SBI Life smart income protect plan

SBI Life smart income protect plan

SBI Life smart income protect plan is a participating non linked endowment plan which provides live coverage as well as saving to the policy holder after the policy term it provides a regular annual benefit it secures the family future and also secures the future of policyholder as savings.

Features of SBI Life smart income protect plan.

  • It is a non participating traditional endowment plan that means, it is free from market risk.
  • It is a regular premium paying policy plan that means the policyholder will have to pay the premium equal to the policy term.
  • In case of policyholder survives throughout the policy term. Then there is a provision of maturity benefit.
  • In case of policy holder made to death within the policy term. Then there is a provision of death benefit.
  • There is discount on premium available on higher sum assured plans.
  • The claim is provided as a lump sum or through the monthly installments.

SBI Life smart income protect plan

Benefits provided under SBI Life smart income protect

  • Death benefit
    If the policy holder meet to death within the policy term. Then the nominee of the policy holder will get the death benefit. The death benefit provided is sum assured on death + simple reversionary bonus plus additional bonus if any or 105% off all the premium paid before death.
  • Maturity benefit
    If the policyholder survives throughout the policy term. Then the policyholder will get the maturity sum amount. The maturity sum amount is equal to basic sum assured + reversionary bonus + terminal bonus if any. After that 11% off sum assured repaired for 15 years as annual payouts.

There is alternative option for maturity benefit in that 110% of sum assured plus revisionary bonus and terminal bonus is paid to the policyholder as per his choice.

  • Tax benefit
    According to Income Tax Act section 80c. The premium paid under this plan is tax free also according to Section 10 D. The claim received is tax free that means it is going to save your tax on the amount paid as premium.

 

Eligibility condition for the SBI Life smart income protect.

  • The minimum age for the entry of this plan for 7 years policy term is 11 years and the maximum age of entry for 7 years policy term is 58 years.
  • The minimum age of entry for 12 year policy term and 15 years policy term is 8 years and the maximum age for entry for 12 years policy term is 53 years and for 15 years policy term is 50 years
  • The minimum maturity is age 18 years and the maximum maturity is age 65 years
  • The policy can be taken for the term of 7 years 12 years or 15 year.
  • The premium paying term is equal to the policy term that means, if policyholder has got a policy of term 7 years then he will have to pay the premium for whole 7 years.
  • The premium can be paid monthly, quarterly, half yearly or annually.
  • Minimum sum that can be assured is rupees 1 lakh and there is no upper limit for the sum assured.

Documents required for SBI life smart income protect.

  1. Offline/Online filled application form.
  2. Age proof of policy buyer.
  3. Address proof.
  4. PAN card and Aadhar card for KYC document
  5. Accurate medical history
  6. Medical examination report if required.

Terms related to SBI Life smart income protect.

Additional Riders
Additional Riders are available only for the higher sum assured that is more than 2 lacs, available riders are following:

  1. SBI Life accidental death benefit
  2. SBI Life accidental total and permanent disability
  3. SBI Life Critical Care
  4. SBI Life preferred term

Free look period
If the policy buyer is not satisfied with the policy and it’s terms and condition or anything else . Then within 15 days after receiving the policy documents the policy can be cancelled.

  • Grace period
    There is a provision of grace period for 15 days for the monthly premium payers as late premium and 30 days for other premium payment options as late premium.
  • Revival of policy
    If the premium is not paid within the grace period then the policy get lapsed in this case the policy can be revived within the period of 2 years from the last premium paid.
  • Surrender of policy
    Policy can be surrendered or terminated after the completion of 2 or 3 years of the policy term. Only after 2 or 3 years the policy will be able to get a surrender value.
  • Loan benefit
    There is facility of loan available according to this policy plan as per the terms and condition of the corporation.
SBI Life smart bachat

SBI Life smart bachat plan is non participating traditional endowment plan. It was launched on 24th January 2017 with unique ID number 111N108V01. It provides a complete savings and protection to the policyholder. It provides a good long term investment on payment of small amount of money and also protection if any unfortunate incidence happens to the life of policy holder. In that case it secure the future of the family by providing various benefits.

