Overview
ICICI Pru GIFT Select offers – a life insurance savings product designed to support your goals every step of the way, A life insurance plan which provides you a life cover1 along with the unique Instant CashBack Benefit3 - giving you the advantage of enjoying your policy benefits without delay
ICICI Pru GIFT Select is a life insurance plan1 designed to secure your financial future with guaranteed benefits2
Product Overview
Key Benefits:
- Leave behind a legacy with the safety of a life insurance cover1
- Secure an income stream with guaranteed payouts starting as early as first policy month
- Get rewarded instantly with an 3Instant Cashback benefit, paid out upon policy issuance
- Protect your savings against inflation with the option to receive guaranteed income2Â that increases every year
- Boost your savings with the option to enhance your guaranteed income2 by choosing a lower life cover4
- Enjoy cashflow flexibilities such as accumulating income5
- Optimise your tax savings as 7tax benefits may be applicable on premiums paid and benefits received as per the prevailing tax laws
Other Benefits:
- Flexi Save option4: Option to postpone and accumulate income(s)
- 5Change of frequency of premium payment:: Customise premium payments and policy terms to suit your needs Â
2 T&C
6Instant cashback available only with annual premium frequency
Plan at a glance
| S No | Premium Payment Term (in years) | Policy Term (in years) | Income Term (in years) | Minimum/ Maximum Age at Entry (in years) | Minimum/ Maximum Age at Entry (in years) |
|---|---|---|---|---|---|
| Â | 2-6 | 20 to 40 | Minimum: 1 year Maximum: Equal to policy term |
O/ 55years | 18/ 85 years |
| Â | 7 | 17 to 40 | |||
| Â | 8 | 18 to 40 | |||
| Â | 9 | 19 to 40 | |||
| Â | 10-15 | 20 to 40 |
- Minimum Annual Premium:
| Premium Payment Term | Minimum Annualized Premium |
|---|---|
2 |
â‚ą 5,00,000 |
3, 4 |
â‚ą 2,00,000 |
5, 6 |
â‚ą 1,00,000 |
7 and above |
â‚ą 50,000 |
- Maximum Annual Premium: Subject to Board Approved Underwriting Policy (BAUP)
- Premium Payment Frequency: Annual, Half-Yearly, Monthly
- Minimum Sum Assured on Death:
The absolute minimum Sum Assured on Death is as below
| Premium Payment Term | Minimum Sum Assured |
|---|---|
2 |
â‚ą 35,00,000 |
3, 4 |
â‚ą 14,00,000 |
5, 6 |
â‚ą 7,00,000 |
7 and above |
â‚ą 3,50,000 |
- Maximum Sum Assured on Death: Subject to Board Approved Underwriting Policy (BAUP) Goods and Services Tax are applicable on premiums as per the prevailing Tax Laws. The tax laws are subject to amendments from time to time.
Disclaimer
- 1Life Insurance Cover is the benefit payable on death of the Life Assured during the policy term.
- 2Guaranteed Benefits will be payable subject to all due premiums being paid. Guaranteed income will start based on the income start year chosen by you. In case policyholder has not opted for Instant CashBack Feature, income can start from first year.
- 3Instant CashBack Benefit amount is paid within one working day of realisation of the first year's premium by the company post issuance of the policy.
- 4Flexi Save Option provides an option to the policyholder to accumulate the accrued Guaranteed Income benefit with the company instead of receipt in cash. The balance of such unpaid Guaranteed Income benefit payouts will be accumulated with daily accrual of a loyalty addition at the Reverse Repo Rate published by Reserve Bank of India (RBI).
- 5Change of frequency of premium payment: You have the flexibility to change the frequency of premium payment on policy anniversary.
- 6Policyholder can select yearly, half-yearly or monthly premium payment frequency under this policy. The Instant CashBack Benefit is available only to policies where the policyholder chooses to pay premiums with yearly premium payment frequency.
- 7Policies issued on or after April 01, 2023, where aggregate premium payable during the term of the policy in respect of Non-unit linked life insurance policies more than Rs 5 lakh per year is not exempt u/s 10(10D). Tax benefits/Tax-free returns 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.
ICICI Prudential Life Insurance Company Limited. Registered Office: ICICI Prudential Life Insurance Company Limited, ICICI PruLife Towers, 1089, Appasaheb Marathe Marg, Prabhadevi, Mumbai - 400 025. This product brochure is indicative of the terms, conditions, warranties, and exceptions contained in the insurance policy. For further details, please refer to the policy document. In the event of conflict, if any, between the contents of this brochure and those contained in the policy document, the terms and conditions contained in the policy document shall prevail. ICICI Pru GIFT Select, UIN: 105N223V02. Advt. No.: W/II/0236/2025-26
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