What Is Investment Insurance?

Investment insurance is a financial product that combines the benefits of both insurance and investment. A ULIP can be considered an investment insurance plan. It secures your loved ones financially in case of an unfortunate event and at the same time, helps you grow your money.

Insurance investment plans can be ideal for all ages, throughout your earning years. An investment insurance plan is a single solution to help you achieve your long-term financial goals, such as purchasing a house, starting a business, a financially independent retirement, and more. It enables you to live stress-free and protect your family's needs.

Insurance and Investment

Insurance and investment are two important components of financial planning. They offer distinct benefits and cater to your financial needs. Here is how:

Insurance provides you with a life cover that secures your loved ones financially in case of any unfortunate event. It provides your loved ones with a fixed amount of money in such a situation.

Investment helps you earn returns on your money by investing in market-linked instruments. Your money gets invested in equity and debt markets and offers you with returns. These returns can help you meet your financial goals.

Investment insurance offers the benefits of both insurance (through a life cover) and investment (market-linked returns). It offers an assured life cover amount in the case of an unfortunate event and, at the same time, helps you grow your money and generate returns for your financial goals.

Benefits of Investment Insurance

Funds for Emergencies and Leisure, both

Investment insurance plans give you a life cover that secures your loved ones in case of an unfortunate event. In addition, the returns from the plan can be used to fulfil your financial needs and goals. You can use the money to buy a house, travel, pay your child’s education fees, and more. You can also set it aside as an emergency fund to be used in case of any unplanned expenses. These funds can be withdrawn at any time after the first five years of the plan.

Systematic Withdrawals^{^}

Some investment insurance plans offer the option to get regular payouts. You can opt for systematic withdrawals and create a regular source of income for yourself.

Tax Benefits

As these plans have a life insurance component, they qualify for tax benefits under The Income Tax Act, 1961. You can claim a deduction of up to ₹ 1.5 lakh on the premiums paid under the policy subject to conditions under Section 80C of the Income Tax Act, 1961. The payouts you receive from the plan are also tax-free subject to the conditions under Section 10(10D).

Investment insurance plans offered by ICICI Pru Life

ICICI Pru Signature:

This plan invests your money in market-linked instruments. You may choose to invest in high-performing equity funds, low-risk debt funds, or balanced funds, as per your risk appetite. You can also switch between the funds as many times as you want without any extra cost. The plan offers four portfolio strategies that help you manage your money as per your requirements.

ICICI Pru Signature offers you the flexibility to choose the premiums you want to pay as per your convenience. You can choose to pay the premiums monthly, half-yearly, yearly, or all at once. The plan also gives you the flexibility to increase your investment in the plan any time during the policy term using the top-up feature.

In addition, ICICI Pru Signature offers a life cover throughout your policy term. This ensures that your loved ones are financially secured, no matter what!

The plan also offers tax^* benefits as per The Income Tax Act, 1961.

ICICI Pru Protect N Gain:

This plan also helps you invest your money in market-linked instruments. You may choose to invest in high-performing equity funds, low-risk debt funds, or balanced funds, as per your risk appetite. You can also switch between the funds as many times as you want without any extra cost. The plan offers four portfolio strategies that help you manage your money as per your requirements.

With ICICI Pru Protect N Gain, you can choose the amount of life cover you want from the plan. Your premiums are calculated basis the life cover amount that you choose. You can choose to pay the premiums monthly, half-yearly or yearly, as per your convenience. The plan also gives you the flexibility to increase your investment in the plan any time during the policy term using the top-up feature. The Systematic Withdrawal^ Plan feature allows you to withdraw a pre-determined percentage of your fund value regularly. This can help you to meet specific needs such as your child’s education or money for day-to-day expenses during retirement.

The plan also offers tax^* benefits as per The Income Tax Act, 1961.

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