Features of SBI Life smart bachat

  • It is a non participating traditional endowment plan that means, it is free from market risk.
  • It is a Limited premium paying endowment plan that means the policyholder will not have to pay the premium to the whole policy term.
  • In case of policyholder survives throughout the policy term. Then there is a provision of maturity benefit.
  • In case of policy holder made to death within the policy term. Then there is a provision of death benefit.
  • There is discount on premium available on higher sum assured plans.
  • The claim is provided as a lump sum or through the monthly installments.

Benefits provided under SBI Life smart bachat

Death benefit
If the policy holder meet to death within the policy term. Then the nominee of the policy holder will get the death benefit. The death benefit provided is sum assured on death + simple reversionary bonus plus additional bonus if any or 105% off all the premium paid before death.

Maturity benefit
If the policyholder survives throughout the policy term. Then the policyholder will get the maturity sum amount. The maturity sum amount is equal to basic sum assured + reversionary bonus + terminal bonus if any.

Tax benefit
According to Income Tax Act section 80c. The premium paid under this plan is tax free also according to Section 10 D. The claim received is tax free that means it is going to save your tax on the amount paid as premium.

SBI Life smart bachat

Eligibility condition for the SBI Life smart bachat

  • The entry age for this plan is minimum 8 year only with endowment option. For accidental death and disability benefit the minimum age is 18 years.
  • The maximum age for the entry of this plan is 50 years.
  • The policy can be taken for the term of 5 years 10 years or 15 year.
  • The premium paying term can be chosen from 5 years 7 years 10 years 15 years according to the policy chosen
  • The premium can be paid monthly, quarterly, half yearly or annually.
  • Minimum sum that can be assured is rupees 1 lakh and there is no upper limit for the sum assured.

Documents required for SBI life smart bachat

  1. Offline/Online filled application form.
  2. Age proof of policy buyer.
  3. Address proof.
  4. PAN card and Aadhar card for KYC document
  5. Accurate medical history
  6. Medical examination report if required.

Terms related to SBI Life smart bachat

  • Free look period
    If the policy buyer is not satisfied with the policy and it’s terms and condition or anything else . Then within 15 days after receiving the policy documents the policy can be cancelled.
  • Grace period
    There is a provision of grace period for 15 days for the monthly premium payers as late premium and 30 days for other premium payment options as late premium.
  • Revival of policy
    If the premium is not paid within the grace period then the policy get lapsed in this case the policy can be revived within the period of 2 years from the last premium paid.
  • Surrender of policy
    Policy can be surrendered or terminated after the completion of 2 or 3 years of the policy term. Only after 2 or 3 years the policy will be able to get a surrender value.
  • Loan benefit
    There is facility of loan available according to this policy plan as per the terms and condition of the corporation.
SBI Life – Smart Swadhan Plus

SBI Life smart swadhan plus is a non linked non participating term insurance plan. Which offers premium refund along with maturity of sum assured. It is a individual plan that is proposed to fulfil the needs of the family of the policy holder in case of any unexpected event such as death or accident. It comes with single premium as well as Limited premium paying option.

Features of SBI Life Smart swadhan Plus

  • It is a non participating traditional endowment plan that means, it is free from market risk.
  • It is a single premium as well as Limited premium paying policy
  • In case of policyholder survives throughout the policy term. Then there is a provision of maturity benefit.
  • In case of policy holder made to death within the policy term. Then there is a provision of death benefit.
  • There is discount on premium available on higher sum assured plans.
  • The claim is provided as a lump sum or through the monthly installments.

SBI Life – Smart Swadhan Plus

Benefits provided under SBI Life smart swadhan Plus

  • Death benefit
    If the policy holder meet to death within the policy term. Then the nominee of the policy holder will get the death benefit.
  • Maturity benefit
    If the policyholder survives throughout the policy term. Then the policyholder will get the maturity sum amount.
  • Discount on premium
    There is discount on premium allotted for the higher sum assured to the premium.
  • Tax benefit
    According to Income Tax Act section 80c. The premium paid under this plan is tax free also according to Section 10 D. The claim received is tax free that means it is going to save your tax on the amount paid as premium.

