You always want to ensure the well-being of your loved ones. At the same time, you also want to enjoy life to the fullest and ensure that all non-negotiable goals are taken care of. For this, you need to have assurance of a life cover to protect your loved ones in case of any uncertainties and also plan for various life goals like marriage, parenthood, children’s education or a peaceful retirement.

Keeping this in mind, we present ICICI Pru Guaranteed Income For Tomorrow (Long-term). A protection and savings oriented life insurance plan with guaranteed2 benefits to help you achieve your life goals.

2Conditions apply

What makes ICICI Pru Guaranteed Income For Tomorrow (Long-term) suitable for you?
  • Life Insurance Cover1 for financial security of your family
  • Guaranteed2 income to help you save for your goals
  • Tax3 benefits may be applicable on premiums paid and benefits received as per the prevailing tax laws
  • Option of taking loan4 against policy to help you in case of financial emergencies
What is Income plan option?

Under this plan option, you can choose to pay premiums for 7 or 10 years (PPT) and also choose to receive Guaranteed2 Income for 15, 20, 25 or 30 years.

Your policy term is PPT+1+Income Period and the life cover is available for the entire policy term.

Smita is a 35 year old female, paying an annual premium of `1 lakh in ICICI Pru Guaranteed2 Income For Tomorrow (Long-term). She wants to create an alternate source of income for herself so that she can plan to retire early.

The table below shows the Guaranteed2 Income that Smita will receive, for different combinations of premium payment term and Income Period.

Pay for Income Period
15 years 20 years 25 years 30 years
7 years `90,870 `75,848 `67,223 `61,364
10 years `1,43,736 `1,22,439 `1,08,714 `97,670

Smita also has the flexibility to receive the Guaranteed2 Income either every year or every month during the Income Period.

Guaranteed2 Income on an annual basis for a premium payment term of 10 years and income period of 30 years is `97,670.

If she chooses to receive this income every month, the amount will be `95,716 for the whole year i.e. she will receive `95,716/12 = `7,976 every month for 30 years.

Life Insurance Benefit (Death Benefit):

If the person whose life is covered by this policy (known as the Life Assured) passes away, during the term of the policy, the insurance cover amount will be paid out as a lump sum to the person specified (known as the Claimant) in the policy

Life Insurance Benefit is highest of:

  1. Sum Assured on Death
  2. 105% of Total Premiums Paid up to the date of death
  3. Annual Guaranteed Income X Death Benefit factor for Guaranteed Income, where,

Sum Assured on Death is 10 X Annualized Premium

What is Income with 110% ROP plan option?

Under this plan option, you can choose to pay premiums for 7 or 10 years (PPT) and also choose to receive Guaranteed2 Income for 15, 20, 25 or 30 years. Additionally, you will get 110% of Total Premiums paid by you (Maturity Benefit) at the end of the policy term along with the last income instalment. Your policy term is PPT+1+Income Period and the life cover is available for the entire policy term.

Smita is a 35 year old female, paying an annual premium of ₹1 lakh in ICICI Pru Guaranteed Income For Tomorrow (Long-term). She wants to create an alternate source of income for herself so that she manage regular expenses and also use the lump sum at the end for her son’s wedding.

The table below shows the Guaranteed2 Income and the Maturity Benefit benefit that Smita will receive, for different combinations of premium payment term and Income Period:

Pay for Income Period Smita will get Maturity Benefit equal to
15 years 20 years 25 years 30 years
7 years `57,977 `55,981 `54,187 `52,311 `7,70,000
10 years `97,457 `91,892 `87,966 `85,713 `11,00,000

Smita also has the flexibility to receive the Guaranteed2 Income either every year or every month during the Income Period.

Guaranteed2 Income on an annual basis for a premium payment term of 10 years and income period of 30 years is `85,713.

If she chooses to receive this income every month, the amount will be `83,999 for the whole year i.e. she will receive `83,999/12 = `7,000 every month for 30 years.

Life Insurance Benefit (Death Benefit):

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

Life Insurance Benefit is highest of:

  1. Sum Assured on Death
  2. 105% of Total Premiums Paid up to the date of death
  3. Annual Guaranteed Income X Death Benefit factor for Guaranteed Income + Maturity benefit X Death Benefit factor for Maturity benefit, where,

Sum Assured on Death is 10 X Annualized Premium

Plan at a Glance
Plan Option Premium Payment Term
(in years)
Income Period*
(in years)
Policy Term
(in years)
Minimum Age at Entry
(in years)
Maximum Age at Entry
(in years)
Min/Max Age at Maturity
(in years)
Income 7 15, 20, 25 or 30 23, 28, 33, 38 0 60 23/98
10 26, 31, 36, 41 26/101
Income with 110% ROP# 7 23, 28, 33, 38 23/98
10 26, 31, 36, 41 26/101

* Income Period starts one year after the completion of premium payment term and is included in the policy term

# ROP: Return of premium

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1Life insurance cover is the benefit payable on death of the life assured during the policy term

2Guaranteed benefits are payable depending on the plan option chosen, subject to all due premiums being paid. ICICI Pru Guaranteed Income For Tomorrow (Long-term) offers two plan options namely 'Income' and 'Income with 110% ROP'. The customer can choose any plan option from the two available options. Please refer to the product brochure for more details.

3Tax benefits under the policy are subject to prevailing conditions and 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 details, before acting on above

4You can take a policy loan after the policy acquires a surrender value. Loan amount up to 80% of the surrender value can be availed.

5This benefit is available under Income with 110% ROP plan option.

Additional points to note:

  • Save the Date: You can choose to receive income on any one date succeeding the due date of first income to coincide with any special date. This is applicable only for annual mode of income
  • Premium, premium payment term and policy term chosen at inception of policy cannot be changed. You have the flexibility to change the frequency of premium payment
  • The proportion of applicable Guaranteed Income payable for monthly and half-yearly modes of premium payments, expressed as a percentage of the annual premium are given below
Mode of Premium Payment Proportion of benefits
Monthly 94%
Half-yearly 97%
Yearly 100%

For further details, please refer to the policy document and the sales brochure.

ICICI Pru Guaranteed Income For Tomorrow (Long-term) UIN: 105N185V01

W/II/4399/2021-22

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