RURAL POLICIES FROM ICICI BANK

https://www.iciciprulife.com/public/Rural-plans/ICICI_Pru_Sarv_Jana_Sraksha.htm

Preamble on ICICI Pru Rural Business Initiative

ICICI Prudential’s rural business initiative has played a very important role in reaching the underserved segment through its rural insurance plans. ICICI Prudential has covered more than 2.5 million lives across as many as 16 states in India.

Both our rural plans Sarva Jana Suraksha and Anmol Nivesh are tailored to meet the unique requirements of rural investors. The plans offer Life cover, low and affordable premiums and hassle free procedure.

ICICI Pru Sarv Jana Suraksha

Presenting Sarv Jana Suraksha from ICICI Prudential Life Insurance

Happiness and security for our family is what all of us want. However, the uncertainties of life often worry us. The thought of unfortunate events befalling us may cause anxiety about our ability to provide for our loved ones. This is especially the case if we are no longer there to provide for them. Insurance can help ease worries. It ensures that your loved ones are adequately provided for and that their lives are not affected, even if you are not around.

ICICI Prudential Life Insurance presents its first Micro Insurance Plan - Sarv Jana Suraksha – especially designed for rural population which provides total security to you and your family, at very affordable cost.

Death Benefit Sum Assured on death

Maturity Benefit No benefit on Maturity

Min / Max entry age 18 years / 55 years

Min / Max Sum Assured Rs. 5,000 / Rs. 50,000

Policy Term 5 years

Premium Payment frequency Annual

Premium payment Regular

Cover ceasing age 60 years

Sum Assured (Rs.) Premium (Rs.)*

5,000 50

10,000 100

20,000 200

30,000 300

40,000 400

50,000 500

* The above premium is inclusive of Service tax and education cessUIN No.105N081V01

ICICI Pru Anmol Nivesh

India is a vast and diverse country, her people equally diverse with a variety of lifestyles and occupations. But even today, most Indians still live in rural areas with little or no support when it comes to financial security. They have limited access to any long-term saving tools or financial security which they could use in times of need.

As a trusted partner in your quest for security, ICICI Prudential Life Insurance presents ICICI Pru Anmol Nivesh – a regular premium unit-linked endowment policy guaranteeing the premiums paid less the partial withdrawals made on maturity and death. This plan is aimed at providing security cum savings to you and your family, at an affordable cost.

Product at a glance

Minimum Premium Rs. 1,200 p.a.

Maximum Premium Rs. 6,000 p.a.

Minimum Policy Term 7 years

Maximum Policy Term 15 years

Minimum Age at Entry 18 years nearest birthday

Maximum Age at Entry 50 years nearest birthday

Maximum Cover Ceasing Age 65 years nearest birthday

Minimum Sum Assured Rs 6000

Maximum Sum Assured Rs 30,000

Key benefits of ICICI Pru Anmol Nivesh

Premiums paid less partial withdrawals made over the term of the policy are guaranteed on death and maturity if the cover continuance option is not chosen

Option to withdraw your money from fourth policy year onwards In the unfortunate event of death, the nominee receives the highest of sum assured, fund

value and sum of premiums paid less the partial withdrawals made till date Additional allocation of units at regular intervals to boost your investment Cover Continuance option available which ensures continuance of life insurance cover,

even if you wish to stop paying premiums. However, the premium guarantee ceases on choosing the cover continuation option.

Protection of capital through investments in short-term debt and money market instruments

RETIREMENT PLANS FROM ICICI

ICICI Pru Immediate Annuity

A Quick Look

In your golden years worries about security and comfort become greater. Today, with rising prices increasing health care costs and higher life expectancy, you need concrete planning post-retirement to help you deal with it. What you need is a plan that not only helps you plan for retirement, but also continues to pay you an income throughout your retired life.

At ICICI Prudential Life Insurance Company Limited, we realize the importance of a prudent retirement planning. Presenting ICICI Pru Immediate Annuity - a plan that not only give you an income for life but also provide you options to match your needs.

