ICICI Pru Saral Pension Plan Calculator

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Pay ₹50 Lakh once
Get ₹ 3.63+ annually as Pension + ₹ 50 Lakh returned to the nominee
Online Pension Calculator
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You can lead a comfortable and stress-free life, as this plan assures a Guaranteed~ pension for as long as you live.
PLANNING AHEAD

Why Invest in a Pension Plan?

When it comes to planning for your retirement, a pension plan is a dependable investment...Read More
ICICI PRUDENTIAL PROMISE
Why ICICI Pru Life
Family
7.72 Cr%

Crore Lives covered as on 31st March 2023

Flexible Invest
204.5%a

Solvency Ratio

Flexible Withdrawals
Relationship Manager

Dedicated relationship manager provided to you for end-to-end assistance

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30 days return policy

If not satisfied, return (free look) the policy and get your money back

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What is ICICI Pru Saral Pension Plan?

ICICI Pru Saral Pension is a simple and standard single-premium immediate annuity (Pension) plan, easy for customers to understand and purchase. There are two different lifelong annuity (pension) options you can choose from. The option you select will decide the kind of regular pension you will receive under the ICICI Pru Saral Pension.
StarTwo2 different pension plan options
ALL ABOUT THE PLAN

How The Plan Works

img
Meet Mr. Sharma
He is a 59-year-old tech professional nearing retirement

In the second innings of his life,
He wants to ensure an inflation-proof guaranteed~ steady pension which he can eventually use to fulfill his dream of a world tour.
ICICI Pru Saral Pension Plan - Life Annuity with Return of 100% of Purchase Price
SharmaTimeline
Age 59
He decides to make a one-time investment of ₹25 lakh
Age 60
He starts receiving Pension annually
Mr. Sharma plans a world tour
Age 87
Unfortunate demise of Mr.Sharma
Pension of ₹1.72 lakh starts arrow
PouchCoins
His son (nominee) Suraj receives 100% of the initial invested amount i.e. ₹25 lakh, thus creating a legacy for the one who matters the most.
Key Features

Why Financial Experts Want This For You?

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Guaranteed~ Lifelong Pension
Pay once and get lifelong guaranteed~ pension starting from as early as next month. You can either choose how much pension you want to receive every month or how much you want to pay (purchase price)
Spouse Cover
Cover Your Spouse
Lifelong pension for yourself and your spouse with Return of 100% of the amount invested (purchase price) to your nominee. Pension will continue as long as either of the pensioneers are alive.
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Return of Purchase Price
100% of purchase price will be paid out to your nominee in case of death so that your legacy continues. This feature is part of both the plan options
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Medical Emergency Liquidity
Get 95% of the amount you have invested back, in case you get diagnosed with any of the specified critical illnesses. To know more about these illnesses
Click here.
Renewable
Flexible Payout Options
Choose how you want to receive your pension as per your needs
Loan
Loan4 Against Policy
In case of financial or medical emergencies you can avail a loan 4 against your policy; you can do this any time after six months from the commencement of the policy
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Tax# Benefits
Enjoy tax# benefits on premiums paid u/s 80CCC of the Income Tax Act, 1961
Made for you

Recommended For

Nearing retirement
Nearing retirement
People who are nearing retirement can invest in a pension plan to ensure a steady source of pension for the second innings of their lives
₹ 25 Lakh Once
₹ 1.65 Lakh++ annually as Pension + ₹ 25 Lakh returned to the nominee
Online benefits

Why should you buy online?

Everything Upfront
Book
Transparency of information
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Get 1% extra* Pension
Video Call Service
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Real-time assistance from the comfort of your home
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Dedicated relationship manager provided to you
ICICI PRUDENTIAL LIFE PROMISE

Planned investments need not be complicated.

Frequently asked questions about Pension Plan

What is the Saral Pension Plan ?

Saral Pension plan is a single premium immediate annuity plan introduced by the IRDAI. The plan offers annuity (pension) payout options starting immediately with one time investment. It is offered by different insurance companies with their prefix. However, the basic plan is the same.

What all Critical Illnesses are covered in this plan ?

A total of 20 Critical illnesses are covered under the plan. You can surrender the policy and get 95% of your purchase price on diagnosis of any of these critical illnesses. For definition of illnesses covered and terms & conditions, please refer to the product brochure.

