ICICI Pru Saral Pension Plan Calculator

Immediate Annuity Plan

Retirement made SARAL with
ICICI Pru Saral Pension

Pay ₹25 Lakh once and get ₹86.6 Lakh+ in return

percent

Get more annuity with the same investment - 1% extra annuity on buying online*

  • Lifelong guaranteed~ income
  • Higher Purchase Price Benefit7
  • Option for single or joint lives1
  • Return of Purchase Price to nominee
percent

Get more annuity with the same investment - 1% extra annuity on buying online*

Pay ₹25 Lakh once and get ₹86.6 Lakh+ in return

Online Pension Calculator

Online Pension Calculator

Please Provide annuitant Details

Gender
I will invest (One time investment)

What is ICICI Pru Saral Pension?

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

Benefits of ICICI Pru Saral Pension

Guaranteed~ lifelong pension

Pay once and get lifelong guaranteed pension starting from as early as next month

2 annuity options3

Choose to take the annuity for single life or joint life1

Higher Purchase Price Benefit7

Enjoy higher income by increasing the purchase price with which you buy the annuity

Return of Purchase Price

Get 100% purchase price back on death and leave behind a legacy for your family

Critical Illness Benefit2

Get 95% purchase price back on diagnosis of any of the specified critical illnesses by surrendering the policy

Flexible payout options

Choose from 4 different payout options as per your needs: monthly / quarterly / half-yearly / yearly

Loan against policy4

Avail a loan against your policy any time after six months from the commencement of the policy

Tax benefits#

Enjoy tax benefits# on premiums paid u/s Section 80CCC of Income Tax Act, 1961

lower-sitting

How this plan works?

There are 2 annuity options available under ICICI Pru Saral Pension:
Life Annuity with ROP This option pays Annuity for life of the annuitant. On death of the Annuitant, the Purchase Price is paid out to the nominee and thereafter the policy terminates and no further benefits are payable. Joint life Last Survivor Annuity with Return of 100% of Purchase Price (ROP) on death of the last survivor This option pays Annuity for life as long as either of the Annuitants are alive. On death of both the Annuitants, Purchase Price is paid out to the nominee and thereafter the policy terminates and no further benefits are payable.

How this plan works?

Benefit Illustration

There are 2 annuity options available under ICICI Pru Saral Pension:

Life Annuity with Return of 100% of Purchase Price (ROP):

This option pays Annuity for life of the annuitant. On death of the Annuitant, the Purchase Price is paid out to the nominee and thereafter the policy terminates and no further benefits are payable.


Illustration 1

Mr. Sharma is a 55-year-old IT professional who is planning for his retirement using his lifelong earnings. He desires to have a regular flow of income even after he stops working so that he is able to maintain his current standard of living post retirement.

He purchases ICICI Pru Saral Pension – Single Life Immediate Annuity for life. He pays a single premium of ₹25 Lakh (exclusive of GST and other taxes) and chooses the yearly annuity payment mode. He starts receiving an annual income of ₹1.54 Lakhs.

Age 55 years Age 56 years
start getting yearly annuity
Age 56 years start getting yearly annuity

Single premium Invested

₹ 25 Lakh

Rupee

maturity-amount
maturity-amount
maturity-amount
maturity-amount

For Life

Starts receiving an annual income of

₹ 1.54 LAKHS
info If Mr. Sharma lives up to the age of 100 years, he will receive a total payment of ₹69.2 Lakhs in pension payments. When he passes away, his nominee will receive a death benefit of ₹25 Lakh (100% purchase price is paid back to the nominee)
Comfortable Retirement

Joint life Last Survivor Annuity with Return of 100% of Purchase Price (ROP) on death of the last survivor:

This option pays annuity for life of the primary annuitant. On death of the primary annuitant, the same annuity continues for the secondary annuitant till his/her death. Post this, the Purchase Price is paid out to the nominee and thereafter the policy terminates and no further benefits are payable.


Illustration 2

Mr. Verma is a 60-year-old salaried professional who lives with his wife, who is 55 years old. He wishes to secure a comfortable and stress-free retirement life with his wife.

