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Guaranteed Income Plan
Give your Long-Term Goals the power of Guarantee^
110% Return on Premium¶
Stable Continuous Income
Buy online & get up to 2% Additional Guaranteed Income~
Benefits
100% Guaranteed^ Long Term Income
Get back more than what you pay
Dual Tax Benefits*
Income when you want
Life Cover2
Avail Loan☩
View all benefits
^Conditions apply
₹10,000 p.m. for 12 years₹1.64 Lakh p.a. for 30 years1 + ₹15.84 lakh at maturity
Guaranteed Income Calculator
What is ICICI Pru Guaranteed Income For Tomorrow (Long-term)?
ICICI Pru Guaranteed Income For Tomorrow (Long-term) is a savings plan which offers 100% guaranteed^ income for a long-term period of 15, 20, 25 or 30 years
This plan helps you to get income for your dream house, your child’s education, a peaceful retirement and many more goals that you may have nurtured over the years, even in these uncertain times.
How the plan works?
Explore our variants
ASSURED INCOME
ASSURED INCOME WITH 110% ROP
Invest for 7,10 or 12 years & get a Guaranteed^ Flow of Income in the later years.
Additionally, you get 110% of total premiums paid at the end of the income period.
Additionally, you get 110% of total premiums paid at the end of the income period.
Watch your money grow by selecting the plan options
Want your life cover to continue in income period?
| You Pay | Life Cover- | You Get |
|---|---|---|
Regular Income● 110% Return of Premium | ||
| ₹5,000 p.m. | ₹6 Lakh | ₹75,587 p.a. + ₹7,92,000 |
| ₹7,500 p.m. | ₹9 Lakh | ₹1.13 Lakh p.a. + ₹11,88,000 |
| ₹10,000 p.m. | ₹12 Lakh | ₹1.53 Lakh p.a. + ₹15,84,000 |
●Includes 2% Additional Online Benefit~
Examples above are for a 30 year old healthy male & exclusive of taxes
-This is the minimum life cover available under the plan.
You also get tax benefits* in the form of tax-free* income u/s 10(10D) and also save on premiums paid u/s 80C*.
Eligibility
Buy in 3 simple steps
1
2
3
Plan Issued
Create your Savings Plan
Fill application form
Make Payment & Upload Documents
Keep these documents handy
Need Help? Call us Today
1800-209-9777
Why choose ICICI Prudential Life?
₹2.4 Lakh Crore
Assets Under Management
as on March 31, 2022^^
as on March 31, 2022^^
5.81 Crore
Lives Covered
as on March 31, 2022%
as on March 31, 2022%
₹968.8 Crores
Bonus declared
for policyholders``
for policyholders``
1 Day<
Death Claim
Settlement
Settlement
Frequently Asked Questions
Are Returns Guaranteed?
Returns are 100% guaranteed^ subject to all due premiums being paid and the policy being in force on the date of maturity.
^ Conditions apply
Guaranteed Income Plans
A guarantee that you will receive a fixed amount regularly along with a life cover – doesn’t it provide the perfect sense of security? This certainty helps you avoid worrying over expenses on luxuries that add joys to life. It assures the fulfilment of your loved ones’ life goals. It also ensures financial stability for your retirement years.And if you also get the surety that your family’s financial needs will be covered even in your absence? Nothing could be more stress-relieving than that.Guaranteed income plans provide that certainty. Such life insurance-cum-savings plans guarantee regular payouts and investment benefits.A guaranteed income plan also assures a life cover. It secures your family against financial hardships in case of an eventuality. Thus, such plans enable you to ensure the lifestyle you want for your loved ones, even in your absence.Why should you buy guaranteed income plans?
Guaranteed tax-free* incomeAfter you pay the premiums for the specified period, an assured income starts flowing in. Thus, it acts as an extra income source to fund your child’s education, foreign trips, and other goals. You can opt to receive the payouts either annually or every month as per your financial needs.
Thus, the right guaranteed income plan creates an alternate source of tax-free* income. With such plans, you can start enjoying the freedom of retired life even before you turn 60 years old.
Life cover for the entire policy term Your life cover remains active throughout the policy tenure. Thus, your loved ones stay safe from financial uncertainties in case of your unfortunate demise.
