Life is peaceful when you can plan your goals ahead of time. You need a plan that can take care of your family's financial security with a life insurance cover1 as well as secure your life goals like marriage, parenthood, children's education and retirement.

Presenting ICICI Pru GIFT Pro, a protection and savings-oriented life insurance plan which helps you build a safety net to provide financial protection to your family along with guaranteed2 benefits. With ICICI Pru GIFT Pro, you can achieve your life goals like a PRO.

What makes ICICI Pru GIFT Pro suitable for you?

  • Life Insurance Cover1 for financial security of your family
  • Flexibility of selecting duration of receiving Guaranteed Income2 as per your needs
  • Option to receive Guaranteed income2 that either stays the same throughout the income duration or increases every year
  • Flexibility to choose:
    • Percentage of MoneyBack Benefit3 i.e. sum of total annualised premiums paid: It can be any number from 0% to 100%
    • When you want to receive MoneyBack Benefit3: It can be paid at the maturity date or at the end of any policy year within the income period
  • Option to enhance your Guaranteed Income2 amount with Low Cover Income Booster4
  • Option to receive income on date of your choice through Save the Date5 option
  • Tax benefits6 may be applicable on premiums paid and benefits received as per the prevailing tax laws

A GIFT with many flexibilities

You pay premiums for a certain period of time (known as the premium payment term). After the completion of policy term, you will receive Guaranteed Income2 (GI) at the end of every month/year for a certain period (known as the Income Period). Please go through the details given below to know about the various flexibilities available to you.

1. Flexibility to choose Guaranteed Income option (Level Guaranteed Income7 or Increasing Guaranteed Income7)

ICICI Pru GIFT Pro gives you the option to select whether you want to receive guaranteed income2 that either

  • remains at the same level throughout the Income Period, or
  • increases every year

If you choose to receive an income that increases every year, your guaranteed income2 will increase every year at a simple interest rate of 5% per annum

Let us take an example to understand this flexibility available under ICICI Pru GIFT Pro:

Bhavesh is a 35-year-old who wants to receive second income that increases every year to meet his future goals.

He decides to pay an annual premium of ₹1 lakh for 10 years in ICICI Pru GIFT Pro and receive 100% MoneyBack Benefit in the last year of the Income Period and gets a life cover of minimum ₹ 10.70 lakh for 11 years.

Below table shows Bhavesh’s income in respective policy year:

Income in Year Annual Income
1 ₹ 61,820
2 ₹ 64,911
3 ₹ 68,002
4 ₹ 75,774
5 ₹ 74,184
30 ₹ 1,51,459

2. Flexibility to choose to receive a percentage of your total annualised premiums paid i.e., MoneyBack Benefit3

3). You will need to select the percentage of MoneyBack3 at inception

Let us take an example to understand this flexibility available under ICICI Pru GIFT Pro:

Bhavesh is a 35-year-old who wants to create a second income for himself so that he can plan for his future goals.

He decides to pay an annual premium of ₹1 lakh for 10 years towards ICICI Pru GIFT Pro. He gets a life cover1 of minimum ₹ 10.70 lakh for 11 years. He also decides to receive 100% MoneyBack Benefit3 in the last year of the Income Period. He gets a life cover of minimum ₹10.70 lakh for 11 years.

Let’s say Bhavesh considers 100%, 80%, 50%, 30% or 0% as MoneyBack Benefit3 along with the last income

Below table shows Bhavesh’s income in respective policy year:

MoneyBack Benefit3 Annual Income for 30 years
100% ₹ 90,140
80% ₹ 91,970
50% ₹ 94,720
30% ₹ 96,550
0% ₹ 99,300

3. Flexibility to choose when you want to receive MoneyBack Benefit3

ICICI Pru GIFT Pro gives you the flexibility to choose any year, on or after the maturity date of the policy up to the last income year, to receive the MoneyBack Benefit3. The MoneyBack Benefit3 will be payable at the end of the year, as chosen by you.

Please also note: In case of death of the Life Assured during the Income Period, the Claimant continues to receive the Guaranteed Income2 and MoneyBack Benefit3 (if applicable and not paid earlier).

4. Flexibility to choose income on any date of your choice with Save the Date5

2 if you have opted to take Guaranteed Income2 on an annual basis.

5. Flexibility to receive all future benefits as a lump sum benefit at a discounted value

For ease of access to the fund, you get the option to receive future benefits by converting them in the form of a lump sum at policy maturity or any time during the income period, at a discounted rate (if not already received). This flexibility is also available to the Claimant in case of unfortunate demise of the Life Assured during the Income Period.

6. Low Cover Income Booster4

At the inception of the policy, you can also choose to opt for “Low Cover Income Booster” wherein you will be able to enjoy increased income for opting a lower life cover.

Death Benefit

In the event the person whose life is covered by this policy (known as the Life Assured) passes away, during the term of the policy, the Death Benefit will be paid out as a lump sum to the person specified (known as the Claimant) in the policy.

Death Benefit is highest of:

  • a. Sum Assured on Death (defined as Death Benefit multiple X Annualised Premium8)
  • b. 105% of the Total premiums paid10 up to the date of death
  • c. Death Benefit Factor X Maturity Sum Assured9 X {number of months for which premiums are paid up to date of death / (12 X Premium Payment Term)}
  • d. Surrender value payable as on the date of death.

On payment of Death Benefit to the claimant, the policy will terminate and all rights, benefits and interests under the policy will stand extinguished.

Plan at a glance

Premium Payment Term (in years) Policy Term (in years) Income Period* (in years) Min/Max Age at Entry (in years) Min/Max Age at Maturity (in years)
5 8 to 10 5/7/10/12/15/20/25/30 18 minus Policy Term / 60 18/70
6 8 to 11 18/71
7 8 to 12 18/72
8 9 to 13 18/73
9 9 to 14 18/74
10 10 to 15 18/75
11 11 to 16 18/75
12 12 to 17 18/75

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

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

3 You can choose to receive any percentage from 0% to 100% of the sum total of all annualized premiums payable by you as MoneyBack Benefit. This will be paid as a Lump sum amount. Additionally, you also have the flexibilty 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

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

5 You 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

6 Tax benefits under the policy are subject to conditions under provisions of the Income Tax Act, 1961. Goods and Services Tax and Cesses, if any, will be charged extra as per prevailing rates. Tax laws are subject to amendments made thereto from time to time. Please consult your tax advisor for more details

7 Level Income and Increasing Income are income options available under GIFT Pro. Under Level Income, the Guaranteed Income will remain constant throughout the income period. If Increasing Income is selected, the Guaranteed Income will increase at a simple interest rate of 5% p.a.

8 Annualized Premium means the premium amount payable in a year chosen by the policyholder, excluding the taxes, rider premiums, underwriting extra premiums and loadings for modal premiums, if any

9 Maturity Sum Assured is the discounted value of future GIs and MoneyBack Benefit (if applicable) computed at discount rate of 8.00% p.a. at the end of the policy term

10 Total Premiums Paid means the total of all premiums received, excluding any extra premium, any rider premium and taxes

ICICI Pru GIFT Pro UIN:

W/II/0337/2023-24

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