- The policy has been designed to help build a retirement corpus on the basis of the individual’s risk appetite
- Provides you with the advantages of equity participation along with the ease of a capital guarantee
- Through an Assured Benefit, the policy protects the savings from market downturns
- Offers you the option to pay premiums all through the policy term or for 5 years or 10 years
- You can invest money in the policy in form of top ups
- At retirement, the policy provides with the option to pick from available annuity options to receive regular income
- You can enhance the retirement corpus through Pension Boosters under this plan
- Enjoy tax benefits on the premiums paid and the benefits received as per the Indian Income Tax Act
- You may keep a track of your ICICI Prudential life insurance policy status online
ICICI Pru Immediate Annuity Plan
- This is a non participating retirement plan from ICICI Prudential Life Insurance
- The policy comes with a set of 5 immediate annuity options which offers income for life and also provide with the best returns for golden years so that you can meet your needs
- At the time of retirement, by making a lump sum payment, you can purchase ICICI Pru Immediate Annuity plan
- This plan will start paying a regular income in the an annuity form for life, at a selected frequency in 4 annuity payout modes – yearly, half-yearly, quarterly or monthly.
- The policy offers a choice of 5 payout alternatives.
- You can choose the ICICI Prudential life insurance policy status which suits your needs
- The annuity amount that you choose at the time of policy purchase is guaranteed for life, and in case of certain circumstances, for some period after that
- Provides you with a number of annuity options. The immediate annuities that the policy offer to individuals and group customers include the following:
- Individual Tied Immediate Annuity: This option is basically used in terms of paying annuities under the individual delayed pension plans offered by the Company
- Individual Standalone Immediate Annuity: This is used when individuals otherwise wish to buy an annuity
- Superannuation Tied Immediate Annuity: It is used for the following:
- To pay annuities under superannuation funds that are managed by ICICI Prudential Life
- To pay annuities under superannuation funds that are not managed by ICICI Prudential Life, and under other groups, if the premium for annuity purchase is above Rs. 2 crore in a financial year.
- Superannuation Standalone Immediate Annuity: Used to pay annuities under superannuation funds not managed by ICICI Prudential Life, and under other groups, if the premium for annuity purchase is less than Rs. 2 crore in a financial year
- To find out which option suits them best, people who are investing in this plan can keep a track of their ICICI Prudential life insurance policy status online
- ICICI Prudential Life Insurance provides with a number of payout options:
- Life Annuity: The company pays annuity for life under this option
- Life Annuity with Return of Purchase Price: Under this option, it will pay annuity for life to the annuitant. The paid premium in the beginning is returned to the beneficiary or nominee on his/her death.
- Joint Life, Last Survivor without Return of Purchase Price: As the name suggests, this option basically will pay annuity all through the life of the annuitant and on his/her death, the annuity will carry on during the lifetime of the named spouse
- Joint Life, Last Survivor with Return of Purchase Price: If this option is chosen, it will pay annuity all through the life of the annuitant and on his/her death and the annuity will continue during the lifetime of the named spouse. On the death of the named spouse (last survivor), the premium’s purchase price is returned to the nominee
- Life Annuity Guaranteed for 5/10/15 years and Thereafter: On the selection of this option, it will pay an annuity for a guaranteed period of 5/10/15 years as chosen by the annuitant. This number has nothing to do with the fact whether the annuitant is alive or not. The annuity payments will continue as long as the annuitant is alive if the annuitant survives the guarantee period. Checking their ICICI Prudential life insurance policy status and requirements online will help people to know which payout option is the best for them
