In this policy, the investment risk in investment portfolio is borne by the policyholder

Be retirement ready! Retirement is the beginning of a new adventure. It marks the transition from a lifetime of work to a period of relaxation, exploration, and more.

But why is retirement planning crucial? Retirement planning ensures you have the resources to maintain your current lifestyle, cover unexpected expenses, pursue your passions and live a financially independent life. Knowing you’re prepared brings peace of mind and allows you to focus on making memories rather than worrying about money.

Keeping this in mind we introduce “ICICI Pru Signature Pension”

This plan is specifically designed to help you achieve your retirement goals by leveraging market-linked growth. Ensure a comfortable post-retirement life for you and your loved ones with the ICICI Pru Signature Pension plan.

Begin your retirement journey with thoughtful planning—it’s an investment in your future happiness.

About the Plan

This is a unit-linked pension plan, wherein your premium is allocated among the funds of your choice6 (equity, debt and/or balanced funds) to help you build the retirement savings. It also offers 3 portfolio strategies to help you save as per your goals and risk appetite. This is a cost-effective plan where your charges are added back to your fund value at vesting (maturity). These charges include premium allocation charge, mortality charge and policy administration charge.

At maturity, you have the option to commute upto 60% of the maturity amount completely tax free1. You must utilise at least 40% of the maturity amount to purchase an annuity plan through which you can enjoy guaranteed regular income for life.

 
 
 
 
 

7 Benefits of ICICI Pru Signature Pension

 
 
 
 
 
 
 

STEPS TOWARDS SAVING FOR YOUR RETIREMENT GOALS

 
 
 
 
 
 
 

ELIGIBILITY CRITERIA

 
 

Premium Payment Option: Limited Pay / Single Pay; Maximum Premium Payment Term allowed will be Minimum of 15 years or Policy Term minus 5 years

Premium Payment Frequency: Annual, half- yearly, monthly, single pay

Premium Payment Term (in years) Minimum / Maximum Policy Term Minimum / Maximum Age at Entry Minimum Vesting Age / Maximum Vesting Age Minimum Premium
5 – 9 Minimum: Minimum of 20 years or 80 minus Age at Entry Maximum: 62 years
Maximum: 62 years
Minimum: 18 years
Maximum: 65 years
60 years/ 80 years ₹ 1,00,000
10 – 15 ₹ 60,000
Single Pay ₹ 6,00,000
 
 
 
 
 

FUND PERFORMANCE

 
 

Please note: NA: Fund has not completed the stipulated time period

Past performance is not indicative of future performance.

 
 

FREQUENTLY ASKED QUESTIONS

 
 

What are the benefits payable on survival till the vesting date?

What is the Pension booster?

What is the death benefit available with this plan?

Under unfortunate circumstances of the Life Assured’s death, the nominee(s) will receive the higher of:
  • The Fund Value including Top-up Fund Value (if any)
    OR
  • Minimum Death Benefit (105% of the total premiums paid up to the date of death)

The nominee(s) can exercise any of the following options:

  • Withdraw the entire proceeds of the policy
    OR
  • Utilise the entire proceeds of the policy or a part thereof for purchasing an Immediate Annuity or Deferred Annuity at the then prevailing rate

What is the minimum and maximum entry age for this plan?

The minimum and maximum entry age limit are 18 and 60 years respectively.

What is the minimum and maximum vesting age for this plan?

Under this plan, the minimum vesting age is 60 years and maximum is 80 years.

What is the minimum and maximum premium paying term I can select?

You can select to pay your premiums once with the single pay option or go for the limited pay option with a minimum Premium Payment Term of 5 years. Your maximum term can be a ‘Minimum of 15 years or the Policy Term minus 5 years’.

What is the minimum and maximum premium for this plan?

The minimum premium for this plan is ₹1,00,000 for a 5-9 year Premium Paying Term, ₹60,000 for ≥ 10 year Premium Paying Term and ₹6,00,000 for Single Pay.

Can I increase or decrease the premium?

You do not have the option to increase your premiums. However, you can decrease your premiums by up to 50% of the original annualised premiums. Once reduced, the premiums cannot be increased subsequently.

Can I increase or decrease the Premium Payment Term?

You have the option to increase the Premium Payment Term, however, you cannot decrease the Premium Payment Term.

Can I postpone my vesting date?

You can postpone your vesting date by a minimum of one year. You can postpone the vesting date only till the Life Assured is 80 years of age (last birthday). The Pension Booster amount shall be payable on the revised vesting date.

What are the Annuitisation Provisions for Policy Proceeds on vesting date?

The policyholder can utilise the entire proceeds or commute up to 60% and utilise the balance amount to purchase an Immediate Annuity or a Deferred Annuity from ICICI Prudential Life at the then prevailing annuity rate.


People like you also read ...

1 A tax-free commutation of up to 60% of the vesting benefit can be availed. Tax benefits are subject to conditions under Sections 80CCC, 10(10A), 115BAC and other provisions of the Income Tax Act, 1961.

2 Past performance is not indicative of future performance

3 Top-up premiums can be paid any time except during the last five years of the policy term as long as all due premiums have been paid. A lock-in period of five years would apply for each Top-up premium for the purpose of partial withdrawals only.

5 Tax benefits would be available as per the prevailing income tax laws, subject to fulfillment of conditions stipulated therein.

6 This is allowed only under fixed portfolio strategy.

Fund Segregated Fund Identification Number (SFIN)
Pension Multi Cap Growth Fund ULIF 091 11/01/10 PMCapGro 105
Pension Opportunities Fund ULIF 092 11/01/10 POpport 105
Pension Bluechip Fund ULIF 093 11/01/10 PBluChip 105
Pension Multi Cap Balanced Fund ULIF 094 11/01/10 PMCapBal 105
Pension Income Fund ULIF 095 11/01/10 PIncome 105
Pension Money Market Fund ULIF 096 11/01/10 PMoneyMkt 105

i. Linked insurance products are different from the traditional insurance products and are subject to the risk factors.

ii. The premium paid in linked insurance policies, or the annuity offered under the annuity policies with variable annuity pay-out option are subject to investment risks associated with capital markets and publicly available index. The annuity amount/NAVs of the units may go up or down based on the performance of fund and factors influencing the capital market/publicly available index and the insured is responsible for his/her decisions.

iii. ICICI Prudential Life Insurance Company Limited is only the name of the Life Insurance Company and ICICI Pru Signature Pension is only the name of the linked insurance contract and does not in any way indicate the quality of the contract, its future prospects or returns.

iv. Please know the associated risks and the applicable charges, from your insurance agent or intermediary or policy document issued by the insurance company.

v. The various funds offered under this contract are the names of the funds and do not in any way indicate the quality of these plans, their future prospects and returns.

vi. The Linked Insurance Products do not offer any liquidity during the first five years of the contract. The policyholder will not be able to surrender or withdraw the monies invested in Linked Insurance Products completely or partially till the end of the fifth year.

ICICI Pru Signature Pension UIN:

ADVT: W/II/0804/2024-25

Back to Top