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 36.26% as on September 30, 2021. The equity portfolio is as follows:

NIC Industry Weight*
Computer programming, consultancy and related activities17.44%
Financial service activities, except insurance and pension funding14.14%
Mutual Fund - Liquid11.41%
Manufacture of chemicals and chemical products9.18%
Manufacture of pharmaceuticals,medicinal chemical and botanical products7.15%
Manufacture of coke and refined petroleum products6.81%
Housing Industry5.23%
Manufacture of food products2.97%
Manufacture of motor vehicles, trailers and semi-trailers2.77%
Manufacture of other non-metallic mineral products2.65%
Telecommunications2.54%
Manufacture of other transport equipment2.41%
Manufacture of tobacco products2.05%
Manufacture of electrical equipment2.04%
Insurance, reinsurance and pension funding, except compulsory social security2.01%
Civil engineering1.69%
Other manufacturing1.66%
Manufacture of Basic Metals1.55%
Food and beverage service activities1.10%
Electricity, gas, steam and air conditioning supply0.87%
Manufacture of rubber and plastics products0.84%
Mining support service activities0.54%
Motion picture, video and television programme production, sound recording0.37%
Retail trade, except of motor vehicles and motorcycles0.23%
Land transport and transport via pipelines0.23%
Employment activities0.11%
Grand Total 100.00%
EQUITY SECURITY NAME WEIGHT*
SBI Nifty Bank ETF11.41%
Infosys Limited8.19%
Reliance Industries Limited6.70%
HDFC Bank Limited6.43%
Tata Consultancy Services Limited5.57%
Housing Development Finance Corpn.5.23%
Axis Bank Limited3.61%
Hindustan Unilever Limited3.36%
HCL Technologies Limited2.95%
Dr. Reddys Laboratories Limited2.63%
Bharti Airtel Limited2.54%
ITC Limited2.05%
Kotak Mahindra bank Limited1.93%
Ultratech Cement Limited1.89%
Cipla Limited1.82%
Larsen & Tourbo Limited1.69%
Titan Company Limited.1.66%
Asian Paints Limited1.66%
Crompton Greaves Consumer Electricals Limited1.47%
RBL Bank Limited1.37%
Britannia Industries Limited1.36%
Alkem Laboratories Limited1.11%
Mahindra & Mahindra Limited1.09%
Bajaj Auto Limited1.07%
SBI Life Insurance Company Limited1.03%
Hero Motocorp Limited1.03%
Maruti Suzuki India Limited1.00%
HDFC Life Insurance Company Limited0.98%
Divis Laboratories Limited0.96%
Westlife Development Limited0.89%
Indraprastha Gas Limited0.87%
Dabur India Limited0.85%
Astral Limited0.84%
Marico Limited0.83%
SRF Limited0.81%
Hindalco Industries Limited0.80%
Nestle India Limited0.78%
Jindal Steel & Power Limited0.75%
Mphasis Limited0.73%
UPL Limited0.69%
Pidilite Industries Limited0.64%
Endurance Technologies Limited0.59%
Shree Cement Limited0.55%
Petronet Lng Limited0.54%
Orient Electric Limited0.45%
Aurobindo Pharma Limited0.40%
PVR Limited0.37%
Aarti Industries Limited0.28%
Kansai Nerolac Paints Limited0.26%
Godrej Consumer Products Limited0.24%
Bata India Limited0.23%
Gujarat State Petronet Limited0.23%
Eicher Motors Limited0.22%
Grasim Industries Limited0.22%
ACC Limited0.21%
Torrent Pharmaceuticals Limited0.21%
Jubilant Foodworks Limited0.20%
L&T Finance Holdings Ltd0.20%
Suryoday Small Finance Bank Limited0.19%
Creditaccess Grameen Limited0.18%
SBI Cards & Payment Services Limited0.15%
Coromandel International Limited0.12%
Hindustan Petroleum Corp. Limited0.11%
Teamlease Services Limited0.11%
Sundaram Clayton Limited0.09%
TVS Motor Co. Limited0.09%
Indostar Capital Finance (Indostar) Ltd0.09%
Exide Industries Limited0.07%
Amara Raja Batteries Limited0.06%
Akzo Nobel India Limited0.05%
Lupin Limited0.02%
Grand Total 100.00%

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