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ICICI Pru1 Wealth Calculator

ICICI Pru1 Wealth is a Unit Linked Insurance Plan (ULIP) - it bundles a life insurance cover with a market-linked investment fund. Its headline feature is a Zero Premium Allocation Charge: unlike many ULIPs that deduct 3-5% of your premium before investing the rest, 100% of every premium you pay goes into your chosen fund from Year 1 onwards. On top of that, it credits annual Loyalty Additions from the 6th policy year, and periodic Wealth Boosters every 5th year from the 10th policy year onwards. 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, your entire premium (while you're still paying it) is invested - there is no allocation charge to deduct first. From the invested amount, a Mortality Charge (the cost of the life cover) and a Policy Administration Charge are 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 fund. From Year 6 onwards a Loyalty Addition is credited, and every 5th year from Year 10 a Wealth Booster is credited:

$$FV_t = \Big[\max\big(FV_{t-1} + P_t - MC_t - PAC_t,\ 0\big) \times (1 + r - FMC)\Big] \times (1 + LA_t) + WB_t$$

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) - fully invested, with zero allocation charge
• 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 fund
• LA_t - Loyalty Addition rate (0.25% of the fund value), applied from Year 6 onwards
• WB_t - Wealth Booster amount, credited only in Years 10, 15, 20, 25, and 30, equal to 3.5% of the average fund value over the preceding 5 policy years

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:

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

Wealth Boosters: Average Fund Value, Not Cumulative Premium

A distinguishing feature of ICICI Pru1 Wealth's Wealth Booster is how it's sized: instead of being a percentage of your cumulative premiums paid to date, it's 3.5% of your fund's own average value over the preceding 5 policy years. This means the booster grows with your fund's actual market-linked performance - a well-performing fund earns a larger booster in absolute terms, on top of already having a larger fund value.

Charges Used in This Illustration

Charge	Rate
Premium Allocation Charge	0% - fully invested from Year 1
Fund Management Charge	1.35% p.a. (Bluechip / Opportunities), 1.25% p.a. (Balanced Advantage), 0.95% p.a. (Income)
Policy Administration Charge	₹50/month in Year 1, increasing 5% each year, capped at ₹450/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)
Loyalty Addition	0.25% of fund value, credited every year from Year 6 onwards
Wealth Booster	3.5% of the average fund value over the preceding 5 years, credited every 5th year from Year 10 onwards

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. 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 Fund Option based on your risk appetite.
6. Submit to see your projected Life Cover, total premiums paid, projected fund value at maturity 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), invested in the Bluechip Fund:

• 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 ₹28,87,800
• Projected Fund Value @ 8% p.a.: approximately ₹45,81,600
• Approx. Net Yield @ 8% scenario: about 4.23% p.a. - lower than the 8% assumed gross return because of the mortality and fund management charges deducted along the way, partially offset by the zero allocation charge, Loyalty Additions, and Wealth Boosters

Important Notes

• This is market-linked, not guaranteed. Unlike a traditional endowment plan, the fund value depends entirely on the actual performance of the underlying fund. The 4% and 8% figures are illustrative assumptions mandated by IRDAI for comparison purposes, not a promise, floor, or ceiling on your actual returns.
• Zero allocation charge means more of your money is invested sooner, but the fund is still reduced every year by mortality and fund management charges.
• Loyalty Additions and Wealth Boosters are not guaranteed cash bonuses - they are additional units credited to your existing market-linked fund, and so are still subject to market performance afterwards.
• 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 Pru1 Wealth policy document and benefit illustration before making any purchase decision.