february 2011 this material is strictly meant for circulation within the organization/ solely for...
TRANSCRIPT
February 2011
This material is strictly meant for circulation within the organization/ solely for training and/or education of the employees of ICICI Prudential Life Insurance Co. Ltd. or its advisors, corporate agents or brokers and should not be further circulated or used for presentation to a prospect or general public at large.
This material is strictly meant for circulation within the organization/ solely for training and/or education of the employees of ICICI Prudential Life Insurance Co. Ltd. or its advisors, corporate agents or brokers and should not be further circulated or used for presentation to a prospect or general public at large.
We are always curious to know more about …
How long will I live?
Will my daughter become a doctor or a banker?
When will my son get married?
Will I be able to purchase my dream house?
OUR FUTUREOUR FUTURE
This material is strictly meant for circulation within the organization/ solely for training and/or education of the employees of ICICI Prudential Life Insurance Co. Ltd. or its advisors, corporate agents or brokers and should not be further circulated or used for presentation to a prospect or general public at large.
BECAUSE
Your goals may remain unfulfilled
Unexpected expenses
may eat into your savings
You may or may not be there for your family
The Future is …Uncertai
nUncertai
n Unknown
Unknown
Unpredictable
Unpredictable
This material is strictly meant for circulation within the organization/ solely for training and/or education of the employees of ICICI Prudential Life Insurance Co. Ltd. or its advisors, corporate agents or brokers and should not be further circulated or used for presentation to a prospect or general public at large.
But what if you could …
…do away with the uncertainty?
…protect your savings against unforeseen events?
…secure your goals in the future?
This material is strictly meant for circulation within the organization/ solely for training and/or education of the employees of ICICI Prudential Life Insurance Co. Ltd. or its advisors, corporate agents or brokers and should not be further circulated or used for presentation to a prospect or general public at large.
Introducing…
A goal based savings solution which secures your future goals …
•Achieve your goals with lumpsum maturity benefit
•Grow your savings with regular bonus additions
•Safeguard against unforeseen events with life cover
A goal based savings solution which secures your future goals …
•Achieve your goals with lumpsum maturity benefit
•Grow your savings with regular bonus additions
•Safeguard against unforeseen events with life cover
This material is strictly meant for circulation within the organization/ solely for training and/or education of the employees of ICICI Prudential Life Insurance Co. Ltd. or its advisors, corporate agents or brokers and should not be further circulated or used for presentation to a prospect or general public at large.
ICICI Pru Future Secure
30 yrs
50 yrs
Your savings increase with annual reversionary bonuses
Your savings increase with annual reversionary bonuses
Invest regularly in ICICI Pru Future Secure during your chosen policy term
Invest regularly in ICICI Pru Future Secure during your chosen policy term
Unfortunate death during the term
Unfortunate death during the term
SA + accrued reversionary bonuses + Terminal
Bonus
SA + accrued reversionary bonuses + Terminal
Bonus
SA + accrued reversionary bonuses
+ Terminal Bonus
SA + accrued reversionary bonuses
+ Terminal Bonus
At the end of savings period
At the end of savings period
Achieve your goals!
Achieve your goals!
This material is strictly meant for circulation within the organization/ solely for training and/or education of the employees of ICICI Prudential Life Insurance Co. Ltd. or its advisors, corporate agents or brokers and should not be further circulated or used for presentation to a prospect or general public at large.
Key Benefits
Maturity Benefit
Maturity Benefit
Sum Assured plus vested reversionary bonuses and terminal bonus, if any
Sum Assured plus vested reversionary bonuses and terminal bonus, if any
RidersRiders Accident and Disability Benefit Rider, Critical Illness Rider and Income Benefit Rider
Accident and Disability Benefit Rider, Critical Illness Rider and Income Benefit Rider
Death BenefitDeath Benefit Sum Assured plus vested reversionary bonuses and terminal bonus, if any
Sum Assured plus vested reversionary bonuses and terminal bonus, if any
Tax benefits
Tax benefits
Get tax benefits under Section 80C & 10 (10D) of Income Tax Act, 1961
Get tax benefits under Section 80C & 10 (10D) of Income Tax Act, 1961
This material is strictly meant for circulation within the organization/ solely for training and/or education of the employees of ICICI Prudential Life Insurance Co. Ltd. or its advisors, corporate agents or brokers and should not be further circulated or used for presentation to a prospect or general public at large.
