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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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