ICICI Prudential Easy Retirement Plan, Policy, Premium and Maturity Calculator
ICICI Prudential Easy Retirement Plan, Policy, Premium and Maturity Calculator - ICICI Pru Easy Retirement plan is a unit linked pension plan that provides regular annuity payouts along with protection. The regular annuity payouts serve as income after retirement.
Eligibility - ICICI Prudential Easy Retirement Insurance Plan and Policy
Listed below is the eligibility conditions for ICICI Pru Easy Retirement Plan
| Minimum age at entry | 35 years |
| Maximum age at entry | 70 years |
| Minimum policy term | 10 years |
| Maximum policy term | 30 years |
| Premium payment term | 5, 10 years or same as the policy term |
| Minimum age at vesting | 45 years |
| Maximum age at vesting | 80 years |
| Minimum premium | Rs. 48,000 |
| Maximum premium | No cap on the maximum premium |
Key Features - ICICI Prudential Easy Retirement Insurance Plan and Policy
Listed below are the key features of ICICI Pru Easy Retirement Plan
| Type | Non linked pension plan |
| Basis | Individual |
| Policy terms | 10 to 30 years |
| Premium payment terms | 5, 10 years or same as the policy term |
| Premium payment mode | Annually, semi annually, and monthly |
| Death benefit | In case of unfortunate death of the insured during the policy term, the nominee will receive higher of guaranteed death benefit and fund value. |
| Assured benefit | At maturity, the insured will be entitled to assured benefit or fund value depending on whichever is higher |
| Pension booster | Once the policy completes 10th year and on completion of 5 years after that, there will be a guaranteed pension booster provided given that five years’ premiums have been paid. |
| Surrender benefit | During the first five policy years, on approval of the request to surrender the policy, the fund value after the deduction of discontinuance charge will be paid as surrender benefit. |
| Partial withdrawals | The policy does not allow partial withdrawals |
| Free look period | 15 days |
| Grace period | One month (30 days) |
| Surrender | The policy can be surrendered any time during the term of the policy provided that the premiums for the first year has been paid completely. |
| Policy cover | Death benefit and maturity benefit along with guaranteed additions, vested reversionary bonus and terminal bonus |
| Top up facility | Top up facility is available under the policy. Sum assured will increase when the insured opts for top ups. |
| Policy revival | The policy can be revived within the two years from the date of the first unpaid premium in case of lapse of the policy |
Benefits - ICICI Prudential Easy Retirement Insurance Plan and Policy
Listed below are the benefits of ICICI Pru Easy Retirement Plan
- Death benefit- On unfortunate death of insured, death benefit will be paid in the form of guaranteed death benefit or fund value depending on whichever is higher.
- Assured benefit- The higher of assured benefit, fund value will be paid as assured benefit on maturity
- Premium redirection-The insured will be given the chance to decide the proportions of premium being invested in the funds
- Switching- The insured has the option of switching between funds whenever they choose
- Tax benefits- This ICICI Prudential Life policy qualifies for tax benefits under section 80C of the Indian Income Tax Act, 1961
- Helps build a retirement fund
- The policy can be purchased online
- Hassle free application process
Riders - ICICI Prudential Easy Retirement Insurance Plan and Policy
There are no riders available under the policy
GST of 18% is applicable on life insurance effective from the 1st of July, 2017.
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