Term Plans
 
 
Wealth Plans
 
 
Retirement Plans
 
IN UNIT LINKED INSURANCE PLANS, THE INVESTMENTS RISK IN THE INVESTMENT PORTFOLIO IS BORNE BY THE POLICYHOLDER
  Start saving now to give  
  YOUR CHILD A SECURE FUTURE  
WEALTH PLANS

Unit Linked Plans (ULIPs)

Traditional Savings / Money Back Plans

TOOLS & CALCULATORS
SEND ME AN ADVISOR

ICICI Pru Smart Life

As a responsible family member, taking care of your loved ones dreams will always be top priority. These dreams can be your childrens education, financial independence of parents or securing the family's lifestyle after you retire.
To fulfil these responsibilities you need a solution that enables you to save without any compromise.Keeping this in mind, we present ICICI Pru Smart Life - a plan that provides multiple choices to invest towards your financial goals.
The beauty of this plan is the Smart Benefit - this ensures that the wealth accumulation continues even after you are not around.
With this objective, we present ICICI Pru Smart Life a unit linked insurance plan that provides you with multiple choices to invest towards your financial goals and the Smart Benefit ensures that the wealth accumulation continues even after you.
Why choose ICICI Pru Smart Life?
We have 5 good reasons:
  • Choice of portfolio strategies : Choose between Fixed Portfolio Strategy & Life Cycle based Portfolio Strategy based on your requirement.
  • Comprehensive protection: On death of the life assured, receive
    • Lump sum benefit
    • Smart Benefit: All future premiums payable under the policy will be waived and allocated by the company - to ensure that your savings for your desired goal continue uninterrupted
  • Liquidity: Fund any intermediate financial need through Partial Withdrawals, any time after the completion of five policy years. Partial Withdrawals will not reduce the protection level.
  • Loyalty benefits: Get rewarded with Loyalty Additions and Wealth Boosters on staying invested with us over the long term
  • Tax benefits on premiums paid and benefits received as per the prevailing tax laws

KEY BENEFITS

Death Benefit:
On death of the Life Assured the benefit will comprise of two parts:
  • Sum Assured including Top-up Sum Assured
  • Minimum Death Benefit
  • Minimum Death Benefit = 105% of the total premiums paid including Top-up premiums, if any.
  • Smart Benefit: Secure your goal with Smart Benefit. Under this benefit, for Regular Pay policies, following the date of death of the life assured, provided all due premiums have been paid, units equivalent to the instalment premium will be allocated by the Company on the subsequent premium due dates.
Additional Accidental Death Benefit (offered as Accidental Death Rider UIN: 105A025V01):
If you have an accident that results in your death during the term of the rider, the Rider Sum Assured will be paid to your nominee.
  • Charges:
    The charge for this rider will be deducted by cancellation of units on a monthly basis. The charge is independent of age and is `45 p.a. per `1 lakh of Rider Sum Assured. This charge is guaranteed for the term of the contract.
  • Rider Sum Assured:
    Equal to the Sum Assured of the base policy, subject to a maximum of Rs 50 lakh.
    For more information click here
Maturity Benefit:
On maturity of the policy, you will receive the Fund Value including the Top-up Fund Value, if any. You will have an option to receive the Maturity Benefit as a lump sum or as a structured payout using Settlement Option.
Loyalty Additions:
6th policy year onwards, you will get rewarded for paying your premiums regularly.
  • This is in the form of extra units at the end of every policy year
  • Each Loyalty Addition will be equal to 0.25% of the average of the Fund Values
  • You get an additional Loyalty Addition of 0.25% every year from the end of year 6 if all premiums for that year have been paid
Wealth Boosters
Wealth Boosters will be allocated as extra units at the end of every 5thpolicy year starting from the end of the 10thpolicy year
  • Each Wealth Booster will be 3.25% for Regular Pay policies and 1.5% for Single Pay policies of the average of the Fund Values
  • So, for a 25 year Policy Term, Wealth Boosters will be allocated 4 times

HOW IT WORKS

  • Decide your premium amount, policy term and premium payment option
  • Select the Sum Assured as per your protection needs
  • Choose to invest in one of the 2 available Portfolio Strategies
  • On maturity of your policy, receive your maturity benefit as a lump sum or as a structured payout through settlement option to meet your financial goals
  • In case of your unfortunate death during the policy term your nominee will receive the Lump Sum benefit. All future premiums will be waived and Units will be allocated as if the future due premiums are being received as per the premium payment term. The Nominee will receive the Fund Value, including Top up Fund value, if any, at the policy maturity date

AT A GLANCE

Details
Regular Pay option
 
One Pay Option
Min/Max age at entry
20 years / 54 years
Min/Max age at maturity
30 years / 64 years
Min/Max Policy Term
10 years / 25 years
Min/Max Premium Paying Term
Same as Policy Term
Maximum Premium
Unlimited
Premium Payment modes
Annual, Half-Yearly, Monthly
Maximum Premium
Unlimited
Minimum Premium
Age at entry
Minimum Premium
20-49 years
Rs. 1,00,000 p.a.
50-52 years
Rs. 120,000 p.a.
53-54 years
Rs. 500,000 p.a.
Sum Assured
Age at entry Min. Sum Assured Max. Sum Assured
Less than 45 years Higher of (10 X Annual Premium) and (0.5 X Policy term X Annual premium ) As per maximum Sum Assured Multiples
45 years and above Higher of (7 X Annual Premium) and (0.25 X Policy term X Annual premium )
Note: Sum Assured multiples in between the maximum and minimum limits are not available in One Pay option.
UIN of the ICICI PRU Smart Life : 105L145V01

SPECIMEN POLICY DOCUMENTS

Click to view: