Investment Plans 129 views May 3, 2021

ICICI Pru Anmol Bachat Plan could be suitable for people who want to enjoy the dual benefits of protection and savings. With this endowment plan from ICICI Lombard, you can achieve important milestones with guaranteed bonuses and life cover. This plan is one of the preferred choices among customers because of the flexibility it offers when choosing the premium payment term. Before going any further, we are showing the prominent features of the ICICI Pru Anmol Bachat Plan below. Please check!

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  1. Additional lump sum amount in case of an accidental death
  2. Option to choose premium payment term as per your need
  3. Multiple policy term options
  4. Loan against policy
  5. Multiple premium payment frequency options
  6. 15 or 30-day free look period
  7. Tax benefits

You can go through this page to know these features of the ICICI Pru Anmol Bachat Plan in detail. Here, we will be discussing the same so that you can understand them better. Keep reading to know more!

Let’s Discuss the ICICI Pru Anmol Bachat Plan Features in Detail

ICICI Pru Anmol Bachat Plan is a non-linked, participating endowment micro-insurance plan with which individuals can get dual benefits. We are showing its benefits in detail. Please check!

Death Benefit

If the policyholder dies during the policy term, ICICI Pru Anmol Bachat Plan provides a lump sum benefit, which will be higher of the following amounts.

  1. Sum assured on death, plus accumulated bonuses
  2. 105% of total premiums received as on the date of death

Here, the sum assured on death will be different for single pay and limited/regular pay policies. For a single pay policy, the sum assured will be the highest of the following amounts.

  1. Sum assured multiple X single premium
  2. Minimum guaranteed sum assured on maturity
  3. Absolute amount assured to be paid on death

For Regular or Limited Pay Policy, the sum assured will be the highest of the following amounts.

  1. Sum assured multiple X annualized premium
  2. Minimum guaranteed sum assured on maturity
  3. Absolute amount assured to be paid on death

To know about the sum assured multiple, you can check the below table.

ConditionSum Assured Multiple
Single premium and the age at entry less than 45 years1.25
Single premium and the age at entry equal to or more than 45 years1.25
Regular/Limited premium and the age at entry less than 45 years10
Regular/Limited premium and the age at entry equal to or more than 45 years7

In case the policyholder dies due to an accident, the policy will provide an additional lump sum amount equal to the absolute amount assured to be paid on death as chosen by him/her.

Maturity Benefit

If a policyholder survives until the end of the policy term for a fully paid policy, ICICI Pru Anmol Bachat Plan will provide maturity benefits to the policyholder. The benefit amount will be higher of the following amounts.

  1. Guaranteed maturity benefit plus subsisting reversionary bonus plus terminal bonus (if any)
  2. 100.1% X (sum of annualized premiums paid plus loadings for modal premiums, if any)

Note – Guaranteed maturity benefit will be decided at the inception of the policy. This amount will depend on the age at entry, policy term, premium payment term and gender.

What will be the Policy and Premium Payment Term?

For the ICICI Pru Anmol Bachat Plan, the policy term will depend on the premium payment term. To know more, you can check the below table.

Premium Payment Term (in years)Policy Term (in years)
Single Payment5 or 10
510
710
1010
1015

What is the Premium Amount?

The minimum premium amount for the ICICI Pru Anmol Bachat Plan will be INR 2,400 per annum (for limited premium payment), while the maximum amount will be INR 12,000 per annum. Also, if you are not choosing a single premium policy, you can pay the premium via any of these modes – Yearly, Half-yearly or Monthly.

Loan Against Policy

In case you need urgent money, ICICI Pru Anmol Bachat Plan can be your savior. Once your policy acquires a surrender value, you can avail of the loan under this policy. The loan amount can be up to 80% of the surrender value.

ICICI Pru Anmol Bachat Plan Eligibility Criteria

Have a look at the ICICI Pru Anmol Bachat Plan eligibility criteria mentioned in the below table.

Premium Payment Term (in years)Minimum Age at Entry (in years)Maximum Age at Entry (in years)
Single Payment1860
540
750
1050
1055

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