November 6, 2019

ICICI Direct SIP Protect

With a view to encourage individual investors to save and invest regularly through

Systematic Investment Plan (SIP) and help investors to achieve their financial

objectives, ‘ICICI Direct SIP Protect’ is provided as an add-on feature of life insurance

cover under Group Term Insurance to individual investors opting for the same, without

any extra cost to the investors. (The cost of the insurance premia will be borne by the

respective AMC).

What is ICICI Direct SIP Protect and its objective?

Only individual investors whose entry age is 18 years & more and less than

51 years at the time of investment are eligible to invest in ICICI Direct SIP

Protect. System automatically calculates the age of the investor while placing

the order in the ICICIdirect.com website.

Which investors are eligible to invest in ICICI

Direct SIP Protect?

ICICI Direct SIP Protect facility is available in more than 70 schemes across 3

AMCs i.e.

• ICICI Prudential AMC

• Nippon India AMC

• Aditya Birla Capital AMC.

Scheme details are mentioned below:

Which are the schemes offering the

ICICI Direct SIP Protect facility?

ICICI Prudential AMC

ICICI Prudential Asset Allocator Fund

ICICI Prudential Long Term Equity Fund (Tax Saving)

ICICI Prudential Large & Mid Cap Fund

ICICI Prudential Multi-Asset Fund

ICICI Prudential FMCG Fund

ICICI Prudential Equity & Debt Fund

ICICI Prudential Technology Fund

ICICI Prudential Multicap Fund

ICICI Prudential Smallcap Fund

ICICI Prudential Bluechip Fund

ICICI Prudential Banking and Financial Services Fund

ICICI Prudential Value Discovery Fund

ICICI Prudential Balanced Advantage Fund

ICICI Prudential MidCap Fund

ICICI Prudential Infrastructure Fund

ICICI Prudential Exports and Services

ICICI Prudential Regular Savings Fund

ICICI Prudential Focused Equity Fund

ICICI Prudential US Bluechip Equity Fund

ICICI Prudential Global Stable Equity Fund

ICICI Prudential Equity Savings Fund

ICICI Prudential Dividend Yield Equity Fund

ICICI Prudential Pharma Healthcare and Diagnostics (P.H.D) Fund

ICICI Prudential Manufacture in India Fund

ICICI Prudential India Opportunities Fund

ICICI Prudential Retirement Fund (Hybrid Conservative Plan)

ICICI Prudential Retirement Fund (Pure Equity Plan)

ICICI Prudential Retirement Fund (Hybrid Aggressive Plan)

ICICI Prudential Retirement Fund (Pure Debt Plan)

ICICI Prudential Bharat Consumption Fund

ICICI Prudential MNC Fund

Nippon India Growth Fund

Nippon India Vision Fund

Nippon India Retirement Fund

Nippon India Tax Saver (ELSS)

Nippon India Large Cap Fund

Nippon India Value Fund

Nippon India Multi Cap Fund

Nippon India Small Cap Fund

Nippon India Banking Fund

Nippon India AMC:

Nippon India Pharma Fund

Nippon India Power & Infra Fund

Nippon India Consumption Fund

Nippon India Focused Equity Fund

Nippon India Balanced Advantage Fund

Nippon India Equity Hybrid Fund

Nippon India Equity Savings Fund

Nippon India Hybrid Bond Fund

Aditya Birla Sun Life MNC Fund

Aditya Birla Sun Life India GenNext Fund

Aditya Birla Sun Life Dividend Yield Fund

Aditya Birla Sun Life Infrastructure Fund

Aditya Birla Sun Life Pure Value Fund

Aditya Birla Sun Life Small Cap Fund

Aditya Birla Sun Life Equity Hybrid '95 Fund

Aditya Birla Sun Life Equity Advantage Fund

Aditya Birla Sun Life Equity Fund

Aditya Birla Sun Life Index Fund

Aditya Birla Sun Life Midcap Fund

Aditya Birla Sun Life Digital India Fund

Aditya Birla Sun Life Frontline Equity Fund

Aditya Birla Sun Life Tax Relief '96

Aditya Birla Sun Life Focused Equity Fund

Aditya Birla Sun Life Regular Savings Fund

Aditya Birla Sun Life Banking And Financial Services Fund

Aditya Birla Sun Life Medium Term Plan

Aditya Birla Sun Life Credit Risk Fund

Aditya Birla Sun Life Retirement Fund - 50Plus Debt Plan

Aditya Birla Sun Life Retirement Fund - 30s Plan

Aditya Birla Sun Life Retirement Fund - 50s Plan

Aditya Birla Sun Life Retirement Fund - 40s Plan Regular Growth

Aditya Birla Capital AMC:

Yes. Nomination is mandatory and following fields need to be provided mandatorily:

1. Name of the Nominee.

2. Nominee Date of Birth (Guardian details if the nominee is minor).

3. Relationship with investor (Mandatory for all nominees).

4. Allocation Ratio

Is nomination mandatory in ICICI Direct

SIP Protect?

How will the sum assured be calculated for

registrations received under SIP Protect facility?

