ICICI Prudential iPru Signature Life Insurance Plan

4.5

Paybima Rating

For you, family always comes first! Their demands, needs, dreams, everything. But have you ever wondered what happens to them when suddenly you’re not around? Life comes with no guarantee, meaning planning for the unexpected isn't overthinking; instead, it showcases love and responsibility towards your loved ones. With life insurance, you ensure that you don't leave your family with unsettled debts or your children with an unstable future; instead, you prepare a financial safety net that takes care of their needs.

ICICI Prudential iPru Signature is an ideal plan for individuals seeking to secure their family's needs while growing their wealth. It's a ULIP plan that comes with life insurance coverage and has a flexible investment component as well. From wealth boosters to systematic withdrawal plans, it offers a range of benefits that you may want to consider.

Highlights of ICICI Prudential iPru Signature Life Insurance Plan

Financial protection with life cover for the entire policy term.

Get loyalty rewards with wealth boosters at regular intervals.

Life cover + investment component to secure your family and grow your money.

Flexibility in switching funds unlimited times.

Get all your insurance related queries answered

Wish to Enhance Your Coverage? Take a look at the Riders Available with ICICI Prudential iPru Signature Life Insurance Plan

Add-On Covers	Details
Additional Protection through ICICI Pru Unit Linked Accidental Death Rider	With this rider, the sum assured is payable over and above the death benefit, provided the death is caused by accidental death. This rider comes with a maximum ceasing age of 65 years. This means the add-on is available only till 65 or based on policy terms, whichever is earlier.
Additional Protection through ICICI Corona Protect Plus Rider	With this rider, you ensure 25% of the rider sum assured is payable as the lump sum amount in case of hospitalisation of the life assured for no less than 72 hours caused by COVID-19. Additionally, 100% of the rider's sum assured is payable in case of death caused by COVID-19.

Features and Benefits of the ICICI Prudential iPru Signature Life Insurance Plan

Having a reliable life insurance plan isn't just about the premiums, but also about peace of mind. ICICI Prudential iPru Signature comes with a range of features, including long-term protection, financial safety for your family, a savings component, and more. This ensures that its wide range of features covers life's uncertainties and your individual financial goals simultaneously. Curious to know more?

Here are the details of the plan's features and benefits.

Two-in-One Plan

As mentioned, ICICI Prudential iPru Signature is a ULIP or Unit Linked Insurance Plan. This means not only does it offer you life cover for the entire policy term, but it also grows your money with an investment component. It comes with four portfolio strategies and a variety of funds across debt, equity, and other asset classes that suit your savings and investment needs.

Access to Wealth Boosters

Another amazing benefit of this plan is its wealth boosters. This helps you enhance your wealth creation as you're rewarded with extra units to your policy at the end of every 5th policy year. It starts from your 10th policy year and continues till the very end of your policy term.

Return of Policy Administration and Mortality Charges

How about your entire premiums being allocated to your chosen funds with no deductions? Sounds fab, right? With ICICI Prudential iPru Signature, it's real. The plan is designed with a feature that allows for the return of policy administration and mortality charges, where any charges deducted will be added back to your fund value.

Wealth Creation in Simple, Easy Steps

Wealth creation with ICICI Prudential iPru Signature is super easy and hassle-free. All you need to do is choose your life cover, premium amount, payment option, and term that align with your savings goals. Next, choose your policy fund and strategy. Now, the nominee can get the death benefit in case of the unexpected demise of the life assured. Additionally, the claimant gets the maturity benefit once the policy matures.

Access to Partial Withdrawal

Imagine having an immediate need and no access to funds. This can be really frustrating. However, with ICICI Prudential iPru Signature, you do not need to worry about that. Its partial withdrawal facility offers immediate liquidity once the lock-in period is completed. Note that this feature is available at no cost and can be accessed multiple times.

Access to Free Switching of Funds

Ever wondered what if investment outlook and priorities change? Well, now you do not have to worry about that with the fixed portfolio strategy of ICICI Prudential iPru Signature. It allows you to switch funds limitlessly as your investment goals evolve. Additionally, you incur no charges for it.

