Change in portfolio strategy & option in ULIP

Dear Rahul, Are you referring to 'Fund  - Switch' option?  

Dear Sreekanth, No,It is different. e.g under "Change in portfolio strategy" my current position is "Fixed" and new option is "Life cycle". I don't know what is this and how exactly it will affect my fund. I am referring to ICICI Pru Elite Wealth II fund. 

Hi, As per the plan product brochure :

• Fixed Portfolio Strategy: With this option, you can invest your money in equity and debt funds of your choice. You can also move your money from one fund to another to suit your investment needs.
• Lifecycle-based Portfolio Strategy: With this option, your money is automatically allocated to equity and debt funds based on your age. As you grow older, your money is steadily transferred from equity to debt to secure it when the policy matures.

Thank you so much for the explanation. Really appreciated.