ICICI Pru – Signature
The Premium for ICICI Pru Signature Plan
For policies other than Whole Life policies, the minimum premium is Rs. 30,000 P.A.
For Whole Life policies, the minimum premium is Rs. 60,000 P.A.
Maximum premium amounts have no limit and are subject to underwriting guidelines.
Additional Riders for ICICI Pru Signature
Under this risk management plan, the policyholder cannot avail of any additional rider.
Eligibility for ICICI Pru Signature Plan
Entry Age: 0- 60 years
- For policies other than Whole Life- 18 – 75 years
- For Whole Life policies, Maximum age is 99 years.
What are the documents required to buy
- Identity proof documents. This includes the driving license, passport, or the
Aadhar card of the policyholder.
- Address proof documents. This includes the driving license, voter ID
passport or the Aadhar card of the policyholder.
- Income proof documents. This includes the income tax returns and salary
slips of the policyholder.
How to buy this plan online?
The applicant must follow the steps given below to buy online ICICI Pru Signature
Step 1: The buyer must enter his details such as age, health information, and
Step 2: The ICICI Pru Signature insurance calculator will calculate the premium
amount and the policy term for the given details.
Step 3: The applicant must then select the funds where he wishes to invest the
money from the 13 options provided in the various combinations of equity, debt and
balanced, from four portfolio strategies.
Step 4: He can then make the premium payment anywhere, anytime online through
the various payment options available.
Step 5: Once the person’s details and documents are verified, the policy will be
issued and the details will be sent to the insured through email or SMS message.
Exclusions of ICICI Pru Signature Plan
The ICICI Pru Signature Plan Insurance reviews suggest that is has a suicide clause
that states that:
If the life assured commits suicide within 12 months from date of policy
commencement or policy revival, only the Fund Value including the Top-up Fund Value, if any available on the date of death intimation will be payable to the nominee.
Charges other than the Fund Management and guarantee expenses that have been
recovered after the date of death will be added back to the Fund Value as on the
date of death.
In the scenario that the insured individual dies by committing suicide from the date of
the increase in Sum Assured, the amount of increase will not be considered in the
death benefit calculation.
Why you need this Plan ?
Here is a rundown of the core benefits offered
Maturity Benefit: As the plan becomes matured, the policyholder will receive the
Fund Value including the Top-Fund Value, if any. The insured has the option to
receive this benefit as a single lump sum amount or opt to avail of a structured
In the scenario of the unfortunate death of the insured during the
term of this plan, and given the funds are not in the discontinued policy fund, the
nominee or beneficiary is entitled to the Death Benefit which is the highest of:
- Sum Assured (including Top-up Sum Assured if any)
- Minimum Death Benefit: (105% of the total premiums including Top-up
- Fund Value (including Top-up Fund Value if any)
Surrender Benefit: If the insured wishes to surrender the policy within the first five
policy years, the Fund Value including the Top-up Fund Value, if any will be
transferred to the Discontinued Policy Fund. The nominee will be entitled to receive
the Discontinued Policy Fund Value on the death of the insured or expiry of the lock-
in period, whichever is earlier.
In case of surrender of the policy after the 5 years, the policyholder/nominee will
receive the applicable Fund Value.
Tax Benefit: The amount of premium paid, as well as the benefits received under
the ICICI Pru Signature Insurance Plan, are eligible for tax benefits, as per the
Section 10(10D) and Section 80 C of the Income Tax Act of 1961*.
*Tax benefit is subject to changes in tax laws