Question 1

What are the benefits that I get under this plan?

Accepted Answer

The ICICI Pru Signature online plan is a systematic wealth creation plan which can be purchased online to achieve your long-term financial goal. Some unique benefits of this plan are-

Wealth creation opportunity- The plan offers an opportunity to create wealth over long-term for your goal with the combination of equity, debt and balanced fund options available
Online benefit- This plan has 0% premium allocation charges⁺ making it a very attractive long-term proposition
Loyalty benefits- Get rewarded with Wealth Boosters² at regular intervals by just staying invested in the plan.
Life cover^/- Life Cover^/ for the entire policy term so that your family is financially secured even in your absence.
Whole-life option - Enjoy policy benefits till 99 years of age with the Whole Life option.
Flexibility- Choice of 4 portfolio strategies and wide range of funds across equity, balanced, and debt to suit your investment needs
Free Switches⁵- Switch between the funds as many times for Fixed Portfolio Strategy, completely free of cost.
Tax-benefits- You may receive tax-free* maturity amount under Sec 10(10D) and deduction of premiums paid u/s 80C*
Systematic withdrawals- Option to get regular money from your fund value with Systematic Withdrawal Plan
Quick & Safe buying process- Buying this plan online is completely safe, secure & convenient. It takes only 10-15 minutes to fill the form & do the payment. You can also talk to our experts on toll-free no. 1800 209 9777 for any queries
Online servicing- The entire servicing of this plan can be done online or through our official app. This saves your time to visit the branch for any of your concerns
Low charges- Entire premium without any deductions is invested in the funds along with the return of mortality and policy administration charges at maturity

Question 2

What are the tax benefits under this plan?

Accepted Answer

ICICI Pru Signature plan offers 2 types of tax-benefits* to our customers-

Tax Deduction of premiums paid u/s 80C of Income Tax Act, 1961.
Tax benefit* on maturity or death proceeds subject to Section 10(10D) of Income Tax Act 1961.

Question 3

In case of death, what benefit does this plan give?

Accepted Answer

To protect the family from the unfortunate demise of the life assured, the ICICI Pru Signature online offers the death benefit under this plan. In case of the death of the policy holder during the policy term & provided the funds are not in the Discontinued Policy (DP) fund, death benefit will be calculated as below,

Death Benefit = A or B or C whichever is highest where,
A = Sum Assured, including Top-up Sum Assured, if any
B = Minimum Death Benefit
C = Fund Value including the Top-up Fund Value, if any
Minimum Death Benefit will be 105% of the total premiums including Top-up premiums, if any received up to the date of death.

Question 4

Do I get some extra benefit under this plan?

Accepted Answer

The ICICI Pru Signature online plan comes with a host of additional benefits for our customers-

Wealth boosters²- We will contribute to your wealth creation by allocating extra units to your policy at the end of every 5th policy year starting from the end of the 10th policy year till the end of your policy term
Switch between the funds as many times for Fixed Portfolio Strategy, completely free of cost⁵.
Choice of 23 funds to select as per your risk appetite
Flexibility to choose the premium payment frequency and payment modes of your choice from plenty of options
Simple & convenient Systematic Investment plan where you can choose to invest monthly, half-yearly or yearly.

Question 5

Can I buy this plan online?

Accepted Answer

The ICICI Pru Signature online plan can be easily bought online in 4 simple steps-

Choose your premium amount
Select your choice of funds
Make a safe payment online
Get a digital welcome kit delivered once the policy is issued

The key benefits of buying this plan online are-

0% premium allocation charge⁺ on your investment
Paperless and convenient buying journey
Quick digital documentation process
Toll-free call-based assistance for any queries - 1800 209 9777
30 days free-look period to review your policy details

Question 6

How is my money invested?

Accepted Answer

Your entire premium is allocated among the funds of your choice without any deductions along with Return of Mortality and Policy Administration Charges at maturity (exclusively for customers buying online). With choice of 4 portfolio strategies and wide range of funds, this plan gives you abundant flexibility to invest as per your needs.

Question 7

How are the returns calculated?

Accepted Answer

ICICI Pru Signature online aims to achieve long-term superior returns from a diversified portfolio of equity, debt & balanced funds. The customer has the flexibility to choose his portfolio strategy & the funds depending upon the risk appetite & get the benefit of market swings the best way possible.
Unit Pricing: The NAV for different Segregated Funds shall be declared on all business days (as defined in Investment Regulations)

Question 8

Who will manage my investment?

Accepted Answer

Your investments will be actively managed by our dedicated & experienced fund managers. You can get the entire details about the fund performance on our official website or the link provided here- https://www.iciciprulife.com/fund-performance/all-products-fund-performance-details.html?UID=1203

Question 9

At what age can I start and close this plan?