Eligibility condition for the SBI Life smart swadhan Plus

Minimum age to buy the policy 18 years (age as on last birthday)
Maximum age to buy the policy 65 years
Maximum age at vesting (maturity) 75 years

 

Type of plan Non-linked, non-participating, traditional term assurance plan offering guaranteed benefits in terms of protection and premium refund
Minimum sum assured Rs 500,000 (in multiples of Rs 1000)
Maximum sum assured No limit
Minimum term for policy 10 years
Maximum term for policy 30 years
Term for Premium Payment Single pay, 5 years, 10 years, 15 years, or equal to policy term
Frequency of premium Monthly, Quarterly, Half-yearly, Annually; Single
Loading frequency of premium Monthly: 8.90% of annual premium Quarterly: 26.50% of annual premium Semi-annually: 52% of annual premium

Policy Term Available Premium Payment Option
10 – 30 years Single premium
10 – 30 years Regular premium
10 – 30 years LPPT 5
15 – 30 years LPPT 10
20 – 30 years LPPT 15

 

Premium Frequency Minimum Amount Maximum Amount
Single Rs 21,000 No limit
Monthly Rs 250
Quarterly Rs 650
Semi-annually Rs 1,200
Annually Rs 2,300

 

Documents required for SBI life swadhan plus.

  • Offline/Online filled application form.
  • Age proof of policy buyer.
  • Address proof.
  • PAN card and Aadhar card for KYC document
  • Accurate medical history
  • Medical examination report if required.

Terms related to SBI Life Smart swadhan plus

  • Riders
    SBI Life smart swadhan plan does not provide any additional benefit riders.
  • Free look period
    If the policy buyer is not satisfied with the policy and it’s terms and condition or anything else . Then within 15 days after receiving the policy documents the policy can be cancelled.
  • Grace period
    There is a provision of grace period for 15 days for the monthly premium payers as late premium and 30 days for other premium payment options as late premium.
  • Revival of policy
    If the premium is not paid within the grace period then the policy get lapsed in this case the policy can be revived within the period of 2 years from the last premium paid.
  • Surrender of policy
    Policy can be surrendered or terminated after the completion of 2 or 3years of the policy term. Only after 2 or 3 years the policy will be able to get a surrender value.
  • Loan benefit
    There is facility of loan available according to this policy plan as per the terms and condition of the corporation.
SBI Life Saral Swadhan Plus

SBI Life Saral swadhan Plus is a non – linked, non – participating term insurance plan which provides life coverage as well as guaranteed return of premium to the policy holder after the maturity to meet the financial needs of the family and itself. It is a fixed premium paying term insurance plan.

Features of SBI Life Saral Swadhan Plus

  • It is a non participating non linked traditional endowment plan that means it is not going to effect by the ups and downs of market
  • It is a limited premium paying policy plan that means the policyholder will not have to pay the premium to the whole policy term
  • The policy can be taken online therefore it is easier to purchase the policy
  • In case of policyholder survives throughout the policy term. Then there is a provision of maturity benefit.
  • In case of policy holder made to death within the policy term. Then there is a provision of death benefit.
  • There is discount on premium available on higher sum assured plans.
  • The claim is provided as a lump sum or through the installment as per the requirement of the policy holder

SBI Life Saral Swadhan Plus

Benefits provided under SBI Life Saral swadhan Plus

  • Death benefit
    If the policy holder meet to death within the policy term. Then the nominee of the policy holder will get the death benefit. The death benefit provided is sum assured on death + simple reversionary bonus plus additional bonus if any.
  • Maturity benefit
    If the policyholder survives throughout the policy term. Then the policyholder will get the maturity sum amount. The maturity sum amount is 100% or 115% of the premium paid the percentage is depended upon the choice of term 10 years or 15 years.
  • Tax benefit
    According to Income Tax Act section 80c. The premium paid under this plan is tax free also according to Section 10 D. The claim received is tax free that means it is going to save your tax on the amount paid as premium.

