ICICI Pru Guaranteed Income for Tomorrow
A plan with Protection and savings oriented life insurance with guaranteed benefits to help and achieve life goals.
- Key highlights: Life insurance cover.
- Guaranteed benefits in the form of regular income.
- Option to receive guaranteed income from 2nd year onwards.
- “Save the date” feature to choose the date to receive Guaranteed Income
- Tax benefits are applicable on premiums paid and benefits received as per the prevailing tax laws.
A. INCOME OPTION:
Under this plan option, premiums are to be paid for 5/7/10 years and at the end of the policy term (PPT plus 1 year), Guaranteed Income would be received for 5/ 7/10 years. Benefits can be received monthly or annually.
Any time during the Income period or on policy, maturity can take Guaranteed Income as a lump sum.
B. Early Income
Under this option, get the policy benefits in the form of a regular income starting from as early as the 2nd year of the policy. The income received from 2nd year during the policy term is referred to as ‘Guaranteed Early Income’. The income received from the end of the policy term is referred to as ‘Guaranteed Income’.
DEATH BENEFIT:
Life Insurance Benefit is highest of:
a. Sum Assured on Death = 10 X annualised Premium.
b. 105% of Total Premiums Paid up to the date of death.
c. Annual Guaranteed Income X Death Benefit factor for Income Plan
In case of death of the Life Assured during the Income Period, the Claimant will continue to
receive the income. The Claimant shall have an option to receive the future income as a lump sum, which shall be the present value of the future income discounted at a rate of 9% p.a.
Eligibility:
Maximum age, minimum entry age:
Age at entry: Ranges between 18 and 60 years
depending on the Plan option.
Age at maturity:
Ranges between 18 and 71 years.
Policy Term :
Income option- 6/8/11 years
Early Income Option – 8/10 years
PPT options:
Income option- 5/7/10 years
Early Income option – 7/10 years
For more, visit : ICICI Pru Guaranteed Income for Tomorrow (GIFT)