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ICICI Pru GPP Flexi

Guaranteed1 lifelong income with regular investment

100% Guaranteed> moneyback anytime

0.5% extra annuity and higher surrender benefit online+

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100% Guaranteed~ Lifelong Annuity

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Customisable Premium Payment Term

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Return of premium option1

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Multiple Annuity Options

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~Conditions Apply

Pay ₹10,000 p.m and get ₹13,063 p.m# guaranteed for life + ₹18L# back

Please Provide Annuitant details
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click hereBy not undergoing the suitability analysis, you confirm to purchase the policy based on your independent assessment of the suitability of the product.If you wish to be redirected to calculate your premium without sharing your personal details, click here

What is ICICI Pru Guaranteed Pension Plan Flexi?

ICICI Pru Guaranteed Pension Plan Flexi is a deferred annuity plan which gives the opportunity to create guaranteed~ lifelong income with a stress-free regular investment of your choice. There are a total of 9 different annuity options that you can choose from. The option you select will decide what kind of lifelong regular income you will receive under the ICICI Pru Guaranteed Pension Plan Flexi

Recommended For

Saving regularly to create a guaranteed~ lifelong income

Creating a second income source with ease

Gifting a lifelong income to your spouse/parents

Finding retirement indulgences- traveling, pilgrimage, hobbies, etc

Meeting rising healthcare costs

Maintaining your lifestyle for life ahead

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How the plan works?

Everything you need to know

Two Minute Overview

This plan is to save systematically from your income to create a guaranteed~ lifelong annuity.

  • You can pay premiums for min 5 years to a maximum of 15 Years
  • Deferment period will be for min 5 years to maximum of 15 Years. Deferment period starts from the inception of the policy
  • With the joint-life option, the annuity will be continued to 2nd annuitant
  • With the ROP(Return of premium) option, your nominee gets back all your premiums paid after you

More the deferment higher the returns that you fetch.

Plan Snapshot

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Min. Age at Entry

40- Primary; 30- Secondary

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Max. Age at Entry

70 Years

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Plan Options

Total 7

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Joint Life

Immediate family member

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Min. Annuity

₹12,000 p.a. or ₹1000 p.m.

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Payment Frequency

Limited Pay/ Regular Pay

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Premium Payment Term

5- 15 Years

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Deferment Options

5-15 years

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Critical Illness/ Permanent Disability Benefit$

Yes

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Special Withdrawal feature4

Lumpsum

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Death Benefit Payout options

Lumpsum/Income for a fixed period

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Waiver of premium option3

Yes

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Top-ups allowed7

Yes

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Loan Facility

Yes

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Benefit enhancer+

Yes

Mr. & Mrs. Desai

Age : 50 & 48

Decide to save

Rs. 10 lacs per year for 5 years under Joint Life with Return of Premium

₹50 lakhs paid out to nominee

Pay ₹10L for 5yrs Total ₹50L
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Deferment period

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Age 55

Age 50

Chooses ICICI Joint life plan without Return of Premium

Annuity paid every year :₹4,67,769

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Age 61

Mr & Mrs. Desai start recieving annuity every year

Annuity paid to second annuitant every year : ₹4,67,769

-coin-coin-coin-coin-coin-

Age 80

Death of Mr.Desai (Primary Annuitant)

Age 93

Death of Mrs.Desai (Secondary Annuitant)

charge

Higher purchase price benefit (HPPB)

Just increase your premium slightly or choose higher deferment period to get higher annuity for life