Key Benefits
Maturity Benefit
Sum Assured plus vested reversionary bonuses and terminal bonus, if any
RidersRiders Accident and Disability Benefit Rider, Critical Illness Rider and Income Benefit Rider
Accident and Disability Benefit Rider, Critical Illness Rider and Income Benefit Rider
Death BenefitDeath Benefit Sum Assured plus vested reversionary bonuses and terminal bonus, if any
Sum Assured plus vested reversionary bonuses and terminal bonus, if any
Tax benefits
Tax benefits
Get tax benefits under Section 80C & 10 (10D) of Income Tax Act, 1961
Get tax benefits under Section 80C & 10 (10D) of Income Tax Act, 1961
This material is strictly meant for circulation within the organization/ solely for training and/or education of the employees of ICICI Prudential Life Insurance Co. Ltd. or its advisors, corporate agents or brokers and should not be further circulated or used for presentation to a prospect or general public at large.
Maturity Benefit
30 yrs
35 yrs
40 yrs
45 yrs
50 yrs
Pay regularly for a fixed termPay regularly for a fixed term
Annual reversionary bonus additions increase your maturity benefit
Annual reversionary bonus additions increase your maturity benefit
Sum Assured + Accrued Reversionary Bonuses +
Terminal Bonus
Sum Assured + Accrued Reversionary Bonuses +
Terminal Bonus
On maturity
ACHIEVE YOUR GOALS!!!
This material is strictly meant for circulation within the organization/ solely for training and/or education of the employees of ICICI Prudential Life Insurance Co. Ltd. or its advisors, corporate agents or brokers and should not be further circulated or used for presentation to a prospect or general public at large.
Maturity Benefit
Helps you build a savings kitty to meet your goals at the end of the term
Declared as a % of SA at end of every policy year and added to the SA
Bonus once declared is guaranteed
Declared as a % of SA at end of every policy year and added to the SA
Bonus once declared is guaranteed
Reversionary bonus
Reversionary bonus
Payable on death or at the end of PPTTerminal bonus is not guaranteed
Payable on death or at the end of PPTTerminal bonus is not guaranteedTerminal bonusTerminal bonus
Sum Assured (SA)
Sum Assured (SA)
Accrued Reversionary
bonus
Accrued Reversionary
bonusTerminal bonusTerminal bonus
*The rate of the bonus will depend upon the performance of the participating fund
This material is strictly meant for circulation within the organization/ solely for training and/or education of the employees of ICICI Prudential Life Insurance Co. Ltd. or its advisors, corporate agents or brokers and should not be further circulated or used for presentation to a prospect or general public at large.
How is the reversionary bonus calculated? It will be calculated basis simple interest method
Example: For a 35 year old, male, for SA of Rs. 1 lac, premium paying term of 10 years, annual premium is Rs. 13,443,assuming bonus rates of 4% every year,
YearSum
Assured (Rs)
Bonus amount (Rs) for the
year
Sum Assured including bonus additions
Year 1 1,00,000 4,000 1,04,000
Year 2 1,00,000 4,000 1,08,000
Year 3 1,00,000 4,000 1,12,000
Year 4 1,00,000 4,000 1,16,000
Year 5 1,00,000 4,000 1,20,000
Year 10
1,00,000 4,000 1,40,000
This material is strictly meant for circulation within the organization/ solely for training and/or education of the employees of ICICI Prudential Life Insurance Co. Ltd. or its advisors, corporate agents or brokers and should not be further circulated or used for presentation to a prospect or general public at large.
Key Benefits
Maturity Benefit
Maturity Benefit
Sum Assured plus vested reversionary bonuses and terminal bonus, if any
Sum Assured plus vested reversionary bonuses and terminal bonus, if any
RidersRiders Accident and Disability Benefit Rider, Critical Illness Rider and Income Benefit Rider
Accident and Disability Benefit Rider, Critical Illness Rider and Income Benefit Rider
Death Benefit Sum Assured plus vested reversionary bonuses and terminal bonus, if any
Tax benefits
Tax benefits
Get tax benefits under Section 80C & 10 (10D) of Income Tax Act, 1961
Get tax benefits under Section 80C & 10 (10D) of Income Tax Act, 1961
This material is strictly meant for circulation within the organization/ solely for training and/or education of the employees of ICICI Prudential Life Insurance Co. Ltd. or its advisors, corporate agents or brokers and should not be further circulated or used for presentation to a prospect or general public at large.
