ICICI Pru Gold Plan Online - IndusInd Bank

Overview

A protection and savings oriented participating life insurance plan that provides the protection of life cover1 along with a regular income for whole of life that can be used to meet your long-term recurring financial needs through participation in bonus.Ā 

Key Features

  • Protection through life cover1 with policy term up to 99 years of age
  • Ā·Income up to 99 years of age, with option to start receiving income immediately or after a few years as per your needs. This income will be a combination of Guaranteed2 Income and income linked to bonus# declaration
  • Option to accumulate/withdraw3 income any time or adjust++ future premiums from the income thus accumulated
  • Option to get Guaranteed2 boosters after every 5 years to boost your savings with Immediate Income with Booster plan variant
  • Tax4 benefits may be applicable on premiums paid and benefits received as per prevailing tax laws

T&C Apply

Plan at a glance:

Plan Variants Premium Payment Term (PPT) (in years) Min/Max Policy Term (PT) (in years) Min/Max Age at Entry (in years) Min/Max Age at Maturity (in years) Min/Max Annualized Premium
Immediate Income 5 85/99 minus age at entry 0/50 85/99 ā‚¹50,000 p.a.*/ Subject to Board Approved Under-writing Policy
6 0/55
7 to 12 0/60
Immediate Income with Booster 6 0/50
7 0/55
8 to 12 0/60
Deferred Income 7 0/50
8 0/55
9 to 12 0/60

*Applicable Goods and Services Tax will be taken separately, as per applicable rates. The tax laws are subject to amendments from time to time

The minimum Basic Sum Assured on Death will correspond to the minimum annualized premium and vary by the Death Benefit multiple as per age of entry of the Life Assured. The maximum Basic Sum Assured on Death will be subject to board approved underwriting policy.
Premium Payment Frequency: Yearly, Half-Yearly, Monthly
Premium and Benefits will vary depending upon the plan variant chosen.

Ā 

How the plan works

  • Regular income: The life assured will receive a regular income at the end of every policy year/month, starting from the first policy year till the end of the policy term, provided the policy is in-force. This income will comprise of:
    • Guaranteed2 Income (GI) and
    • Income which will be linked to Bonus#, if declared; referred to as Cash Bonus# (CB) You will receive this income till the date of maturity, death, surrender or lapse of the policy, whichever happens first.
  • Lump sum on maturity:Ā On survival of the life assured till the end of the policy term for a fully paid policy, a Maturity Benefit will be payable which will be equal to the sum of:
    • Sum Assured on Maturity5Ā i.e., equal to sum of all Annualized Premiums payable), plus
    • Balance in Savings Wallet3 (if any), plus
    • Terminal Bonus# (if declared)

Illustration:

Mr. Animesh, a 35 year old, wants to save for his sonā€™s regular expenses. He decides to pay the premium of ā‚¹1,00,000 every year for 10 years and wants to receive a regular income every year for whole of life (Policy maturity age: 99 years).

Benefits payable Assumed at 4% p.a. Assumed at 8% p.a.
Guaranteed Income+ (GI) (A) ā‚¹12,500 ā‚¹12,500
Cash Bonus^ (CB, if declared) (B) ā‚¹8,750 ā‚¹24,500
Total Income (A + B) ā‚¹21,250 ā‚¹37,000
Sum Assured on Maturity+ Ā© ā‚¹10,00,000 ā‚¹10,00,000
Terminal Bonus^, if declared (D) ā‚¹25,98,954 ā‚¹1,24,85,830
Total Maturity Benefit (C+D) ā‚¹35,98,954 ā‚¹1,34,85,830

His goals will also be secured with a life insurance cover till the age of 99 years.

# GST applicable on premium will be charged extra as per prevailing tax laws.

+ Some benefits are guaranteed and some benefits are variable with returns based on future investment performance. The guaranteed benefits are clearly marked as ā€œguaranteedā€ in the illustration on this page.

^ For variable benefits, the illustrations on this page will show two different rates of assumed future investment returns. These assumed rates of return are not guaranteed and they are not the upper or lower limits of what you might get back.

  • Regular income and Guaranteed Booster: The life assured will receive a regular income at the end of every policy year/month, starting from the first policy year till the end of the policy term. Along with the regular income, you will also receive a benefit (known as Guaranteed Booster) every 5th policy year, provided the policy is in-force. This Guaranteed Booster will be equal to 100% of the Guaranteed2 Income, as applicable for the year of payment.

    To sum it up, you will receive the sum of:

    • Guaranteed2 Income (GI)
    • Guaranteed2 Booster (GB), and
    • Cash Bonus#, if declared (CB)

You will receive this income till the date of maturity, death, surrender or lapse of the policy, whichever happens first.