Eligibility condition for the SBI Life Saral Swadhan Plus

  • The minimum entry age for this plan is 18 years and the maximum age for entry of this plan is 55 years
  • The maturity age for this plan is 70 years.
  • The policy can be taken for the term of 10 years or 15 years as per the convenience of policyholder
  • 4.The premium paying term is 10 years for any policy terms.
  • 5. The premium can be paid only annually.
  • 6. Minimum yearly premium can be 1,500 and the maximum yearly premium can be 5,000.
  • 7. Minimum sum that can be assured is rupees 30,000 and the maximum sum that can be assured is 4,75,000/-

Documents required for SBI life Saral swadhan Plus

  • Offline/Online filled application form.
  • Age proof of policy buyer.
  • Address proof.
  • PAN card and Aadhar card for KYC document
  • Accurate medical history
  • Medical examination report if required.

Terms related to SBI Life Saral Swadhan Plus

  • Free look period
    If the policy buyer is not satisfied with the policy and it’s terms and condition or anything else . Then within 15 days after receiving the policy documents the policy can be cancelled.
  • Grace period
    There is a provision of grace period of 30 days to pay the premium within this 30 days is the premium will not be paid then the policy will be lapsed.
  • Revival of policy
    If the premium is not paid within the grace period then the policy get lapsed in this case the policy can be revived within the period of 2 years from the last premium paid.
  • Surrender of policy
    The policy gets a surrender value after completion of certain year of policy paying term after that the policy gets eligible for surrender or termination.
Kotak Income Protection Plan

Income Protection Plan Summary:

Life doesn’t comprises of only good times as it also comprises of bad times. So it is better to plan for those bad times when the going is good. Ensure a better future for your family even in your absence with Kotak income protection plan .This plan will provide you a monthly income with the increase of 6% compounding interest per year for the remaining term of the policy in the unfortunate event of death. It provide a lump sum amount to your family so that they can take care of their immediate requirement.

Kotak Income Protection Plan
Feature of Kotak Income Protection Plan 

  • The monthly income chosen by you increase by 6% per year
  • It provide a minimum guaranteed payout of 5 years
  • It provide an assured benefit in the form of a lump sum at the time of demise
  • The premium can be paid monthly, quarterly ,half yearly ,yearly
  • The minimum premium will be determined on the basis of monthly income chosen gender
  • age smoking status policy term and the premium payment option choice.
  • The maximum premium has no limit but subject to underwriting consideration
  • This plan also provide two raiders

Eligibility For Kotak Income Protection Plan

  • The minimum age in which one can take this policy is 18 years
  • The maximum age in which one can take this policy is 60 years
  • The maximum maturity age is 70 years
  • The minimum monthly income of the policyholder should be 20000 rupees and the
    maximum monthly income has no limits.

Benefits of Kotak Income Protection Plan

  • If the policyholder meet to death. Then the family of the policyholder will get the death
    benefit as sum assured on death plus the monthly income at the increasing 6% per year
  • According to Income Tax Act section 80c. The premium paid under this plan is tax free
    also according to Section 10 D. The claim received is tax free that means it is going to save
    your tax on the amount paid as premium.
  • This plan come with two raider they are
  1. Kotak accidental disability Guardian benefit.
  2. reduced paid up benefit.

Document Required For Kotak Income Protection Plan

  • Offline/Online filled application form.
  • Age proof of policy buyer.
  • Address proof.
  • PAN card and Aadhar card for KYC document
  • Accurate medical history
  • Medical examination report if required.

Terms: 
1. Free look period
After taking the policy if you are not satisfied with the coverage of the policy over with the
terms and condition of the policy then you have an option of cancelling the policy within 15
days after receiving the policy document.

2. Grace Period
The grace period of the policy is 15 days for the monthly payment mode and 30 days for the
other payment modes like quarterly,half yearly,or yearly it is 30 days

Example: 

Mr. Ajay is 35 years old men. He works in a multinational company and earn rupees 50000 per month .He is very hard working. Mr Ajay was capable of fulfilling all his family requirement but he thinks that will happen to his family when he will not be there.So he take the policy of kotak income protection plan for a monthly income of 50000 for a term of 20 years. Therefore his annual premium will be RS 19301. so that after his demise his family be continued to get the monthly income at increasing rate of 6% per year.