ICICI Pru Immediate Annuity at a glance

Modes of Annuity Payment Yearly / Half yearly / Monthly / Quarterly

Minimum annuity payable Rs.12,000 p.a

Minimum / Maximum age at entry 45 / 100 years

Minimum / age at entry (spouse) 20 years

Minimum / Maximum Policy Term Not applicable

How does ICICI Pru Immediate Annuity work ?

Choose a one time lump sum amount that you will pay in order to purchase this plan Opt for anyone amongst the 5 payout options as mentioned below Choose from 4 annuity payout modes–monthly, quarterly, half yearly or yearly.

How does the payout option work?

Through a lump sum Investment in this plan, you start getting a regular income in the form of annuity. The actual amount of annuity chosen will depend upon the annuity rate applicable at the time for purchasing the annuity. The rates are guaranteed for the life of the annuitant. The annuity can be received in monthly, quarterly, half yearly or yearly modes.

What are the payout options available ?

Life Annuity : Annuity for Life Life Annuity with Return of Purchase Price : Life Annuity for annuitant with return of

purchase price on death to the beneficiary. Joint Life, Last Survivor without Return of Purchase Price : The annuity is first paid

to the annuitant. After the death of the annuitant, the spouse receives a pension, which is an amount equal to the annuity paid to the annuitant.

Joint Life, Last Survivor with Return of Purchase Price : The annuity is first paid to the annuitant. After the death of the annuitant, the spouse receives a pension which is an amount that is equal to the annuity paid to the annuitant. After the death of the last survivor, the purchase price is returned to the nominee.

Life Annuity guaranteed for 5/10/15 years and thereafter : Guaranteed annuity is paid for the chosen term (5/10/15) and after that, the annuity continues as long as the annuitant is alive.

Unit linked Retirement plans

ICICI Pru Shubh Retirement

Anand, a 40 year old manager in a pharma company, is in the prime of his life and at the peak of his career. He enjoys all the comforts life has to offer – a happy family, his own home and car, frequent dining out, holidays in India and abroad. Anand wonders whether he will continue to enjoy these comforts for the rest of his life.

To ensure that his golden years are the best years of his life, Anand knows he needs to build an adequate corpus to provide him with regular income after retirement. He wants to invest in the equity market to get superior returns, but the fear of losing his savings in volatile markets makes him nervous.

Retirement planning through equity participation with safety net

All of us share Anand’s concerns and want a solution which will ensure equity linked growth while providing a safety net of capital protection. ICICI Pru Shubh Retirement provides this solution - the benefit of equity participation with the comfort of capital guarantee.

In this plan, a combination of equity and debt will help you build an adequate retirement corpus and protect your savings from market downturns. So, plan for your retirement now to truly enjoy those golden years without any worries.

ICICI Pru Shubh Retirement at a glance

Min/Max premium Rs. 24,000 / UnlimitedModes of premium payment

Yearly/Half yearly/Monthly

Min/Max age at entry 35/70 yearsMin/Max age at 45/80 years

vesting

Premium payment term (PPT) and policy term

Premium payment option

Premium payment term

Policy Term

Five Pay 5 10, 15, 20, 25, 30Ten Pay 10 20, 25, 30

Tax benefitsPremium and any benefit amount received will be eligible for tax benefit as per the prevailing Income Tax laws.

 

How can I benefit from this plan?

• Build your retirement corpus through equity participation

• Protect your savings from market downturns through the Assured Benefit

• Pay premiums for a limited period and get regular income post retirement

• At retirement, choose from five annuity options as per your need

• Avail tax benefits on premiums paid and receive up to one-third of the accumulated value on retirement date as a tax-free lump sum, as per the prevailing Income Tax laws

How does the plan work?

ICICI Pru Shubh Retirement has two phases:

o Accumulation Phase: In this phase, you pay premiums towards the policy to accumulate funds for your retirement while enjoying the safety net of the Assured Benefit.

o Income Phase: 

Benefits available at vesting: 

You can choose to exercise one of the following options at the time of vesting.

