life time premier from icici prudential life insurance

33
Life Time Premier from ICICI Prudential Life Insurance ICICI Prudential Life Time Premier is a unit linked insurance plan (ULIP) with Double Benefits, such that if the Life Insured dies within the policy tenure, the nominee would receive the Sum Assured as well as the Fund Value as Death Benefit. Key Features of ICICI Pru Life Time Premier Double benefit ULIP – sum assured on death and fund value on maturity to nominee Loyalty Units are added to the fund every five years, starting from the 10th policy year Option to increase or decrease the Sum Assured anytime during the Policy Term Choice of 8 Investment Funds and 2 Portfolio Strategies Option of Automatic Transfer Strategy using which one can systematically invest in the equity funds Benefits you get from ICICI Pru Life Time Premier Death Benefit – In case of death of the Life Insured, the nominee would get Sum Assured plus Fund Value subject to Minimum Death Benefit Maturity Benefit – On maturity, the Fund Value is paid to the policyholder according to the investment option chosen. Income Tax Benefit - Life Insurance premiums paid up to Rs. 1,00,000 are allowed as a deduction from the taxable income each year under section 80C Eligibility conditions and other restrictions in ICICI Pru Life Time Premier Minimum Maximum Sum Assured (in Rs.) For age <=45 years, SA = Higher of (10 × AP) and (0.5 × PT × AP) For age > 45 years, SA= Higher of (7 × AP) and (0.25 × PT × AP) According to maximum Sum Assured multiple. Policy Term (in years) 10 years 30 years Premium Payment Term (in years) 5 years Equal to Policy Term

Upload: guri-randhawa

Post on 13-Apr-2015

41 views

Category:

Documents


9 download

DESCRIPTION

various ulip plans provided by 10 top companies in india

TRANSCRIPT

Page 1: Life Time Premier From ICICI Prudential Life Insurance

Life Time Premier from ICICI Prudential Life Insurance 

ICICI Prudential Life Time Premier is a unit linked insurance plan (ULIP) with Double Benefits, such that if the Life

Insured dies within the policy tenure, the nominee would receive the Sum Assured as well as the Fund Value as

Death Benefit.

 

 

Key Features of ICICI Pru Life Time Premier 

Double benefit ULIP – sum assured on death and fund value on maturity to nominee

Loyalty Units are added to the fund every five years, starting from the 10th policy year

Option to increase or decrease the Sum Assured anytime during the Policy Term

Choice of 8 Investment Funds and 2 Portfolio Strategies

Option of Automatic Transfer Strategy using which one can systematically invest in the equity funds

 

 

Benefits you get from ICICI Pru Life Time Premier 

Death Benefit – In case of death of the Life Insured, the nominee would get Sum Assured plus Fund Value subject to

Minimum Death Benefit

 

Maturity Benefit – On maturity, the Fund Value is paid to the policyholder according to the investment option

chosen.

 

Income Tax Benefit - Life Insurance premiums paid up to Rs. 1,00,000 are allowed as a deduction from the taxable

income each year under section 80C

 

 

Eligibility conditions and other restrictions in ICICI Pru Life Time Premier 

Minimum Maximum

Sum Assured (in Rs.)

For age <=45 years, SA =

Higher of (10 × AP) and (0.5 ×

PT × AP)

For age > 45 years,

SA= Higher of (7 × AP) and

(0.25 × PT × AP)

According to maximum

Sum Assured multiple.

Policy Term (in years) 10 years 30 years

Premium Payment Term (in years) 5 years Equal to Policy Term

Entry Age of Policyholder 7 years 65 years

Age at Maturity 18 years 75 years

Regular Pay premium (in Rs.) Rs 18,000 p.a. No Limit

Page 2: Life Time Premier From ICICI Prudential Life Insurance

Limited Pay premium (in Rs.) Rs 50,000 p.a. No Limit

Payment modes Only Yearly

 

 

Sample illustration of premium amount in ICICI Pru Life Time Premier 

Premium = Rs.50,000

Age = 30 years

Policy Term = 10 years and 15 years

Premium Paying Term = Regular Pay

Sum Assured = Rs 5,00,000

Total Investment = Rs. 50,000 x 10 years = Rs. 5,00,000 and Rs 50,000 x 15 years = Rs 7,50,000

  

 

Additional Features and Benefits of ICICI Pru Life Time Premier 

Riders – There are no riders available in this policy

 

Investment Fund Options

There are 8 Investment Funds available

1.       Opportunities Fund

2.       Multi Cap Growth Fund

3.       Bluechip Fund

4.       Multi Cap Balanced Fund

5.       Income Fund

6.       Money Market Fund

7.       Return Guarantee Fund

8.       Dynamic P/E Fund

 

And 2 Portfolio Strategies available

1.       Fixed Portfolio Strategy

2.       Trigger Portfolio Strategy

Page 3: Life Time Premier From ICICI Prudential Life Insurance

 

Top-up - The minimum and maximum amount for Top-up is Rs 2,000 and sum assured automatically increases

either by 125% or 500% of the top up premium amount. Top Up can be done anytime except during the last 5 years of the

Policy Term and each Top-up Premium also has a Lock In Period of 5 years.

 

Switching - The minimum amount that you can switch is Rs 10,000. First 6 switches are free. Switching from a non-

guaranteed NAV Option to Guaranteed NAV Option is not allowed.

 

Partial Withdrawal - Partial withdrawals are allowed only after completion of 5 policy years. One Partial Withdrawal

is allowed in each policy year up to a maximum of 20% of the existing Fund Value. The partial withdrawals are free of

cost but the minimum is Rs 2,000

 

                                             

What happens if? 

You stop paying the premium before 5 years - If the policy holder stops paying the premium, the insurance cover

will cease and the fund value net of any discontinuance charge will be transferred to the Discontinued Policy Fund.

The Discontinued Policy Fund will be credited with a minimum interest rate of 3.5% p.a. and the proceeds from this

will be payable after the fifth policy anniversary. In case of death of the Life Assured during this period, only the

accumulated fund value will be payable to the nominee.

 

You stop paying the premium after 5 years - If the policy holder stops paying the premium after 5 years, then the

accumulated policy fund amount till the date of discontinuance shall be paid to the policy holder and the policy will

terminate immediately.