  • Lump sum on maturity: On survival of the life assured till the end of the policy term for a fully paid policy, a Maturity Benefit will be payable which will be equal to the sum of:
    • Sum Assured on Maturity6 (i.e. equal to sum of all Annualized Premiums payable), plus
    • Balance in Savings Wallet3 (if any), plus
    • Terminal Bonus# (if declared).

Illustration:

Letā€™s say Mr. Animesh from the previous example now pays# the premium of ā‚¹1,00,000 every year for 10 years and wants to receive a regular income for whole of life with Immediate Income with Booster plan variant (Policy maturity age: 99 years).

Benefits payable Assumed at 4% p.a. Assumed at 8% p.a.
Guaranteed Income+ (GI) (A) ā‚¹12,500 ā‚¹12,500
Cash Bonus^ (CB, if declared) (B) ā‚¹7,500 ā‚¹24,500
Total Income (A + B) ā‚¹20,000 ā‚¹37,000
Guaranteed Booster+Ā (GB) (C) ā‚¹12,500 ā‚¹12,500
Sum Assured on Maturity+ Ā© ā‚¹10,00,000 ā‚¹10,00,000
Terminal Bonus^, if declared (D) ā‚¹23,90,910 ā‚¹89,62,527
Total Maturity Benefit (C+D) ā‚¹33,90,910 ā‚¹99,62,527

His goals will also be secured with a life insurance cover till the age of 99 years.

# GST applicable on premium will be charged extra as per prevailing tax laws.

+ Some benefits are guaranteed and some benefits are variable with returns based on future investment performance. The guaranteed benefits are clearly marked as ā€œguaranteedā€ in the illustration on this page.

^ For variable benefits, the illustrations on this page will show two different rates of assumed future investment returns. These assumed rates of return are not guaranteed and they are not the upper or lower limits of what you might get back.

  • Regular income:Ā The life assured will receive a regular income in the form of 2 Guaranteed2 Income and Cash Bonus#, if declared, at the end of every policy year/ month, as chosen by you, provided the policy is in-force. You can choose to start receiving the income after a few years (known as the deferment period) instead of starting immediately, as per your income requirements. You can start this income as early as 2nd policy year policy year or as late as Premium Payment Term plus 1 year.

    To sum it up, you will receive the sum of:

    • Guaranteed2 Income (GI) and
    • Income which will be linked to Bonus, if declared; referred to as Cash Bonus# (CB) You will receive this income till the date of maturity, death, surrender or lapse of the policy, whichever happens first.
  • Lump sum on maturity:Ā On survival of the life assured till the end of the policy term for a fully paid policy, a Maturity Benefit will be payable which will be equal to the sum of:
    • Sum Assured on Maturity5 (i.e. equal to sum of all Annualized Premiums payable), plus
    • Balance in Savings Wallet3 (if any), plus
    • Terminal Bonus# (if declared)

Illustration:

Mr. Animesh, a 35-year-old, wants to save for his sonā€™s regular expenses. He decides to pay the premium of ā‚¹1,00,000 every year for 10 years and wants to receive a regular income every year for whole of life (Policy maturity age: 99 years).

Mr. Animesh pays# ā‚¹1,00,000 p.a. for 10 years = total of ā‚¹10,00,000

Benefits payable Assumed at 4% p.a. Assumed at 8% p.a.
Guaranteed Income+ (GI) (A) ā‚¹34,500 ā‚¹34,500
Cash Bonus^ (CB, if declared) (B) ā‚¹9,500 ā‚¹67,500
Total Income (A + B) ā‚¹44,000 ā‚¹1,02,000
Sum Assured on Maturity+ Ā© ā‚¹10,00,000 ā‚¹10,00,000
Terminal Bonus^, if declared (D) ā‚¹16,09,431 ā‚¹56,99,521
Total Maturity Benefit (C+D) ā‚¹26,09,431 ā‚¹66,99,521

His goals will also be secured with a life insurance cover till the age of 99 years.

# GST applicable on premium will be charged extra as per prevailing tax laws.

+ Some benefits are guaranteed and some benefits are variable with returns based on future investment performance. The guaranteed benefits are clearly marked as ā€œguaranteedā€ in the illustration on this page.

^ For variable benefits, the illustrations on this page will show two different rates of assumed future investment returns. These assumed rates of return are not guaranteed and they are not the upper or lower limits of what you might get back.

