Along with the potential for higher returns, this plan also protects your money by offering capital guarantee on the money that you invest. On vesting, i.e. maturity, you will be entitled to the Assured Benefit* or Fund Value**, whichever is higher.
How much Assured Benefit* will I get?
In case your Fund Value** at maturity is less than the sum of premiums paid by you, the Assured Benefit* ensures that you receive 101% of all the sum of premiums paid by you and top ups, if any.
You can utilise this benefit amount only as per the available options. There are two options available with this plan:
You can commute up to one-third of the benefit amount available on the termination of the policy, or to the extent allowed under the Income Tax Act. The balance amount can be used to purchase an immediate annuity plan offered by ICICI Prudential
Purchase a single premium deferred pension product offered by ICICI Prudential with the entire amount.
Alternatively, you can choose to postpone your vesting or maturity date. This means you can change the date from which you want your regular income to start. You can postpone the vesting date as many times as you want, provided your age is below 55.
As a result, your money is protected as the company returns your invested money regardless of market ups and downs.
For example, if you invest ₹ 1,00,000 every year for 5 years, the company guarantees to return a minimum sum of ₹ 5,05,000.
*The Assured Benefit amount shown assumes all due premiums as per the premium payment term shown above are paid. On maturity, you will receive higher of Assured Benefit or fund value. Assured Benefit will be 101% of total premium paid which is applicable only on maturity of the policy and does not apply on death or surrender.
**Fund Value is the total value of the money invested.