 

You want to surrender the policy – If the policy holder wants to surrender the policy before completing 5 years,

then the insurance cover will cease and the fund value net of any discontinuance charge will be transferred to the

Discontinued Policy Fund. The Discontinued Policy Fund will be credited with a minimum interest rate of 3.5% p.a.

and the proceeds from this will be payable after the fifth policy anniversary. In case of death of the Life Assured

during this period, only the accumulated fund value will be payable to the nominee.

 

If the policyholder surrenders the policy after completion of 5 policy years, then the insurance cover will cease and

your fund value shall be paid immediately and the policy would be terminated.

 

You want a loan against your policy - There is no loan available under this plan.

 

 

Alternate ULIPs from different insurance companies 

AEGON Religare iMaximize Plan

Aviva Sachin Extra Cover Advantage

Bajaj Allianz iGain 3

 

 

Other ULIPs from ICICI Prudential Life Insurance 

ICICI Prudential Elite Wealth

ICICI Prudential Pinnacle Super

Page 4: Life Time Premier From ICICI Prudential Life Insurance

ICICI Prudential Wealth Plus

ICICI Pru LifeStage Wealth II

ICICI Pru LifeLink Wealth SP

Key features

Flexible premium payment options

Loyalty additions paid every 5 years from 10th policy year

Flexibility to invest surplus money over and above your regular premiums

Tax benefits as per prevailing tax laws

LIC Endowment Plus Policy 

LIC Endowment Plus is a unit linked insurance plan (ULIP), where the

risk of investment is borne by the policyholder. If the Life Insured dies

within the policy tenure, the nominee would receive the Sum Assured or

the Fund Value, whichever is higher.

 

 

Key Features of LIC Endowment Plus 

         Unit linked insurance plan with choice of 4 investment funds

         Higher of Sum Assured or Fund Value will be paid as Death Benefit

         Choice of two riders is Accidental Death Benefit and Critical Illness Benefit cover

         Option to decrease the Sum Assured during the policy tenure

 

 

Benefits you get from LIC Endowment Plus 

Death Benefit - In case of death of the Life Insured, the nominee would get Sum Assured or Fund Value, whichever

is higher.

 

Maturity Benefit - On maturity, the policy fund value is paid to the policyholder.

 

Income Tax Benefit - Life Insurance premiums paid up to Rs. 1,00,000 are allowed as a deduction from the taxable

income each year under section 80C

 

 

Eligibility conditions and other restrictions in LIC Endowment Plus 

Minimum Maximum

Sum Assured (in Rs.)

Regular Premium

(Policy Term +1) x Annual

premium30 x Annualized premium

Page 5: Life Time Premier From ICICI Prudential Life Insurance

Sum Assured (in Rs.)

Single Premium1.25 x Single premium 5 x Single Premium

Policy Term (in years) 10 20

Premium Payment Term (in years) Single Equal to Policy Term

Entry Age of Policyholder (in years) 7 60

Age at Maturity (in years) 18 70

Single Premium (in Rs.) 30,000 No Limit

Payment modes Yearly, half-yearly, quarterly or monthly (ECS only)

 

 

Sample illustration of premium amount in LIC Endowment Plus 

Premium = Rs.20,000

Age = 20 years

Sum Assured = Rs.420000

Policy Term = 20 years

PPT = Regular Pay

Total Investment = Rs 20,000 x 20 years = Rs 4,00,000

   Additional Features and Benefits of LIC Endowment Plus 

Riders – There are 2 riders available in this policy

1.       Accidental Death Benefit rider

2.       Critical Illness Benefit rider

 

Investment Fund Options

There are 4 Investment Funds available

1.       Bond Fund

2.       Secured Fund

Page 6: Life Time Premier From ICICI Prudential Life Insurance

3.       Balanced Fund

4.       Growth Fund

 

Top-up

NA

 

Switching

You can switch between the four fund types for the entire Fund Value during the policy term subject to switching

charges, if any.

 

Partial Withdrawal

Partial withdrawals are allowed only after completion of 5 policy years or the life insured’s age is at least 18 years,

whichever is later. Partial withdrawal will be allowed subject to at least 2 year’s premiums should remain in the

Policyholder’s Fund Value in case of regular premium policies and 25% of the single premium paid in case of single

premium policies.

 

                                             

What happens if? 

You stop paying the premium before 5 years - If the policy holder stops paying the premium, the insurance cover

will cease and the fund value net of any discontinuance charge will be transferred to the Discontinued Policy Fund.

The Discontinued Policy Fund will be credited with a minimum interest rate of 3.5% p.a. and the proceeds from this

will be payable after the fifth policy anniversary. In case of death of the Life Assured during this period, only the

accumulated fund value will be payable to the nominee.

 

You stop paying the premium after 5 years - If the policy holder stops paying the premium after 5 years, then the

accumulated policy fund amount till the date of discontinuance shall be paid to the policy holder and the policy will

terminate immediately.

 

You want to surrender the policy – If the policy holder wants to surrender the policy before completing 5 years,

then the insurance cover will cease and the fund value net of any discontinuance charge will be transferred to the

Discontinued Policy Fund. The Discontinued Policy Fund will be credited with a minimum interest rate of 3.5% p.a.

and the proceeds from this will be payable after the fifth policy anniversary. In case of death of the Life Assured

during this period, only the accumulated fund value will be payable to the nominee.

 

If the policyholder surrenders the policy after completion of 5 policy years, then the insurance cover will cease and

your fund value shall be paid immediately and the policy would be terminated.

 

You want a loan against your policy - There is loan available under this plan under terms and conditions.

 

 

Alternate ULIPs from different insurance companies 

ICICI Pru Pinnacle Super

India   First Smart Save Plan

Aviva LifeSaver Advantage

 

 

Page 7: Life Time Premier From ICICI Prudential Life Insurance

Other ULIPs from Life Insurance Corporation of India 

LIC   Flexi Plus Plan

Key features

Offers investment cum insurance cover during the term of the policy

Option to invest in 4 fund options

Higher of Sum Assured and the Policyholder’s Fund Value shall be available as death benefit

Choice of 2 additional riders

Tata AIA Life Lakshya Supreme Plan

Tata AIA Life Lakshya Supreme is a simple unit linked insurance plan (ULIP), where if the Life Insured dies during

the policy tenure, the nominee would receive the Sum Assured or the Fund Value, whichever is higher, as Death

Benefit. This plan also comes with an option of Accidental Death Benefit rider

ULIP policies aim at providing dual benefits that of protection and good returns.  Tata AIG Life Lakshya Supreme

ULIP comes with an Accidental Death Benefit rider to enhance the coverage and thus get all-round protection..

