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Disadvantages of ICICI Pru Signature Plan ? Review These charges bring down the returns significantly. In the first year itself, as high as 5% of the premium was lost in paying these charges. A Lock-in period of 5 years, it makes the investor difficult to come out of this ICICI Pru Signature policy.

ULIP Returns in last 10 Years & Its Importance Financial experts estimate that if you invest in ULIP insurance for at least 10 years, you may anticipate a 10 to 12 percent annual rate of return. This is one of the primary reasons why ULIPs are viewed as a sound long-term investment.

Premium payments for ICICI Pru Signature are eligible for tax benefits8 under Section 80C of the Income Tax Act, 1961. You can claim deductions up to ? 1.5 lakh from your taxable income for the premiums you pay every year. Also, the payouts are tax-exempted subject to the conditions under Section 10 (10D)*.

ICICI Prudential Life Insurance plans offer tax* benefits subject to conditions under Section 80C of the Income Tax Act, 1961. The premiums paid towards the life insurance plan qualify for tax deductions of up to ? 1.5 lakh in a financial year.

Firstly, ULIP premium paid up to ? 1.5 Lakh under Section 80C^^saves tax. Secondly, fund switches in a ULIP attract no tax. Thirdly, the proceeds received at ULIP withdrawal and maturity is exempt subject to the provisions of Section 10(10D) of the Income Tax Act, 1961.

The Premium for ICICI Pru Signature Plan For policies other than Whole Life policies, the minimum premium is Rs. 30,000 P.A. For Whole Life policies, the minimum premium is Rs. 60,000 P.A.

With ICICI Pru Signature, users can benefit from financial protection, loyalty rewards, unlimited free switches and tax benefits. Under the whole life option, policyholders can enjoy the plan's benefits till 99 years of age.