He purchases ICICI Pru Saral Pension – Joint Life Immediate Annuity for Life with Return of Purchase Price. He pays a single premium of ₹30 Lakhs (exclusive of GST and other taxes) and chooses the yearly annuity payment mode. He starts receiving an annual income of ₹1.84 Lakhs.

Age 60 years Age 61 years
start getting yearly annuity
Age 61 years start getting yearly annuity

Single premium Invested

₹ 30 Lakh

Rupee

maturity-amount
maturity-amount
maturity-amount
maturity-amount

For Life

Starts receiving an annual income of

₹ 1.84 LAKHS
info If Mr. and Mrs. Verma both live up to the age of 100 years, they will receive a total payment of ₹83 Lakhs in pension payments. When his wife passes away, their nominee will receive a death benefit of ₹30 Lakhs (100% purchase price is paid back to the nominee)
Financial Protection

Eligibility

The minimum age at entry for the annuitants is as follows:
Annuity Options Minimum
Age at Entry
Maximum
Age at Entry
Life Annuity with Return of 100% of Purchase Price (ROP) 40 80
Joint life Last Survivor Annuity with Return of 100% of Purchase Price (ROP) on death of the last survivor 40 80
In case of Joint life annuity, age restrictions apply to both lives.
info The minimum annuity per annum is ₹12,000, (₹1,000 per month) but there are no maximum limits.

Higher Purchase Price Benefit explained

Higher purchase price will give higher annuity
Purchase Price (₹) < 3 Lakhs >= 3 Lakhs and
< 5 Lakhs
>=5 Lakhs and
< 10 Lakhs
>=10 Lakhs and
< 25 Lakhs
>= 25 Lakhs
HPPB factor
(Saral Pension)
0.00% 0.85% 1.50% 2.15% 5.00% blue-up-arrow
HPPB factor
(GPP - IA)
0.00% 0.85% 1.50% 2.15% 2.50%
Purchase Price (₹) HPPB factor
(Saral Pension)
HPPB factor
(GPP - IA)
< 3 Lakhs 0.00% 0.00%
>= 3 Lakhs and
< 5 Lakhs
0.85% 0.85%
>=5 Lakhs and
< 10 Lakhs
1.50% 1.50%
>=10 Lakhs and
< 25 Lakhs
2.15% 2.15%
>= 25 Lakhs 5.00% blue-up-arrow 2.50%
HPPB - Higher Purchase Price Benefit, GPP - Guaranteed Pension Plan, IA - Immediate Annuity
info For Purchase Price < 25 Lakhs, under the same options, you will receive same annuity amount as is available with ICICI Pru Guaranteed Pension Plan, which has 6 more immediate annuity options to choose from.

Why Buy Online?

Intersection
Transparency
Get exactly what you see.
Reliability
All our calls are recorded.
Convenience
Buy from the comfort of your home
Instant Tax Receipts
Get tax receipts immediately
Exclusive Online Benefits
Get 1% extra annuity
Transparency
Get exactly what you see. No intermediaries, no mis-selling
Reliability
All our calls are recorded. You can hold us accountable for whatever information you are given
Convenience
Explore annuity option as per your need, and buy the plan from the comfort of your home
Exclusive Online Benefits
Get 1% extra annuity when you buy online
Instant Tax Receipts
Get tax receipts immediately on policy issuance
4 Simple Steps to Buy Online
4 Simple Steps to Buy Online
Create Your Plan
Use our online calculator to customize your pension plan and check your returns.
Fill Application Form
Fill a few details about you and answer some health related questions.
Payment & Upload Documents
Pay via a range of options to complete your purchase and upload your documents required to get your policy issued.
Plan Issued
Congratulations! Get a digital Welcome Kit as soon as the plan is issued.

