This plan is similar to the ICICI Pru Lakshya Wealth plan but with longer investment options and more benefits. It offers liquidity during the policy term to help you in case of financial emergencies. This plan has come up with tax exemption benefits as per the existing income tax laws of India.
Key Highlights:
If the life assured dies during the policy term of an active policy, the family will receive the death benefit, whichever is higher of any of the – Sum assured on death plus bonuses or 105% of Total Premiums paid as on the date of death.
On receipt of all due premiums and on survival till maturity, the life assured is entitled to receive the maturity benefit, which is Sum Assured on Maturity + Terminal bonus, if declared.
Under this plan, one can avail of the survival benefit and can also revive the policy even if he/she fails to pay the premium within the prescribed grace period.
Eligibility Criteria:
Parameters
Descriptions
Entry age
Minimum – 0 years, Maximum – 55, 53, and 50 years
Minimum annual premium
Rs. 30,000
Premium payment option
Limited pay
Premium payment term
10, 12, and 15 years
Income start days (policy anniversary)
15, 17, and 20 years
Policy term
99 minus entry age
Sum assured on death
Higher of (10 times Annualised Premium or PPT X Annualised Premium)
Premium payment mode
Annual, half-yearly, and monthly
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