1. Regular income: Receive regular income from your accumulated amount, as per your chosen annuity option.

2. Commutation: Receive a lump sum of up to 1/3rd of the accumulated amount, tax-free. The remaining amount must be used to purchase an annuity.

3. Postponement of vesting: Change the date on which you want to start receiving regular income, i.e. your vesting date. You can choose to postpone your vesting date any number of times subject to the maximum vesting age.

4. Invest in single premium deferred pension product: Use the accumulated amount to purchase a single premium deferred pension product

Benefits in detail

• Assured Benefit: 

On vesting, i.e. maturity, you will be entitled to the Assured Benefit or Fund Value, whichever is higher. You can choose from three investment options depending on your risk appetite:

Investment option DetailsAggressive Higher equity participation with lower Assured BenefitModerate Moderate equity participation with moderate Assured Benefit

Conservative Lower equity participation with higher Assured Benefit

Each option will provide you an Assured Benefit as expressed below:

Assured Benefit = Assured Benefit Factor X Sum of all premiums payable 

Assured Benefit Factor would depend on the investment option, premium payment option and the policy term chosen by you as shown in the table below.

How will your funds be invested? 

Your premiums will be invested in the following funds:

o Pension Growth Fund – an equity oriented fund

o Pension Secure Fund – a debt oriented fund

The allocation between these two funds will be determined by us based on your investment option, premium payment option and policy term. To protect your accumulated savings, it is expected that as your policy nears maturity, a greater proportion of your investment will be allocated to the Pension Secure Fund.

• Death benefit: 

In the unfortunate event of death of the Life Assured at any point in time during the term of the policy while the policy is in force, the nominee will receive the Guaranteed Death Benefit or the Fund Value, whichever is higher.

Guaranteed Death Benefit = Guaranteed Death Benefit Factor X Sum of all premiums payable paid 

Guaranteed Death Benefit Factor would depend on the investment option, premium payment option and the policy term chosen by you.

• Loyalty Additions: 

Your policy will be eligible for a loyalty addition at the end of every policy year starting from the end of the 10th policy year.

This addition will be a percentage of the average of daily Fund Values in that same policy year. Year 10 Year 11 onwards 2% 0.5% The loyalty addition is allocated between the Pension Growth Fund and the Pension Secure Fund in the same proportion as the value of total units held at that time.

How can I buy this plan?

We offer several options for you to buy as per your convenience. Choose from one of the following:

Meet an advisor   Visit your nearest branch  

Why LifeStage Pension

Retirement time is the time to live your dream, dream that you have been putting off as you never had the time for it. But your retirement dream has a cost attached to it. We call this your retirement number. To help you achieve your retirement number ICICI Prudential presents to you, LifeStage Pension. One of the most distinguishing features of this policy is that it has no premium allocation charge for regular premiums which means 100% of your money is invested. What’s more, the policy provides you with a unique lifecycle-based strategy that continuously re-distributes your money across various asset classes based on your life stage and risk tolerance, eventually providing you with a customised retirement solution. Invest today to attain your retirement number and fulfill your dreams. Read more about the features and benefits of this unique pension plan.

LifeStage Pension at glance

UIN 105L075V01  

Minimum/Maximum Entry Age

18 years to 70 years

Maximum Cover Ceasing Age

80 years

Minimum/Maximum Policy Term

10 years to 62 years

Minimum/Maximum Vesting Age

50 years to 80 years

Premium Payment Frequency

Monthly, half-yearly, yearly

Minimum Premium Rs. 15,000 p.a.Tax Benefit Under Section 80CCC, as per prevailing Income Tax

laws on premium paid for base policy. 

Key Benefits of LifeStage Pension

Option to choose a unique and personalised lifecycle based portfolio strategy to create ideal balance between Equity and Debt. 