Glossary

Annuity

Deferment Period

Annuitant/Primary Annuitant

Secondary Annuitant

Return of Premium Option

Guaranteed~ Additions

Save the Date

Waiver of premium

Special Withdrawal feature

Benefit Enhancer

Annuity
An annuity is an agreement between an individual and an insurance company where the company promises to provide you regular income (also commonly known as pension) in return for your premium contributions. Irrespective of the type of annuity variant you have, you receive annuity payments for your entire life.
Deferment Period
It is the period between the start of your policy and the time at which the first annuity is paid out
Annuitant/Primary Annuitant
Annuitant (or Primary Annuitant) is the person who is entitled to receive the benefits from an annuity plan.
Secondary Annuitant
Some annuity plans let you add another beneficiary to your policy called the Secondary Annuitant, who is entitled to continue receiving the benefits from the annuity plan after the primary annuitant passes away. It is a general practice to add your spouse as your Secondary Annuitant to ensure that they are financially secured and independent after you.
Return of Premium Option
Return of Premium Option is an additional feature that lets the chosen nominee get 100% of the Purchase Price back in case of the death of the annuitant(s). The annuitant can also get back the Purchase Price at a specified age OR on diagnosis of CI/PD, depending on the plan option chosen
Guaranteed~ Additions
Guaranteed additions (GA) will accrue at the end of each month from inception until the end of the deferment period, provided all due premiums have been paid. The accrued GA are payable as part of death benefit, wherever applicable.
Save the Date
At the time of buying the policy, you can choose to receive the annuity on any one date, to coincide with any special date.
Waiver of premium
This option is available with Joint-life option only. On the demise of the primary annuitant, the remaining due premiums will be paid by IPRU and annuity will be given to 2nd annuitant for the rest of his/her life
Special Withdrawal feature
Encash up to 60% of the Total Premiums Paid till date as a lumpsum at the end of the deferment period and also get future annuity payments.
Benefit Enhancer
An Additional annuity of 0.50%+ Enhanced benefit will be offered on surrender anytime from date of commencement of policy to the end of the Deferment Period
Annuity
Deferment Period
Annuitant/Primary Annuitant
Secondary Annuitant
Return of Premium Option
Guaranteed~ Additions
Save the Date
Waiver of premium
Special Withdrawal feature
Benefit Enhancer
Annuity
An annuity is an agreement between an individual and an insurance company where the company promises to provide you regular income (also commonly known as pension) in return for your premium contributions. Irrespective of the type of annuity variant you have, you receive annuity payments for your entire life.
Deferment Period
It is the period between the start of your policy and the time at which the first annuity is paid out
Annuitant/Primary Annuitant
Annuitant (or Primary Annuitant) is the person who is entitled to receive the benefits from an annuity plan.
Secondary Annuitant
Some annuity plans let you add another beneficiary to your policy called the Secondary Annuitant, who is entitled to continue receiving the benefits from the annuity plan after the primary annuitant passes away. It is a general practice to add your spouse as your Secondary Annuitant to ensure that they are financially secured and independent after you.
Return of Premium Option
Return of Premium Option is an additional feature that lets the chosen nominee get 100% of the Purchase Price back in case of the death of the annuitant(s). The annuitant can also get back the Purchase Price at a specified age OR on diagnosis of CI/PD, depending on the plan option chosen
Guaranteed~ Additions
Guaranteed additions (GA) will accrue at the end of each month from inception until the end of the deferment period, provided all due premiums have been paid. The accrued GA are payable as part of death benefit, wherever applicable.
Save the Date
At the time of buying the policy, you can choose to receive the annuity on any one date, to coincide with any special date.
Waiver of premium
This option is available with Joint-life option only. On the demise of the primary annuitant, the remaining due premiums will be paid by IPRU and annuity will be given to 2nd annuitant for the rest of his/her life
Special Withdrawal feature
Encash up to 60% of the Total Premiums Paid till date as a lumpsum at the end of the deferment period and also get future annuity payments.
Benefit Enhancer
An Additional annuity of 0.50%+ Enhanced benefit will be offered on surrender anytime from date of commencement of policy to the end of the Deferment Period

Steps to buy Life Insurance

Create your Savings Plan
Fill Application Form
Make Payment & Upload Documents
Policy Issued

Need Help? Call us Today

Why Choose ICICI Prudential life?

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₹ 2.94 Lakh crore

Assets Under Management as on March 31, 202418

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3%

Average bonus rate for the last six years o

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₹ 968.8 Crores

Bonus declared for policyholders ``

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1 Day<

Claim Settlement

Frequently Asked Question

Why you should have ICICI Pru GPP Flexi plan in your portfolio?

When will my income begin?

How this plan can help people who are still working but want to plan for their retirement?

How this plan can help maintain my lifestyle even after retirement?

Does this plan help me get more promising benefits for retirement worries?

What is the difference between the ICICI Pru GPP plan and ICICI Pru GPP Flexi?

Is there an option for a top-up?

Can a loan be availed against the policy?

Is Cancellation in the Free Look period allowed?

What are the Tax Benefits Accompanying Pension Plans in India?

10 Things to know about annuity

1

Annuity covers the risk of you living too long with a guaranteed~ income

2

Annuity income is guaranteed ~ irrespective of any market ups and downs or external circumstances

3

In our annuity plans, your funds are invested in a mix of highly rated instruments backed by intense research and analysis

4

Your income stays guaranteed ~ in case of any unfavorable external circumstances

5

Joint-life with the return of premiums option makes a family income plan

6

The longer you live, the more is the total income you’ll receive.

7

You can choose to receive your income payouts monthly, quarterly, half-yearly, or yearly

8

No prior medicals are required for the standard options^^^

9

An annuity can be purchased for you or your loved one who might be dependent upon you

10

Single pay annuities can be classified as an immediate and deferred basis when income starts

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