Why is ICICI Pru Future Perfect Endowment Plan special?

ICICI Pru Future Perfect grows your wealth with the promise of protecting your money. This is done through two guaranteed features in the plan called Guaranteed Additions (GA) and Guaranteed Maturity Benefit (GMB). At the end of the policy term, you receive a sum that includes Guaranteed Maturity Benefit (GMB), Guaranteed additions (GA) and additional bonuses declared by the company, if any. Guaranteed benefits are payable subject to all due premiums being paid and the policy being in force on the date of maturity.

What are Guaranteed Additions?

Guaranteed Additions (GAs) are additional benefit that will be added throughout the policy term, if all premiums due till that year are paid. GAs as a percentage of annualized premium is set out in the following table:

Policy year/PPT 5 years or 7 years 10 years, 15 years or 20 years
1 - 5 8% 10%
6 - 10 10% 12%
11 - 15 12% 15%
16 onwards 15% 18%

During Premium Paying Term(PPT) GA will accrue on premium payment* and after PPT, GA will accrue at the beginning of policy year.

* In case of monthly premium frequency, 1/12th; times GA will be accrued every month on premium payment. For half yearly premium frequency, 0.5 times GA will be accrued on premium payment.

What is Guaranteed Maturity Benefit?

Guaranteed Maturity Benefit (GMB) is the guaranteed lump sum payable at the end of the policy term. Your GMB will be set at policy inception and will depend on age, policy term, premium amount, premium payment term and gender. Your GMB may be lower than your Sum Assured on death.

ICICI Pru Future Perfect provides you and your family all-round protection. In case of an unfortunate event during the policy term, your family receives a lump sum amount. This amount ensures that even in your absence, your loved ones are able to live the life you planned for them.

How much money will my family receive in my absence?

Your family will receive the higher of:

  • A fixed Sum Assured including Guaranteed Additions and Bonuses*

  • Guaranteed Maturity Benefit including Guaranteed Additions and Bonuses*

  • Minimum Life Cover that is equal to 105% of sum of premiums paid till date **

*Consists of vested reversionary bonuses, interim bonus and terminal bonus, if any.
.
**Including extra Mortality Premiums and excluding taxes. The cost of providing a Life Cover under the policy is called Mortality Premium.

With this plan, you can reduce your taxable income by investing up to 1.5 lakh under Section 80C. This will help you save tax. The money you get on maturity or death is also completely tax-free*.

*Tax benefits under the policy are subject to conditions under Section 80C, 10(10D) and other provisions of the Income Tax Act, 1961. Applicable taxes will be charged extra as per prevailing rates. Tax laws are subject to amendments from time to time.

Product Snapshot

In our day to day lives, we strive towards achieving our goals: purchasing a flat, securing our children’s future needs, dream vacation in an exotic location and living peacefully after retirement. We bring you an ideal savings and protection oriented plan, ICICI Pru Future Perfect to help you fulfill these goals.

ICICI Pru Future Perfect gives you the dual assurances of guaranteed benefits and life cover, while complementing your investment corpus with bonuses that offers potentially higher returns. You have the flexibility to choose a premium payment option based on your needs.

How much premium can I pay?

You need to pay a minimum of `40,000 per year.

Can I pay the premiums yearly, half-yearly or monthly?

Yes, you can choose to pay your premiums yearly, half-yearly or monthly.

How long does the policy last?

The policy can continue from 10 to 15 years*.

At what age can I start this plan?

The minimum age of the Life Assured is 3 years and the maximum age should not be more than 45 years.

How old should I be when the plan reaches maturity?

The minimum age of the Life Assured at policy maturity should be 18 years. But, the maximum age should not exceed 60 years.

How much premium can I pay?

You need to pay a minimum of `18,000 per year.

Can I pay the premiums yearly, half-yearly or monthly?

Yes, you can choose to pay your premiums yearly, half-yearly or monthly.

How long does the policy last?

The policy can continue from 12 to 17 years*.

At what age can I start this plan?

The minimum age of the Life Assured is 1 year and the maximum age should not be more than 58 years.

How old should I be when the plan reaches maturity?