ICICI Prudential iPru Signature Life Insurance Plan: Highlights

Here are some of the highlights of the ICICI Prudential iPru Signature Health Insurance Plan:

Particulars	Details
Policy Name	ICICI Pru Signature
Insurance Company	ICICI Prudential Life Insurance
Premium payment mode	Limited pay Limited pay- whole life option Regular pay
Age of Entry	Minimum age: 0 years Maximum age: 60 years
Maturity age	Minimum maturity age: 18 years Maximum maturity age for policies other than whole life: 75 years Maximum maturity age for whole life option: 99 years
Benefits	Death benefit Maturity benefit Wealth boosters Partial withdrawal benefits Systematic withdrawal plans Settlement option Premium redirection Return of policy administration and mortality charges
Policy revival	The revival period is 3 years from the date of 1st unpaid premium.
Grace period	15 days for the monthly premium payment mode 30 days for other modes of premium payment
Add-ons	Additional Protection through ICICI Pru Unit Linked Accidental Death Rider Additional Protection through ICICI Corona Protect Plus Rider
Claim Settlement Ratio	99.3% (FY 2025)

ICICI Prudential iPru Signature Life Insurance Plan: Eligibility Criteria

Having a reliable plan by your side means you get access to a bundle of benefits. However, to avail of those benefits without any hassle, consider checking if you meet the eligibility criteria. Here are some eligibility requirements for ICICI Prudential iPru Signature that you may want to consider.

The minimum entry age is 0.
The maximum entry age is 65 years.
The minimum maturity age for policies other than whole life is 18 years.
The maximum maturity age for policies other than whole life is 75 years.
For the whole life plan, the maximum maturity age is 99 years.
The premium payment mode can be done on a yearly, half-yearly, or monthly basis.
The minimum premium payment term (PPT) for limited payment is 5 years, and the maximum premium payment term for limited pay is 12 years.
For regular pay, the minimum premium payment term is 10 years, and the maximum PPT is the same as the policy term.
For limited pay (whole life option), the minimum PPT is 10 years, and the maximum premium payment term is 15 years.

ICICI Prudential iPru Signature Life Insurance Plan: What is Covered?

Here is a list of policy inclusions under ICICI Prudential iPru Signature Life Insurance Plan.

Death Benefit

Given that the monies are not in the discontinued policy fund, the death benefit ensures that in case of the unexpected death of the life assured during the policy tenure, the claimant gets access to the death benefit. The death benefit can be either the sum assured, including the top-up, the minimum death benefit, or the fund value, whichever is the highest.

Maturity Benefit

With maturity benefit, you ensure you get the fund value once the policy matures. This benefit can either be received as a structured payout using a settlement option or a lump sum amount.

Settlement Option

With this benefit, you may choose to get your maturity benefits in the form of structured payouts. This can be done on a yearly, half-yearly, monthly, or quarterly basis. Also, at any point in time, the claimant can withdraw the entire fund value. Not to forget, the investment risk of the investment portfolio during the settlement period is borne by the claimant.

Partial Withdrawal Option

The Partial Withdrawal Option provides access to liquidity in times of immediate need. This benefit becomes available at any time once the lock-in period has been completed. These are free of charge and can be done unlimited times, provided the total partial withdrawal amount does not exceed 20% of the fund value during a policy year. It also offers a facility for systematic withdrawal plans, allowing you to withdraw a pre-set percentage of your fund value on a regular basis.

Premium Redirection

Given you have chosen the fixed-portfolio strategy, this benefit allows you to change the split without any charges during the payment of your subsequent premiums. Specifying the funds and the proportion of savings allocated to these funds must be done during policy inception in a fixed portfolio strategy.

Top-Up

This allows you to save the surplus money as top-ups. These are in addition to the base premiums of the policy.

Increase or Decrease in Sum Assured

Given all the premiums to date have been made successfully, you may increase or decrease the sum assured. However, it is essential to note that this increase or decrease will not affect the payable premium and is contingent upon the underwriting process.

Increase or Decrease in PPT

Given all the premium payments have been made, you may choose to increase or decrease the policy payment term. However, it should not exceed the policy tenure.

Change in Portfolio Strategy

With this benefit, you can change your portfolio strategy among the available options. This benefit is provided free of cost and can be availed of up to four times in a policy year.

Increase in Policy Term

This benefit allows you to increase your policy terms, subject to underwriting and policy terms.

ICICI Prudential iPru Signature Life Insurance Plan: What is Not Covered?

