ICICI Prudential Cash Advantage Saving Plan, Policy, Premium and Maturity Calculator
ICICI Prudential Cash Advantage Saving Plan, Policy, Premium and Maturity Calculator - ICICI Pru Cash Advantage scheme offers policyholders the opportunity to meet financial requirements such as medical expenses of dependent parents, education needs of children and so on. This comprehensive scheme aids the insured in building his/her savings corpus. There are unique benefits offered under this savings and protection based plan.
Benefits - ICICI Prudential Cash Advantage Saving Plan and Policy
- The insured gets a guaranteed amount at the time of maturity of the policy.
- The insured will receive a guaranteed amount as payout for 10 years after the premium payment term.
- Life cover is offered to the insured during the tenure of the policy.
- The insured can choose the premium payment term from a choice of 5, 7 or 10 years.
Key Features - ICICI Prudential Cash Advantage Saving Plan and Policy
| Death Benefit | The death benefit offered under this policy is the Sum Assured + Reversionary Bonus + Interim Bonus + Terminal Bonus; Or Guaranteed Maturity Benefit (GMB) + Reversionary Bonus + Interim Bonus + Terminal Bonus; Or Minimum Death Benefit, whichever is the highest. |
| Cash Benefit | On a monthly basis the guaranteed cash benefit paid out to the insured after the premium payment term is 1% of the Guaranteed Maturity Benefit (GMB). On an annual basis the guaranteed cash benefit paid out to the insured after the premium payment term is 11.5% of the Guaranteed Maturity Benefit (GMB). |
| Maturity Benefit | The maturity benefit offered under this policy is the Guaranteed Maturity Benefit (GMB) + Reversionary Bonus + Terminal Bonus (if any); Or 100.1% of the premiums paid so far less the Guaranteed Cash Benefit (GCB) received, whichever is the highest. |
| Policy Term | The policy term consists of the premium payment term + the payout term. For 5 year premium payment term – 15 years For 7 year premium payment term – 17 years For 10 years premium payment term – 20 years |
| Mode of Premium Payment | Premium can be paid on a monthly, half-yearly or annual basis. |
| Mode of Cash Benefit | Cash Benefit will be paid out either on a monthly basis or an annual basis. |
Eligibility Criteria - ICICI Prudential Cash Advantage Saving Plan and Policy
| Maximum age at entry | 60 years |
| Minimum age at entry | For 5 year premium payment term – 3 years For 7 year premium payment term – 1 year For 10 years premium payment term – 0 years |
| Minimum age at maturity | 18 years |
| Maximum age at maturity | 80 years |
| Payout term | 10 years |
| Minimum annual premium | For 5 year premium payment term – Rs. 30,000 For 7 year premium payment term – Rs. 18,000 For 10 years premium payment term – Rs. 12,000 |
How the ICICI Pru Cash Advantage Plan Works
The life assured must choose the premium amount, premium payment option and mode, sum assured and the mode for receipt of cash benefit, at the time of policy inception. Once these details are finalized, the Guaranteed Maturity Benefit (GMB) and the Guaranteed Cash Benefit (GCB) will be calculated. Age and gender are other factors that will affect the determination of these benefits. In this ICICI Prudential Life plan Guaranteed Cash Benefit will be paid out after the premium payment term is over.
GST of 18% is applicable on life insurance effective from the 1st of July, 2017
Future Generali India Term Protection Life Insurance Plans and Policy |
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| ICICI Prudential Saving Plans |
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| ICICI Prudential Cash Advantage |
| ICICI Prudential Saving Suraksha |
| ICICI Prudential Assured |
| ICICI Prudential Future Perfect |
| ICICI Prudential Retirement Plans |
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| ICICI Prudential Easy Retirement |
| ICICI Prudential Immediate Annuity Retirement |
| ICICI Prudential Group Insurance Plans |
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| ICICI Prudential Rural Insurance Plans |
| ICICI Prudential SarvJana Suraksha Rural |
| ICICI Prudential Anmol Bachat Rural |