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ICICI Pru GIFT Select is a non-linked, non-participating individual life insurance savings plan. It combines life cover with guaranteed income and a maturity benefit. Depending on the selected option, policyholders can choose level income or increasing income, select when income begins, and decide the income period within the product rules. An instant cashback benefit may also be available under specified conditions.
Choose level or increasing guaranteed income, instant cashback options and a maturity benefit, subject to policy terms.
GIFT Select may suit people who want a structured income stream and defined policy benefits rather than market-linked returns. Its flexibility around income timing, income growth and maturity benefits is useful for planning long-term financial goals. However, the premium commitment can be substantial, especially for shorter premium-payment terms. Before buying, compare the official benefit illustration, total premiums, guaranteed payouts, maturity benefit, surrender conditions and life cover. Do not assume every advertised maximum benefit applies to every policy combination.
ICICI Prudential Life
Key Insights
Founded
2000
ICICI Prudential Life was established 26 years ago and has built strong credibility over time, backed by its long-standing presence in the market.
Claims Experience
99.3% CSR, calculated as a 3-year average
ICICI Prudential Life settles 99.3% of all claims it receives, demonstrating strong credibility.
Contact Details
1860-266-7766
Headquarters: Prulife Towers, 1089, Appasaheb Marathe Marg, Prabhadevi, Mumbai, Maharashtra 400025, India.
Provides a death benefit during the policy term as specified in the policy wording.
The payable amount depends on the policy terms and selected option.
Provides eligible guaranteed income payouts according to the selected option.
All due premiums and policy conditions must be satisfied.
Allows income to increase over time under the increasing-income option.
The applicable increase and payout schedule are defined by the policy.
An eligible cashback benefit may be paid after policy issuance.
Availability and amount depend on the chosen option and conditions.
Pays a maturity benefit at the end of the policy term when the policy conditions are met.
The benefit depends on the percentage and option selected at inception.
Conditions or treatments that the policy clearly says it will not cover.
Insurer
ICICI Prudential Life plans and claim process
It is a non-linked, non-participating individual life insurance savings plan that combines life cover with guaranteed income and maturity benefits, subject to policy conditions.
The minimum depends on the premium-payment term: the official product information lists ₹5,00,000 for a 2-year term, ₹2,00,000 for 3–4 years, ₹1,00,000 for 5–6 years and ₹50,000 for 7 years or more.
Yes. It provides life cover during the policy term as defined in the policy wording.
Disclaimer: Premium amounts are indicative and may vary based on age, health, and plan selected. Claim settlement ratios are from IRDAI Annual Reports. Finzony is not an insurance broker or agent. Verify all details on the official ICICI Prudential Life website before purchasing.
Official Website
iciciprulife.com
Visit the official ICICI Prudential Life website for plan brochures, premium quotes and policy services.
The aforementioned ratios have been averaged over three years (FY24-FY26)
Yes. An increasing-income option is available, subject to the policy terms and selected benefit structure.
Depending on the selected option, eligible guaranteed income can begin as early as the first policy month.
An instant cashback benefit may be available after policy issuance under specified conditions. Check the current brochure for eligibility and amount.
A maturity benefit is payable at the end of the policy term if the relevant conditions are met. The amount depends on the option selected at inception.
Flexi Save allows eligible income payouts to be deferred and accumulated according to the product rules.
The plan is described as non-linked, so its benefits are not directly linked to market performance. Guaranteed benefits remain subject to the policy terms.
Surrender value may be available under the policy rules. Review the official surrender provisions and benefit illustration before deciding.
Tax treatment depends on the prevailing tax laws and individual eligibility. Consult a qualified tax adviser for your situation.