Key Features of Tata AIA Life Lakshya Supreme

         Non-participating unit-linked insurance plan

         On death, higher of the sum assured or fund value will be paid

         Accidental Death Benefit is available in this plan as a rider

         7 Investment Fund Options and 2 Unique Portfolio Strategies are available.

Benefits you get from Tata AIA Life Lakshya Supreme

Death Benefit – In case of death of the Life Insured, the nominee would get Sum Assured or Fund Value, whichever

is higher.

Maturity Benefit – On maturity, the Fund Value is paid to the policyholder.

Income Tax Benefit - Life Insurance premiums paid up to Rs. 1,00,000 are allowed as a deduction from the taxable

income each year under section 80C

Eligibility conditions and other restrictions in Tata AIA Life Lakshya Supreme

Page 8: Life Time Premier From ICICI Prudential Life Insurance

Minimum Maximum

Sum Assured (in Rs.) 7 X Annual Premium 15 X Annual Premium

Policy Term (in years) 20 30

Premium Payment Term (in years) Equal to Policy Term Equal to Policy Term

Entry Age of Policyholder(in years) 4 55

Age at Maturity(in years) NA 75

Single Premium (in Rs.) Not Allowed Not Allowed

Payment modes Yearly, half-yearly, quarterly or monthly

Sample illustration of premium amount in Tata AIA Life Lakshya Supreme

Premium = Rs.30,000

Age = 35 years

Premium Multiple= 10/15

Policy Term = 20 years and 30 years

Premium Paying Term = Regular Pay

Total Investment = Rs 30,000 X 20 years = Rs 6,00,000

                                  Rs 30,000 X 30 years = Rs 9,00,000

Additional Features and Benefits of Tata AIA Life Lakshya Supreme

Riders – There is one rider available in this policy- Accidental Death Benefit rider

Investment Fund Options

There are 7 Investment Funds available

1.       Large Cap Equity Fund

Page 9: Life Time Premier From ICICI Prudential Life Insurance

2.       Whole Life Mid Cap Equity Fund

3.       Super Select Equity Fund

4.       Whole Life Aggressive Growth Fund

5.       Whole Life Stable Growth Fund

6.       Whole Life Income Fund

7.       Whole Life Short Term Fixed Income Fund

And 2 Portfolio Strategies to choose from are:

1.       Systematic Money Allocation & Regular Transfer (SMART)

2.       Automatic Asset Allocation (AAA)

Top-up - Top Up is allowed except in the last 5 years of the policy.  Minimum Top Up premium is Rs 5,000. Each top

up premium has a lock in of 5 years

Switching - 12 free Switches are allowed in each policy year under this plan.

Partial Withdrawal - Partial withdrawals are allowed only after completion of 5 policy years or the life insured’s age is

at least 18 years, whichever is later. The Minimum Partial Withdrawal is Rs 5,000 such that at least 1 year’s

annualized premium should be maintained after Partial Withdrawal.

What happens if?

You stop paying the premium before 5 years - If the policy holder stops paying the premium, the insurance cover

will cease and the fund value net of any discontinuance charge will be transferred to the Discontinued Policy Fund.

The Discontinued Policy Fund will be credited with a minimum interest rate of 3.5% p.a. and the proceeds from this

will be payable after the fifth policy anniversary. In case of death of the Life Assured during this period, only the

accumulated fund value will be payable to the nominee.

You stop paying the premium after 5 years - If the policy holder stops paying the premium after 5 years, then the

accumulated policy fund amount till the date of discontinuance shall be paid to the policy holder and the policy will

terminate immediately.

You want a loan against your policy - There is no loan available under this plan.

Some ULIPs from other insurance companies

Max   Life   Fast Track Plan

SBI Life Unit Plus Super

ICICI Prudential Life Time Premier

Other ULIPs from Tata AIA Life Insurance

Tata AIA Life Insurance InvestAssure Gold Supreme

Tata AIA Life Insurance InvestAssure Maximizer

Page 10: Life Time Premier From ICICI Prudential Life Insurance

Tata AIA Life Insurance Swarna Bhavishya

Tata AIA Life InvestAssure Flexi Supreme

Tata AIA Life Insurance United Ujjwal Bhawishya Supreme

Tata AIA Life Insurance Gyan Kosh

Tata AIA Life Insurance Swarna Pratigya - Single Premium

Tata AIA Life InvestAssure Plus Supreme - Single Premium

Key features

Simplified issuance with dual benefit of investment & protection

Sum Assured paid to nominee in case of death of life insured

7 Investment Fund Options to suit your investment profile

ax benefits u/s 80C and 10 (10D) of the Income Tax Act

IndiaFirst Smart Save Insurance Plan

IndiaFirst Smart Save is a unit-linked insurance plan from IndiaFirst Life Insurance Company. In this plan, if the Life

Insured dies within the policy tenure, the nominee would get the Sum Assured or the Fund Value, whichever is higher

as Death Benefit. If the Life Insured survives the entire policy tenure, then he would get the Fund Value as Maturity

benefit.

Key Features of IndiaFirst Smart Save Plan

         Unit-linked insurance plans where risk is borne by the policyholder

         Choice of 5 investment funds available

         The investment can be protected against market fluctuations in the last 3 years before maturity

         Single, Limited and Regular Payment options available

Benefits you get from IndiaFirst Smart Save Plan

Death Benefit – In case of death of the Life Insured, the nominee would get higher of Sum Assured and Fund Value

Maturity Benefit – On maturity, the Fund Value is paid to the policyholder according to the investment option

chosen.

