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:105N153V02.

 

 

#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 36.83% as on December 31, 2021. The equity portfolio is as follows:
NIC Industry Weight*
Financial and insurance activities 20.58%
Computer programming, consultancy and related activities 17.31%
Manufacture of chemicals and chemical products 8.18%
Manufacture of coke and refined petroleum products 7.71%
Infrastructure 6.70%
Manufacture of pharmaceuticals,medicinal chemical and botanical products 5.74%
Manufacture of motor vehicles, trailers and semi-trailers 3.46%
Manufacture of other non-metallic mineral products 2.48%
Manufacture of Basic Metals 2.26%
Manufacture of electrical equipment 2.07%
Manufacture of food products 2.02%
Other manufacturing 1.81%
Manufacture of tobacco products 1.76%
Food and beverage service activities 1.68%
Manufacture of other transport equipment 1.61%
Manufacture of rubber and plastics products 0.83%
Motion picture video and television programme production sound recording 0.36%
Employment activities 0.33%
Retail trade, except of motor vehicles and motorcycles 0.23%
Manufacture of wearing apparel 0.10%
Others 12.82%
Grand Total 100.00%
EQUITY SECURITY NAME WEIGHT*
Infosys Limited 8.59%
Reliance Industries Limited 7.32%
HDFC Bank Limited 6.55%
SBI Nifty Bank ETF 5.23%
Tata Consultancy Services Limited 4.89%
ICICI Prudential Bank ETF 4.82%
Housing Development Finance Corpn. 4.66%
Axis Bank Limited 3.20%
Hindustan Unilever Limited 2.88%
HCL Technologies Limited 2.83%
Nippon India Banking ETF 2.77%
Bharti Airtel Limited 2.70%
Larsen & Tourbo Limited 2.63%
Titan Company Limited. 1.81%
Ultratech Cement Limited 1.80%
ITC Limited 1.76%
Dr. Reddys Laboratories Limited 1.66%
Asian Paints Limited 1.61%
Kotak Mahindra bank Limited 1.61%
Crompton Greaves Consumer Electricals Limited 1.49%
Cipla Limited 1.33%
SBI Life Insurance Company Limited 1.19%
Hindalco Industries Limited 1.06%
Mahindra & Mahindra Limited 1.06%
Bajaj Finance Limited 1.05%
Jindal Steel & Power Limited 1.01%
Maruti Suzuki India Limited 0.94%
Alkem Laboratories Limited 0.94%
Divis Laboratories Limited 0.87%
RBL Bank Limited 0.85%
Bajaj Auto Limited 0.85%
Astral Limited 0.83%
Westlife Development Limited 0.83%
HDFC Life Insurance Company Limited 0.82%
SRF Limited 0.81%
Mphasis Limited 0.74%
Dabur India Limited 0.74%
Nestle India Limited 0.73%
Marico Limited 0.72%
Indraprastha Gas Limited 0.71%
Sapphire Foods India Limited 0.69%
UPL Limited 0.67%
Britannia Industries Limited 0.56%
Motherson Sumi Systems Limited 0.53%
Aurobindo Pharma Limited 0.51%
Endurance Technologies Limited 0.51%
Hero Motocorp Limited 0.49%
Shree Cement Limited 0.48%
Orient Electric Limited 0.47%
Petronet Lng Limited 0.46%
Pidilite Industries Limited 0.42%
Hindustan Petroleum Corp. Limited 0.39%
PVR Limited 0.36%
Ashok Leyland Limited 0.33%
Aarti Industries Limited 0.29%
Wipro Limited 0.26%
Quess Corp Limited 0.23%
Kansai Nerolac Paints Limited 0.23%
Bata India Limited 0.23%
Godrej Consumer Products Limited 0.21%
Torrent Pharmaceuticals Limited 0.20%
Gujarat State Petronet Limited 0.20%
Sun Pharmaceutical Inds. Limited 0.20%
Grasim Industries Limited 0.19%
ACC Limited 0.19%
Eicher Motors Limited 0.19%
Tata Steel Limited 0.18%
Jubilant Foodworks Limited 0.17%
Creditaccess Grameen Limited 0.16%
L&T Finance Holdings Ltd 0.16%
Suryoday Small Finance Bank Limited 0.14%
SBI Cards & Payment Services Limited 0.12%
Page Industries Limited 0.10%
Coromandel International Limited 0.09%
TVS Motor Co. Limited 0.09%
Teamlease Services Limited 0.09%
Sundaram Clayton Limited 0.09%
Indostar Capital Finance (Indostar) Ltd 0.07%
Exide Industries Limited 0.07%
Amara Raja Batteries Limited 0.04%
Akzo Nobel India Limited 0.04%
Lupin Limited 0.02%
Grand Total 100.00%

* % on total equity portfolio

People like you also read ...

Leave a Rating!

4.8 (428 votes)
W/II/0941/2019-20
Back to Top