Death Benefit
30 yrs
35 yrs
40 yrs
45 yrs
50 yrs
In case of unfortunate demise during the policy term
In case of unfortunate demise during the policy term
Nominee gets Sum Assured + Accrued Reversionary
Bonuses + Terminal Bonus
Nominee gets Sum Assured + Accrued Reversionary
Bonuses + Terminal Bonus
To help your family achieve the GOALS!!!
This material is strictly meant for circulation within the organization/ solely for training and/or education of the employees of ICICI Prudential Life Insurance Co. Ltd. or its advisors, corporate agents or brokers and should not be further circulated or used for presentation to a prospect or general public at large.
Key Benefits
Maturity Benefit
Maturity Benefit
Sum Assured plus vested reversionary bonuses and terminal bonus, if any
Sum Assured plus vested reversionary bonuses and terminal bonus, if any
RidersAccident and Disability Benefit Rider, Critical Illness Rider and Income Benefit Rider
Death BenefitDeath Benefit Sum Assured plus vested reversionary bonuses and terminal bonus, if any
Sum Assured plus vested reversionary bonuses and terminal bonus, if any
Tax benefits
Tax benefits
Get tax benefits under Section 80C & 10 (10D) of Income Tax Act, 1961
Get tax benefits under Section 80C & 10 (10D) of Income Tax Act, 1961
This material is strictly meant for circulation within the organization/ solely for training and/or education of the employees of ICICI Prudential Life Insurance Co. Ltd. or its advisors, corporate agents or brokers and should not be further circulated or used for presentation to a prospect or general public at large.
Enhanced protection with riders
Critical illness rider
(Accelerated)
Critical illness rider
(Accelerated)
Protection against 9 critical illnesses Rider SA is equal to base policy SA Policy terminates after rider payout SA is payable only on survival for 28
days post the diagnosis of a critical illness
Protection against 9 critical illnesses Rider SA is equal to base policy SA Policy terminates after rider payout SA is payable only on survival for 28
days post the diagnosis of a critical illness
Accidental & Disability Benefit
Rider
Accidental & Disability Benefit
Rider
On death due to an accident rider SA payable
Twice the SA will be payable, in case of accidental death while traveling by mass transport
In case of total and permanent disability due to an accident, 10% of the rider SA is paid out every year for 10 years
On death due to an accident rider SA payable
Twice the SA will be payable, in case of accidental death while traveling by mass transport
In case of total and permanent disability due to an accident, 10% of the rider SA is paid out every year for 10 years
Income Benefit Rider
Income Benefit Rider
On death, 10% of the rider SA will be paid out every year for the remaining years of policy
On death, 10% of the rider SA will be paid out every year for the remaining years of policy
This material is strictly meant for circulation within the organization/ solely for training and/or education of the employees of ICICI Prudential Life Insurance Co. Ltd. or its advisors, corporate agents or brokers and should not be further circulated or used for presentation to a prospect or general public at large.
Key Benefits
Maturity Benefit
Maturity Benefit
Sum Assured plus vested reversionary bonuses and terminal bonus, if any
Sum Assured plus vested reversionary bonuses and terminal bonus, if any
RidersRiders Accident and Disability Benefit Rider, Critical Illness Rider and Income Benefit Rider
Accident and Disability Benefit Rider, Critical Illness Rider and Income Benefit Rider
Death BenefitDeath Benefit Sum Assured plus vested reversionary bonuses and terminal bonus, if any
Sum Assured plus vested reversionary bonuses and terminal bonus, if any
Tax benefits
Get tax benefits under Section 80C & 10 (10D) of Income Tax Act, 1961
This material is strictly meant for circulation within the organization/ solely for training and/or education of the employees of ICICI Prudential Life Insurance Co. Ltd. or its advisors, corporate agents or brokers and should not be further circulated or used for presentation to a prospect or general public at large.
Tax Benefits
On premiums paidOn premiums paid Tax savings under Section 80 (C) of Income Tax Act, 1961
Tax savings under Section 80 (C) of Income Tax Act, 1961
On policy payoutsOn policy payouts Tax free under Section 10 (10D) of Income Tax Act, 1961
Tax free under Section 10 (10D) of Income Tax Act, 1961
This material is strictly meant for circulation within the organization/ solely for training and/or education of the employees of ICICI Prudential Life Insurance Co. Ltd. or its advisors, corporate agents or brokers and should not be further circulated or used for presentation to a prospect or general public at large.