Kotak assured saving plan

Kotak assured saving plan is a life insurance plan which provide you a life insurance cover and support you to meet your future needs. It also helps you in achieving future financial goals by giving guaranteed benefits.

FEATURES OF KOTAK ASSURED SAVING PLAN

  • It is a non participating plan , non linked plan. so therefore it is free from market risk
  • It give you assured guaranteed yearly addition.
  • Premium can be paid yearly ,half yearly, quarterly or monthly.
  • In case of policyholder survives throughout the policy term. Then there is a provision of maturity benefit.
  • In case of policy holder made to death within the policy term. Then there is a provision of death benefit.
  • The kotak assured saving plan has a wide range of raiders

Kotak assured saving plan

RAIDERS OF KOTAK ASSURED SAVING PLAN

There are three raiders under this plan

  1. Kotak term benefit.
  2. Kotak Life guardian benefit.
  3. Kotak accidental disability Guardian benefit.

BENEFITS PROVIDED UNDER KOTAK ASSURED SAVING PLAN

1.Death benefit
If the policy holder meet to death within the policy term. Then the nominee of the policy holder will get the death benefit as sum assured on death plus the bonus provided by the company.

2.Maturity benefit or survival benefit
If the policyholder survives throughout the policy term. Then the policyholder will get the maturity sum amount. The maturity sum amount provided for various terms are following:-

3.Tax benefit
According to Income Tax Act section 80c. The premium paid under this plan is tax free also according to Section 10 D. The claim received is tax free that means it is going to save your tax on the amount paid as premium.

4. Loan benefit
There is facility of loan in this policy that is 50% of the surrender value.

ELIGIBILITY CRITERIA FOR KOTAK ASSURED SAVING PLAN

  • The minimum age in which one can take this policy is 3 years
  • The maximum age in which one can take this plan is 60 years
  • The minimum maturity age is 18 years
  • The maximum maturity age is 75 years
  • The minimum annual premium is 20000 and there is no upper limit for the maximum premium amount.

DOCUMENT REQUIRED FOR THE KOTAK ASSURE SAVING PLAN.

  • Offline/Online filled application form.
  • Age proof of policy buyer.
  • Address proof.
  • PAN card and Aadhar card for KYC document
  • Accurate medical history
  • Medical examination report if required.

TERMS RELATED TO KOTAK ASSURED SAVING PLAN

1. GRACE PERIOD
The grace period of the policy is 15 days for the monthly payment mode and 30 days for the other payment modes like quarterly,half yearly,or yearly it is 30 days

REVIVAL OF POLICY
If the premium would not be paid within Grace period then the policy get lapsed but within 2 years after the last policy paid it can be revived.

2.SURRENDER OF THE POLICY
Policyholder can surrender the policy in 2 or 3 years .The surrender value will be higher of the guaranteed surrender value

3.Free look period
After taking the policy if you are not satisfied with the coverage of the policy over with the terms and condition of the policy then you have an option of cancelling the policy within 15 days after receiving the policy document

ICICI Pru immediate annuity

ICICI pru immediate annuity is one kind of pension plan that provides immediate annuity just after the payment of the premium. It can be taken by any individual or group. There are various options available in this and annuity plan. This plan is best for saving purpose which provides return also.ICICI Pru immediate annuity

Features of ICICI Pru immediate annuity plan

  • This plan is non linked individual or plan that provides annuity benefits.
  • It is a single premium paying plan and the annuity start after premium paying.
  • The benefits provided in this plan is according to the option which have been taken by the policyholder
  • This plan does not cover any life coverage therefore there is no requirement for medical or do not required any testICICI Pru immediate annuity

There were various annuity option available are following

  • Life annuity
  • Joint life last survivor
  • Life annuity with return of premium
  • Life annuity guaranteed for 5 years, 10 years or15 years and then it is payable for life.
  • Joint life last survivor with return of purchase price

Details of the option to choose annuity are following

1. Life annuity
According to this option the policyholder will get the annuity as long he or she well alive after that nothing is payable

2. Joint life last survivor with return of purchase price
According to this option the policyholder will get annuity after his death his wife will get the annuity. In case of both the partner die. The remaining amount will be provided to the nominee.