~Your pension is informed to you when you buy the plan and is assured or guaranteed and unchanged for life.
*You can get an additional pension of 1% on the purchase price when you buy online. Loyalty Booster and Online Booster cannot be taken together.
1Joint Life will be the spouse of the primary annuitant
2The policy can be surrendered any time after six months from the date of commencement, if the annuitant/ primary annuitant/secondary annuitant or the spouse or any of the children of the annuitant is diagnosed as suffering from any of the specified critical illnesses. For more details on the risk factors, term and conditions please read the product brochure carefully before concluding the sale
32 immediate pension options available, namely
(a) Life Pension with Return of 100% of Purchase Price (ROP),
(b) Joint life Last Survivor Pension with Return of 100% of Purchase Price (ROP) on death of the last survivor
4Loan can be availed any time after six months from the date of commencement of the policy. Maximum amount of loan that can be granted under the policy shall be such that the effective annual interest amount payable on loan does not exceed 50% of the annual pension amount payable under the policy. For further details, please refer to the policy document.
6The given pension amount has been calculated where the Primary Annuitant is a 60-year-old male, and the Secondary Annuitant is a 55-year-old female. The Purchase Price is 30 Lakhs(without GST), and the option chosen is Joint Life Last Survivor with ROP and assuming a life expectancy of 100 years for both primary and secondary annuitant. The amount is a summation of the total pension payable plus the purchase price received by the nominee on death of the annuitants
7For more information on higher purchase price benefit, please refer to the product brochure
8Flexibility to receive annuity monthly, quarterly, half-yearly or yearly
+The given pension amount has been calculated for a male of age 55 and Purchase Price: 50 Lakhs(without GST), choosing the Life Pension with ROP option and assuming a life expectancy of 85 years. The amount is a summation of the total pension payable plus the purchase price received by the nominee on death of the annuitant
#Tax benefits are subject to conditions under Section 80C, 80CCC, 115BAC and other 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.
%7.72 crore lives covered across our individual and group customers as per ICICI Prudential Life Council Report.
^This pension amount has been calculated for Primary Annuitant who is 60-year-old male and the Secondary Annuitant who is a 55-year-old female. The Purchase Price is 11 Lakhs(without GST), and the option chosen is Joint Life Last Survivor with ROP.
++The given pension amount has been calculated where the Primary Annuitant is a 60-year-old male, and the Secondary Annuitant is a 55-year-old female. The Purchase Price is 25 Lakhs(without GST), and the option chosen is Joint Life Last Survivor with ROP.
-The given annuity amount has been calculated for a male of age 60 and Purchase Price: 50 Lakhs(without GST), choosing the Life Annuity with ROP option and assuming a life expectancy of 85 years.The amount is a summation of the total annuity payable plus the purchase price received by the nominee on death of the annuitant.
^^The given Pension amount has been calculated for a male of age 60 and Purchase Price: 30 Lakhs (without GST), choosing the Life Annuity with ROP option and assuming a life expectancy of 85 years. The amount is a summation of the total annuity payable plus the purchase price received by the nominee on death of the annuitant.
&The given annuity amount has been calculated for a male of age 50 and Purchase Price: 10 Lakhs(without GST), choosing the Life Annuity with ROP option and assuming a life expectancy of 85 years.The amount is a summation of the total annuity payable plus the purchase price received by the nominee on death of the annuitant.
ICICI Pru Saral Pension, UIN. 105N184V07 Advt. No.: W/II/0977/2023-24
© ICICI Prudential Life Insurance Co. Ltd. All rights reserved. Registered with Insurance Regulatory & Development Authority of India (IRDAI) as Life Insurance Company. Regn. No. 105. CIN: L66010MH2000PLC127837.
Reg. Off.: ICICI PruLife Towers, 1089 Appasaheb Marathe Marg, Prabhadevi, Mumbai 400025. Tel.: 40391600. Customer helpline number - 1860 266 7766. Timings – 10:00 A.M. to 7:00 P.M., Monday to Saturday (except national holidays). Member of the Life Insurance Council. For more details on the risk factors, term and conditions please read the product brochure carefully before concluding the sale. Trade Logo displayed above belongs to ICICI Bank Ltd & Prudential IP services Ltd and used by ICICI Prudential Life Insurance Company Ltd under license.

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