ICICI Pru Guaranteed Income For Tomorrow (GIFT)

  1. Personal
  2. Insurance
  3. ICICI PRU Guaranteed Wealth Protector

Overview

A Unit Linked Non-Participating Individual Life Insurance Plan

ICICI Pru Guaranteed Wealth Protector is plan that offers the potential for high returns, by investing a portion of your money in equity, while also providing the dual assurances of capital guarantee and life cover1.

Your funds will be managed using the Guaranteed Wealth Protector Strategy. Under this strategy your monies will be allocated to an equity oriented fund and a debt oriented fund. At the start of the policy, a higher portion of your money will be invested in the equity oriented fund. Over time the allocation to the debt oriented fund will be increased in order to manage the guarantee. The allocation between the equity oriented fund and the debt oriented fund will be rebalanced periodically throughout the policy term. This regular reallocation will in turn determine the returns generated under the policy.

Key benefit's of ICICI Pru Guaranteed Wealth Protector

  • Life Cover1 for the entire policy term so that your family is financially secured even in your absence
  • Protect your savings from market downturns through an Assured Benefit
  • Pay premium just once or for a limited period of 5 or 7 years.
  • Get rewarded with Loyalty Additions and Wealth Booster.
  • Get tax benefits2 on premiums paid and benefits received, as per prevailing tax laws

Benefits in detail

  • Death Benefit
    In the unfortunate event of death of the Life Assured during the term of the policy, provided the monies are not in the Discontinuance Policy (DP) fund, the following will be payable:
    Death Benefit = A or B or C whichever is highest
    Where,
    A = Sum Assured, including Top-up Sum Assured, if any
    B = Minimum Death Benefit
    C = Fund Value including the Top-up Fund Value, if any
    Minimum Death Benefit will be 105% of the total premiums paid.

    Maturity Benefit
    On maturity of the policy, you will receive A or B, whichever is higher. Where,
    A = Fund Value including Loyalty Additions and Wealth Booster
    B = Assured Benefit

    Assured benefit for the policy will be as follows:
    • In case of One Pay, 101% of the Single Premium
    • In case of Five Pay & Seven Pay, 101% of the sum of all premiums paid

    Assured Benefit is applicable only on maturity of the policy and does not apply on death or surrender

  • Loyalty Additions
    Loyalty Additions will be allocated as extra units at the end of every policy year, starting from the end of the sixth policy year, provided monies are not in DP Fund. Each Loyalty Addition will be equal to 0.25% of the average of the Fund Values on the last business day of the last eight policy quarters.
  • Wealth Booster
    A Wealth Booster will be allocated as extra units at the end of the policy term. Wealth Booster will be a percentage of the average of Fund on the last business day of the last eight policy quarters as shown in the table below.

    Premium Payment Option Wealth Booster
    One Pay 1.50%
    Five Pay and Seven Pay 3.25%

In a unit linked insurance plan, the investment risk in investment portfolio is borne by the Policyholder. Unit linked Insurance products do not offer any liquidity during the first five years of the contract. The Policyholder will not be able to surrender/withdraw the monies invested in unit linked insurance products completely or partially till the end of the fifth year.

  1. Life Coveris the benefit payable on the death of the life assured.
  2. Tax benefits2 under the policy are subject to conditions under Sections 80C, 10(10D), 115BAC and other provisions of the Income Tax Act, 1961. Goods and Services Tax and Cesses, if any will be charged extra as per applicable rates. Tax laws are subject to amendments from time to time. Please consult your tax advisor for more details.

Please refer sales brochure and policy document for more details.

The plan is not a guaranteed issuance plan and it will be subject to Company’s underwriting and acceptance. INDUSIND Bank Limited (CA Registration No:CA0001) is the Corporate Agent of ICICI Prudential Life Insurance Company Limited and does not underwrite the risk or act as an insurer. INDUSIND Bank Limited, 2401, Gen. Thimmayya Rd., (Cantonment), Pune – 411001. Participation by the Bank’s clients in the insurance products is purely on voluntary basis. Call us on: 1860 267 7777.

© ICICI Prudential Life Insurance Co. Ltd. All rights reserved. Registered with Insurance Regulatory & Development Authority of India (IRDAI) as Life Insurance Company. Regn. No. 105. CIN: L66010MH2000PLC127837. Reg. Off .: ICICI PruLife Towers, 1089 Appasaheb Marathe Marg, Prabhadevi, Mumbai 400025. Tel.: 40391600. Customer helpline number - 1860 266 7766. Timings – 10:00 A.M. to 7:00 P.M., Monday to Saturday (except national holidays). Member of the Life Insurance Council. For more details on the risk factors, term and conditions please read the product brochure carefully before concluding the sale. Trade Logo displayed above belongs to ICICI Bank Ltd & Prudential IP services Ltd and used by ICICI Prudential Life Insurance Company Ltd under license. ICICI Guranteed Wealth Protector UIN: 105L143V02 . ADVT. No.: W/II/0858/2023-24

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