Life goals like buying a house, child’s education and a comfortable life after retirement are important goals which need proper financial planning. With a proper plan, you can receive a steady flow of income which will cover your living costs and help you fulfil your life goals. ICICI Pru Guaranteed Income For Tomorrow (GIFT) is one such protection and savings oriented life insurance plan. It provides guaranteed1 returns based on your financial needs to ensure your financial stability.

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Here’s why this plan is an excellent investment tool for every financial need.

Life Cover

Ensuring your loved ones financial wellbeing against uncertainties is the first step towards a secure financial future. GIFT provides a life cover4 so that your loved ones are always financially protected. Additionally, in case of an unfortunate event after the completion of the premium payment period, the regular income is still paid out to your loved ones, ensuring their financial independence. This income can also be converted into a one-time lump sum payout.

Guaranteed1 Benefits

The plan provides the guarantee of a fixed payout that can help you plan for future expenses. This amount is fixed at the time of purchasing the plan. You can choose to receive a lump sum payout to fund life goals such as buying property or celebrating a milestone in your life. You can also choose a monthly or yearly income option to supplement your regular earnings. Future payouts can be converted into a lump sum amount in case of any contingencies.

This plan also has a “Save the Date3” feature that allows you to choose the date on which you will receive the guaranteed1 income. This can be on any date after the due date of the first payout. The income earns an interest throughout the period between the payout due date and the date you select. This allows you to plan for a special occasion as well.

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Get Returns from 2nd Year Onwards

Under the Early Income Option, you start receiving a guaranteed1 early income from the 2nd policy year itself*. This continues till the end of the payment term, after which, you receive a larger amount as guaranteed1 income. This option is helpful in covering your everyday expenses as well.

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Loan Against Policy

Unforeseen expenses can give rise to an urgent need for funds. In such circumstances, instead of digging into your life savings or selling assets, you can take a loan against your GIFT policy**.

These loans are typically easier to get sanctioned and are processed relatively faster. Often the interest rates for such loans are lower than other forms of credit as well. Thus, with GIFT, you can quickly meet any intermediate needs for funds, such as children’s admission fees or medical expenses.

Tax2 Benefits

You can receive tax2 benefits on the premiums paid and the payouts received.

Conclusion

It becomes easier to plan for your goals when you have the assurance of receiving a guaranteed1 income. ICICI Pru Guaranteed Income For Tomorrow is one such plan that helps fulfil your goals and create a better tomorrow. Also, the life cover4 ensures that your loved ones are secured in case of an unfortunate event. Invest today and give yourself and your family the GIFT of guarantee.

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* Applicable to 5 and 7 years premium payment term only.

** As you continue paying the premiums, your policy acquires a surrender value. It is the sum you are entitled to receive if you exit from the plan before the policy end date. GIFT builds surrender value once you pay two years’ premiums in full. You can avail loan amounts up to 80% of the surrender value with your policy as a collateral. For Single Pay policies, surrender value will be acquired immediately on payment of single premium.

1 A guaranteed lump sum or regular income will be payable based on the plan option selected.

2 Tax benefits under the policy are subject to conditions under Section 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. The tax laws are subject to amendments from time to time. Please consult your tax advisor for more details.

3 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.

4 Life insurance cover is the benefit payable on death of the life assured.

ICICI Pru Guaranteed Income For Tomorrow (UIN: 105N182V02)

W/II/4949/2021-22

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