New Delhi: In order to diversify its portfolio, ICICI Prudential Life Insurance has unveiled a unit-linked insurance plan (ULIP) called ICICI Pru LifeTime Maxima. This new plan comes with two different portfolio strategies: Fixed and trigger portfolio. The fixed strategy offers an option for insurer to choose from any of the seven funds - Opportunities Fund, Blue-chip Fund, Multi-Cap Growth Fund, Multi-Cap Balanced Fund, Income Fund, Money Market Fund and Return Guarantee Fund. In trigger portfolio, the investments will be distributed between two funds - Multi-Cap Growth Fund and Income Fund - in a 75:25 ratio. The company will rebalance the portfolio when the fund allocation gets altered due to market movements based on a trigger event. The insurer defines a trigger event as a 15 percent upward or downward movement in net asset value (NAV) of Multi-Cap Growth Fund, since the previous rebalancing. The premium allocation charge is 7.5 percent for the first year, three percent for the second and third years and zero percent from the fourth year onwards. The fund management charge is in the range of 0.75-1.35 percent, depending upon the choice of funds. The policy administration charge is 0.8-0.9 percent, which is charged for the first five years. It allows four free switches every year and the subsequent switches would cost 100 each. The mortality charges vary from Re. 0.72 to 40.51 (per 1,000), depending upon the age and gender of the investor.