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ICICI Pru SmartKid Assure is a market-linked savings and life insurance plan designed to help parents build a fund for a child’s future needs, including education and other milestones. It combines investment in market-linked funds with life cover and an in-built premium waiver benefit. A family income benefit option can provide periodic income if the insured parent dies during the policy term. The final fund value depends on investment performance and is not guaranteed.
Build a market-linked corpus for your child with life cover and in-built premium waiver
SmartKid Assure may suit parents who want to combine long-term investing with financial protection for a child. Its key value is the combination of market-linked fund choices, an in-built premium waiver, optional family income and withdrawal facilities after the applicable lock-in period. Premium requirements vary with the selected policy term: the official product page lists minimum investments of ₹30,000 annually for policy terms of 20–25 years and ₹48,000 annually for terms of 15–19 years. Market returns are not guaranteed, and ULIP investment risk is borne by the policyholder. Compare the policy illustration, charges, life cover and payout options before buying.
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.
Invest premiums in the available equity, debt and other eligible funds according to the product options.
Returns depend on market performance and are not guaranteed.
Future premiums may be waived following the insured parent’s death, allowing the policy benefits to continue subject to policy terms.
Benefit eligibility and conditions apply.
Provides a death benefit for the insured parent during the policy term, as defined in the policy.
The payable benefit depends on the policy terms.
An eligible family income option can provide periodic income following the insured parent’s death.
Available benefit and payout percentage depend on the option selected.
Permits eligible partial withdrawals after completion of the applicable lock-in period.
Withdrawals are subject to policy conditions and fund value.
Conditions or treatments that the policy clearly says it will not cover.
Insurer
ICICI Prudential Life plans and claim process
It is a child-focused market-linked savings and life insurance plan intended to help parents build a fund for future milestones while providing life cover and an in-built premium waiver benefit, subject to policy conditions.
The official product page lists a minimum investment of ₹30,000 per year for policy terms of 20–25 years and ₹48,000 per year for policy terms of 15–19 years. Check the insurer’s current quote for the selected option.
No. It is a ULIP, so returns are linked to market performance. The investment risk is borne by the policyholder, and illustrated returns are not guaranteed.
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)
The in-built premium waiver and any selected family income benefit may apply, subject to the policy conditions. Refer to the policy wording for the exact benefits and eligibility.
Eligible partial withdrawals may be available after the applicable five-year lock-in period, subject to policy conditions and available fund value.
No. SmartKid Assure is a market-linked savings-cum-insurance ULIP designed around a child’s future financial needs.
A structured payout option may be available after maturity. Check the current policy terms for the available settlement options.
It may be considered for long-term child-related goals, but compare the life cover, policy charges, lock-in, market risk and other savings options before deciding.