  1. Life cover is the benefit payable on death of the life assured during the policy term.
  2. In all plan options, guarantee is in the form of 'Guaranteed income' as regular income and 'Sum assured on maturity' as a part of Maturity Benefit. Additionally, in 'Immediate Income with booster' plan option, the 'Guaranteed booster' also forms a part of guaranteed benefits. Guaranteed returns are payable subject to all due premiums being paid and survival of the life assured.
  3. You have an option to accumulate the Survival Benefit, instead of taking the same as a periodic payment during the policy term. You need to opt in for this feature through explicit consent vide request submitted to Us, whereby the Survival Benefit when due will be transferred to the Savings Wallet. Upon crediting the Survival Benefit in the Savings Wallet on the due date, the Survival Benefit will be deemed to have been paid and any amount within the Savings Wallet will be non-participating in nature. This option can be opted for and opted out at any time during the Income Term. The money within the wallet will be accumulated daily at an interest rate linked to the Reverse Repo Rate published by Reserve Bank of India (RBI). The interest rate used for accumulation under this feature will be reviewed twice every year on 1st of June and 1st of December, and will be set equal to Reverse Repo Rate published on RBIā€™s website as on the review date. The current Reverse Repo Rate as at June 1, 2022 is 3.35% p.a. In case the balance in the wallet is not withdrawn completely during the income term, such balance will be paid to the claimant in the event of death, surrender or maturity, whichever is earlier along with other benefit payments (if any). On payment of this benefit, the policy will terminate, and all rights, benefits and interests under the policy will stand extinguished. Please refer to the sales brochure for more details.
  4. Tax Benefits: 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

    #Bonuses: Bonuses will be applied through the simple bonus method. Cash Bonuses may be declared annually throughout the policy term for all three variants, and will be expressed as a proportion of the Annualized Premium. For a new policy sold with Date of Commencement of Risk on or after April 1 in any financial year, there may not be any Cash Bonus rate declared for such policies when the Survival Benefit becomes due to be paid. In such circumstances, the Company will pay a fixed cash income benefit in lieu of Cash Bonus. This fixed cash income benefit will be based on a non-participating Cash Income rate (declared by the Company annually in advance and same as the cash bonus rate declared) and once declared shall remain guaranteed to be paid as part of Survival Benefit as and when it is due. Such payments in the form of fixed benefit shall continue till a Cash Bonus rate (as applicable for the policy) is declared and the Cash Bonus benefit, if declared, becomes payable at the next benefit due date.

    A separate Terminal Bonus may be declared under each variant, and will be payable on death, surrender and maturity, respectively, for a premium paying or a fully paid policy. Please refer to the sales brochure for more details.

  5. For all plan options, Maturity Benefit will be sum of
    1. Sum Assured on Maturity, plus
    2. Balance in the Savings Wallet (if any), plus
    3. Terminal Bonus (if declared)
    4. The Sum Assured on Maturity shall be the sum of Annualized Premium payable under the policy.
  6. Save the date: You can choose to receive the Survival Benefits on any one ā€˜Special Dateā€™ during the policy year prior to the policy anniversary, as per your choice and the benefit will be paid on this chosen date every year through the income term till policy termination. This option to receive Survival Benefit on any one ā€˜Special Dateā€™ can be availed by both in-force as well as paid-up policies. Please refer to the sales brochure for more details.

    In case you opt for a Special Date other than the policy anniversary, the Survival Benefit payable each year would be adjusted by multiplying the amount with the following Save the Date factors, varying by the policy month in which the Special Date.

    Save The Date factors
    Policy Month Factor Policy Month Factor Policy Month Factor
    1 92% 5 94% 9 97%
    2 93% 6 95% 10 98%
    3 93% 7 96% 11 98%
    4 94% 8 96% 12 99%

    In case you have selected the ā€œImmediate Income with Boosterā€ plan variant at inception where you will receive Guaranteed Booster (GB) benefit as part of the Survival Benefit, then the same shall be paid (adjusted as above) on the Special date in the policy year when it is due. Please refer to the sales brochure for more details.

For further details on product features such as surrender, paid-up and revival, please refer to the sales brochure and policy documents.

++ You have the option to utilize the balance in the Savings Wallet to offset any premiums due to be paid during the premium payment term. The same has to be provided to Us as a request prior to the premium due date. Upon receipt of such request and confirmation of the same, We shall automatically deduct the authorized amount on the premium due date from the Savings Wallet. If the amount available for offset is not sufficient to adjust the due premium, the balance due premium shall remain payable by You as on the premium due date. We shall recognize the settlement of due premium only after receipt of the same in full. Please refer to the sales brochure for more details.Ā© 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. O .: ICICI PruLife Towers, 1089 Appasaheb Marathe Marg, Prabhadevi, Mumbai 400025. Tel.: 40391600. Customer helpline number - 1860 266 7766. Timings ā€“ 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 Pru Gold UIN:105N190V01 . Advt. No.: W/II/0326/2023-24.

The plan is not a guaranteed issuance plan and it will be subject to Companyā€™s underwriting and acceptance. INDUSIND Bank Limited (CA Registration no:CA 0001) 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 ā€“ 411001. Participation by the Bankā€™s clients in the insurance products is purely on voluntary basis. Call us on: 1860 267 7777.

FD Rate FD Rate
FD Rate
Regular Fixed Deposit

up to 7.99% interest p.a

Senior Citizen

up to 8.49% interest p.a

BOOK FD