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.
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 |
Multiple portfolio strategies: Choose between 3 portfolio strategies. Choose a personalized portfolio strategy from;
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
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.
This is to inform that Suvision Holdings Pvt Ltd ("IndianMoney.com") do not charge any fees/security deposit/advances towards outsourcing any of its activities. All stake holders are cautioned against any such fraud.