular Pay – as per SA multiples

Single Pay – 10*SP for ages<35 yrs. or 1.25*SP for ages>=35 yrs.

Details About Premium

Illustration for a policy term of 20 years:


5 Pay

Regular Pay


35 years

35 years




Sum Assured



Fund Value including all Additions @ 4%



Fund Value including all additions @ 8%



ICICI Prudential Wealth Builder II - Policy Details

Grace Period:  In case of failure of the premium payment within the given time, a 15 days’ grace period is allowed to the insured to pay off the due premium in monthly mode and 30 days in other modes. If the insured fails to pay off all outstanding premiums in the given time, then the policy tenure will lapse.

Policy Termination or Surrender Benefit: For Single Premium policies, applicable under Option A, the policy can be surrendered after the first policy year. For Regular Premium policies, the policy acquires Surrender Value only after payment of premiums for the first three policy years. The policy is terminated, if it is not restored within the revival period. Besides, once the insurer pays off the death and the maturity benefit, the policy comes to an end.

Free Look Period: If the insured is dissatisfied with the coverage and terms and conditions of the policy then they have an option to cancel the policy within the first 15 days of the policy, provided there has been no claim made yet.

  • In case of financial emergencies, the policyholder is allowed to withdraw 20% of the fund value in a year.
  • For required investment portfolio, the insured is allowed to switch between funds.
  • The policyholder can use top-ups to increase the fund value. Rs2000 is the minimum amount for top-up payments.  
  • The insured can switch between the portfolios strategies opted once every year free of cost.
  •  Premium Redirection option is available under this plan.

Additional Features or Riders

  • Under certain terms and conditions, the sum assured amount can be increased or decreased.
  • The Premium Paying Term and the Policy Term can also be increased or decreased under certain pre-set conditions.
  • There is an option of availing Income Benefit Rider under the plan. 


    The insurance gets nullified if the person insured commits suicide within a year from the initials of policy cover. In that case, only 80% of the premium paid (excluding any payment for taxes and extra premium for buying riders) is refunded. Either 80% of the premium or the surrender value is refunded to the beneficiary if the insured commits suicide within one year of policy reinstated.

Documents Required

To apply for the plan, you need to submit the filled up application form along with an identity proof and the address proof along with your recent photograph. In some cases, a medical examination and income proof may also be required.

You may also like to read: ICICI Prudential ULIP Plans

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