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ICICI Prudential Smart Life Plan

ICICI Pru Smart Life Plan is a unit-linked insurance plan (ULIP). The plan offers multiple investment options and fund choices. The policyholder will receive the fund value on the maturity date. In the event of unfortunate death of policyholder during the policy term, the family will get the benefit amount. Waiver of Future premiums in case of death of policyholder makes the plan unique.
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ICICI Prudential Life insurance review

ICICI Prudential Life
Branches In India
517
Entry Age Minimum/Maximum (Years) - Term Plans
18/65
Sum Assured Minimum / Maximum - Term Plans
50 lacs / 100 cr
Policy Term Minimum / Maximum (Years) - Terms Plans
5years/ 85years and also we have whole life option
Solvency Ratio *
217% (2.17)
Death Claims Settled from 2002 till now
₹ 95.48 billion
Number of Lives Covered**
2133682
Claims Settlement Ratio ***
97.90%
Claim Settlement Time
1.4 days
13 months Persistency Ratio
87.10%
* - As per IRDAI data 2020-21 - The solvency ratio of an insurance company is the size of its capital relative to all the risk it has taken, which is all liabilities subtracted from total assets. In other words, solvency is a measurement of how much the company has in assets versus how much it owes
** - as per L-25 Public Disclosure of Insurance Companies for 2020-21  |  *** - Claims Settlement Ratio = Claims Settled in the year / Claims Reported in the year - as per IRDAI data published

ICICI Prudential Smart Life Plan Overview

  • Key features
  • Eligibility

Key features of ICICI Prudential Smart Life Plan

  • Flexibility of premium payment – pay once for the entire tenure.
  • Waiver of future premium – in case of policy holder’s death.
  • Choice of portfolio strategy – diversify risk across portfolios.
  • Loyalty benefits / Wealth Boosters – extra units for staying invested for long term.

Eligibility criteria of ICICI Prudential Smart Life Plan

Particulars Minimum Maximum
Policy Term 10 years 12 years
Entry Age (in years) 20 54
Maximum Maturity age (in years) 30 64
Policy Term (in years) 10 25
Maximum Premium Unlimited
Premium Payment modes Annual, Half yearly and monthly

Brochure

Review ICICI Prudential Smart Life Plan Insurance brochure to understand coverage details.

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Policy wordings

Review ICICI Prudential Smart Life Plan Insurance policy wordings which explains the terms and conditions.

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CIN: U66000KA2018PTC117713 | IRDAI Web aggregator License Code Number: IRDAI / INT / WBA /53/ 2018, Valid till 07/08/2025