This plan invests 100% of your money in the portfolio of your choice. Enjoy the flexibility to choose from 5 pension options through which you can receive your

pension. Opportunity to earn potentially higher returns by investing in Unit Linked Funds. Receive tax-free commutation up to one-third of the accumulated value on vesting (retirement)

date. Avail tax benefits on premiums paid u/s 80CCC.

If you would like to know more about this plan, please click here for our advisor to contact you!

Fund options available with ICICI Pru LifeStage Pension

1. Pension Flexi Growth

Objective : To generate superior long-term returns from a diversified portfolio of equity and equity related instruments of large, mid and small cap companies.

Indicative Portfolio Allocation Max (%) Min (%)Equity & Related Securities 100 20Debt, Money Market & Cash 80 0

2.Risk- Reward profile of the Fund: High

3. Pension Flexi Balanced

Objective : To achieve a balance between capital appreciation and stable returns by investing in a mix of equity and equity related instruments of large, mid and small cap companies and debt and debt related instruments.

Indicative Portfolio Allocation Max (%) Min (%)Equity & Related Securities 60 0Debt, Money Market & Cash 100 40

4.Risk- Reward profile of the Fund: Moderate

5. Pension Protector

Objective: To provide accumulation of income through investment in various fixed income securities. The fund seeks to provide capital appreciation while maintaining a suitable balance between return, safety and liquidity.

Indicative Portfolio Allocation Max (%) Min (%)Debt Instruments, Money Market & Cash 100 100

6.Risk- Reward profile of the Fund: Low

7. Pension Maximiser (This Fund shall not be available for investment to those Policyholder whose application is received by the company’s office after February 22, 2008)

Objective: To provide long-term capital appreciation through investments primarily in equity and equity-related instruments.

Indicative Portfolio Allocation Max (%) Min (%)Equity & Related Securities 100 75Debt, Money Market & Cash 25 0

8.Risk- Reward profile of the Fund: High to those policyholder whose application is received at the Company’s office after February 18, 2008)

9. Pension Balancer

Objective: To provide a balance between long-term capital appreciation and current income through investment in equity as well as fixed income instruments in appropriate proportions depending on market conditions prevalent from time to time.

Indicative Portfolio Allocation Max (%) Min (%)Equity & Related Securities 40 0Debt, Money Market & Cash 100 60

10.Risk- Reward profile of the Fund: Moderate

11. Pension Preserver

Objective: To provide suitable returns through low risk investments in debt and money market instruments while attempting to protect the capital deployed in the fund.

Indicative Portfolio Allocation Max (%) Min (%)Debt Instruments 50 0Money Market & Cash 100 50

12.Risk- Reward profile of the Fund: Capital Preservation

13. Pension Multiplier (This Fund shall be available for investment to those policyholders whose application is received at the Company’s office on or after February 23, 2008)

Objective: To provide long-term capital appreciation from an equity portfolio predominantly invested in NIFTY scrips.

Indicative Portfolio Allocation Max (%) Min (%)Equity & equity related securities 100 80Debt, Money market & Cash 20 0

14.Potential Risk-Reward profile of the Fund: High

15. Pension R.I.C.H. (This fund shall be available for investment to those policyholders whose application is received at the Company’s office on or after March 15, 2008)

Objective: To generate superior long-term returns from a diversified portfolio of equity an equity related instruments of companies operating in four important types of industries viz., Resources, Investment-related, Consumption-related and Human capital leveraged industries.

Indicative Portfolio Allocation Max (%) Min (%)Equity & equity related securities 100 80Debt, Money market & Cash 20 0

16.Potential Risk-Reward profile of the fund: High

17. Pension Return Guarantee Fund (PRGF)

Objective: The fund seeks to provide guaranteed returns through investment in a diversified portfolio of high quality fixed income instruments.

Portfolio Allocation Max (%) Min (%)Debt, Money market & Cash 100 100

18.Risk-Reward Profile of the Fund: Low

More about Return Guarantee Fund