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

5 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

• Single Life with Booster Payouts:

  As one grows older, along with the need for income, it is also essential to have access to supplementary funds to take care of the unplanned expenses. This annuity option pays annuity to the Annuitant for his entire life after the end of the deferment period chosen by you and also gives him Booster payouts
  
  Please note:
  a) The first Booster payout will be done on the 5th policy anniversary after the end of deferment period. Thereafter, Booster payouts will be done every 5 years on policy anniversary.
  b) A maximum of 5 such payouts will be made to the Annuitant.
  c) The amount of each Booster payout will be equal to 10% of the Total Premiums Paid (excluding top up premium)
  
  Please note that Booster payouts are not additional payouts and the Death Benefit payable will be reduced by the extent of Booster payouts already made
  
  In case of death of the Annuitant, Death Benefit1 is payable to the nominee. Thereafter, no further benefits would be payable and the policy shall terminate

• Single Life with Accelerated Health Boosters:

  One of the realities of ageing is the fact that many people may need help at some point to be able to carry out activities of everyday living. This annuity option is applicable for such cases
  
  Under this option, annuity starts getting paid for Annuitant’s entire life after the end of the deferment period. If at any point the Annuitant is diagnosed with the need for assistance in daily living, the annuity amount increases by an additional amount (“Accelerated Health Boosters”).
  
  Please note:
  a. On diagnosis of an inability to perform at least 3 of the 6 specified Activities of Daily Living², Annuitant’s annual annuity payable will increase by an additional amount equal to 10% of the Total Premiums Paid by you (excluding top up premium) and will be payable for a period of 10 years or till the date of death of the Annuitant, whichever is earlier. Annuity (including this additional amount) will be payable as per the annuity payout mode chosen by you.
  b. The base annuity will continue to be paid for life of the Annuitant even after cessation of additional amount payable.
  c. The Annuitant will start receiving this benefit only after the end of deferment period or on his attaining age 60 years, whichever is later. This benefit can be claimed up to the age of 80 years
  
  On death of the Annuitant, Death Benefit¹ shall be payable to the nominee. Thereafter, no further benefits would be payable and the policy shall terminate

Boundary Conditions:

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