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ICICI Pru Signature Plan
Unique Features
- Life Cover
- Wealth Boosters
- Return of Premium Allocation Charges
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ICICI Prudential Life Insurance
ICICI Pru Signature Plan
ICICI Pru Signature is a ULIP that combines life cover with wealth cre ...Read More
🛡️ IRDAI Approved
⭐ 4.5/5 · 1,017 reviews
📊 2.12 solvency ratio
✅ 99.3%% claim settlement ratio
🌐 506+ pan-India
About ICICI Pru Signature Plan
A quick read on what this ICICI Prudential Life Insurance term plan covers and why it might be a fit for you.
ICICI Pru Signature is a ULIP that combines life cover with wealth creation, helping you protect your family while growing your investments. It provides flexible Wealth Boosters, fund options, Value Benefits, and return-of-premium allocation charges. It adapts to changing life stages, providing disciplined investing, financial security, and long-term growth. Investment risk is borne by the policyholder, with loyalty additions and boosters rewarding long-term commitment. The plan provides a low Reduction in Yield (RIY) for cost-efficient growth, MWPA registration for fund protection, and structured settlement options over 1–5 years at maturity.
- Life Cover
- Wealth Boosters
- Return of Premium Allocation Charges
- Value Benefit
- Whole Life Option
- Systematic Withdrawal Plan (SWP)
Eligibility Criteria for ICICI Pru Signature Plan
Entry age
0-70 years
Maturity age
99 years
Policy tenure
10 to 30 years
Premium payment term
Single, Yearly, Half-Yearly, and Monthly
Premium payment frequency
Single, Yearly, Half-Yearly, and Monthly
Sum assured
0-39 years- 1.25 X Single Premium 40 and above 40 years- 10 X Single Premium
How does ICICI Pru Signature work?
Let's understand how the ICICI Pru Signature works with a simple premium illustration.
Problem
Mr. Verma wants a plan that offers both life protection and wealth creation. He wants flexibility in investment options, the ability to make top-ups, and partial withdrawals when needed.
Solution
Mr. Verma chose ICICI Pru Signature for life cover and ULIP benefits. He picked the Premier Plan with a balanced strategy. The plan allows top-ups, partial and systematic withdrawals, optional riders, and provides nominee payout of the higher of Fund Value or Sum Assured.
Let us see a brief illustration of the ICICI Pru Signature:
| Age | Annual premiums | Policy Term | Premium payment Term | Sum Assured | Estimated Fund Value at Maturity | Estimated monthly SWP option |
| 30 years | ₹2,00,000 | 20 years | 20 years | ₹50,00,000 | ₹58,00,000 | ₹24,000 (from year 21 onwards, if selected) |
Key Takeaways: In case of Mr. Sharma's demise during the policy tenure, ₹50,00,000 and market interest will be paid to their nominee.
Benefits of ICICI Pru Signature Plan
There are various benefits to buying the ICICI Pru Signature Plan. Let's understand each of the benefits of this ULIP plan in detail:
- Improved wealth creation features - The plan adds back premium allocation charges every 5 years, provides guaranteed wealth boosters from year 10, and rewards some higher contributions with additional units in Premier and Exclusive plans.
- Transparent charge structure - The plan lists all charges clearly, including premium allocation charges, policy administration, mortality, and fund management charges. It may also include discontinuance charges and nominal switching or partial withdrawal charges.
- Long-term protection and wealth planning The plan provides Whole Life cover up to the age of 99 for lifelong protection and legacy planning. However, a systematic withdrawal plan allows regular fund withdrawals after the 5-year lock-in period.
Features of ICICI Pru Signature Plan
Key features that make ICICI Pru Signature Plan stand out.
Three customizableplan levels
You can choose plan levels such as Advantage, Premier, or Exclusive based on premium, each providing different levels of Value Benefits.
Maturity asPayouts
With the Settlement option, you can get maturity proceeds in periodic payouts over 1 to 5 years instead of a lump sum.
Smart PortfolioManagement
Choose from four portfolio strategies, including a Lifecycle-based strategy that automatically manages your investments according to your age.
Child care income benefit
There is a regular income paid to support daily expenses and the child's education after the policyholder's death.
Smart exitoption
You can exit the plan after the age of 60 and receive the base premiums paid. It helps recover policy costs if cover is no longer required.
Exclusions of ICICI Pru Signature Plan
Here is the list of exclusions associated with this life insurance plan:
- If the life assured dies because of suicide within 12 months from plan commencement or revival, the death benefit is not payable. Only the available fund value, covering the top-up fund value, will be paid.
- The policy has a mandatory five-year lock-in period. During this time, partial withdrawals or policy surrender are not permitted.
- The policy may terminate if the Fund Value becomes zero after five years due to unpaid premiums or poor fund performance.
- In extreme situations such as natural disasters, war, or market closures, the insurer may defer fund valuation or policy servicing for up to 30 days.
Conclusion
ICICI Pru Signature suits people who need life protection with disciplined investing. You build long-term wealth while keeping a financial safety net for your family. Insurance and investment go hand in hand. Flexible portfolio strategies, Wealth Boosters, and options like SWP or settlement payouts facilitate different life goals over time. The plan also gives control with the help of top-ups and adjustable features, so your coverage and investments evolve with your responsibilities. With protection, growth potential, and flexibility in a single structure, it works well for individuals planning for future milestones and long-term financial stability.
Conclusion
ICICI Pru Signature suits people who need life protection with disciplined investing. You build long
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Frequently Asked Questions
The 5 most-asked questions about ICICI Pru Signature Plan, answered.
ICICI Pru Signature is a flexible ULIP offering 100% premium investment, multiple funds, portfolio strategies, loyalty additions, optional life cover up to 99 years, tax benefits, and a five-year lock-in.
Benefits of ICICI Pru Signature include 100 percent premium investment, portfolio strategies, unlimited fund switches, loyalty additions, optional whole life cover up to age 99, and systematic withdrawal flexibility.
Minimum premium starts around ₹2,500 monthly or ₹48,000 yearly, depending on policy terms.
Nominee receives the death benefit, which is the higher of the fund value or sum assured as per policy terms, which ultimately helps in managing expenses, liabilities, and financial needs.
Premiums qualify for deduction under Section 80C. Maturity or death benefits receive tax treatment under Section 10(10D), subject to prevailing tax rules.
Written and reviewed by
PolicyX content is researched in-house and reviewed by an IRDAI-certified insurance specialist before publication.
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