Our representative will call you within few minutes
Investment Plans 4738 views May 29, 2020
Nowadays making an investment is the right decision but an investment with a risk cover is a cherry on the cake. Therefore, many companies offer an investment insurance plan that covers the risk of your life and helps you accumulate more funds for the future. So, you can explore the ICICI Pru Signature Plan, a unit-linked insurance plan in which you have the power to manage the risk portfolio. It has flexible options for investment that will help you multiply your funds. You can enjoy wealth booster after the 10th policy year and increase the value of your invested funds. Let’s have a look at the features and benefits of this investment insurance plan.
Table of Contents
There are some unique benefits of this policy that will be helpful for the accumulation of funds. You can cover the financial risk of your family with this insurance plan even when you are not with them.
During the unfortunate death of the policyholder, the nominee will receive the highest of the following amounts:-
At the time of policy maturity, you are entitled to receive the Fund Value including the top-up Fund Value. You can take the maturity benefits as a lump sum or as a structured payout using the settlement option.
Partial Withdrawal Benefits
In case of an emergency, you are allowed to make partial withdrawals from the policy and it is only allowed if you made regular payment of all the premiums in the first five years. You cannot take more than 20% of the fund value in a policy year as the partial withdrawal amount.
There are various options for settling the maturity amount in the ICICI Pru Signature Policy. You can take the maturity
amount in the following manner:-
If in case the policyholder dies during the settlement period, the nominee is entitled to take higher of the following amounts
You can switch between funds as per your needs and preference if you have chosen the Fixed Portfolio Strategy. This benefit doesn’t include any charges and the minimum amount for switching from one fund to another is INR 2000.
You have the option to invest a surplus amount in the same insurance plan to increase your benefits. Adding a top-up premium will increase the amount of sum assured and the minimum amount for the top-up premium is INR 2,000.
The company also allows you to increase or decrease the amount of the Sum Assured. You can manage the Sum Assured during the policy term but any adjustment in the Sum Assured will not affect the amount of premium payable.
You can increase the term of your policy by just informing the company. The term of policy can be increased in the ICICI Pru Signature Plan but you cannot decrease it.
There is a guaranteed addition of money in the fund value, known as the wealth booster. The company will boost your fund value including the top-up fund value by 3.25% of the funds on every 5th year after the completion of 10 policy years.
The ICICI Prudential Insurance Company will add all the deductions made in the name of Mortality Charges and Administrative Charges at the time of maturity into your fund value. It simply means that all your mortality charges and administrative charges will be refunded at the time of maturity.
|Premium Paying Term||· 5 Years, 7 Years, and 10 Years for Limited Pay.
· Same as the Policy Term for Regular Pay.
|Minimum Policy Term||10 Years|
|Maximum Policy Term||30 Years and Whole Life for the Whole Life Policy Option|
|Minimum Premium Amount||Rs.30000
Rs.60000 for the Whole Life Option
|Maximum Premium Amount||No Limit|
|Premium Paying Frequency||Monthly, Half-Yearly, and Yearly|
|Minimum Sum Assured||7 Times of the Annualised Premium|
|Maximum Sum Assured||10 Times of the Annualised Premium|
|Top-Up Sum Assured||1.25 Times of the Top-Up Premium|
|Minimum Age of Entry||0 Years|
|Maximum Age of Entry||60 Years|
|Minimum Maturity Age||18 Years|
|Maximum Maturity Age||75 Years|
|Maturity for Whole Life Option||99 Years|
The ICICI Pru Signature Plan is a product of the ICICI Prudential Life Insurance Company. Before taking this plan, you must go through the company’s profile. The ICICI Prudential Life Insurance Company is a joint venture between ICICI Bank and Prudential Corporation. It was established in the year 2000 and now it has a variety of insurance products. There are various insurance plans that a person can choose depending upon the needs and preference.
Our representative will call you within few minutes
LIC Term Insurance for 1 Crore Cover
LIC Term Plan Premium Calculator
Health Insurance Claim Settlement Ratio
ICICI Prudential Term Insurance
Aditya Birla Sun Life Term Insurance
IndiaFirst Life Term Insurance
Royal Sundaram Health Insurance
Bajaj Allianz Health Insurance
ICICI Pru iProtect Smart Term Plan
HDFC Life Click 2 Protect Term Plan
Exide Life Smart Term Edge Plan
Bajaj Allianz Life Smart Protect Goal Plan
TATA AIA Maha Raksha Supreme Plan
Tata AIG Medicare Protect Plan
Edelweiss Health Insurance Silver Plan
HDFC ERGO my:Health Suraksha Plan
Niva Bupa Health Companion Plan
Bharti AXA Group Health Assure Plan
Royal Sundaram Lifeline Supreme Plan
ManipalCigna ProHealth Protect Plan
Reliance Health Infinity Insurance Plan
Kotak General Insurance Health Care Plan
Star Health Young Star Insurance Policy
National Saving Certificate (NSC)
ICICI Pru Guaranteed Income For Tomorrow Plan
Bajaj Allianz Life Guaranteed Income Goal
Bharti AXA Life Guaranteed Income Pro