Income Tax Benefit - Life Insurance premiums paid up to Rs. 1,00,000 are allowed as a deduction from the taxable

income each year under section 80C

Eligibility conditions and other restrictions in IndiaFirst Smart Save Plan

Minimum Maximum

Page 11: Life Time Premier From ICICI Prudential Life Insurance

Sum Assured (in Rs.) for Regular

and Limited Payment Options

Higher of

105 % of Premium Paying

Term x Annualized Premium

or

10 x Annualized Premium

40 X Annualized Premium (if

age less than 45)

And

11 X Annualized Premium (if

age>=45 years)

Sum Assured (in Rs.) for Single

Payment Option

For age <45 years, 125% of

Single Premium and for

age>=45 years, 110% of Single

Premium

5 x Single Premium

Policy Term (in years) 15 20

Premium Payment Term (in years) Single Equal to Policy term

Entry Age of Policyholder 5 60

Age at Maturity - 75

Single premium (in Rs.) Rs 45000 NA

Payment modes Single, Yearly and Half-Yearly

Sample illustration of premium amount in IndiaFirst Smart Save Plan

Premium = Rs.50,000

Age = 30 years and 35 years

Policy Term = 25 years

Premium Paying Term = 25 years

Sum Assured = Rs 15,00,000

Total Investment  = Rs. 50,000 x 25 years = Rs. 12,50,000

Additional Features and Benefits of IndiaFirst Smart Save Plan

Page 12: Life Time Premier From ICICI Prudential Life Insurance

Riders – There are no riders available in this policy

Investment Fund Options

There are 5 Investment Funds available

         Equity 1 Fund

         Balanced 1 Fund

         Debt 1 Fund

         Index Tracker Fund

         Value Fund

Top-up - Not Applicable

Switching - The minimum amount that you can switch is Rs 5,000. 2 switches are free every month, i.e. 24 switches

are free every year.

Partial Withdrawal - Partial withdrawals are allowed only after completion of 5 policy years or 18 years age of the life

insured, whichever is later. The minimum amount that you can withdraw is Rs 5,000 and the maximum is 25% of

Fund Value such that the Fund Value after withdrawal does not fall below 110% of the annual premium for Regular

Payment and Limited Payment Options and the Fund Value after withdrawal does not fall below Rs 45,000 for Single

Payment Option.

What happens if?

You stop paying the premium before 5 years - If the policy holder stops paying the premium, the insurance cover

will cease and the fund value net of any discontinuance charge will be transferred to the Discontinued Policy Fund.

The Discontinued Policy Fund will be credited with a minimum interest rate of 3.5% p.a. and the proceeds from this

will be payable after the fifth policy anniversary. In case of death of the Life Assured during this period, only the

accumulated fund value will be payable to the nominee.

You stop paying the premium after 5 years - If the policy holder stops paying the premium after 5 years, then the

accumulated policy fund amount till the date of discontinuance shall be paid to the policy holder and the policy will

terminate immediately.

You want to surrender the policy – If the policy holder wants to surrender the policy before completing 5 years,

then the insurance cover will cease and the fund value net of any discontinuance charge will be transferred to the

Discontinued Policy Fund. The Discontinued Policy Fund will be credited with a minimum interest rate of 3.5% p.a.

and the proceeds from this will be payable after the fifth policy anniversary. In case of death of the Life Assured

during this period, only the accumulated fund value will be payable to the nominee.

If the policyholder surrenders the policy after completion of 5 policy years, then the insurance cover will cease and

the fund value shall be paid immediately and the policy would be terminated.

You want a loan against your policy- Loan is available under this plan before completion of 5 years and not

afterwards.

Page 13: Life Time Premier From ICICI Prudential Life Insurance

Alternate ULIPs from different insurance companies

HDFC   SL Crest

Kotak Invest Maxima

Max New York Life Fast Track Plan

Other ULIPs from IndiaFirst Life Insurance

IndiaFirst Young India Plan

IndiaFirst Money Balance Plan

Key features

Unit-linked insurance plan with life cover

Option to invest in 5 funds across different asset classes

Can be purchased online

Tax benefits as per prevailing tax laws

HDFC Pro Growth Super II 

HDFC Pro Growth Super II Plan is a unit linked insurance plan (ULIP), such that if the Life Insured dies within the

policy tenure, the nominee would receive both the Sum Assured and the Fund Value as Death Benefit. There are

various options of combining the basic Death Benefit along with riders to increase protection.

 

 

Key Features of HDFC Pro Growth Super II 

Unit linked insurance plan with a double death benefit

No medical tests required

8 options of basic Death Benefit with 3 choice of riders

Choice of 5 Investment Fund Options

 

 

HDFC Pro Growth Super II Plan Options 

The policyholder has a choice of 8 plan options -

1. Life Option = Death Benefit

2. Extra Life Option = Death Benefit + Accidental Death Benefit

3. Life & Health Option = Death Benefit + Critical Illness Benefit

4. Extra Life & Health Option = Death Benefit + Critical Illness Benefit + Accidental Death Benefit

Page 14: Life Time Premier From ICICI Prudential Life Insurance

5. Life & Disability Option = Death Benefit + Accidental Total & Permanent Disability Benefit

6. Extra Life & Disability Option = Death Benefit + Accidental Death Benefit + Accidental Total & Permanent

Disability Benefit

7. Life & Health & Disability Option = Death Benefit + Critical Illness + Accidental Total & Permanent Disability

Benefit

8. Extra Life & Health & Disability Option = Death Benefit + Accidental Death Benefit+ Critical Illness +

Accidental Total & Permanent Disability Benefit

 

 

Benefits you get from HDFC Pro Growth Super II 

Death Benefit – In case of death of the Life Insured, the nominee would get the Sum Assured Plus the Fund Value.

 

Maturity Benefit – On maturity, the Fund Value is paid to the policyholder.