Tax deductionsYou can avail a tax* deduction of up to ₹1.5 lakh for premiums paid under Section 80C of the Income Tax Act, 1961.
Benefits of guaranteed income plans
Death BenefitIn case of the unfortunate demise of the life assured, guaranteed income plans pay a lumpsum amount to your nominee. It may help to cover your loved ones’ living costs in your absence.
MaturityBenefitAn assured income plan offers periodic payments at the end of the policy term. Some policies also allow you to enjoy the payouts before the policy end date arrives. Thus, you can enjoy financial stability with such plans.
Tax benefitsThe premiums that you pay qualify for tax* benefits under section 80C of the Income Tax Act of 1961. The maturity proceeds are also tax-free subject to conditions under Section 10(10D).
Who should buy guaranteed income plans?
A guaranteed income plan is ideal for you if:
- you want a fixed additional income
- you wish to safeguard your investments from market fluctuations
- you are looking for financial freedom in your retirement years
Online Benefit
- The Income and Assured Income plan option offers 1.5% Additional Guaranteed Income
- The Income with 110% ROP and Assured Income with 110% ROP plan option offers 2% Additional Guaranteed Income
Save the Date Feature
With Save the Date# feature, you have the option to receive income on any special date like your spouse's birthdate or on your anniversary
Tax Saving
The premiums paid are eligible for Deduction u/s 80C* up to ₹1,50,000. You can also enjoy tax-free* payout as the Maturity Benefit~ is exempt subject to conditions u/s 10(10D).*
Premium Discontinuance
If premium payment is discontinued after your policy has acquired a surrender value, your policy will continue as a ‘paid-up’ policy with reduced benefits. If you discontinue premium payment before your policy has acquired a surrender value, your policy will lapse and no benefits will be paid. For more details, please refer to the brochure.
Loan against Policy☩
You have the option of taking loan up to 80% of surrender value against the policy to help you in case of any financial emergencies.
Disclaimer
<ClaimForSure: 1 Day Death Claim Settlement is available for the following:
a) Policies that have been active for 3 consecutive years. All due premiums in the policy have been paid and the policy has been active for 3 consecutive years preceding life assured's death.
b) All mandatory claim documents are submitted at the branch. Mandatory documents to be submitted at Branch Office-Claimant statement form,Original policy certificate,Copy of death certificate issued by local authority, AML KYC documents-Nominee's recent photograph, Copy of Nominee's pan card,Nominee's current address proof, photo identity proof, Cancelled cheque/Copy of bank passbook,Copy of medico legal cause of death,Medical records (Admission notes,Discharge/Death summary,Test reports, etc). For accidental death-Copy of FIR, Panchnama,Inquest report,Postmartem report,Driving license.
c) Total claim amount of all the life policies held by the Life Assured <=₹ 1.5 Crore
d) Claim does not require any on-ground investigation
<1 Day is a working day, counted from date of receipt of all relevant documents from the claimant, additional information sought by the Company and any clarification received from the claimant. The Company will be calling the claimants for verification of information submitted by the Claimant which will also be considered as part of relevant documents. Working day will be counted as Monday to Friday and excluding National holidays/Bank holidays/Public holidays.
∆Interest shall be at the bank rate that is prevalent at the beginning of the financial year in which death claim has been received. In case of breach in regulatory turnaround time, interest will be paid as per IRDAI regulations.
1The total amount is calculated for a 30-year-old healthy male with a premium paying term of 12 years paying premiums in monthly mode, with a deferment of 2 years and income period of 30 years taking income in annual instalment under Assured Income with 110% ROP plan option. The premium shown is exclusive of taxes and the mentioned benefit is payable only if all premiums are paid as per the premium paying term and the policy is in force till the completion of entire policy term opted.
2Life Cover is the benefit payable on death of the life assured during the policy term. The Policy Term may vary on the basis of plan option selected.
3The total amount is calculated for a 30-year-old healthy male with a premium paying term of 10 years paying premiums in monthly mode and income period of 30 years taking income in annual installment under Assured Income plan option. The premium shown is exclusive of taxes and the mentioned benefit is payable only if all premiums are paid as per the premium paying term and the policy is in force till the completion of entire policy term opted. Total benefit of ₹1,15,14,930 is calculated by taking the sum of all guaranteed incomes payable over the entire income duration.