ICICI Pru Saral Pension FAQs

ICICI Pru Saral Pension is offered to individual customers. This includes:

  • 1. Individuals who need income for life and want to purchase annuities from their NPS corpus
  • 2. Individuals who want to make a provision for income for life by purchasing Immediate Annuity plan from ICICI Prudential Life Insurance Company
Annuity Options Minimum
Age at Entry
Maximum
Age at Entry
Life Annuity with Return of 100% of Purchase Price (ROP) 40 80
Joint life Last Survivor Annuity with Return of 100% of Purchase Price (ROP) on death of the last survivor 40 80
The minimum annuity per annum is ₹12,000, but there are no maximum limits on this.
Benefits available with ICICI Pru Saral Pension include:

  • 1. Online Booster: Annuity will increase by 1% for policies purchased online
  • 2. Loyalty Booster: Annuity will increase by 1% for policies purchased by an existing ICICI Prudential Customer
  • 3. NPS Benefit: Annuity will increase by 1% for policies purchased using proceeds out of NPS

Customers can opt for only one of these benefits. The chosen benefit will be over and above the Higher Purchase Price Benefit.

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.
No, there is no provision for a top up in ICICI Pru Saral Pension.
Yes, loans can be availed against the policy at 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 annuity amount payable under the policy.

Under joint life option, the loan can be availed by the primary annuitant and on death of the primary annuitant, it can be availed by the secondary annuitant.
Yes. The policyholder has the option to review the policy after receipt of the policy document. If the policyholder is not satisfied with the terms and conditions of this policy, the policy document needs to be returned to the Company within 30 days, with reasons for cancellation.

Our experts are happy to answer any questions you may have

Call us at +91-2262955609

Call centre hours -

9.00 a.m. - 9.00 p.m. all days

Other Retirement Plans from ICICI Pru Life

Other Retirement Plans from
ICICI Pru Life

Immediate Annuity

ICICI Pru Guaranteed Pension Plan

  • Pay once and get Guaranteed~ Pension for Life
  • Buy online and get 1% extra throughout life
  • Get pension from next month onwards
  • Multiple Joint life options

~T&C

Deferred Annuity

ICICI Pru Guaranteed Pension Plan

  • Pay once and get Guaranteed~ Pension for Life
  • Buy online and get 1% extra throughout life
  • Deferment up to 10 years
  • Multiple Joint life options

~T&C

IN ULIPS, THE INVESTMENT RISK IN THE INVESTMENT
PORTFOLIO IS BORNE BY THE POLICYHOLDER

ICICI Pru Signature for Retirement

  • Tax-free retirement money - lumpsum or income
  • Buy online and get 0% premium allocation charges
  • Life Cover till 99 years of age (including COVID-19 claims)
  • Extra Wealth Boosters at 3.25%

T&C

~Your annuity is informed to you when you buy the plan and is guaranteed and unchanged for life.

*You can get an additional annuity of 1% on the purchase price when you buy online. NPS Benefit, 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 annuity options available, namely (a) Life Annuity with Return of 100% of Purchase Price (ROP), (b) Joint life Last Survivor Annuity 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 annuity amount payable under the policy. For further details, please refer to the policy document.

5The given annuity amount has been calculated for a male of age 55 and Purchase Price: 25 Lakhs(without GST), choosing the Life Annuity with ROP option and assuming a life expectancy of 100 years. The amount is a summation of the total annuity payable plus the purchase price received by the nominee on death of the annuitant

6The given annuity 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 annuity 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

+The given annuity amount has been calculated for a male of age 60 and Purchase Price: 25 Lakhs(without GST), choosing the Life Annuity with ROP option and assuming a life expectancy of 100 years. The amount is a summation of the total annuity payable plus the purchase price received by the nominee on death of the annuitant

#Tax benefits under the policy are subject to conditions under Section 80CCC, 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. Tax laws are subject to amendments made thereto from time to time. Please consult your tax advisor for details, before acting on the above.

ICICI Pru Saral Pension, UIN. 105N184V01 Advt. No.: W/II/3768/2021-22
ICICI Pru Guaranteed Pension Plan (Deferred Annuity), UIN 105N181V01
ICICI Pru Guaranteed Pension Plan (Immediate Annuity), UIN 105N181V01
ICICI Pru Signature, UIN 105L177V02

© 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.

BEWARE OF SUSPICIOUS PHONE CALLS AND FICTITIOUS/FRAUDULENT OFFERS
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.

0