Review of ICICI Pru Life Stage Wealth II Plan

What is ICICI Pru Life Stage Wealth II?

ICICI Pru Life Stage Wealth II is a unit linked insurance plan that offers multiple choices to decide how your savings would be invested based on your risk appetite. Further, it provides you with an insurance cover to help you realize your dreams without compromising your family’s protection.

ICICI Pru Life Stage Wealth II Detail Analysis

Minimum Premium	Premium payment option	Minimum annual premium(Rs.)
	Regular pay	Rs. 24,000
	Limited pay - 5	Rs. 48000
	Limited pay – 7	Rs. 36000
	Limited pay - 10	Rs. 24000
Maximum Premium	Rs. 1,00,000 per annum for all premium payment option
Modes of premium payment	Yearly / Half Yearly / Monthly
Policy Term	10, 15, 20, 25 or 30 years
Minimum age at entry	7 years
Maximum age at entry	65 years
Minimum age at maturity	18 years
Maximum age at maturity	75 years
Minimum Sum Assured for age at entry below 45 years	Higher of (10 × annual premium) and (0.5 × Policy Term × annual premium)
Minimum Sum Assured for age at entry 45 years and above	Higher of (7 × annual premium) and (0.25 × Policy Term × annual premium)
Maximum Sum Assured	As per maximum sum assured multiples

Key Features of ICICI Pru Life Stage Wealth II

Multiple portfolio strategies: Choose between 3 portfolio strategies. Choose a personalized portfolio strategy from;

• Fixed Portfolio Strategy: Option to allocate your savings in the funds of your choice.
• LifeCycle based Portfolio Strategy: A unique and personalized strategy to create an ideal balance between equity and debt, based on your age.
• Trigger Portfolio Strategy: A unique portfolio strategy to protect gains made in equity markets from any future equity market volatility while maintaining a pre-defined asset allocation

Flexible premium payment options: You can either pay premium throughout the policy term or for a limited period

Top up: Flexibility to invest surplus money over and above your regular premiums

Loyalty Additions: Paid at the end of every policy year, starting from the 10th policy year, on payment of all due premiums

Automatic Transfer Strategy: Helps you eliminate the need to time your investment

See Also: IRDA Caps New Charges on ULIP

ICICI Pru Life Stage Wealth II Charges

Premium Allocation Charge

This will be deducted from the premium amount at the time of premium payment and units will be allocated in the chosen fund thereafter.

Year 1	Year 2 Onwards
2%	0%

Top-Up Premium Allocation Charge

All top-up premiums are subject to an allocation charge of 2%.

Fund Management Charge (FMC)

The following fund management charges will be applicable and will be adjusted from the NAV on a daily basis.

Fund	FMC
Opportunities Fund	1.35% p.a.
Multi Cap Growth Fund	1.35% p.a.
Bluechip Fund	1.35% p.a.
Multi Cap Balanced Fund	1.35% p.a.
Income Fund	1.35% p.a.
Dynamic P/E Fund	1.35% p.a.
Return Guarantee Fund	1.25% p.a.
Money Market Fund	0.75% p.a.

This charge will be a percentage of the fund value. There will be an additional charge for the investment guarantee of 0.25% p.a. for the Return Guarantee Fund. This will be charged by adjustment to NAV.

Policy Administration Charge

The policy administration charge is a percentage of the annual premium and will be charged for the term of the policy

Policy year	Policy Administration Charge per month
Year 1 to PPT	0.47%
Thereafter	0.10%

This charge will be made by redemption of units.

Mortality Charges

Mortality charges will be deducted on a monthly basis on Sum Assured.

Switching Charges

Four free switches are allowed every policy year. Subsequent switches would be charged Rs.100 per switch. Any unutilized free switch cannot be carried forward to the next policy year.

Miscellaneous Charges

If there are any policy alterations during the policy term, they will be subject to a miscellaneous charge of Rs. 250 per alteration.

See Also: ULIP Charges in India

These charges will be deducted through redemption of units.