The minimum age of the Life Assured at policy maturity should be 18 years. But, the maximum age should not exceed 70 years.

How much premium can I pay?

You need to pay a minimum of `12,000 per year.

Can I pay the premiums yearly, half-yearly or monthly?

Yes, you can choose to pay your premiums yearly, half-yearly or monthly.

How long does the policy last?

The policy can continue from 15 to 20 years*.

At what age can I start this plan?

The minimum age of the Life Assured is 90 days and the maximum age should not be more than 55 years.

How old should I be when the plan reaches maturity?

The minimum age of the Life Assured at policy maturity should be 18 years. But, the maximum age should not exceed 70 years.

How much premium can I pay?

You need to pay a minimum of `9,600 per year.

Can I pay the premiums yearly, half-yearly or monthly?

You can choose to pay your premiums yearly, half-yearly or monthly.

How long does the policy last?

The policy can continue from 20 to 25 years*.

At what age can I start this plan?

The minimum age of the Life Assured is 90 days and the maximum age should not be more than 50 years.

How old should I be when the plan reaches maturity?

The minimum age of the Life Assured at policy maturity should be 18 years. But, the maximum age should not exceed 70 years.

How much premium can I pay?

You need to pay a minimum of ` 8,400 per year.

Can I pay the premiums yearly, half-yearly or monthly?

Yes, you can choose to pay your premiums yearly, half-yearly or monthly.

How long does the policy last?

The policy can continue from 25 to 30 years*.

At what age can I start this plan?

The minimum age of the Life Assured is 90 days and the maximum age should not be more than 45 years.

How old should I be when the plan reaches maturity?

The minimum age of the Life Assured at policy maturity should be 18 years. But, the maximum age should not exceed 70 years.

 

*Subject to maximum age at maturity boundary conditions.

#Your Guaranteed Maturity Benefit (GMB) will be set at policy inception and will depend on age, policy term, premium, premium payment term and gender. Your GMB may be lower than your Sum Assured on death. ICICI Pru Future Perfect UIN:105N153V01.

 

 

#ARR is Assumed rate of returns.

These illustrations are for a healthy male life assured. The guaranteed benefits under the policy are clearly marked as “guaranteed”. The reversionary bonuses and terminal bonuses are not guaranteed and are dependent on future performance. The benefits in the illustration given above are indicative and are shown at different rates of assumed future investment returns. The maturity benefit of your policy is dependent on a number of factors, including future performance.

 

The actual asset allocation of ICICI Pru Future Perfect product in Equity is 37.07% as on March 31, 2020. The equity portfolio is as follows:

