India has undergone a transformative change in the past couple of decades, with better standard of living and improved healthcare facilities. Consequently, the life expectancy has also increased. A longer life means many more moments of happiness for you, but it also needs you to be better prepared financially to ensure that you enjoy a relaxed life after retirement.

Presenting ICICI Pru Guaranteed^{^^} Pension Plan Flexi, a plan designed to help you gradually build a retirement savings and get a lifelong guaranteed^{^^} income post retirement. In addition to the regular income, the plan also offers options that give you access to lump sum payouts to address your healthcare and lifestyle needs.

Plan for your retirement in the right way, and ensure that you retire from work and not from life!

^{^^} T&C Apply

Key features of ICICI Pru Guaranteed^{^^} Pension Plan Flexi

3 simple steps to get started on the journey towards your retirement planning:

And there you go, your retirement planning is sorted!

Brief on the different annuity options

The plan offers 7 options to choose from as per your retirement needs:

• Single Life without Return of Premium:

  In this option, annuity starts at the end of the deferment period chosen by you and the amount will be paid for Annuitant’s entire life.
  
  If the Annuitant passes away during the deferment period, a benefit amount known as Death Benefit¹ shall be payable to the nominee. On death of the Annuitant after the deferment period, no Death Benefit would be payable and the policy shall terminate

• Joint Life without Return of Premium:

  The difference between a Single life option and a Joint Life option is that in a Joint Life option, the annuity is paid not only for Primary Annuitant’s entire life, but on death of the Primary Annuitant, the annuity amount continues to be paid to the Joint Life (known as the Secondary Annuitant) chosen by you. The Secondary Annuitant can be the Primary Annuitant’s spouse/ child/ parent or sibling. On the death of the Secondary Annuitant, no further benefits would be payable and the policy shall terminate
  
  In case of death of both Primary and Secondary Annuitants during the deferment period, a benefit amount known as Death Benefit1 shall be payable to the nominee. Thereafter, no further benefits would be payable and the policy shall terminate. In case of death of either Primary or Secondary Annuitant after the deferment period, no Death Benefit will be payable
  
  In case Waiver of Premium benefit option is chosen, the Total Premiums Paid would include premiums waived off due to trigger of Waiver of Premium benefit

• Single Life with Return of Premium:

  Similar to the first plan option, here too the annuity starts at the end of the deferment period chosen by you and the amount will be paid for Annuitant’s entire life. In case the annuitant passes away, Death Benefit¹ would be payable to the nominee and the policy shall terminate

• Joint Life with Return of Premium:

  Similar to the second plan option, here too the annuity starts at the end of the deferment period chosen by you and the amount will be paid for Primary Annuitant’s entire life. After the death of the Primary Annuitant, the annuity amount continues to be paid to the Secondary Annuitant
  
  On the death of the Secondary Annuitant, the Death Benefit¹ shall be payable to the nominee. Thereafter, no further benefits would be payable and the policy shall terminate
  
  In case Waiver of Premium benefit option is chosen, the Total Premiums Paid would include premiums waived off due to trigger of Waiver of Premium benefit

• Single Life with Return of Premium (ROP) on Critical Illness (CI) or Permanent Disability due to Accident (PD) or Death:

  This option pays annuity to the Annuitant after the end of deferment period. Annuity will continue for life till the first diagnosis of any of the 7 specified CI or PD, before the age of 80 years, or death whichever occurs earlier. Death Benefit² will be payable on death or occurrence of any of the 7 Specified CI or PD based on the age of the Annuitant. Please refer the product brochure for more details

• Increasing Annuity for Single Life with Return of Premium:

  With this annuity option, you receive regular payments for life after the deferment period ends. What makes this plan special is that your annuity amount increases by 5% simple interest each year based on the amount you receive in the first year. This annual increase is designed to help you keep up with inflation and rising living costs, ensuring that your purchasing power remains strong over time.
  
  By choosing this option, you enjoy greater financial security and peace of mind, knowing that your income will grow each year to help cover your rising expenses.
  
  Annuity paid out after date of intimation of death will be adjusted from the Death Benefit and the net amount will be paid to the claimant.
  
  After payment of Death Benefit, all rights, benefits and interests under the policy will stand extinguished and the policy shall terminate.
  

• Increasing Annuity for Joint Life with Return of Premium:

  Similar to ‘Joint Life with Return of Premium’, with this option, you start receiving the annuity income after the deferment period you choose. The annuity will be paid for the entire life of the Primary Annuitant. However, with this plan, the annuity amount increases by 5% simple interest each year based on the amount you receive in the first year after the deferment period ends.
  
  The Secondary Annuitant must have a close relationship with the Primary Annuitant, such as being their spouse, child, parent, or sibling. The Secondary Annuitant needs to be at least 30 years old at the time of the start of the policy.
  
  After payment of the Death Benefit, all rights, benefits and interests under the policy will stand extinguished and the policy shall terminate.
  

Boundary Conditions:

• Special Withdrawal^#

  Special withdrawal^# offer you the flexibility to access up to 60% of the total premiums you’ve paid (excluding any previous withdrawals) over the lifetime of your policy. You can take this amount as a lump sum while still continuing to receive your annuity payments.
  
  By choosing a special withdrawal^#, you can get immediate access to funds when you need them the most. This can be particularly helpful for unexpected expenses or financial emergencies. However, please note that taking a special withdrawal will reduce your future annuity income and other benefits under the policy.
  
  This option provides you with financial flexibility and peace of mind, knowing you have access to funds if needed, while still maintaining a steady income stream
  

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