Investment Plans 414 views March 4, 2021

If you are looking for a life insurance plan that can provide you protection along with guaranteed benefits at all stages of life, ICICI Pru Guaranteed Income for Tomorrow plan can be the right choice for you! With multiple plan options to protect your loved ones, you can live your life worry-free as this plan helps you achieve your various life goals like parenthood, marriage, education, etc. Before getting into the details of this plan, let’s understand its key highlights.

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  1. Life insurance for your family’s financial security
  2. Multiple plan options – Lump sum, Income, Early Income, and Single Pay Income
  3. Guaranteed benefits via lump sum or regular income
  4. Guaranteed income option from the 2nd policy year onward
  5. Multiple premium payment frequencies
  6. Tax benefits
  7. A 15 or 30-day free look period

Now you would want to understand these features of the ICICI Pru Guaranteed Income for Tomorrow plan in detail. Well, on this page, you can understand the same. But before that, we will be discussing its policy term, the sum assured, premium payment term, eligibility criteria, etc. Do read to know more!

What will be the Policy Term and Premium Payment Term?

In the case of the ICICI Pru Guaranteed Income for Tomorrow plan, the policy term and premium payment term will depend on the plan option chosen by you. You can check more in the below table.

Plan OptionPolicy TermPremium Payment Term
Lump Sum10 or 12 years5 years
12 years6 years
12 or 15 years7 years
15 or 20 years10 years
5, 10, or 15 yearsOne Time (single payment)
Income6 years5 years
8 years7 years
11 years10 years
Early Income8 years7 years
11 years10 years
Single Pay Income10 yearsOne Time Payment

What is the Minimum Premium Amount towards ICICI Pru Guaranteed Income for Tomorrow plan?

The minimum premium also depends on the plan option chosen by the policyholders, while there is no maximum limit. Individuals can also choose to pay the premium only once if they like to do so. Or they can choose from any of the monthly, half-yearly and annual intervals to pay the premium. The below table contains premium amount details, so let’s check!

Plan OptionMinimum Premium Amount
Lump SumFor Single Pay: INR 50,000

Other than single pay: INR 6,000 per annum
IncomeINR 30,000 per annum
Early IncomeINR 30,000 per annum
Single Pay IncomeINR 1,00,000

Benefits of ICICI Pru Guaranteed Income for Tomorrow Plan in Detail

Individuals can choose from 4 different plan options of  ICICI Pru Guaranteed Income for Tomorrow plan according to their convenience. These are Lump sum, Income, Early Income, and Single Pay Income. The benefits will depend on the plan chosen. So, we will be discussing the benefits below. Please check!

Lump Sum Plan Option

With this plan option, you can choose to pay the premium for a certain period, and at the end of the policy term, the plan will provide you a guaranteed lump sum amount. For example, if you choose a policy term of 12 years, you will need to pay the premium for only 6 years. Other than this, this plan option also provides a death benefit to the nominee in case the policyholder dies during the policy term. This benefit will be different for limited pay and single pay options. The below table will help you understand more!

Death Benefit for Limited PayDeath Benefit for Single Pay
Highest of

  1. 10x annualized premium

  2. 105% of the total premiums paid up to the date of death

  3. Sum assured on maturity X Death benefit factor for a lump sum plan

Highest of

  1. 1.25 x single premium or 10 x single premium

  2. Sum assured on maturity X Death benefit factor for a lump sum plan

Income Option

With this plan option, you can receive a guaranteed income for a limited period at the end of the policy term on paying the premium for a certain period. The plan will provide guaranteed income at the end of every year or month that will start 1 year after the end of the policy term for a chosen period of 5, 7 or 10 years.

The death benefit will be the highest of the following amounts.

  1. 10x annualized premium
  2. 105% of the total premiums paid up to the date of death
  3. Annual guaranteed income X Death benefit factor for an income plan

Early Income Option

With this plan option from the ICICI Pru Guaranteed Income for Tomorrow policy, individuals can get a regular income as early as the 2nd year of their policy term. For premium payment of 7 years, the guaranteed early income will be 20% of the annualized premium amount, while for a premium payment of 10 years, it will be 25% of the annualized premium.

However, upon the death of the policyholder, the death benefit will be given to the nominee. It can be the highest of the following amounts.

  1. 10x annualized premium
  2. 105% of the total premiums paid up to the date of death
  3. Annual guaranteed income X Death benefit factor for the early income plan

Single Pay Income Option

When you choose a single pay income option, you need to pay the premium once. Subsequently, you will receive the guaranteed income for a fixed period starting from the 2nd to the 10th policy year.

ICICI Pru Guaranteed Income for Tomorrow Eligibility Criteria

Please check the below table to understand the eligibility criteria of the ICICI Pru Guaranteed Income for Tomorrow plan.

Plan OptionMinimum age at entryMaximum age at entryMinimum age at maturityMaximum age at maturity
Lump Sum601860
Income601871
Early Income18 minus policy term601871
Single Pay IncomeFor Sum Assured Assured on Death: Death:

10X: 45
1.25x: 60
18For Sum Assured Assured on Death: Death:

10X: 55
1.25x: 70

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