ICICI Prudential Cash Advantage Investment Plan | PolicyX
ICICI Prudential ICICI Prudential ★ 4.6

ICICI Pru Cash Advantage

ICICI Pru Cash Advantage is a non-linked individual life insurance sav ...Read More

🛡️ IRDAI Approved
4.6/5 · 917 reviews
📊 80 years solvency ratio
Minimum Age - 5 year% claim settlement ratio
🌐 Annual, half-yearly,+ pan-India

About ICICI Pru Cash Advantage

A quick read on what this ICICI Prudential term plan covers and why it might be a fit for you.

ICICI Pru Cash Advantage is a non-linked individual life insurance savings plan that offers comprehensive benefits of savings and protection. This plan provides a guaranteed monthly income for 10 years and an additional cash bonus for each policy year (if declared).

You can also avail a policy loan against ICICI Pru Cash Advantage for up to 80% of your surrender value. It is an ideal savings plan for individuals seeking a payout term immediately after the premium payment term.

ICICI Pru Cash Advantage is a diverse life insurance plan. Let's explore its benefits in detail:

  • Guaranteed Monthly Cash Payout
  • Tax Benefits
  • Flexibility
  • Life Cover
  • Flexible Premium Payment Term (PPT)
  • Loan Benefits

Eligibility Criteria for ICICI Pru Cash Advantage

Entry age
Entry age
Minimum Age - 30 Days, Maximum Age - 60 Years
Maturity age
Maturity age
Maximum Maturity Age - 75 years
Policy term
Policy term
15 to 20 years
Sum assured
Sum assured
5/10 Years
Policy loan
Policy loan
Annual / Half-yearly / Monthly
Payment Modes
Payment Modes
Minimum - 7 times / Maximum - 10 times the available SA

Pros & cons

A quick honest summary — the strengths and the trade-offs.

Pros

  • Loan Benefit
  • Tax Benefits
  • Maturity Benefit

Cons

  • Pre-existing Condition Exclusion
  • Suicide Exclusion
  • Death Due to Aviation Accident

Who can buy this plan

Eligibility criteria pulled straight from the policy wording.

Minimum Entry Age: 1 year
Maximum Entry Age: 60 years
Minimum Sum Assured: 7 times available SA
Maximum Sum Assured: 10 times available SA
Maximum Policy Term: 20 years

How Does the ICICI Pru Cash Advantage Plan Work?

Let's understand how the ICICI Pru Cash Advantage Plan works with a simple premium illustration.

Problem

Sanchit Jain, a 30-year-old, is looking for an investment plan to create long-term wealth for his child.

Solution

His financial advisor advised him to buy the ICICI Cash Advantage. He visited PolicyX.com.

Let's understand how the ICICI Cash Advantage Plan works for him with a premium illustration table:

Age of Policyholder Guaranteed Cash Benefit Guaranteed Maturity Benefit Bonuses Life Cover
30 years Rs. 5,307 per month Rs. 5.31 lakh Rs. 10.63 lakh Rs. 10 Lakh

Benefits of ICICI Pru Cash Advantage

There are various benefits to buying the ICICI Pru Cash Advantage Plan. Let’s understand each of them in detail:

  • Death Benefit: In case of the unfortunate demise of the life assured during the policy term, a death benefit will be paid to the nominee.
  • Maturity Benefit: Upon the life assured’s survival till the end of the policy term, ICICI Pru Cash Advantage will provide a Guaranteed Maturity Benefit plus vested reversionary bonuses (if any) and a terminal bonus (if any). The plan also offers the flexibility to choose to receive the annual income under guaranteed, lifelong, and long-term income options.
  • Tax Benefits: This plan offers tax benefits under different sections, which can go up to INR 2.5 Lakh under Section 10(10)D.

Features of ICICI Pru Cash Advantage

Key features that make ICICI Pru Cash Advantage stand out.

Guaranteed Benefit

It offers the Guaranteed Cash Benefit (GCB), equal to 1% of GMB every month for a payout term of 10 years.

Life Cover

You get life coverage throughout the entire policy term.

Loan Benefit

You can avail of loan benefits depending upon your surrender value.

Flexible Payments

It offers limited premium payment terms, including 5, 7, and 10 years.

Documents Required for ICICI Pru Cash Advantage

Keep these documents handy when applying for ICICI Pru Cash Advantage.

Photo ID Proof

Any one of the following: Passport, Aadhaar card, PAN card, Driving license.

Age Proof

Any one of the following: Passport, Aadhaar card, PAN card, Driving license.

Address Proof

Any one of the following: Utility bill, Passport, Voter ID, Ration card.

Medical Records

Medical records of the policyholder, if requested.

Income Proof

Any one of the following: Bank statement, last three months' salary slips (for salaried individuals).

Exclusions of ICICI Pru Cash Advantage Plan

  • Suicide within 12 months of policy purchase
  • Death due to consumption of any intoxicants
  • Death due to any aviation accident
  • Death due to any adventurous sports

Other Features of ICICI Pru Cash Advantage

Here are the key features of the ICICI Pru Cash Advantage.

Conclusion

If you are looking for an investment plan that offers guaranteed returns for you and your family, consider ICICI Pru Cash Advantage. This plan provides guaranteed benefits.

ICICI Pru Cash Advantage: FAQs

The 7 most-asked questions about ICICI Pru Cash Advantage, answered.

Visit the official website of ICICI Prudential Life Cash Advantage and click on endowment plans to find ICICI cash advantage plan.
1 year.
Yes, ICICI Pru Cash Advantage offers loan facilities to its customers.
Yearly/Monthly.
It is offering a 10-year payout period to its customers.
Yes, you can avail of tax benefits under sections 80C, 80D, and 10(10D).
Yes, the total maturity amount is tax-free.

Written and reviewed by

PolicyX content is researched in-house and reviewed by an IRDAI-certified insurance specialist before publication.

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