 

Income Tax Benefit - Life Insurance premiums paid up to Rs. 1,00,000 are allowed as a deduction from the taxable

income each year under section 80C

 

 

Eligibility conditions and other restrictions in HDFC Pro Growth Super II 

Minimum Maximum

Sum Assured (in Rs.) 10 x AP 40 x Annual Premium

Policy Term (in years) 10 30

Premium Payment Term (in years) Equal to policy term

Entry Age of Policyholder (in years) 14 65

Age at Maturity (in years) NA 75

Single Premium (in Rs.) NA NA

Payment modes Only Yearly

 

 

Sample illustration of premium amount in HDFC Pro Growth Super II 

Premium = Rs.25,000

Age = 30 years and 40 years

Policy Term = 15 years

Premium Paying Term = Regular Pay

Sum Assured = Rs 2,50,000

Total Investment = Rs 25,000 X 15 years = Rs 3,75,000

 

Page 15: Life Time Premier From ICICI Prudential Life Insurance

  

 

Additional Features and Benefits of HDFC Pro Growth Super II 

Riders – There are 3 riders available in this policy

1. Critical Illness Benefit rider

2. Accidental Death Benefit rider

3. Accidental Total and Permanent Disability Benefit rider 

Investment Fund Options

There are 5 Investment Funds available

1. Short Term Fund

2. Income Fund

3. Balanced Fund

4. Blue Chip Fund

5. Opportunities Fund

 

Top-up - Not allowed in this plan

 

Switching - Free switching is allowed at anytime.

 

Partial Withdrawal - You are allowed to make partial withdrawals in this policy after 5 complete policy years or the

life assured is 18 years old, whichever is later. The minimum amount of partial withdrawal should be Rs. 10,000

subject at least 150% of original regular premium remaining in the Fund Value and the Maximum Partial Withdrawal

allowed is upto 300% of the original regular premium.

 

                                             

What happens if? 

You stop paying the premium before 5 years - If the policy holder stops paying the premium, the insurance cover

will cease and the fund value net of any discontinuance charge will be transferred to the Discontinued Policy Fund.

Page 16: Life Time Premier From ICICI Prudential Life Insurance

The Discontinued Policy Fund will be credited with a minimum interest rate of 3.5% p.a. and the proceeds from this

will be payable after the fifth policy anniversary. In case of death of the Life Assured during this period, only the

accumulated fund value will be payable to the nominee.

 

You stop paying the premium after 5 years - If the policy holder stops paying the premium after 5 years, then the

accumulated policy fund amount till the date of discontinuance shall be paid to the policy holder and the policy will

terminate immediately.

 

You want to surrender the policy – If the policy holder wants to surrender the policy before completing 5 years,

then the insurance cover will cease and the fund value net of any discontinuance charge will be transferred to the

Discontinued Policy Fund. The Discontinued Policy Fund will be credited with a minimum interest rate of 3.5% p.a.

and the proceeds from this will be payable after the fifth policy anniversary. In case of death of the Life Assured

during this period, only the accumulated fund value will be payable to the nominee.

 

If the policyholder surrenders the policy after completion of 5 policy years, then the insurance cover will cease and

your fund value shall be paid immediately and the policy would be terminated.

 

You want a loan against your policy - There is no loan available under this plan.

 

 

Alternate ULIPs from different insurance companies 

Aviva LifeBond Advantage

AEGON Religare iMaximize

IndiaFirst Life Smart Save

Max   New York   Life Fast Track Plan

 

 

Other ULIPs from HDFC Life Insurance 

HDFC SL   Crest

HDFC ProGrowth Flexi

HDFC ProGrowth Maximiser

HDFC   Pro Growth Plus

HDFC Smart Woman Plan

HDFC   Invest Wise Plan  - Single Premium

 

Key features

Variable Financial Protection for your family

Flexible additonal benefit options

Outstandaing investment opportunity of choice of selected investments

Tax benefits as per prevailing tax laws

Max Life Fast Track Plan

Page 17: Life Time Premier From ICICI Prudential Life Insurance

Max New York Fast Track Plan is a unit-linked insurance policy which allows entry age up to 60 years. The policy

offers a limited premium payment term in addition to the option of a single premium to the customer. Like in all other

ULIPS, here too the risk of investment is borne by the policyholder and not the insurance company.

Key Features of Max Life Fast Track Insurance Plan

Option of short premium payment terms

Entry age of Life Insured upto 60 years

Systematic investment through STP option to manage market volatilities

Choice of add on covers like Personal Accidental Benefit and Dread Disease rider

Benefits you get from Max Life Fast Track Insurance Policy

Death Benefit – In case of death of the Life Insured before maturity of Policy, amount equal to Sum Assured plus

Fund Value will be paid to the nominee.

Maturity Benefit – On maturity the Policyholder will be eligible to an amount equal to Fund Value. The Fund Value

will be calculated as:

Fund Value = Accumulated Units x NAV prevailing at that time

Income Tax Benefit – The premiums paid by customers towards this policy are exempted under section 80C and the

policy proceeds on maturity are exempted under section 10(10D) under section 80C of Income Tax Act

Eligibility conditions & other restrictions in Max Life Fast Track Policy

Minimum Maximum

Sum Assured (in Rs.)

Limited Pay

Age 30 to 45 years = 10 or 20 times ATP

Age 46 to 60 years = 10 times ATP

Single Pay (SP)

Age 30 to 45 years = 1.25 or 5 times SP

Age 46 to 60 years = 1.25 times SP

Annual Premium (in Rs.) Rs.100,000 No limit

Policy Term (in years) 10 20

Premium Payment Term (in years) 1 10

Entry Age of Policyholder 30 60

Age at Maturity - 70

Page 18: Life Time Premier From ICICI Prudential Life Insurance

Single premium (in Rs.) Rs.100,000 No limit

Payment modes Single, Annual, Semi-Annual, Quarterly and Monthly

Sample illustration for Max Life Fast Track Plan

Premium = Rs.1,00,000

Age = 30 years

Policy Term = 20 years

Premium Paying Term = 10 years

Fund Value = Rs.33,25,214 at an assumed rate of 10% per annum and Rs.18,04,180 at an assumed rate of 6% per

annum

Additional Features and Benefits of Max New York Life Fast Track Plan

Riders – There are 2 riders available in this policy

Personal Accidental Benefit is paid in case the insured’s death or total and permanent disability is caused

by an accident.  The rider can be opted for ages between 30 to 55 years and expires at life insured age 60

Dread Disease can be opted for ages between 30 to 50 years, and expires at life insured age 60. It gives

you an additional coverage from 10 specified dread diseases which, in case insured is diagnosed with any of

the below mentioned diseases, an additional benefit will be paid to the insured. Diseases like Heart Attack,

Cancer, Stroke, Corornary Artery Bypass Graft, Multiple Sclerosis, Kidney Failure, Major Organ Transplant,

Paralysis, Coma, Heart Valve Replacement/Repair are covered.

