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Investment Plans 2397 views June 9, 2020
In recent years, ICICI Prudential insurance company has amazed many individuals with its policies whether it is a health insurance plan or a ULIP plan. Many people have secured their future with ULIP plans and accumulated a lot of funds. Now, the ICICI Prudential has come with a new investment insurance plan known as ICICI Pru Elite Wealth Super Plan. In this insurance plan, you can make an investment into different portfolio management strategies and grow your wealth. On the other hand, this plan gives you a life cover and it means that in case of unfortunate death during the policy term your family will receive the Sum of money. So, if you find this plan interesting then you must explore the various features and benefits of this investment insurance plan.
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Here you can see the benefits of this ULIP plan and see how it will help you to accumulate funds for your future. This insurance plan also gives you a life cover so that your family can enjoy the benefits after you.
During unfortunate death of the insured, the nominee is entitled to receive the highest of the following benefits:-
If you successfully survive the policy term then in the maturity benefit you will receive the Fund Value including the Top-up fund value. You have various options for taking the maturity benefits either as a lump sum or divide it into a structured payout. The options for receiving the maturity amount are monthly, quarterly, half-yearly, and yearly.
You will get loyalty additions from 6th policy in the ICICI Pru Elite Wealth Super Plan and it will be only given if you have cleared all the premiums due regularly. The additions will be done on a yearly basis and the company will add units to the fund value. The Addition will be as follows:-
Premium Paying Term | Loyalty Additions | |
---|---|---|
End of 6th and 7th Year | After 8th Year | |
Single Payment of Premium | 0.40% | 0.40% |
5 Years to 6 Years | 0.10% | 0.10% |
7 Years to 9 Years | 0.25% | 0.40% |
10 Years and Above | 0.25% | 0.40% |
If he has taken the policy for the long term then you can enjoy the wealth booster benefits given by the company. The company will add extra units in the period of every 5 years after the 10th policy year. The wealth booster given will be as follows:-
Premium Paying Term | Wealth Booster |
---|---|
5 Years and 6 Years | 1% |
7 Years to 9 Years | 1% |
10 Years and Above | 2% |
Single Payment of Premium | 1% |
There are a number of funds offered by the ICICI Prudential Insurance Company in which you can invest the amount of your premium. There is no restriction for switching between funds as you can switch anytime as per your needs. You must remember to maintain a balance between the debt funds and equity funds and switch between funds according to the market fluctuations.
In the Elite Wealth Super Plan, you have the option to add Accidental Death Rider for additional protection. Go through the terms and conditions before adding a rider in the policy.
Particulars | Particulars |
---|---|
Minimum Age of Entry | 0 Years |
Maximum Age of Entry | 75 Years for Single Pay 65 Years for Limited and Regular Pay |
Minimum Age of Maturity | 18 Years |
Maximum Age of Maturity | 80 Years for Single Pay 75 Years for Regular and Limited Pay |
Premium Paying Term | Single-Premium for Single Pay 5 Years to 10 Years for Limited Pay Same as the Policy Term for the Regular Pay |
Minimum Premium Amount | Rs.6 Lacs per annum |
Maximum Premium Amount | Unlimited |
There are four types of Portfolio Management Strategy in the ICICI Pru Elite Wealth Super Policy and they are:-