3. Life annuity for 5 years 10 years or 15 years and thereafter
According to this option the annuity will be provided to the policyholder till 5 years, 10 years or 15 years as per his choice and then till he survives.

4. Life annuity with return of purchase price.
In this option the policyholder will get the annuity amount throughout there life. After the death of the policyholder the nominee will get the purchasing amount of the policy.

5. Joint life last survivor without return of purchase price
According to this option, if the policyholder meet to death. Then his wife will also get the annuity amount after the death of the wife nothing will be payable to anyone.

Benefits provided under ICICI Prudential immediate annuity

Annuity
Annuity is provided as per the frequency chosen by the policyholder that will be immediately after the payment of the premium.

Remaining fund pay out
In some option there is option for the remaining fund payout to the nominee. If the fund remains after the death of both the partners.

Tax benefit
According to Income Tax Act section 80c. The premium paid under this plan is tax free also according to Section 10 D. The claim received is tax free that means it is going to save your tax on the amount paid as premium.

Eligibility details for the ICICI Prudential immediate annuity

  • Minimum age for the entry of this plan is 45 years and the maximum age for the entry of this plan is 100 years
  • The minimum purchase price for the policy is 1 lakh and there is no limit for the maximum purchase price
  • Minimum annuity payout is 1000 rupees and there is no maximum limit for the annuity payout
  • Annuity payout frequency can be monthly, quarterly, half yearly or yearly.

Documents required for ICICI Prudential immediate annuity plan

  • Offline/Online filled application form
  • Age proof of policy buyer.
  • Address proof.
  • PAN card and Aadhar card for KYC document
  • Accurate medical history ( not required in this plan)
  • Medical examination report if required.( not required in this plan)

Terms related to ICICI Prudential immediate annuity plan

Free look period

  • If the policy buyer is not satisfied with the policy and it’s terms and condition or anything else . Then within 15 days after receiving the policy documents the policy can be cancelled.

Grace period

  • It is a single premium policy hence there is no requirement for Grace period in this plan.

Surrender benefit

  • This premium policy doesn’t provide any surrender benefit

Loan

  • There is no provision of loan in this policy plan

TATA AIA Life Insurance “iRaksha Supreme” is a non-linked and non-participating, term insurance plan. Its an affordable and attractive online pure term plan which can be bought online. This is TATA AIA‘s first online plan. The policy term ranges between 10 to 40 years. Anyone between age 18-70 years can buy this plan online, while the maximum maturity age is 80 years.

Tata AIA iRaksha Supreme online term

Features at glance:

  • Buy at your convenient time and place using internet.
  • Premium starts from Rs.12/day *
  • Preferential Premium Rates for non-smokers
  • Lower premiums for females.
  • Tax benefits u/s 80C & 10(10D) of the Income-Tax Act, 1961

*Rs.12/day For a healthy non-smoker male aged 30 years for term of 25 years, Sum Assured of 50 Lacs and Regular Pay option.

Death Benefit: Nominee will get the sum assured, if policyholder expires within policy term.

Maturity benefit: Since this is pure term plan, policyholder wont get anything on survival.

Premium Options:

  1. Regular: pay regular premium for entire policy term
  2. Limited: pay premium for 5 or 10 years.
  3. Single : pay single premium.

