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Investment Plans 2526 views June 6, 2020
Nowadays, investment with a life cover is a cherry on the cake so most of the individuals looking for an insurance-cum investment plan. In an investment insurance plan, individuals can increase their wealth with life protection until the policy term. So, if you are searching for such a plan, you should explore ICICI Pru Guaranteed Wealth Protector Plan. Basically, this is a ULIP plan in which your money is invested in equity and debt funds. In the initial stage, a large portion of the funds will be invested in equity, and then as your age increases, the risk will be moved to the debt funds. This is how your fund value will increase and so will your wealth.
Table of Contents
Now you must explore all the benefits of this policy in detail. Have a look at all of them and figure out the advantage of the plan.
If in case the insured dies during the policy term, the nominee will get the highest of the following:-
The minimum death benefit will be 105% of all the premiums paid up to the death of the insured.
If the insured survives the policy term successfully, maturity benefits will apply. You will receive the highest of the following as the maturity benefits:-
Assured Benefit will be given as follows:-
After the fifth policy year to the sixth year, the company will add some value to the funds and your funds will be increased. You will get an addition of 0.25% of the Fund Value as the loyalty additions. This benefit will be given from the company to the insured and thus your invested amount will increase.
You will also get a wealth booster and the value of your funds will increase after the 10th year. The additions will be as follows:-
You are allowed to increase or decrease the value of the sum assured in the ICICI Pru Guaranteed Wealth Booster Plan during the policy term. The minimum increase in the sum assured will be 7 times the annual premium up to 10 times the annual premium.
The company allows you to surrender the policy after the payment of all the premiums regularly for 5 years. In case of an emergency, you can surrender the policy and take the fund value. The company will calculate the value of the funds and the final amount that has to be given once the policy is surrendered.
Particulars | Details |
---|---|
Minimum Age of Entry | 8 Years |
Maximum Age of Entry | 60 Years for Five Pay and 70 Years for One Pay |
Premium Paying Term | Single Pay and 5 Years |
Minimum Amount of Premium | · Rs. 48000 for One Pay · Rs. 24000 Per Annum for Five Pay paying annually. · For any other modes the Premium will be Rs. 48000 |
Maximum Amount of Premium | Unlimited |
Frequency of Making the Premium Payment | Monthly, Half-Yearly, Annually and One Pay |
Term of the Policy | 10 Years |
Minimum Age of Maturity | 18 Years |
Maximum Age of Maturity | 70 Years for Five Pay and 80 Years for Single Pay |
Minimum Sum Assured | 1.25 Times of the Single Premium |
Maximum Sum Assured | 10 time of the annual premium |
There are certain terms and conditions of the ICICI Pru Guaranteed Wealth Protector Plan that you should read before taking it.