4The regular income is for a 30-year-old healthy male paying premium monthly with a premium paying term of 12 years, policy term of 13 years and income period of 20 years taking income in annual instalment under Assured Income plan option. The premium shown is exclusive of taxes and the mentioned benefit is payable only if all premiums are paid as per the premium paying term and the policy is in force till the completion of entire policy term opted. 1.62 times is calculated by dividing ₹ 1,62,448 (Guaranteed Annual Income) by ₹ 1,00,000 (Annual Premium)
5The regular income is for a 30-year-old healthy male paying premium monthly with a premium paying term of 12 years, policy term of 13 years and income period of 20 years taking income in annual instalment under Assured Income with 110% ROP plan option. The premium shown is exclusive of taxes and the mentioned benefit is payable only if all premiums are paid as per the premium paying term and the policy is in force till the completion of entire policy term opted.
6The regular income is for a 30-year-old healthy male with a premium paying term of 10 years, policy term of 11 years and income period of 25 years taking income in annual installment under Assured Income with 110% ROP plan option. The premium shown is exclusive of taxes and the mentioned benefit is payable only if all premiums are paid as per the premium paying term and the policy is in force till the completion of entire policy term opted.
7The regular income is for a 30-year-old healthy male with a premium paying term of 12 years, policy term of 13 years and income period of 30 years taking income in annual instalment under Assured Income with 110% ROP plan option. The premium shown is exclusive of taxes and the mentioned benefit is payable only if all premiums are paid as per the premium paying term and the policy is in force till the completion of entire policy term opted.
8The total amount is calculated for a 30-year-old healthy male with a premium paying term of 10 years paying premiums in monthly mode and income period of 30 years taking income in annual installment under Assured Income with 110% ROP plan option. The premium shown is exclusive of taxes and the mentioned benefit is payable only if all premiums are paid as per the premium paying term and the policy is in force till the completion of entire policy term opted. Total benefit of ₹1,02,12,720 is calculated by taking the sum of all guaranteed incomes payable over the entire income duration plus the 110% Return of Premium amount payable on maturity.
9The total amount is calculated for a 30-year-old healthy male with a premium paying term of 12 years paying premiums in yearly mode, deferment period of 1 year and income period of 30 years taking income in annual installment under Assured Income with 110% ROP plan option. The premium shown is exclusive of taxes and the mentioned benefit is payable only if all premiums are paid as per the premium paying term and the policy is in force till the completion of entire policy term opted. Total benefit of ₹1,07,60,550 is calculated by taking the sum of all guaranteed incomes payable over the entire income duration plus the 110% Return of Premium amount payable on maturity.
$$The returns are derived basis age, gender and premium of the customer, pre-populated from the information provided at the time of filling the personal details in the calculator.
~~ICICI Pru Guaranteed Income For Tomorrow (Long-term) offers 4 options in income period namely 15, 20, 25 and 30 years. The customer can choose any plan option from the four available options. Please refer to the brochure for more details.
=Premium recommendation is based on age and annual income while the returns is derived basis age and gender of the existing customer, pre-populated from the information provided at the time of previous policy purchase.
#Save the Date:The policyholder has the option to receive GIs on any one date, succeeding the due date of first GI pay-out, to coincide with any special date such as birth date or anniversary date. This option needs to be selected at policy inception or before the completion of the premium payment term and is only available with annual mode of income. The GIs payable from the special date will be increased for the deferment period i.e. the period between the due date of first GI pay-out and the special date, at an interest rate of 3.00% p.a. compounded monthly. Any change in interest rate will be subject to prior approval from IRDAI. The last GI will be paid on the date of maturity of the policy and not on the special date. Therefore, the interest rate mentioned above shall not be applicable for the last GI.
*Tax benefits of ₹46,800 u/s 80C is calculated at highest tax slab rate of 31.20%(including cess excluding surcharge) on life insurance premium u/s 80C of ₹1,50,000. Tax benefits under the policy are subject to conditions under Section 80C, 80D,10(10D), 115BAC and other provisions of the Income Tax Act,1961. Good and Service tax and Cesses, if any will be charged extra as per prevailing rates. The Tax Free income is subject to conditions specified under section 10(10D) and other applicable provisions of the Income Tax Act,1961. Policies issued on or after April 01, 2023 where aggregate premium in respect of Non - Unit linked life insurance policies more than ₹ 5 lakh p.a. is not exempt u/s 10(10D) of the Income Tax Act, 1961. Tax laws are subject to amendments made thereto from time to time. Please consult your tax advisor for more details.
