Why is ICICI Pru Anmol Bachat special?

You have the freedom to choose the number of years you want to pay premiums for.

Premium Payment Term (PPT) Policy Term
Single Pay 5 or 10 years
5 years 10 years
7 years 10 years
10 years 10 or 15 years

The Regular/Limited Pay option even allows you the convenience to select the frequency of premiums in a policy year.

Adding to the comfort of choosing the number of premium paying years, you can handpick the times you want to pay such as once a year, twice a year or every month.

Moreover, the Company offers you flexible premium payment options viz.- 5 pay , 7 pay and 10 pay.

Planning for the life events of your loved ones just got easier. With Anmol Bachat, you receive a guaranteed pay-out along with accrued bonuses when the policy matures. This corpus can be utilised at important milestones like your child’s education, their marriage or that much-awaited vacation.

 

How much Maturity Benefit do I get?

If you have paid regular premiums and survived the end of the policy term, you will receive:

Maturity Benefit, which is higher of A or B, where:

  • A = Guaranteed Maturity Benefit (plus vested Reversionary Bonuses and Terminal Bonuses, if any)

  • B = 100.1% of total premiums paid (excluding any extra Mortality Premium and taxes)

Your Guaranteed Maturity Benefit will be set at policy inception and will depend on age at entry, policy term, premium payment term and gender and maybe lower than your Sum Assured on death. All policy benefits cease on payment of the maturity benefit. Reversionary bonus, if any, will be declared each year during the term of the policy starting from the first policy year.

In case of an unfortunate event of your death, ICICI Pru Anmol Bachat supports your family. Your loved ones will receive a pay-out called the Death Benefit that helps them to fulfil their financial needs

 

How is the Death Benefit calculated?

Death Benefit = Higher of

  • Sum Assured on Death, plus subsisting bonuses* already accrued

  • 105% of all the premiums paid as on date of death

Sum Assured on Death for Single Pay policy is defined as, highest of

  • Sum assured multiple X Single Premium

  • Minimum guaranteed sum assured on maturity

  • Absolute amount assured to be paid on death

Sum Assured on Death for Limited / Regular Pay policy is defined as, highest of

  • Sum assured multiple X Annualized Premium

  • Minimum guaranteed sum assured on maturity

  • Absolute amount assured to be paid on death

Where, Sum Assured Multiple is as per the table below.

  Sum Assured Multiple
Single Premium and age at entry < 45 years 1.25
Single Premium and age at entry >= 45 years 1.1
RP and LP and age at entry < 45 years 10
RP and LP and age at entry ≥45 years 7

In case of death due to an accident, additional lump sum equal to the absolute amount assured to be paid on death as chosen by the policyholder will be payable. 

*Bonuses consist of subsisting reversionary bonuses, interim bonus and terminal bonus, if any.

Enjoy Tax benefits avail exemptions of up to 1.5 Lakhs on the premium paid. Also, on maturity you get tax-free lump sum pay-out in the form of maturity amount.

How do I avail tax benefit on the premium paid

You can claim deduction of life insurance premium paid from your taxable income as per the provisions under section 80C. The overall limit of exemption under section 80C is 1, 50,000/-.

How will the money I get on maturity be tax free?

Payout received on maturity may be taxable as per prevailing tax laws.

Enjoy the safety of a life cover based on your desired level of protection.

Product Snapshot

ICICI Pru Anmol Bachat – a plan that protects and grows your savings and provides you a life cover. Under this plan, you have the flexibility to choose a premium payment term based on your needs.

How many years do I have to pay premiums for?

The premiums have to be paid for 10 years.

What is the duration of the policy?

The policy will last for 10 or 15 years.

How much can I invest?

You can pay Minimum annual premium of 2400 p.a. and maximum annual premium of 12,000 p.a.

At what age can I start investing in this plan?

You can start investing from the age of 18. The maximum age to start investing in this plan is 55 years for policy term of 15 years and 50 years for policy term of 10 years.

How many years do I have to pay premiums for?

The premiums have to be paid for seven years.

What is the duration of the policy?

The policy will last for 10 years

How much can I invest?

You can pay Minimum annual premium of 2400 p.a. and maximum annual premium of 12,000 p.a.

At what age can I start investing in this plan?

You can start investing from the age of 18. The maximum age to start investing in this plan is 50 years

How many years do I have to pay premiums for?

The premiums have to be paid for five years.    

What is the duration of the policy?

The policy will last for 10 years.

How much can I invest?

You can pay Minimum annual premium of 2400 p.a. and maximum annual premium of 12,000 p.a.

At what age can I start investing in this plan?

You can start investing from the age of 18. The maximum age to start investing in this plan is 40 years 

How many years do I have to pay premiums for?

The premium has to be paid once

What is the duration of the policy?

You can choose for the policy to last either 5 years or 10 years

How much can I invest?

You can pay Minimum single premium of 2400 and maximum premium single of 12,000.

At what age can I start investing in this plan?

You can start investing from the age of 18. The maximum age to start investing in this plan is 60 years

 

Disclaimer: These illustrations are for a healthy male life assured. “If your policy offers guaranteed returns, then these will be clearly marked “guaranteed” in the Benefit Illustration on this page. The maturity benefit of your policy is dependent on a number of factors, including future performance. The above are illustrative maturity values, net of all charges, service tax and education cess.

*Exclusive of service tax and cesses

Tax benefits under the policy are subject to conditions under the provisions of the Income Tax Act, 1961. Applicable taxes will be charged extra, as per applicable rates. The tax laws are subject to amendments from time to time. UIN: 105N139V02. W/II/0755/2016-17 
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