Investment Fund Options

Page 19: Life Time Premier From ICICI Prudential Life Insurance

There are 6 Investment Funds available to the customer under this policy

1. Growth Fund

2. Growth Super Fund

3. Balanced Fund

4. Conservative Fund

5. Money Market Fund

6. Secure Fund

For customers, who wish to leave the hassles of investment to the insurance company can choose theSystematic

Transfer Plan (STP). The option of STP is available only to those customers who have chosen to pay through annual

mode or in case of Single Premium

Top-up - There is no option of top up premiums in this policy.

Switching - A minimum switch amount of Rs.5,000 is allowed anytime during the policy term. Switches are free of

charge and a maximum of 12 switches will be allowed in a Policy Year

Partial Withdrawal - A maximum of 12 partial withdrawals allowed in a policy year and all are free of charge.

Minimum partial withdrawal amount is Rs 5,000 per transaction.

What happens if?

You want to surrender the policy – If the policy holder wants to surrender the policy before completing 5 years,

then the insurance cover will cease and the fund value net of any discontinuance charge will be transferred to the

Discontinued Policy Fund. The Discontinued Policy Fund will be credited with a minimum interest rate of 3.5% p.a.

and the proceeds from this will be payable after the fifth policy anniversary. In case of death of the Life Assured

during this period, only the accumulated fund value will be payable to the nominee.

If the policyholder surrenders the policy after completion of 5 policy years, then the insurance cover will cease and

your fund value shall be paid immediately and the policy would be terminated.

Alternate ULIPs from different insurance companies

India   First Money Plan

Aviva Life Bond Advantage Plan

Birla Sun Life Classic Endowment Plan

ICICI Prudential Pinnacle Super

Other ULIPs from Max Life Insurance

Max New York Life Flexi Fortune

Key features

Option of short premium payment terms enabling an early maturity and fast track accumulation

Page 20: Life Time Premier From ICICI Prudential Life Insurance

Choice of six well managed funds for investors with different risk appetite

Systematic Investment through STP option- to safeguard your wealth against market volatilities

Flexibility to make partial withdrawals to meet unplanned expenses

Birla Sun Life Insurance (BSLI) Dream Endowment Plan  

Policy opening date – 28th August 2010

 

This is a unit-linked insurance policy (ULIP) where the premium amount is invested in the markets (debt, equity

and cash market instruments). The value of investments may go up or down, hence the risk in ULIPS is borne by the

policy holder and not by the insurance company.

 

Key Features of Birla Sun Life Dream Endowment Plan 

The policy adds a certain guaranteed amount to your investments from the 10th policy year

Option to choose a specific Guaranteed Savings date when the Fund Value would be paid out to the Life

Insured

Option to increase Sum Assured by opting for Enhanced Sum Assured

 

 

Benefits you get from Birla Sun Life Dream Endowment Plan 

Death Benefit – In case of death of the policy holder, the nominee gets Basic Sum Assured + Fund Value +

Enhanced Sum Assured (if opted). Death benefit shall never be less than 105% of total basic premiums paid to date

minus any previous partial withdrawals.

 

Maturity Benefit - If the policy holder survives the policy term, then he/she gets the higher of Fund Value +

Guaranteed Savings Fund at maturity.

 

Income Tax Benefit - Life Insurance premiums paid up to Rs. 1,00,000 are allowed as a deduction from the taxable

income each year under section 80C. The maturity amounts you receive from this plan are exempt from tax under

section 10(10D)

 

 

Eligibility conditions and other restrictions in BSLI Dream Endowment Plan 

Minimum Maximum

Sum Assured (in Rs.) The higher of 10 or the number

of years to maturity divided by 2, for

entry ages below 45 and

The higher of 7 or the number of

No limit

Page 21: Life Time Premier From ICICI Prudential Life Insurance

years to maturity divided by 4, for

entry ages 45 and above

Policy Term (in years) 10 years 30 years

Premium Payment Term (in years) 5 years Same as Policy term

Lock-in period 5 years

Entry Age of Policyholder 1 year 65 years

Age at Maturity 18 years 75 years

Regular premium

Annual- Rs 12000

Half-Yearly- Rs 15000

Quarterly- Rs 20000

Monthly- Rs 24000

No limit

Single premium Not Allowed Not Allowed

Payment modes Yearly, Half-Yearly, Quarterly and Monthly (ECS)

Top-up premium Not Allowed Not Allowed

 

 

Additional Features and Benefits of Birla Sun Life Dream Endowment Plan 

Riders – Some additional benefits can be taken in the form of riders by paying extra premium

 

Type of Rider Available with Policy

Accidental death benefit Yes

Permanent disability benefit Yes

Waiver of premium benefit Yes

Critical illness (or dread diseases) benefit Yes

Increased death benefit / Term riderYes

(called as Enhanced Sum Assured)

Hospital cash benefit Yes

Surgical Care benefit Yes

 

Investment Fund Options– Under this plan the policy holder gets the following fund options:

Fund Enhancer

 

Top-up - There is no top-up facility under this policy.

 

Switching - Since this policy has only one choice of investment fund, there is no switching facility.

 

Partial Withdrawal - The policy holder is allowed to make partial withdrawals in this policy after completing 5 policy

years or when the Life Insured is 18 years of age, whichever is later. The minimum amount of partial withdrawal

should be Rs. 5000. There is no maximum limit, but a minimum Fund Value of Rs. 25,000 needs to be maintained.

Page 22: Life Time Premier From ICICI Prudential Life Insurance

 

 

What happens if? 

You stop paying the premium before 5 years - If the policy holder stops paying the premium, the insurance cover

will be discontinued and the accumulated fund value till that time minus discontinuance charge will be transferred to

the Discontinued Policy Fund. The proceeds from this Discontinued Policy Fund will be payable after the fifth policy

anniversary. In case of death of the Life Assured during this period, only the accumulated fund value will be payable

to the nominee.

 

You stop paying the premium after 5 years – If the policyholder stops paying the premium after 5 years, then the

insurance cover will be discontinued and the fund value shall be paid immediately and the policy would stand

terminated.

