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ICICI Prudential Life Insurance Company is a joint venture between ICICI Bank Limited and Prudential Corporation Holdings Limited. The company was founded in 2001 and since then it never looks back and been amongst the top players of the insurance sector. The company operates with the philosophy of customer-centricity. It offers long term saving and protection offers for a secured future. The company has developed and implemented several initiatives to offer cost-effective products and services.
Its hassle-free claims process and consistent fund performance are attracting people on a daily basis. It is also the first insurance company in India to be listed on NSE and BSE.
|Business Line||Life Insurance|
|Total Earned Premium 2017-18||Rs.27068.77 crore|
To deal with different needs of customers and to stand with them at every crucial stage of life, ICICI Prudential Life Insurance has come out with 3 innovative online pension plans. The best thing about is that you can buy its pension products online easily. Below is the list of all ICICI Prudential Life Pension Plans.
It is a unit-linked pension plan that offers regular income to the insured to secure their golden years with the potential growth of equity and debt funds. It makes sure that you do not lose your money. Under the same, Equity and debt participation provides better returns and secure your invested money during market ups and downs along with a right balance of capital guarantee, equity and participation among others. It is a strong combination of growth and protection which allows you to enjoy the best of both worlds.
|Entry Age||30- 80 years|
|Policy Term||10,15,20,25,30 years among others|
|Premium Payment Term||5, 10 or policy term|
|Min/Max Premium||Rs.48000/No limit|
|Min/Max ag at vesting||45/80 years|
It is a non-linked life insurance plan that offers guaranteed income to handle your daily expenses or anything else. With this plan, you can also leave a legacy for your children. It comes out with a range of payout options to deal with different needs. This plan assures a regular stream of income throughout your life with options to match your needs. With the same, you will get multiple annuity options as well and flexibility to receive income on a monthly, quarterly, half-yearly and yearly basis.
|Entry Age||Minimum- 20 years|
|Free Look Period||15-30 days|
It is a pension plan that offers the benefit of equity participation with the comfort of a capital guarantee. The plan allows you to invest any amount in the form of Top-ups. It offers regular income as per your needs. Under the same, you have to invest only once to avail pension post retirement. It protects your savings from market downturn through an assured benefit. It also offers tax benefits.
|Entry Age||35 - 80 years|
|Premium Payment Term||Single|
|Min/Max Age at Vesting||45/90 years|
|Policy Term||10,15,20,25 and 30 years|
Securing the future without any income may be hard, which is why it is imperative to invest in a great retirement scheme. ICICI Prudential gives schemes that offer healthy returns, safety to the policyholder and much more. However additionally ut also covers the insured's partner. You can choose a plan based on his/her economic requirements, with the option to modify them. Its online platform is great to buy best pension plan in India.
Some of the key benefits of making an investment in ICICI Prudential Pension plans are highlighted beneath:
While investing in an ICICI pension plan, it is important to keep the focus on a few things. Blow are such things that you must keep in mind while buying pension plans
No, the pension plan does not end after the policyholder's death. IT varies from plan to plan, either the partner or the chosen beneficiary will be entitled to receive a pension after the insured's death.
Yes. You can invest in multiple pension plans with private banks and other commercial pension plan policy providers. However, it is not liable for government pension schemes.
If you want to surrender the policy before the maturity, the entire value will be added to your annual income and you have to pay tax for the same as per your income tax slab.
It depends upon the chosen form of the pension plan. Mostly, any contribution to the pension fund will be deducted gross income that leads to tax savings. In case of maturity, you can also withdraw the ? or the accumulated pension without paying any tax.
A participating plan allows the insured person to share the profits in the form of bonuses or dividends. Whereas, in a non-participating plan, the profits are not shared and there will be no dividends.
You can check bothy, by simply visiting the site and login in. There will be an option to check status, fill basic details and yes you will get all the required details on your screen.
Yes, almost all forms of life insurance plans do come out with tax benefits. With it, you will be able to save more.
Yes, with ICICI Pension Plans, you can postpone your dates any number of times. THere will be no restriction on that.
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Last updated on 20-11-2019