Sample premiums for 30 year old Sum Assured of Rs.1 Crore:

Gender Smoker/non-smoker Term (yrs) Regular pay Limited pay 5 Limited pay 10 Single Premium
Female Non-smoker 25 Rs.6300/- Rs.10,200/- Rs.18,900/- Rs.85,900/-
Female Smoker 25 Rs.9300/- Rs.15,900//- Rs.31,800/- Rs.1,29,000/-
Male Non-smoker 25 Rs.7000/- Rs.11,900/- Rs.21,900/- Rs.1,00,300/-
Male Smoker 25 Rs.10,900/- Rs.18,800/- Rs.37,600/- Rs.1,53,700/-

Eligibility conditions and restrictions for iRaksha Supreme:

  • Entry Age: 18-70 years
  • Maturity Age: 28-80 years
  • Sum Assured: 50 lacs to No limit
  • Policy term: 10-40 yrs (for limited pay 10 yrs plan 15-40 yrs)

If you are non-smoker TATA AIA’s iRaksha Supreme is best online term insurance as you can easily save on your premium.

Reliance Super Endowment Plan offers guaranteed life cover and maturity benefits. Its a non linked non participating endowment plan. Get full benefits throughout the policy term while paying premium just for half the term.

Features at glance:

  • Pay premium for just half of policy term
  • Receive basic sum assured on maturity or death.
  • Policy term 14 years or 20 years
  • Option to add Riders
  • Loan facility is available

Death benefit:
If the policy holder dies during policy term and policy is in force, nominee will get basic sum assured.

Maturity Benefit: If life assured survives till maturity and policy is in force, policy holder will get
basic sum assured.

Tax Benefits
Tax benefit is available u/s 80C

Available Riders:

  • Term Life Insurance Benefit Rider
  • New Major Surgical Benefit Rider
  • New Critical Conditions Benefit
  • Family Income Benefit
  • Accidental Death and Total and Permanent Disablement Rider

Eligibility conditions of Super Endowment Plan

  • Age at Entry: 08-60 Years
  • Age at Maturity: 22-75 years
  • Policy Term: 14 years or 20 years
  • Premium Paying Term: 7 years or 10 years
  • Minimum Sum Assured: Rs.1,00,000
  • Max sum assured: No limit

What happens if you stop paying premium?
Your policy will lapse, if you do not pay premium within grace period. A lapsed policy can be revived within
2 years from last unpaid premium date.

Paid up policy: 14 years term: If you paid 2 years premium and then stop paying your premium, your policy
will be converted in paid-up policy. If you opted for 20 years term then you need to pay min. 3 years
premium before it can be converted in paid up policy.

ICICI Prudential Life Insurance launches Unit Linked pension Plan. ICICI Pru Shubh Retirement helps you build corpus through investing in equity.

Features at glance:

  • Helps you build your retirement corpus.
  • Assured benefit to protect your savings from market downturns.
  • Limited time premium (5  years or 10 years)
  • Regular income after retirement
  • Option to choose from 5 annuity options on retirement
  • Avail tax benefits on premiums
  • Get tax free 1/3rd of the fund value on retirement, as per the prevailing Income Tax laws

Maturity Benefit:
On maturity/vesting, Policy holder will get assured benefit or fund value, whichever is higher. Since this is pension plan, policy holder will have the option to receive 1/3rd of the fund and rest of the fund will be utilized for annuity.

Death benefit:
In case, policy holder dies while policy is in force, nominee will receive Guaranteed Death Benefit or the Fund Value, whichever is higher.  Guaranteed Death Benefit will depend on your premium mode, investment option and term.

Loyalty Additions:
From 10th policy year, policy will be eligible for loyalty addition. LA will be added every year post 10th policy anniversary.

Option to choose from 3 funds:

  • Aggressive :Higher equity participation with lower Assured Benefit
  • Moderate :Moderate equity participation with moderate Assured Benefit
  • Conservative : Lower equity participation with higher Assured Benefit

Eligibility conditions and restrictions

  • Min premium: Rs.24,000
  • Max premium: No limit
  • premium mode: Yearly, Half yearly, Monthly
  • Min entry age: 35
  • Max entry age: 70
  • Min. Vesting age: 45
  • Max. vesting age: 80

Policy Term and premium Paying Term:

  • PPT 05 years: Policy term 10, 15, 20, 25, 30
  • PPT 10 years: Term 20, 25, 30

 

« Previous PageNext Page »