 

You want to surrender the policy – The policy can be surrendered from the 6th (sixth) policy year. The surrender

value will be equal to the fund value.

 

You want a loan against your policy – There is a loan facility under this policy. The minimum loan amount is Rs.

5,000 and the maximum loan amount is 40% of the fund value net of any discontinuance charge.

 

 

Alternate ULIPs from different insurance companies 

HDFC SL Crest

ICICI Prudential Elite Wealth

Kotak Wealth Insurance

Bajaj Allianz Max Advantage

 

 

Other investment plans from Birla Sun Life 

Birla Sun Life   Classic Endowment

Birla Sun Life   Wealth Secure

Birla Sun Life Wealth Max

Birla Sun Life   Platinum Advantage

BSLI Foresight Plan

Key features

Guaranteed Savings Amount on the date of your choice

Choice of Policy Term and Premium Payment Term

Enhanced financial security for your loved ones

Option of 5 additional riders

Kotak Wealth Insurance Plan

Page 23: Life Time Premier From ICICI Prudential Life Insurance

Kotak Wealth Insurance Plan is a unit linked insurance plan (ULIP) such that if the Life Insured dies within the

policy tenure, the nominee would receive Triple Death Benefit. The nominee would receive Sum Assured, Fund Value

and Lump Sum Benefit of all future premiums paid.

This plan has the unique feature of Death Benefit payment when the Life Insured and the Policyholder dies, in case

they are separate. So for example, if a person takes the policy for his wife, then he is the policyholder who pays the

premium and his wife is the Life Insured, on whose name the policy has been issued. Now, if he dies within the policy

tenure, then a Lump Sum Benefit would be paid since the payor is not alive anymore. And in case, if the Life

insured, i.e. the wife dies, then the beneficiary would get Sum Assured plus Fund Value as Death Benefit of the Life

Insured.

Key Features of Kotak Wealth Insurance Plan

         Unit linked insurance plan where the investment risk is borne by the policyholder

         Offers a unique feature of Triple Death Benefit

         Death Benefit is available even on death of the policyholder if different from the life insured.

         Comes with option of shorter premium payment term

Benefits you get from Kotak Wealth Insurance Plan

Death Benefit – There is Triple Death Benefit under both options of this policy:

If the Life Insured and the Policyholder are the same, then death benefit is Sum Assured plus Fund valueplus Lump

Sum Benefit of all future premiums that are due.

If Life Insured and Policyholder are not the same, then

On Death of the Life Insured, Death Benefit is Sum Assured plus Fund value

On Death of the Policyholder, Lump Sum Benefit of all future premiums that are due would be paid

Maturity Benefit – On maturity, the Fund Value is paid to the policyholder.

Income Tax Benefit - Life Insurance premiums paid up to Rs. 1,00,000 are allowed as a deduction from the taxable

income each year under section 80C

Eligibility conditions and other restrictions in Kotak Wealth Insurance Plan

Minimum Maximum

Sum Assured (in Rs.)

Higher of (10 X Annual

Premium)

Or

(0.5 X Policy Term X Annual

Premium)

25 X Annual Premium

Page 24: Life Time Premier From ICICI Prudential Life Insurance

Policy Term (in years) 10 years 30 years

Premium Payment Term (in years) 5 years / 10 years Equal to policy term

Entry Age of Policyholder (in years) 0 65

Age at Maturity (in years) 18 75

Single Premium (in Rs.) NA NA

Payment modes Only Yearly

Sample illustration of premium amount in Kotak Wealth Insurance Plan

Age = 35 years

Premium = Rs.50,000

Sum Assured = Rs 12,50,000

Policy Term = 20 yrs

Total Investment =Rs 50,000 X 20 years= Rs 10,00,000

Additional Features and Benefits of Kotak Wealth Insurance Plan

Riders – There are 3 riders available in this policy

1.       Kotak Accidental Disability Guardian Benefit (ADGB)

2.       Kotak Critical Illness Benefit (CIB)

3.       Kotak Accidental Death Benefit (ADB)

Investment Fund Options

In this plan there are 8 Investment Fund Options

1.       Classic Opportunities Fund

2.       Frontline Equity Fund

3.       Balanced Fund

4.       Dynamic Floor Fund II

5.       Bond Fund

Page 25: Life Time Premier From ICICI Prudential Life Insurance

6.       Floating Rate Fund

7.       Gilt Fund

8.       Money Market Fund

Top-up - You can invest additional premiums as top-up premiums anytime except in the last five policy years.  The

minimum top-up premium is Rs. 10,000. Every Top-up premium shall have an Additional Sum Assured which will be

1.25 times or 1.1 times of the Top-up premium paid. This Additional Sum Assured will be in addition to the life cover

Switching - You have the flexibility to switch investments from one fund to the other any time during the policy

term. First 4 switches are free in every policy year.

Partial Withdrawal - You are allowed to make partial withdrawals in this policy after 5 complete policy years. The

minimum amount of partial withdrawal should be Rs. 10,000 such that one annual premium should be maintained

after Partial Withdrawal

What happens if?

You stop paying the premium before 5 years - If the policy holder stops paying the premium, the insurance cover

will cease and the fund value net of any discontinuance charge will be transferred to the Discontinued Policy Fund.

The Discontinued Policy Fund will be credited with a minimum interest rate of 3.5% p.a. and the proceeds from this

will be payable after the fifth policy anniversary. In case of death of the Life Assured during this period, only the

accumulated fund value will be payable to the nominee.

You stop paying the premium after 5 years - If the policy holder stops paying the premium after 5 years, then the

accumulated policy fund amount till the date of discontinuance shall be paid to the policy holder and the policy will

terminate immediately.

You want to surrender the policy – If the policy holder wants to surrender the policy before completing 5 years,

then the insurance cover will cease and the fund value net of any discontinuance charge will be transferred to the

Discontinued Policy Fund. The Discontinued Policy Fund will be credited with a minimum interest rate of 3.5% p.a.

and the proceeds from this will be payable after the fifth policy anniversary. In case of death of the Life Assured

during this period, only the accumulated fund value will be payable to the nominee.

If the policyholder surrenders the policy after completion of 5 policy years, then the insurance cover will cease and

your fund value shall be paid immediately and the policy would be terminated.