Here is a list of policy exclusions under ICICI Prudential iPru Signature.

A decrease in the policy term is not covered.

An increase or decrease in the premium is not allowed.

In case the life assured commits suicide within just 12 months from the effective date of any top-up, the corresponding top-up is not calculated in the death benefit.

Policy services, including the policy-related payments, are kept in abeyance and are not covered under certain events, including:

An event of natural calamity, riots, bandh, etc.
Any civil or political unrest that the company cannot control.
In the event of any major disaster or force majeure affecting the normal functioning of the company, etc.

Claims Experience

Claims Experience Rating 4.4

% of claims settled in less than 30 days
Reflects on the speed of settling valid claims

98.61%

% of Complaints received on overall claims
% customers unhappy with claims experience

0.24%

Claims Incurred Ratio

72.71%

Claim Settlement Ratio (No. of claims)
What % of the claims received were paid?

90.24%

No. of Cashless Hospitals

11,000+

Hand-hold by our expert advisor till making the right choice

Talk to an Advisor

70% of customers choose our advisor support for better coverage clarity.

Paybima Trusted by Millions of Customers

4.5

40+ Insurers

Wide range of trusted providers

560+ Advisors

Expert guidance at every step

Ask Anything as We Have Answers to Everything in Insurance

Being a savings cum life insurance plan, the iSelect Guaranteed Future Policy offers 5 different variants to choose from, such as iAchieve, Flexi iAchieve, iAssure, Flexi iAssure, and Easy iAchieve. Be it any plan you choose, you would get life cover together with guaranteed maturity benefit and/or survival benefit.

It is a voluntary cover that is in-built. As per the Payor Premium cover, if the insured dies, all the premiums to be paid in the future would be waived off, while the policy would still stay active.

Guaranteed maturity is the benefit that is offered as the assured lump sum pay that is offered at maturity. The money that is offered as guaranteed maturity to the policyholder or beneficiaries is fixed at the time of policy purchase.

The payout is given as a lump sum or monthly pay. You can also opt for part lump sum and part monthly pay income under the plan.

You can buy the plan online via the official website of the insurer or via any partner website.

Yes, you can revive the iSelect Guaranteed Future Plan within 5 years of the date of last unpaid premium, as per the specified terms of the policy.

Yes, since smokers are at a higher risk of health issues, their premiums may also be higher than those of non-smokers.

Yes, the policy is a family health insurance plan. So, you can also get your parents covered under it.

Health insurance has become a necessity in today's times. It's no longer a luxury. A single hospitalisation can wipe out a major chunk of your savings or may even force you to compromise on quality health services.

The iProtect Smart comes with flexibility in choosing your premium payment. It can be done in a single premium, for a limited period, or throughout the policy term as per your income and evolving needs.

There are four payout options that are available with iProtect Smart. For instance, there is income option where nominee gets a monthly income for a set period; with lump sum income, the nominee gets lump sum + regular income for a set period; the lump sum, the nominee gets a lump sum amount; and with increasing income, the nominee gets an increasing income that increases every 10 years.

Yes, ICICI Prudential iPru Signature is a dual-purpose plan. It's a ULIP, or Unit-Linked Insurance Plan, that combines the features of life cover and investment components.

Partial withdrawals under the iPru Signature are free of cost and can be withdrawn unlimited times. However, the total amount should not exceed 20% of the fund value.

Yes, as per the value added covers, you can earn up to 20% rewards of the base premium. This can happen if you complete the Healthy Life Management Program.

ManipalCigna Sarvah Pratham offers discounts from the network provider on pharmacy, supplements, etc. Other discounts include:

5% discount on your first policy renewal
2.5% discount if the policy renewal is done 30 days before the policy expiry date
7.5% discount on a 2-year policy and 10% on a 3-year policy
10% discount on the premium if two members are covered under the same policy.

Disclaimer

10% Cumulative Bonus (CB) will be applied on the Base Sum Insured for each claim free Year, which can go up to a maximum of 100% of the Base Sum Insured.
# Expenses related to the treatment of a pre-existing disease (PED) and its direct complications shall be excluded until the expiry of 24 months of continuous coverage after the date of inception of the first policy with the insurer.

(For Detailed Information Refer to the Policy Wording)