ICICI Pru GIFT Pro is a highly customisable savings plan that offers you guaranteed1 income along with the flexibility of choosing the way you want to receive your income. It provides the dual benefit of life cover2 and growth of money. The life cover2 secures your loved ones in case of an unfortunate event; the growth of money helps fulfil your financial goals.


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Why choose ICICI Pru GIFT Pro?

ICICI Pru GIFT Pro offers multiple benefits. Some key benefits are mentioned below:

Guaranteed1 income as per your choice

You receive guaranteed1 income throughout the income period. You can choose to receive income that increases every year or remains the same throughout as per your choice.

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Life cover2

The plan offers a life cover to help secure your loved ones in case of an unfortunate event. At the time of purchase, you can also opt for a “Low Cover Income Booster3.” With this option, you can receive higher income in exchange for a lower life cover.


Customisable MoneyBack Benefit4

With this plan, you can choose to get back your premiums as a lump sum at the end of any year during the income period. You can choose the percentage of your premiums you want as a lump sum at the time of purchase. You can also choose when you want to receive this amount.

Save the Date5

ICICI Pru GIFT Pro also lets you choose any date to receive the guaranteed1 income. You can choose a date close to the period when you incur major expenses like paying your child’s college fees or their wedding. This is applicable if you have opted to receive the guaranteed1 income on an annual basis.

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Withdraw future benefits as a lump sum6

You have the option to receive all future guaranteed1 income and the MoneyBack Benefit by converting them into a lump sum to fulfil your goals

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Tax* benefits

The plan provides the below tax* benefits as per The Income Tax Act, 1961:

  • The premiums you pay towards the plan are eligible for deductions under Section 80C*
  • The payout received from the plan is non-taxable* subject to conditions under Section 10 (10D)*


Below is an example of how the plan works:

Srushti, a 30-year-old woman wants to secure her family and her future goals. She purchases an ICICI Pru GIFT Pro plan and opts for a guaranteed1 income that increases annually.

She pays ₹ 1 lakh p.a. for ten years. In the 13th year of the plan, she receives a guaranteed1 income of ₹ 80,160. This income increases by 5% simple interest every year. Srushti will continue to receive income for the next 30 years. At the end of the 30 years, Srushti will receive a total guaranteed1 benefit of around ₹ 51,78,280 through ICICI Pru GIFT Pro.

Additionally, in case of an unfortunate event during the policy term, her family will receive a life cover of ₹ 10.7 lakh.

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1Guaranteed Benefits will be payable subject to all due premiums being paid

2Life Insurance Cover is the benefit payable on death of the Life Assured during the policy term

3If you opt for “Low Cover Income Booster” the sum assured on death will be lower and your guaranteed income will be increased

4You can choose to receive any percentage from 0% to 100% of the sum total of all annualised premiums payable by you as MoneyBack Benefit. This will be paid as a Lump sum amount. Additionally, you also have the flexibility to choose any year, on or after the maturity date of the policy up to the last income year, to receive this MoneyBack Benefit. Your Guaranteed Income amount will be adjusted based on the MoneyBack Benefit % and payout year selected by you

5You have an option to receive GI every year on a Special Date of your choice preceding the due date of first GI pay-out during the Income Period. The Special date can be chosen to coincide with any date such as, Date of Maturity, birth date or anniversary date etc. Payment of GI will commence from this Special Date and all further GIs will be paid every year on this Special Date chosen. In case You opt for a Special Date, the GI payable each year would be adjusted by multiplying the GI amount with a discount loading factor, varying by the policy month in which the Special Date falls

6You can choose to convert all future guaranteed income and MoneyBack Benefit (if applicable and not already received) into a lump sum. This flexibility is also available to the Claimant in case of an unfortunate demise of the Life Assured during the Income Period. The value of lump sum benefit will depend on when you/ the Claimant exercise the option, and is detailed below: • On the date of policy maturity: equal to ‘Maturity Sum Assured’. • Any time during the income period after policy maturity date: Future GIs and MoneyBack Benefit (if applicable) discounted at 30-year Government Securities yield + 1.00%, rounded to nearest 0.25%. The yield on 30-year Government Securities will be sourced from www.bloomberg.com. The discount rate, applicable for commutation to lump sum during income period, will be reviewed twice every year on 1st of June and 1st of December

*Tax benefits under the policy are subject to conditions under Sections 80C, 10(10D), 115BAC and other provisions of the Income Tax Act, 1961. Goods and Services Tax and Cesses, if any will be charged extra as per applicable rates. Tax laws are subject to amendments from time to time. Please consult your tax advisor for more details.

ICICI Pru GIFT Pro (A Non-Linked Non-Participating Individual Savings Life Insurance Plan) UIN :

Advt no. W/II/0664/2023-24

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