You want a loan against your policy - Loans shall be granted against the policy once two years' premiums have

been paid. The rate of interest shall be determined by the Company from time to time.

The maximum loan value is 40% of the Fund Value of the policy at that time

Alternate ULIPs from different insurance companies

LIC Pension Plus

ICICI Prudential Elite Wealth

Sahara Shikhar Jeevan Bima

Page 26: Life Time Premier From ICICI Prudential Life Insurance

Other ULIPs from Kotak Life Insurance

Kotak Life Platinum Plan

Kotak Life Ace Investment Plan

Kotal Life Invest Maxima Plan

Kotak Life Single Invest Advantage Plan

Key features

Unit-linked insurance plan with comprehensive protection of life insurance

Enhanced protection for your family through Triple Benefit

Wealth accumulation through investing in a fund of your choice

Tax benefits as per prevailing tax laws

Introduction:

SBI Life – Smart Horizon is a non participating Unit Linked Life Insurance Plan. With Smart

Horizon, we give you a hassle free way to get market linked returns through the unique feature of Automatic Asset Allocation, so you truly don’t need to be an expert to grow your money! Should you be keen on managing your money actively, we also give the freedom to take charge of your investments.

Key Features:

No Premium Allocation Charge from 2nd year onwards, thereby enhancing your fund value.

• Hassle free investment management by way of Automatic Asset Allocation, also a choice to manage your investments actively by choosing between 4 diverse fund options at your disposal.

You can also enjoy the best of both worlds, by a combination of Automatic Asset Allocation and the Active Fund Management options.

• Life Insurance coverage, with minimum Sum Assured based on your age.

Page 27: Life Time Premier From ICICI Prudential Life Insurance

• Flexible product with an option to increase or decrease your Sum Assured, from 6th year onwards.

• Switch and redirection facilities, to give you the power for active management of your investments.

• Option to customize the product with a wide range of riders: SBI Life - Criti Care 13 Rider (UIN: 111A018V01), SBI Life - Accidental Death Benefit Linked Rider (UIN: 111A019V01), SBI Life - Premium Payor Waiver Benefit Rider (UIN: 111A017V01) and SBI Life - Income Sustainer Rider (UIN: 111A020V01).

Product Snapshot

Age at Entry* Minimum: 7 years      Maximum: 60 years

Age at Maturity 70 years

Policy Term 10 yrs, 15 to 30 years (both inclusive)

Regular Premium Amount (X 100)

Minimum Maximum

Yearly Rs 24,000 Rs 74,000

Half-yearly Rs 15,000 Rs 37,000

Quarterly Rs   8,000 Rs 18,500

Monthly Rs  3,000 Rs   6,200

Premium Modes Yearly / Half-yearly / Quarterly / Monthly***

Sum Assured Minimum:For Ages below 45 yrs : Higher of {10 x Annual Premium (AP) or (0.5 x Term x AP)} 

For Ages  45yrs & above: Higher of {7 x AP  or (0.25 x Term x AP)}

Maximum:For All Ages - 20 x AP

Benefits:

Maturity Benefit: On completion of Policy Term, Fund Value will be paid.

• Death Benefit: Higher of the Fund Value or Sum Assured# is payable; with a minimum of 105% of total basic premiums paid# till the time of death.

• Rider Benefits:

Page 28: Life Time Premier From ICICI Prudential Life Insurance

• SBI Life - Criti Care 13 Rider: Provides lump sum amount to take care of 13 Critical Illnesses which include Cancer, Coronary Artery Bypass Graft Surgery, Heart Attack, Heart Valve Surgery, Kidney Failure, Major Burns, Major Organ Transplant, Paralysis, Stroke, Surgery of Aorta, Coma, Motor Neurone Disease and Multiple Sclerosis.

• Accidental Death Benefit Linked Rider:Provides additional death benefit if the death occurs as a result of an accident.

• Premium Payor Waiver Benefit Rider: In the event of the death of the Proposer, the cover for the Life Assured under the base policy continues and the future premiums under the base policy, payable during the rider term, will be paid by the Company.

• Income Sustainer Rider: Provides additional benefit in the case of death or in the case of Total & Permanent Disability due to Accident or Sickness, whichever is earlier. A 25% of income sustainer benefit sum assured is paid upfront and 1% of income sustainer benefit sum assured is paid monthly in arrears for 10 years or till the end of the base policy term (capped at a maximum of 30 years) whichever is higher.

• Tax Benefits:

Tax deduction under Section 80C is available. However in case the premium paid during the financial year, exceeds 10% of the sum assured, the benefit will be limited up to 10% of the sum assured. Tax deduction under Section 80 (D) is available for premiums paid towards Criti Care 13 Rider.

Tax exemption under Section 10(10D) is available, subject to the premium not exceeding 10% of the sum assured in any of the years during the term of the policy.Tax benefits, are as per the Income Tax laws & are subject to change from time to time. Please consult your tax advisor for details.

Ing visya

New Future Perfect (Unit Linked Insurance Plan - Retirement Planning)Highly flexible unit linked insurance plan (ULIP) with systematic withdrawals for a perfect retirement planning. 

The ING Life New Future Perfect Unit Linked Insurance Plan has has been carefully put together to enable you get the maximum benefits. It not only provides you with flexibility in terms of premium amounts and frequency, but also offers you an investment opportunity that’s just perfect for your long-term financial future. 

The ING Life New Future Perfect Unit Linked Insurance Policy offers you flexibility in terms of how much you want to

Page 29: Life Time Premier From ICICI Prudential Life Insurance

pay, how often you want to pay and the choice of investment pattern. After all, what you are looking for is not just life cover but something that covers all of what life has to offer. 

Key benefits

Flexible Life Cover

Flexible Investment Options

Regular income through systematic withdrawal benefit after age 60

Product features…

Eligibility

Minimum entry age: 8 years

Maximum entry age: 55 years (Subject to Premium Payment Term)

Maximum maturity age: 80 years

Premium Payment Terms

Choose premium paying terms of 5-25 years

Premium Payment Options

Annual, half-yearly, quarterly or monthly

Minimum Premium Payable

Annual : Rs. 15,000

Half-Yearly : Rs. 8,000

Quarterly : Rs. 4,000

Monthly : Rs. 1,500

Top ups Rs. 5,000