Additional Features and Benefits Common to All 3 Plans 

SmartKid New Unit-linked Single Premium works in much the same way as SmartKid New Unit-linked Regular Premium policy mentioned above. The only different feature is the premium amount-you will be required to pay only a single premium, which starts at as low as Rs. 50,000.

Regular payouts: As your child approaches key educational milestones such as 12th standard or graduation exams, he or she will receive regular payouts, guaranteeing he or she continues to study, no matter what the circumstance.

Death Benefit: Your child will receive the Sum Assured immediately, should something happen to you. ICICI Prudential will pay the remaining premiums, ensuring your child continues to receive policy benefits, as always.

Income Benefit Rider: You can choose to add the benefits of this rider to your child's education plan. Should you depart before your son's or daughter's education is complete, you child will receive 10% of Rider Sum Assured, for the balance term of the policy.

Add-on riders: 'Accidental Death and Disability Rider' and 'Waiver of Premium Rider' ensure your child stays doubly protected, at all times. You can choose to add these to your child's education policy.

Tax benefits: Premiums you pay for a SmartKid policy are eligible for tax savings [u/s 80(C)]. Maturity and death benefits are eligible for tax exemptions [u/s 10(10D)].

Key benefits of ICICI Pru SmartKid New ULRP
Benefits in detail
.Death Benefit
In this policy, the investment risk in investment portfolio is borne by the policyholder.
As a responsible parent, you would not like to compromise your child's career, regardless of rising costs of education. You need an investment plan that is designed to provide money at key educational milestones and take care of your loved ones even if you are not around.

With this objective in mind, we now present, policy. With this policy, you can invest your money in unit-linked funds which allow you to withdraw money to meet expenses at key educational milestones of your child. Additionally, the life insurance cover offered under this policy ensures that your loved ones stay financially secure in your absence.

ICICI Pru Smart Kid New Unit-linked Regular Premium l Lump sum payment of Sum Assured plus company contributes future premiums in the unfortunate event of death of parent (life assured). l With Income Benefit Rider, the child (beneficiary) would receive an annual allowance every year till maturity, in the unfortunate event of death of parent.

Maturity Benefit
Based on the term chosen for this policy, you will be entitled to receive the Fund Value at the time of maturity. Alternatively, you can opt for the ettlement Options. On maturity of this policy, you will be entitled to receive the Fund Value at the time of maturity. This will include the Fund Value related to top-ups. Alternately, settlement options can be opted for.

Automatic Transfer Strategy
With this strategy, you can invest your premium as a lump sum amount in our money market fund (Preserver) and transfer a chosen amount every month into any one of the following funds: Multiplier II / Flexi 4 Growth II / R.I.C.H. II This facility will be available free of charge .

Switching Option
With this option you can switch between the investment funds at any time (provided the policy is in force), depending on your financial priorities and investment decision. In any policy year, 4 switches are  free of charge . The minimum switch amount is Rs. 2,000.

Top-Up
You can decide to increase your investment by investing additional money over and above your regular premiums, at your convenience. The minimum amount of top-up is Rs. 2,000. Top-up premiums can be
paid anytime during the term of the policy, as long as all due premiums have been paid. On availing of a Top up, there will be an increase of Sum Assured and you will get an option of choosing an increase of either
125% or 500% of the top up premium amount as the increase of Sum Assured.

Settlement Option
On maturity of the policy, you can choose to take the Fund Value as a structured benefit. With this facility, you can opt to receive payments on a yearly, half-yearly, quarterly or monthly (through ECS) basis, for a
6 period of 1,2,3,4 or 5 years (Settlement Period) post maturity . At any time during the settlement period, you can withdraw the entire Fund Value.

Money at Key Eductional Stages
You can make partial withdrawals from your Fund Value at key educational stages. Partial withdrawals will be allowed after completion of 5 policy years. You will be entitled to make one partial
withdrawal in a policy year up to a maximum of 25% of the Fund Value, subject to a maximum of 5 withdrawals during the entire term of the 7 policy. The minimum partial withdrawal amount is Rs. 2,000

Cover Continuance Option
This option ensures that your life insurance cover continues in case you are unable to pay premiums, anytime after payment of first three years premium. All applicable charges will be automatically deducted from the units available in your fund. You need to opt for cover continuance, if 8 you wish to avail of this benefit .

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