ICICI PRU

Wealth Builder II

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ICICI Pru Wealth Builder II : A Unit Linked Insurance Plan

This is a unit linked insurance plan. In this policy, 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.



A quick look

You have dreams for yourself and the ones you love. You need a financial plan that helps you to achieve these dreams while protecting them in adverse situations.


With this objective in mind, we present ICICI Pru Wealth Builder II - a savings and protection oriented unit linked insurance plan. This plan offers you multiple choices on how to invest while providing you with a life insurance cover to protect your family in case of your unfortunate demise.




SPECIMEN POLICY DOCUMENTS

ICICI Pru Wealth Builder II - one pay

ICICI Pru Wealth Builder II - regular pay

details

Minimum PremiumRs. 48,000
Maximum PremiumUnlimited
Modes of Premium PaymentSingle
Premium Payment TermSingle Premium
Policy Term10 years
Sum Assured
Age at entry Minimum Sum Assured Maximum Sum Assured
0 to 33 years 1.25 X Single Premium 10 X Single Premium
34 years and above 1.25 X Single Premium 1.25 X Single Premium
Note: Sum Assured multiples in between the maximum and minimum limits are not available in One Pay option.
Min age at entry0 years
Max age at entry69 years
Min age at maturity18 years
Max age at maturity79 years
Tax Benefits
Premium and any benefit amount received under this policy will be eligible for tax benefit as per the prevailing Income Tax laws.

UIN of the ICICI Pru Wealth Builder II : 105L139V01


Key benefits of ICICI Pru Wealth Builder II

  • Choice of portfolio strategies: Choose a personalized portfolio strategy from
    • Fixed Portfolio Strategy : Option to allocate your savings in the funds of your choice .
    • LifeCycle based Portfolio Strategy : A unique and personalized strategy to create an ideal balance between equity and debt, based on your age.
  • Flexibility of premium payment : Pay premiums for a limited period or for the entire policy term.
  • Multiple fund options : Invest in the funds of your choice from a diverse suite of 7 funds.
  • Loyalty benefits: Get rewarded with Loyalty Additions and Wealth Boosters on staying invested with us over the long term.
  • Choice of protection level: Choose the level of protection that suits your needs.
  • Tax benefits: on premiums paid and benefits received as per the prevailing tax laws.

Benefits in detail:

  • Death Benefit: In the unfortunate event of death of the Life Assured during the term of the policy,the following will be payable :
    • In case of One Pay policies, Death Benefit = A or B or C whichever is highest
      Where,
      A = Sum Assured including Top-up Sum Assured, if any (reduced by applicable partial withdrawals, if any)
      B = Fund Value including Top-up Fund Value, if any
      C = Minimum Death Benefit less applicable partial withdrawals, if any
    • In case of Limited Pay and Regular Pay policies,
      • For age at entry less than 50 years,
        Death Benefit = (A + B) or C whichever is higher
        Where,
        A = Sum Assured including Top-up Sum Assured, if any
        B = Fund Value including Top-up Fund Value, if any
        C = Minimum Death Benefit
      • For age at entry greater than or equal to 50 years,
        Death Benefit = A or B or C whichever is highest
        Where,
        A = Sum Assured including Top-up Sum Assured, if any (reduced by applicable partial withdrawals, if any)
        B = Fund Value including Top-up Fund Value, if any
        C = Minimum Death Benefit less applicable partial withdrawals, if any
      • Minimum Death Benefit will be 105% of the total premiums paid including Top-up premiums, if any.
        #Sum Assured is deemed to include the Top-up Sum Assured, if any.
  • Maturity Benefit:
    On maturity of the policy, you will receive the Fund Value including the Top-up Fund Value, if any.
    You will have an option to receive the Maturity Benefit as a lump sum or as a structured payout using Settlement Option.
  • 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 including Top-up Fund Value, if any, on the last day of the last business eight policy quarters. An additional Loyalty Addition of 0.25% is paid every year from the end of year 6 if all premiums for that year have been paid.The additional loyalty additions will also be calculated as described above.
  • Wealth Boosters
    • Wealth Boosters will be allocated as extra units at the end of every fifth policy year starting from the end of the tenth policy year, provided the monies are not in DP Fund. Each Wealth Booster will be a percentage of the average of Fund Values including Top-up Fund Value, if any, 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%
      Limited Pay and Regular Pay 3.25%

How does the plan work?

  1. Decide your premium amount and the premium payment option
  2. Select the Sum Assured as per your protection needs
  3. Choose one of the 2 available Portfolio Strategies
  4. On maturity of your policy, receive your maturity benefit as a lump sum or as a structured payout through settlement option to meet your financial goals
  5. In case of your unfortunate death during the policy term your family will get the death benefit

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