Accepted Answer

There is no minimum age for buying this plan. The maximum age limit is 60 years. When you are young, you are free from liabilities in terms of dependents and hence, you have the potential to take higher risk to get better returns. The earlier you start investing in a ULIP, the sooner you can achieve your financial goals.
This plan has a lock-in period of 5 years after which you have an option to surrender if needed.

Question 10

How long do I need to pay the premiums for?

Accepted Answer

The customer has the flexibility to choose the 2 types of premium payment terms - Limited Pay & Regular pay for the policies they have chosen,

Payment Type	Age at Entry (Last Birthday)	PPTs Available
Limited Pay – Limited term option	All ages	5, 7, 8, 10, 12 years
Limited Pay – Whole life option*	All ages	10, 15 years
Regular Pay	All ages	Min: 15 years Max: Equal to policy term

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Question 11

Can I surrender this plan?

Accepted Answer

Yes. The customer can surrender this plan if required. However, depending upon the year of the policy you wish to surrender the surrender benefits will be applicable as below,

If you wish to surrender during the lock-in period i.e. first five policy years, the Funds will be transferred to the Discontinued Policy (DP) Fund and will be received by you or the nominee after five years.
On surrender after completion of the fifth policy year, you or the nominee will be entitled to the Fund Value including Top-up Fund Value if any.

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Question 12

What happens if I discontinue paying premiums?

Accepted Answer

In case of discontinuance of policy due to non-payment of premiums during the first five policy years, upon the expiry of grace period, the Fund Value including Top-up Fund Value, if any, shall be credited to the DP Fund after deduction of applicable discontinuance charges and the risk cover shall cease. It will continue to remain in the DP fund till the policy is revived by paying due premiums

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Question 13

Can I withdraw money from this plan before maturity?

Accepted Answer

Partial withdrawals are allowed after the completion of five policy years provided funds are not in DP Fund. You can make unlimited number of partial withdrawals as long as the total amount of partial withdrawals in a year does not exceed 20% of the Fund Value in a policy year. The partial withdrawals are free of cost. DP Funds refer to Discontinued Policy fund and consist of money from lapsed policies.
Systematic Withdrawal Plan (SWP)- This facility allows you to withdraw a pre-determined percentage of your fund value regularly. This can help you to meet specific needs such as child’s education or money for day-to-day expenses during retirement. It is a feature available with ICICI Pru Signature plan.

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Question 14

Can I switch my investment from one fund to another before maturity?

Accepted Answer

In ICICI Pru Signature Plan, if you choose the Fixed Portfolio Strategy, you can switch units from one fund to another as many times as you want as per your financial priorities and investment opportunities. This benefit is available to you completely free of cost. The minimum switch amount is ₹2,000.
Note-Switches are not applicable to other portfolio strategies.

Question 15

Can I cancel this plan after purchase?

Accepted Answer

You have a period of 30 days to review your original policy document from the date of receipt if you have purchased the policy online. If you are not satisfied with the terms and conditions of your policy, you can return it to us for cancellation and you will be eligible for a refund. This will be mentioned in your policy certificate.
Once received, we will process your request and refund the premium amount after applicable deductions (if any) within 15 days.

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Question 16

How can I check the value of my investment at any time?

Accepted Answer

To check the fund value, the customer has to do the following steps-

log in to his/her policy on www.iciciprulife.com
Click on the Quick links section and then select the Fund Value option
Select the individual policy to check the fund value details

Question 17

What are the charges under this plan?

Accepted Answer

The Signature online plan is a new-age ULIP plan which includes lesser charges making it an attractive long-term proposition. The basic charges included in the plan are as below-

Policy Administration Charges- Policy Administration Charge are levied every month by redemption of units
Mortality charges- Mortality charges are charged for the insurance cover opted & are levied every month by redemption of units based on the Sum at Risk.
Fund management charges- The fund management charges are charged as percentage of the Fund Value and will be adjusted from the NAV on a daily basis.

However, the unique part of this plan is it doesn't charge any premium allocation charges unlike other ULIP plans.
Also, the mortality charges & policy admin charges are returned on maturity making it a low-cost investment for our customers. For detailed charges please click the link below,

https://www.iciciprulife.com/content/dam/icicipru/brochures/IPru-Signature-Online-Brochure.pdf

Earn market-linked returns

Tax* benefits on returns received u/s 10(10D)

Get tax* benefits on premiums paid u/s 80C*

Enhanced Protection3 for your family

Plans start at just ₹2500 p.m. Invest Now!

Recommended For

What is ICICI Pru Signature Online?

How the Plan Works?

One plan, multiple objectives

Plan Snapshot

Plan Snapshot

Charges

Fund Options

Premium Allocation Charges

Min. Investment:

Wealth Boosters2

Life Cover/

Premium Payment Term Options

Lock-in Period

Withdrawals

Fund Switches

Akash's Wealth Creation Story

Funds Performance

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