Large Sum Assured discount
Large Sum Assured discounts on the premium*
Sum Assured (Rs.) Rebate per thousand SA
Less than 2 lac Nil
2 lac to less than 3 lac 3.5
3 lac to less than 5 lac 4.7
5 lac to less than 10 lac 5.7
Greater than or equal to 10 lac
6.4
*excluding extra premium and premiums paid towards rider benefits, if any
This material is strictly meant for circulation within the organization/ solely for training and/or education of the employees of ICICI Prudential Life Insurance Co. Ltd. or its advisors, corporate agents or brokers and should not be further circulated or used for presentation to a prospect or general public at large.
Modal loading
For premium paying frequency other than yearly, a modal loading will be levied on the premium including any extra premium
Mode % of premium
Monthly 4.5%
Half yearly 2.5%
Yearly Nil
This material is strictly meant for circulation within the organization/ solely for training and/or education of the employees of ICICI Prudential Life Insurance Co. Ltd. or its advisors, corporate agents or brokers and should not be further circulated or used for presentation to a prospect or general public at large.
Boundary conditions
Min/ Max age at entry* 0 / 60 years
Min /Max maturity age* 18 / 70 years
Min /Max policy term 10/ 30 years
Min Sum Assured Rs. 1,00,000
Modes of Premium Payment
Yearly, Half yearly or Monthly
*Age completed birthday
This material is strictly meant for circulation within the organization/ solely for training and/or education of the employees of ICICI Prudential Life Insurance Co. Ltd. or its advisors, corporate agents or brokers and should not be further circulated or used for presentation to a prospect or general public at large.
Loan against the policy
Loan can be availed after the completion of three policy years provided premiums have been paid for the first three policy years and the policy has attained a Surrender Value
Loan of up to 80% of the Surrender Value can be availed
This material is strictly meant for circulation within the organization/ solely for training and/or education of the employees of ICICI Prudential Life Insurance Co. Ltd. or its advisors, corporate agents or brokers and should not be further circulated or used for presentation to a prospect or general public at large.
Surrender Value
The policy will acquire a Guaranteed Surrender Value (GSV) on payment of premium for at least 3 policy years.
It will be equal to 35% of the base policy premiums paid less the first year's premium. A discounted value of the bonuses allocated will also be added.
The Non Guaranteed Surrender Value (NGSV) Surrender Value payable will depend on Sum Assured, vested reversionary bonus, policy term and the number of premiums paid.
Higher of GSV or NGSV would be payable
Any extra premiums paid and premiums paid towards riders shall be excluded.
This material is strictly meant for circulation within the organization/ solely for training and/or education of the employees of ICICI Prudential Life Insurance Co. Ltd. or its advisors, corporate agents or brokers and should not be further circulated or used for presentation to a prospect or general public at large.
Paid up policy
Once the policy has acquired a Surrender Value and no future premiums are paid, the policy may continue as a 'Paid-up' policy for a reduced Sum Assured (Paid-up Sum Assured), as indicated below:
Paid-up SA = SA X (Total number of premiums paid / Total number of premiums payable)
Bonuses already vested to the policy will be added to this amount.
The policy will however not be eligible for any future bonuses.
The rider benefits will cease to be payable in case of a paid-up policy.
This material is strictly meant for circulation within the organization/ solely for training and/or education of the employees of ICICI Prudential Life Insurance Co. Ltd. or its advisors, corporate agents or brokers and should not be further circulated or used for presentation to a prospect or general public at large.
Lapsation and policy revival
Failure to pay premiums for the first 3 years would result in the policy becoming lapsed. No benefits would be payable under a lapsed policy.
A lapsed policy may be revived subject to the following: Allowed within 2 years from the due date of the
first unpaid premium and before the end of the PPT
Revival will be based on the revival norms then applicable
The Policyholder furnishes, at his own expense, satisfactory evidence of health of the Life Assured, as required by the Company
The arrears of premiums together with interest, at such rate as the Company may declare from time to time, for late payment of premiums are paid
This material is strictly meant for circulation within the organization/ solely for training and/or education of the employees of ICICI Prudential Life Insurance Co. Ltd. or its advisors, corporate agents or brokers and should not be further circulated or used for presentation to a prospect or general public at large.
Thank you
This material is strictly meant for circulation within the organization/ solely for training and/or education of the employees of ICICI Prudential Life Insurance Co. Ltd. or its advisors, corporate agents or brokers and should not be further circulated or used for presentation to a prospect or general public at large.
Thank you