ICICI Pru Signature (Online)

investment

ICICI Pru Signature is a Unit-Linked Insurance Plan which invests your entire premium to maximise your wealth whilst providing you a life cover up to 99 years of age with the whole life policy term option. The plan provides flexibility to choose from 4 portfolio strategies options with a wide range of 13 fund options available under its Fixed Portfolio Strategy option.  Moreover, under this plan charges for mortality and policy administration are returned at the maturity of the policy.  This plan also offers partial withdrawal benefit which allows you to withdraw a part of the  fund value in the time of an immediate financial need. 

Moreover, the plan gives you the option to change the portfolio strategy up to 4 times in a policy year which provides you a chance to use a financial opportunity to its full potential.  The free-look period under this ULIP is for  15 days (30 days in case of purchase via distance marketing mode), which gives the investor full autonomy to cancel the policy upon dissatisfaction with the plan. Upon cancellation, the company terminated the plan after deducting minimal charges.

Best Features of ICICI Pru Signature 

ICICI Pru Signature comes with the following features - 

  • Whole Life Policy Term Option-  Under this option,  you are provided with a life cover up to 99 years to ensure full financial protection of your family in your absence.
  • Wealth Boosters- Wealth boosters are added to your fund value at the end of every 5th policy year starting from 10th policy year till maturity.
  • Unlimited Free Fund Switching - The investor can switch the fund options as many times under fixed portfolio strategy without any charge during the policy term.
  • Portfolio Strategy Change Option- Under this option, the investor can change the portfolio strategy upto 4 times in a policy year without any extra charge.
  • Top-Up Premium Option-  The investor has the option to invest surplus money as top-up premium to maximise the returns on the investment.
  • Flexible Portfolio Strategy Options-  The plan provides 4 portfolio strategy options to meet the financial needs of the investor.

Benefits of ICICI Pru Signature 

Following benefits are available under ICICI Pru Signature Term Plan which makes it distinctive among its parallels:

  1. Death Benefit

In case of the death of the assured, whichever from the following is the highest is paid as the death benefit to the nominee -

  • Sum assured and top-up sum assured (if any)
  • Fund value and top-up fund value ( if any)
  • Minimum death benefit (105% of all premiums paid including top-up premium).
  1. Maturity Benefit

At the maturity of the policy, the investor is entitled to the fund value along with the top-up fund value ( if any ) either as lump sum or structured payout using a settlement option.

  1. Partial Withdrawal Benefit

ICICI Pru Signature allows partial withdrawals after completion of 5 policy years, only if all the premiums are paid up to date. Unlimited number of withdrawals can be made in a year as long as the total withdrawal amount does not exceed 20% of the fund value. 

The plan also allows you to opt  for  Systematic  Withdrawal  Plan (SWP) with which you can withdraw a predetermined  percentage  of  your  fund  value  on a regular basis. SWP helps you meet specific financial requirements such as child’s education or day-to-day retirement expenses.

  1. Whole Life Cover Benefit 

 The plan offers you to enjoy a life cover benefit till 99 years of age with its Whole Life option. With this benefit you can protect your family for an extended period of time even during your retirement.

ICICI Pru Signature Eligibility

Eligibility Criteria for the different variants of ICICI Pru Signature 

For Policies other than Whole Life

Whole Life Option

Minimum Age at Entry


 

0 Years

Maximum Age at Entry


 

60 Years

Minimum Age at Maturity


 

18 Years

Maximum Age at Maturity


 

75 Years

99 Years

Policy Term

10-30 Years

10 years - whole life (99 minus age at entry)


 

Premium Payment Frequency

Yearly, Half-Yearly and Monthly

Premium Payment Term

Limited Pay- 5, 7, and 10 years

Regular Pay- same as policy term

Limited Pay-  5, 7, and 10 years

Minimum Sum Assured

7 X Annualised Premium

Maximum Sum Assured

  • 0-44 years - 10 X Annualised Premium) or  ( (70- Age at entry) X 0.5 X Annualised Premium), whichever is highest
  • 45years and above - 10 X Annualised Premium 
  • 0-44 years - 10 X Annualised Premium) or  ( (70- Age at entry) X 0.5 X Annualised Premium), whichever is highest
  • 45-58 years - 10 X Annualised Premium
  • 59-60 years -  7 X Annualised premium

ICICI Pru Signature Fund Options

ICICI Pru Signature offers the following 4 different portfolio strategies:

  1. Target Asset Allocation Strategy

This strategy offers the investor to select any 2 fund options of your choice which are available under the policy and invest the premiums in any proportion to meet the financial requirements.

  1. Trigger Portfolio Strategy 2

Under this strategy option, the investments are distributed between 2 funds - Multi Cap Growth Equity Fund and Income Fund in a 75:25 proportion to balance the funds which in turns minimises risk.

  1. Fixed Portfolio Strategy

This option allows the investor to allocate the funds freely based solely on the financial choice. The fund options are as follows:

Fund Name

Asset Class


 

 


 

Equity and Equity                             Debt                                            Money Market 

Related Securities                                                                                    and cash 

 


 

Fund Composition

Risk and Return Rating

Focus 50 Fund

90%-100%

0%-10%

0%-10%

High 

Opportunities Fund

80%-100%

0%-20%

0%-20%

High 

Value Enhancer Fund:

85%-100%

0%-15%

0%-15%

High 

Multi Cap Growth Fund

80%-100%

0%-20%

0%-20%

High 

Bluechip Fund

80%-100%

0%-20%

0%-20%

High 

India Growth Fund

80%-100%

0%-20%

0%-20%

High 

Maximiser V

75%-100%

0%-25%

0%-25%

High 

Maximise India Fund

80%-100%

0%-20%

0%-20%

High 

Multi Cap Balanced Fund

0%-60%

20%-70%

0%-50%

Moderate


 

Active Asset Allocation Balanced Fund

30%-70%

30%-70%

0%-40%

Moderate 

Secure Opportunities Fund

-

60%-100%

0%-40%

Low 

Income Fund

-

40%-100%

0%-60%

Low 

Money Market Fund

-

0%-50%

50%-100%

Low 

  1. Lifecycle based Portfolio Strategy 2

Under this strategy, the funds are allocated between 2 funds namely Multi Cap Growth Fund and Income Fund on the basis of the age of the investor. The distribution of fund based on age is shown in the table:

Age of Life Assured (years)

Multi Cap Growth Fund

Income Fund

Up to 25

80%

20%

26 – 35

75%

25%

36 – 45

65%

35%

46 – 55

55%

45%

56 – 65

45%

55%

66 +

35%

65%

ICICI Pru Signature Review 

ICICI Pru Signature is a plan best suited for the people who have a zest for investments. With 4 portfolio strategy options, the plan is quite flexible when it comes to allocating the premiums. The plan also ensures life protection upto 99 years under Whole Life Policy Term Option to provide your family the financial help in case of any mishappening. One of the best features of the plan is the return of Mortality and Policy Administration Charges at the maturity of the policy. 

Along with tax benefits, the plan provides a grace period of 15 days for monthly mode of payment and 30 days for other modes of payment in case the investor fails to pay the premium on time. This plan can be shortlisted by individuals who are looking for a market-linked investment option which also offers high protection for their family’s financial security. With its benefits and features, this plan is an exceptional choice to maximise your wealth overtime.

ICICI Pru Signature FAQs
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  • Registration No. 700. Valid till 16/02/2023
  • CIN - U66000DL2019PTC355671