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app.icici-pru-signature-calculator.title
app.icici-pru-signature-calculator.title

app.icici-pru-signature-calculator.title

app.icici-pru-signature-calculator.description

app.icici-pru-signature-calculator.description

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ICICI Pru Signature Calculator

ICICI Pru Signature is a Unit Linked Insurance Plan (ULIP) - it bundles a life insurance cover with a market-linked investment fund. Two features set it apart on this site: a choice of 4 Portfolio Strategies (Fixed, Trigger, Dynamic Fund Allocation, or Pay Four Get Five) to match how hands-on you want to be with your fund mix, and a Return of Mortality Charge + Policy Administration Charge (RoMC + RoPAC) - every Mortality Charge and Policy Administration Charge deducted across the policy term is credited back to your fund as a single lump sum at maturity. This calculator projects your fund value at maturity using the two assumed investment return scenarios - 4% p.a. and 8% p.a. - that IRDAI requires every ULIP benefit illustration to show.

How the Fund Value Is Calculated

Each policy year, a small Premium Allocation Charge is deducted from your premium (only in Years 1-3, tapering to 0% from Year 4 onwards), and the rest is invested. From the invested amount, a Mortality Charge (the cost of the life cover) and a Policy Administration Charge are further deducted. What's left is added to your fund, which then grows (or shrinks) at the assumed rate, net of the Fund Management Charge for your chosen portfolio strategy:

FVt=max⁡(FVt−1+Pt(1−ACt)−MCt−PACt, 0)×(1+r−FMC)FV_t = \max\big(FV_{t-1} + P_t(1 - AC_t) - MC_t - PAC_t,\ 0\big) \times (1 + r - FMC)

At maturity (year T), every Mortality Charge and Policy Administration Charge collected over the full term is added back to the fund in one lump sum:

FVT+=∑t=1T(MCt+PACt)FV_T \mathrel{+}= \sum_{t=1}^{T} (MC_t + PAC_t)

Where:

  • FV_t - fund value at the end of policy year t
  • P_t - premium paid in year t (₹0 once the Premium Payment Term ends)
  • AC_t - Premium Allocation Charge rate in year t (2% in Year 1, 1.5% in Year 2, 1% in Year 3, 0% from Year 4)
  • MC_t - Mortality Charge deducted in year t, based on the Sum at Risk (Sum Assured minus current fund value) and your attained age
  • PAC_t - Policy Administration Charge deducted in year t
  • r - assumed gross investment return for the scenario (4% or 8% p.a.)
  • FMC - annual Fund Management Charge rate for the chosen portfolio strategy

Life Cover (Sum Assured)

The Sum Assured is set as a multiple of your Annual Premium, per the IRDAI minimum sum assured norm for regular-premium ULIPs:

Sum Assured=Annual Premium×{10,Age at Entry<457,Age at Entry≥45\text{Sum Assured} = \text{Annual Premium} \times \begin{cases} 10, & \text{Age at Entry} < 45 \\ 7, & \text{Age at Entry} \geq 45 \end{cases}

The 4 Portfolio Strategies

Strategy What it does Fund Management Charge
Fixed Portfolio Strategy You choose and control your own equity-debt fund mix throughout the term 1.35% p.a.
Trigger Portfolio Strategy Gains are auto-transferred from the equity fund into a protector debt fund whenever a target return is hit, locking in gains 1.25% p.a.
Dynamic Fund Allocation Strategy Equity allocation automatically reduces as you approach maturity, to protect the corpus 1.15% p.a.
Pay Four Get Five Strategy A bonus equal to one year's premium is added in Policy Year 5, on top of your own premiums 1.35% p.a.

Return of Mortality + Admin Charges (RoMC + RoPAC)

Unlike plans that smooth loyalty-style bonuses in gradually every year, ICICI Pru Signature is modeled here as returning the entire running total of Mortality Charges and Policy Administration Charges deducted since Year 1, in a single credit at the maturity year. This partially offsets the cost of the life cover and policy administration over the years, though the exact amount returned depends on how the Sum at Risk (and therefore the Mortality Charge) evolved as your fund value grew.

Charges Used in This Illustration

Charge Rate
Premium Allocation Charge 2% (Year 1), 1.5% (Year 2), 1% (Year 3), 0% (Year 4 onwards)
Fund Management Charge 1.35% p.a. (Fixed / Pay Four Get Five), 1.25% p.a. (Trigger), 1.15% p.a. (Dynamic Fund Allocation)
Policy Administration Charge ₹60/month in Year 1, increasing 5% each year, capped at ₹500/month
Mortality Charge Per ₹1,000 of Sum at Risk, rising with attained age (from ~₹0.9 at age 25 to ~₹30 at age 75)
Return of Mortality + Admin Charges 100% of cumulative Mortality and Policy Administration Charges, credited once at maturity

These figures are illustrative and modeled on the general shape of Indian ULIP charge structures - they are not a reproduction of ICICI Prudential Life's actual current product brochure or benefit illustration for UIN 105L177V13. Always check the official Benefit Illustration and policy document before buying.

How to Use This Calculator

  1. Enter your Age at Entry.
  2. Enter the Annual Premium you plan to pay.
  3. Choose the Policy Term - how long the policy runs.
  4. Choose your Premium Payment Option - pay premiums for the full Policy Term (Regular Pay), or stop paying earlier (Limited Pay) while the cover continues for the full term.
  5. Choose a Portfolio Strategy based on your risk appetite and how involved you want to be in managing the fund mix.
  6. Submit to see your projected Life Cover, total premiums paid, the Return of Mortality + Admin Charges expected at maturity, projected fund value under both assumed return scenarios, an approximate net yield, and a year-by-year fund value schedule.

Worked Example

A 30-year-old paying an Annual Premium of ₹1,00,000 for a 20-year Policy Term (Regular Pay), under the Fixed Portfolio Strategy:

  • Sum Assured: ₹10,00,000 (10x Annual Premium, since entry age is under 45)
  • Total Premiums Paid: ₹20,00,000 (₹1,00,000 x 20 years)
  • Projected Fund Value @ 4% p.a.: approximately ₹26,43,998
  • Projected Fund Value @ 8% p.a.: approximately ₹41,58,262
  • Return of Mortality + Admin Charges @ 8% scenario: approximately ₹30,246
  • Approx. Net Yield @ 8% scenario: about 3.73% p.a. - lower than the 8% assumed gross return because of the mortality, allocation, and fund management charges deducted along the way, partially offset by the Return of Mortality + Admin Charges credited at maturity

Important Notes

  • This is market-linked, not guaranteed. Unlike a traditional endowment plan, the fund value depends entirely on the actual performance of the chosen portfolio strategy. The 4% and 8% figures are illustrative assumptions mandated by IRDAI for comparison purposes, not a promise, floor, or ceiling on your actual returns.
  • The Premium Allocation Charge only applies in the first 3 years - every premium from Year 4 onwards is invested in full, before mortality and fund management charges.
  • The Return of Mortality + Admin Charges is not a guaranteed cash bonus - it is credited as additional units to your existing market-linked fund at maturity, so its final rupee value still depends on the fund's performance up to that point.
  • 5-year lock-in. As with all ULIPs in India, withdrawals are not permitted during the first 5 policy years.
  • Tax benefits may be available on premiums under Section 80C and on the maturity/death benefit under Section 10(10D) of the Income Tax Act, subject to the conditions in force at the time.
  • This calculator is for educational illustration only and does not constitute financial or insurance advice. Refer to the official ICICI Pru Signature policy document and benefit illustration before making any purchase decision.