Launch Date | UIN | Status |
24/12/2013 | 105L139V01 | Active |
Under this plan an individual, can choose from two portfolio management strategies:
The individual also chooses a policy term, sum assured and the premium paying mode. After the policy term is over on maturity, the insured receives maturity benefit as lump sum or as a structured payout through settlements. The maturity benefit is fund value including top-ups (in form of units), if any would be paid and Loyalty additions (0.25% of fund value paid every year from 6th year onwards) along-with wealth boosters (1.5% or 3.25% of average fund value as additional units paid every 5th year starting from 10th year). If in-case on unfortunate death of the individual during the policy term, his nominee receives death benefit depending upon the premium mode and age.
Single premium mode |
For limited and regular pay if the person dies below 50 years of age |
For limited and regular pay if the person dies above 50 years of age |
A higher value from: |
A higher value from: |
A higher value from: |
Sum assured +top-up sum assured if any |
Sum assured+fund value+ top –up value, if any |
Sum assured +top-up sum assured if any |
Fund value + top up fund value if any |
105% of the total premiums paid till death including top-ups |
Fund value + top up fund value if any |
105% of the total premiums paid till death including top-ups |
|
105% of the total premiums paid till death including top-ups |
Let us understand this with an illustration,
Consider,
Person’s age: 35 years
Policy term: 20 years
Limited premium: Rs 50000 per annum
Consider a 35 year old person who opts for a limited premium payment for a 20 year policy term. At the end of the policy term, on maturity he receives approximately Rs. 6, 81,695 which includes the fund value and top-ups alongwith loyalty additions and wealth boosters.
ICICI Prudential Life Insurance Company (ICICI Prudential Life) is a joint venture between ICICI Bank Ltd., India's largest private sector bank, and Prudential plc, a leading international financial services group headquartered in the United Kingdom. ICICI Prudential Life was amongst the first private sector life insurance companies to begin operations in December 2000 after receiving approval from Insurance Regulatory Development Authority of India (IRDAI)
Robinhood is known for its user & customer centric approach. We take care of all the phases of insurance, whether you've bought the policy from us or not.