# Illustration for Calculation of Life Insurance Cover

Suppose a person has enrolled for SIP Protect under quarterly frequency with Min

installment amount of Rs. 3000 per quarter for a period of 3 years and also for yearly

frequency with Min installment amount of Rs. 12000 per year for a period of 3 years

Following is the way he should calculate the eligible life insurance cover for different years

Step-2: Now he can refer to the formula for calculation of eligible insurance cover

(under quarterly as well as yearly frequencies each) which is as follows;

The Life Insurance Cover under ‘SIP Protect’ facility will be as per the following clause;

Year 1 – 10 Times the equivalent # Monthly SIP Installment = 10 * 1000 = Rs 10,000

Year 2 – 50 Times the equivalent # Monthly SIP Installment = 50* 1000 = Rs 50,000

Year 3 onwards – 100 (120- In case of Nippon India) Times the equivalent

# Monthly SIP Installment = 100 * 1000 = Rs.1,00,000

Step-1: Before he calculates as per the formula, he should find out the equivalent monthly

installment for his SIP amount.

For Quarterly frequency, it is 3000/3 = Rs 1000 becomes his equivalent monthly SIP installment

For Yearly frequency, it is 12000/12 = Rs 1000 becomes his equivalent monthly SIP installment

Yes, the investor can change the bank details for ICICI Direct SIP Protect during

the tenure.

Can investor change the bank details

for ICICI Direct SIP Protect during the tenure?

The registered nominee in the folio can submit the claim request in case of death of

the insured who has opted for SIP Protect.

Who can submit the claim request in case of death

of the insured who has opted for SIP Protect?

In case of death of the insured, the nominee needs to submit the claim

documents to respective insurance company.

Where does the nominee need to submit the

SIP Protect claim documents in case of

death of the insured?

It takes 45 calendar days for the SIP Protect claim to be processed from the

receipt of claim request by respective Life Insurance Company in case of death of

the insured.

How many days does it take for the SIP Protect

claim to be processed in case of death

of the insured?

The Insurance cover shall commence after “waiting period” of 45 days

from the commencement of SIP installments. However, the waiting period

will not be applicable in respect of accidental deaths.

When will the insurance cover commence

under ICICI Direct SIP Protect?

The insurance cover shall cease upon occurrence of any of the following:

• At the end of mandated SIP Protect tenure. i.e., upon completion of payment of all the

instalments as registered or till attaining 55 years (60 Years in ABCSL AMC) of age

whichever is earlier.

• Partial or Full Redemption / switch-out of units purchased under SIP Protect before

completion of the mandated SIP tenure / instalments or till attaining 55 years (60

Years in ABCSL AMC), whichever is earlier.

What are the scenarios under which the

Insurance Cover would cease to exist?

Note: There will be no provision to revive the insurance cover in SIP Plus, once discontinued for reasons stated

above. Also, AMC reserves the right to discontinue the insurance cover, if any other transaction such as, switch-out,

STP, folio consolidation request (in non-specified format) or physical to demat is made under this folio.

• In case of default in payment of three consecutive monthly / quarterly / yearly SIP

instalments or five separate occasions of such defaults during the tenure of the SIP

duration chosen or till attaining 55 years (60 Years in ABCSL AMC), whichever is

earlier.

• Discontinuation of SIP instalments before completing the minimum period of

contribution (Monthly-36 instalments; Quarterly-12 instalments; Yearly-3 instalments)

of the opted SIP tenure.

No insurance cover shall be admissible in respect of death of the SIP-Insure

unit holder (the insured person) on account of:

• Death due to suicide shall be dealt with as per IRDAI Regulations.

• Death within 45 days from the commencement of SIP installments except

for death due to accident.

• Death due to pre-existing illness, disease(s) or accident which has occurred

prior to the start of cover.

What are the exclusions for insurance cover

in case of ICICI Direct SIP Protect?

The investor will receive an Insurance Cover Note directly from the insurance

Company on yearly renewals via sms/email link. Alternatively, investor can download

the same from the insurance website.

Will the investors be intimated on yearly renewal

of the Insurance Cover?

The investor will receive an initial confirmation from AMC on acceptance of SIP Plus

registrations and will receive an Insurance Cover Note directly from the Insurance

Company subsequently by email/SMS link and through physical mode. The whole

process of insurance registration will take a minimum of 45-60 days for completion.

Alternatively, investor can down load the Certificate of Insurance (COI) from the

insurance website.

How will the investor be intimated that insurance

is registered for the folio?

ICICI Securities Ltd. (I-Sec). Registered office of I-Sec is at ICICI Securities Ltd. - ICICI Centre, H. T. Parekh Marg, Churchgate,

Mumbai - 400020, India, Tel No : 022 - 2288 2460, 022 - 2288 2470. I-Sec is a Member of National Stock Exchange of India

Ltd (Member Code :07730) and BSE Ltd (Member Code :103) and having SEBI registration no. INZ000183631. Name of the

Compliance officer (broking): Mr. Anoop Goyal, Contact number: 022-40701000, E-mail address:

complianceofficer@icicisecurities.com. Investment in securities market are subject to market risks, read all the related

documents carefully before investing. Composite Corporate Agent License No.CA0113, AMFI Regn. No.: ARN-0845. We are

distributors of Insurance and Mutual funds, Corporate Fixed Deposits, NCDs, PMS and AIF products. We act as a

Syndicate, Sub -syndicate member for IPO, FPO. Please note that Mutual Fund Investments are subject to market risks, read

the scheme related documents carefully before investing for full understanding and detail. Insurance is the subject matter of

solicitation. ICICI Securities Ltd. does not underwrite the risk or act as an insurer. The contents herein above shall not be

considered as an invitation or persuasion to trade or invest. I-Sec and affiliates accept no liabilities for any loss or damage

of any kind arising out of any actions taken in reliance thereon.

Disclaimer