NIC Industry Weight*
Manufacture of chemicals and chemical products 17.71%
Computer programming, consultancy and related activities 16.62%
Financial service activities, except insurance and pension funding 14.32%
Manufacture of coke and refined petroleum products 9.33%
Manufacture of food products 7.35%
Housing Industry 4.27%
Electricity, gas, steam and air conditioning supply 3.91%
Manufacture of tobacco products 3.54%
Manufacture of motor vehicles, trailers and semi-trailers 2.65%
Food and beverage service activities 2.50%
Telecommunications 2.20%
Manufacture of other non-metallic mineral products 2.19%
Manufacture of pharmaceuticals,medicinal chemical and botanical products 2.10%
Manufacture of electrical equipment 1.59%
Civil engineering 1.55%
Other manufacturing 1.35%
Manufacture of other transport equipment 1.10%
Retail trade, except of motor vehicles and motorcycles 1.06%
Manufacture of rubber and plastics products 1.05%
Manufacture of Basic Metals 0.92%
Mining of coal and lignite 0.60%
Manufacture of machinery and equipment n.e.c. 0.60%
Extraction of crude petroleum and natural gas 0.36%
Manufacture of textiles 0.34%
Insurance, reinsurance and pension funding, except compulsory social security 0.28%
Air transport 0.21%
Land transport and transport via pipelines 0.15%
Employment activities 0.11%
Broadcasting and programming activities 0.06%
Grand Total 100.00%
EQUITY SECURITY NAME Weight*
Reliance Industries Limited 8.22%
Tata Consultancy Services Limited 6.42%
HDFC Bank Limited 6.32%
Infosys Limited 6.29%
Hindustan Unilever Limited 5.94%
Nestle India Limited 4.41%
Housing Development Finance Corpn. 4.15%
Asian Paints Limited 4.11%
ITC Limited 3.54%
HCL Technologies Limited 2.49%
Bharti Airtel Limited 2.20%
Pidilite Industries Limited 2.13%
Kotak Mahindra bank Limited 1.96%
Dabur India Limited 1.86%
Maruti Suzuki India Limited 1.82%
Larsen & Tourbo Limited 1.55%
Jubilant Foodworks Limited 1.52%
Britannia Industries Limited 1.40%
Titan Company Limited. 1.35%
Colgate-Palmolive India Limited 1.32%
Indraprastha Gas Limited 1.29%
State Bank Of India 1.27%
Petronet Lng Limited 1.16%
Axis Bank Limited 1.16%
Alkem Laboratories Limited 1.13%
Marico Limited 1.12%
Shriram Transport Finance Co. Limited 1.09%
Shree Cement Limited 1.09%
Astral Poly Technik Limited 1.05%
Bata India Limited 1.00%
Westlife Development Limited 0.98%
Berger Paints Limited 0.86%
Dr. Reddys Laboratories Limited 0.80%
Ultratech Cement Limited 0.78%
NTPC Limited 0.74%
Bajaj Finance Limited 0.70%
UPL Limited 0.67%
Tech Mahindra Limited 0.63%
L&T Technology Services Limited 0.61%
Coal India Limited 0.60%
Voltas Limited 0.60%
Crompton Greaves Consumer Electricals Limited 0.56%
Power Grid Corpn. Of India Limited 0.55%
Mahindra & Mahindra Limited 0.54%
Orient Electric Limited 0.52%
Tata Steel Limited 0.48%
Bharat Petroleum Corp Limited 0.46%
Cholamandalam Investment & Finance Co. 0.45%
Bajaj Auto Limited 0.42%
Indusind Bank Limited 0.40%
Kansai Nerolac Paints Limited 0.38%
Hero Motocorp Limited 0.37%
Glaxosmithkline Consumer Healthcare Limited 0.37%
Oil & Natural Gas Corpn. Limited 0.36%
Indian Oil Corp. Limited 0.34%
Hindustan Petroleum Corp. Limited 0.32%
Grasim Industries Limited 0.29%
HDFC Life Insurance Company Limited 0.28%
Hindalco Industries Limited 0.25%
Akzo Nobel India Limited 0.22%
Eicher Motors Limited 0.22%
Interglobe Aviation (Indigo) Limited 0.21%
Creditaccess Grameen Limited 0.20%
L&T Finance Holdings Ltd 0.20%
Tata Motors Limited 0.20%
ACC Limited 0.19%
Bajaj Holdings & Investment Limited 0.19%
Jindal Steel & Power Limited 0.19%
Coromandel International Limited 0.18%
GAIL (India) Limited 0.18%
Lupin Limited 0.16%
Indostar Capital Finance (Indostar) Ltd 0.16%
Havells India Limited 0.16%
Gujarat State Petronet Limited 0.15%
Ambuja Cements Limited 0.13%
Amara Raja Batteries Limited 0.12%
Mphasis Limited 0.12%
Exide Industries Limited 0.12%
LIC Housing Finance Limited 0.11%
Teamlease Services Limited 0.11%
ABB India Limited 0.10%
TVS Motor Co. Limited 0.10%
Sundaram Clayton Limited 0.08%
RBL Bank Limited 0.06%
Aditya Birla Fashion & Retail Limited 0.06%
Zee Entertainment Enterprises Limited 0.06%
Mahindra & Mahindra Financial Services Ltd 0.06%
Larsen & Toubro Infotech Limited 0.05%
TCNS Clothing Co. Ltd 0.05%
Bank Of Baroda 0.05%
Tata Consumer Product limited 0.05%
Magma Fincorp Limited 0.04%
Tata Chemicals Limited 0.03%
ABB Power Products and Systems India Limited 0.02%
Galaxy Surfactants Limited 0.00%
Grand Total 100.00%

* % on total equity portfolio

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