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 33.16% as on September 30, 2020. The equity portfolio is as follows:

NIC Industry Weight*
Computer programming, consultancy and related activities 18.67%
Manufacture of chemicals and chemical products 12.81%
Manufacture of pharmaceuticals,medicinal chemical and botanical products 10.98%
Manufacture of coke and refined petroleum products 10.23%
Financial service activities, except insurance and pension funding 9.48%
Manufacture of other transport equipment 5.26%
Manufacture of food products 4.62%
Housing Industry 3.79%
Food and beverage service activities 3.79%
Manufacture of motor vehicles, trailers and semi-trailers 3.38%
Manufacture of tobacco products 2.54%
Insurance, reinsurance and pension funding, except compulsory social security 2.47%
Telecommunications 2.21%
Electricity, gas, steam and air conditioning supply 1.93%
Manufacture of other non-metallic mineral products 1.79%
Other manufacturing 1.58%
Manufacture of electrical equipment 1.50%
Manufacture of rubber and plastics products 1.22%
Manufacture of Basic Metals 0.67%
Manufacture of machinery and equipment n.e.c. 0.58%
Retail trade, except of motor vehicles and motorcycles 0.29%
Employment activities 0.12%
Land transport and transport via pipelines 0.11%
Grand Total 100.00%
EQUITY SECURITY NAME WEIGHT*
Reliance Industries Limited 10.23%
Infosys Limited 8.95%
HDFC Bank Limited 7.14%
Tata Consultancy Services Limited 7.01%
Dr. Reddys Laboratories Limited 4.77%
Hindustan Unilever Limited 4.00%
Housing Development Finance Corpn. 3.79%
Hero Motocorp Limited 3.46%
Alkem Laboratories Limited 2.97%
Jubilant Foodworks Limited 2.72%
HCL Technologies Limited 2.71%
Maruti Suzuki India Limited 2.56%
ITC Limited 2.54%
Asian Paints Limited 2.34%
Britannia Industries Limited 2.24%
Bharti Airtel Limited 2.21%
Cipla Limited 2.15%
Titan Company Limited. 1.58%
Kotak Mahindra bank Limited 1.57%
Nestle India Limited 1.45%
Pidilite Industries Limited 1.39%
Bajaj Auto Limited 1.38%
HDFC Life Insurance Company Limited 1.30%
Astral Poly Technik Limited 1.22%
Dabur India Limited 1.20%
SBI Life Insurance Company Limited 1.18%
Indraprastha Gas Limited 1.08%
Westlife Development Limited 1.07%
Divis Laboratories Limited 1.04%
Shree Cement Limited 1.02%
Marico Limited 0.94%
Colgate-Palmolive India Limited 0.92%
Petronet Lng Limited 0.85%
UPL Limited 0.83%
Berger Paints Limited 0.82%
Mahindra & Mahindra Limited 0.75%
Crompton Greaves Consumer Electricals Limited 0.68%
Voltas Limited 0.58%
Ultratech Cement Limited 0.54%
Hindalco Industries Limited 0.49%
Orient Electric Limited 0.42%
Creditaccess Grameen Limited 0.37%
Kansai Nerolac Paints Limited 0.35%
Grasim Industries Limited 0.33%
Eicher Motors Limited 0.29%
Bata India Limited 0.29%
Godrej Consumer Products Limited 0.29%
ACC Limited 0.22%
Coromandel International Limited 0.21%
L&T Finance Holdings Ltd 0.20%
Havells India Limited 0.18%
Jindal Steel & Power Limited 0.17%
Indostar Capital Finance (Indostar) Ltd 0.14%
TVS Motor Co. Limited 0.13%
Exide Industries Limited 0.12%
Teamlease Services Limited 0.12%
Akzo Nobel India Limited 0.12%
Gujarat State Petronet Limited 0.11%
Amara Raja Batteries Limited 0.10%
Sundaram Clayton Limited 0.07%
Magma Fincorp Limited 0.07%
Lupin Limited 0.04%
ABB Power Products and Systems India Limited 0.02%
Grand Total 100.00%

* % on total equity portfolio

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