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 35.23% as on December 31, 2019. The equity portfolio is as follows:

NIC Industry Weight*
Financial service activities, except insurance and pension funding26.36%
Computer programming, consultancy and related activities14.56%
Manufacture of chemicals and chemical products10.68%
Manufacture of coke and refined petroleum products9.59%
Housing Industry8.11%
Manufacture of motor vehicles, trailers and semi-trailers3.42%
Manufacture of food products3.28%
Electricity, gas, steam and air conditioning supply2.92%
Manufacture of tobacco products2.83%
Civil engineering2.61%
Telecommunications1.94%
Manufacture of Basic Metals1.85%
Manufacture of other non-metallic mineral products1.62%
Manufacture of other transport equipment1.60%
Manufacture of electrical equipment1.46%
Manufacture of pharmaceuticals,medicinal chemical and botanical products0.98%
Manufacture of rubber and plastics products0.94%
Other manufacturing0.93%
Retail trade, except of motor vehicles and motorcycles0.73%
Manufacture of textiles0.63%
Extraction of crude petroleum and natural gas0.55%
Mining of coal and lignite0.49%
Food and beverage service activities0.49%
Insurance, reinsurance and pension funding, except compulsory social security0.46%
Manufacture of machinery and equipment n.e.c.0.40%
Land transport and transport via pipelines0.22%
Employment activities0.19%
Broadcasting and programming activities0.16%
Grand Total 100.00%
EQUITY SECURITY NAME WEIGHT*
HDFC Bank Limited11.42%
Reliance Industries Limited8.25%
Housing Development Finance Corpn.7.87%
Tata Consultancy Services Limited5.77%
Infosys Limited4.69%
Kotak Mahindra bank Limited4.40%
Hindustan Unilever Limited3.42%
ITC Limited2.83%
Axis Bank Limited2.62%
Larsen & Tourbo Limited2.61%
Asian Paints Limited2.60%
HCL Technologies Limited2.33%
Maruti Suzuki India Limited2.01%
Bharti Airtel Limited1.94%
Indusind Bank Limited1.64%
Bajaj Finance Limited1.53%
Pidilite Industries Limited1.43%
State Bank Of India1.41%
Nestle India Limited1.30%
Dabur India Limited1.00%
Tech Mahindra Limited0.97%
Astral Poly Technik Limited0.94%
Titan Company Limited.0.93%
Petronet Lng Limited0.85%
NTPC Limited0.83%
Marico Limited0.82%
Britannia Industries Limited0.81%
Tata Steel Limited0.76%
Power Grid Corpn. Of India Limited0.74%
Colgate-Palmolive India Limited0.72%
Mahindra & Mahindra Limited0.69%
Cholamandalam Investment & Finance Co.0.66%
Hindalco Industries Limited0.66%
Crompton Greaves Consumer Electricals Limited0.65%
Ultratech Cement Limited0.64%
Bajaj Auto Limited0.63%
Bata India Limited0.63%
Bharat Petroleum Corp Limited0.60%
Tata Motors Limited0.59%
Berger Paints Limited0.56%
L&T Technology Services Limited0.55%
Oil & Natural Gas Corpn. Limited0.55%
L&T Finance Holdings Ltd0.53%
Creditaccess Grameen Limited0.53%
Grasim Industries Limited0.52%
GAIL (India) Limited0.50%
Coal India Limited0.49%
Dr. Reddys Laboratories Limited0.48%
Shriram Transport Finance Co. Limited0.48%
Shree Cement Limited0.47%
HDFC Life Insurance Company Limited0.46%
Jindal Steel & Power Limited0.44%
Eicher Motors Limited0.42%
Bajaj Holdings & Investment Limited0.41%
Voltas Limited0.40%
Jubilant Foodworks Limited0.39%
Indian Oil Corp. Limited0.38%
UPL Limited0.38%
Hindustan Petroleum Corp. Limited0.37%
Hero Motocorp Limited0.37%
Glaxosmithkline Consumer Healthcare Limited0.35%
ACC Limited0.32%
Alkem Laboratories Limited0.25%
Lupin Limited0.24%
LIC Housing Finance Limited0.24%
Havells India Limited0.24%
Gujarat State Petronet Limited0.22%
Amara Raja Batteries Limited0.21%
Coromandel International Limited0.20%
Mphasis Limited0.19%
Ambuja Cements Limited0.19%
Exide Industries Limited0.19%
Teamlease Services Limited0.19%
RBL Bank Limited0.18%
TVS Motor Co. Limited0.18%
Zee Entertainment Enterprises Limited0.16%
Magma Fincorp Limited0.16%
ABB India Limited0.16%
Akzo Nobel India Limited0.14%
Mahindra & Mahindra Financial Services Ltd0.14%
Sundaram Clayton Limited0.13%
Indostar Capital Finance (Indostar) Ltd0.13%
TCNS Clothing Co. Ltd0.11%
Tata Chemicals Limited0.11%
Bank Of Baroda0.11%
Kansai Nerolac Paints Limited0.11%
Westlife Development Limited0.10%
Aditya Birla Fashion & Retail Limited0.10%
Larsen & Toubro Infotech Limited0.08%
ABB Power Products and Systems India Limited0.02%
Galaxy Surfactants Limited0.01%
Grand Total 100.00%

* % on total equity portfolio

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