~Additional Benefit is offered for online sales: For Income/Assured Income Plan option, 1.5% of Guaranteed Income is applicable. For Income with 110% ROP/Assured Income with 110% ROP Plan option, 2% of Guaranteed Income is applicable.
^Guaranteed benefits are payable subject to all due premiums being paid and the policy being in force on the date of maturity.
¶ICICI Pru Guaranteed Income For Tomorrow (Long-term) offers four plan options namely, Income, Assured Income, Income with 110% ROP, Assured Income with 110% ROP .The customer can choose any plan option from the two available options. Please refer to the brochure for more details.
☩You can take a policy loan after your policy acquires a surrender value. The maximum loan amount will be 80% of the surrender value.
ŦThe total amount is calculated for a 30-year-old healthy male with a premium paying term of 7 years paying premiums in annual mode and income period of 15 years taking income in annual installment under Assured Income plan option. The premium shown is exclusive of taxes and the mentioned benefit is payable only if all premiums are paid as per the premium paying term and the policy is in force till the completion of entire policy term opted. Total benefit is calculated by taking the sum of all guaranteed incomes payable over the entire income duration.
℮The total amount is calculated for a 30-year-old healthy male with a premium paying term of 7 years paying premiums in annual mode and income period of 15 years taking income in annual installment under Assured Income with 110% ROP plan option. The premium shown is exclusive of taxes and the mentioned benefit is payable only if all premiums are paid as per the premium paying term and the policy is in force till the completion of entire policy term opted. Total benefit is calculated by taking the sum of all guaranteed incomes payable over the entire income duration and the 110% return of premium benefit.
ⱵThis illustration is for a 30 year old male paying premium of Rs. 15,000 per month and taking income in annual mode under the 'Assured Income with 110% ROP' plan of ICICI Pru Guaranteed Income For Tomorrow (Long-term). 4.28X is calculated by taking the sum of all benefits payable and dividing it by the total premiums paid.
^^Data regarding AUM is as per Annual Report of the Company for FY2022.
%58.1 mn lives covered across our individual and group customers as per ICICI Prudential Life Council Report .
`Average turnaround time for non-investigated retail death claims from receipt of last requirement as per Annual report for FY2022.
``Bonus declared for policyholders of participating policies: Source - https://www.livemint.com/companies/news/icici-prudential-declares-highest-ever-annual-bonus-of-rs-968-8-cr-to-policyholders-for-fy22-11655724841277.html
++6.59% is the is the IRR (internal rate of return) calculated not considering taxes chargeable on premiums paid for a 30 year old healthy male selecting Annual Premium as ₹1,00,000 Premium payment term as 10 years, policy term of 41 years and income period of 30 years taking income in annual instalment under Income with 110% ROP plan option.
∞Policies issued on or after April 01, 2023 where aggregate premium in respect of Non - Unit linked life insurance policies more than ₹ 5 lakh p.a. is not exempt u/s 10(10D) of the Income Tax Act, 1961. 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.
Comp Code: COMP/DOC/Feb/2023/72/2211.
ICICI Prudential Life Insurance Company Limited. IRDAI Regn No. 105. CIN: L66010MH2000PLC127837. ICICI PruLife Towers, 1089, Appasaheb Marathe Marg, Prabhadevi, Mumbai-400025. For more details on the risk factors, terms and conditions, please read the sales brochure carefully before concluding a sale. For enquires related to new policies purchased online, please call us on 1-860-266-7766 and select option 4 on our Interactive Voice System. Trade Logo displayed above belongs to ICICI Bank Ltd & Prudential IP services Ltd and used by ICICI Prudential Life Insurance Company Ltd under license. UIN:105N185V12. Advt. No.: W/II/2204/2022-23
BEWARE OF SPURIOUS / FRAUD PHONE CALLS!
IRDAI is not involved in activities like selling insurance policies, announcing bonus or investment of premiums. Public receiving such phone calls are requested to lodge a police complaint.