ICICI Pru Smart Insurance Plan Plus
IN ULIPS, THE INVESTMENT RISK IN THE INVESTMENT PORTFOLIO IS BORNE BY THE POLICYHOLDER
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
India is on a strong growth path, driven by a young population, rising incomes, digital advancements, and structural reforms. This makes it an ideal time to invest and align your financial goals.
While saving is important, investing is essential to grow your wealth over time. By choosing market-linked options, you can aim for inflation-beating, long-term returns. It’s also equally important to choose plans that provide tax benefits enhancing your overall gains. Selecting a plan that offers both market growth potential and tax benefits can help you build a long-term financial security with confidence.
Introducing ICICI Pru Smart Insurance Plan Plus (SIP+) – a smart, tax-efficient plan that helps you to invest in market-linked funds while securing your family’s future with a life cover. With this plan, you can enjoy the benefit of tax deductions on premiums paid and potential tax-free maturity benefits as per the prevailing tax laws and conditions. With the dual benefits of market growth and financial protection — all within a cost efficient and tax-efficient structure. ICICI Pru Smart Insurance Plan Plus (SIP+) Plan is designed to help you grow your wealth while securing your loved ones.
Key Features of ICICI Pru Smart Insurance Plan Plus (SIP+)
4 Simple Steps to begin your wealth creation journey
HOW IT WORKS
25-year old Prateek, a product manager in IT company, wanted to invest in a tax efficient, low-cost market-linked plan to create long-term financial wealth. He selects ICICI Pru Smart Insurance Plan Plus (SIP+) and pays ₹ 10,000/- monthly with a premium payment term of 10 years. This plan also provides financial protection to his family
Prateek's returns will be according to the performance of funds` he has selected
Premium amount: ₹ 10,000/-
Premium payment mode: Monthly
Premium Payment term: 10 years
Sum Assured: ₹12 lakh
Policy term: 50 years
| Age (in years) | Completed Policy year | Fund value @8% ARR^ | Fund value @4% ARR^ |
|---|---|---|---|
| 35 | 10 | 16,46,259 | 13,42,958 |
| 45 | 20 | 30,30,709 | 16,95,135 |
| 55 | 30 | 55,79,437 | 21,39,668 |
| 65 | 40 | 1,02,71,562 | 27,00,775 |
| 75 | 50 | 1,89,09,614 | 34,09,027 |
Note: As per IRDAI guidelines, returns are shown at 4% p.a. and 8% p.a
^ ARR : assumed rate of return. For the purpose of illustration, the Company has assumed 8% and 4% as rates of investment returns. The returns shown in the illustration are not guaranteed and they are not the upper or lower limits that you may get. As the value of the policy depends on a number of factors including future investment performance
On maturity, Divya will get returns according to the performance of funds she had invested in.
Amount of single premium: `1,00,000
Sum Assured: `10,00,000
Age at entry: 30 years
Policy term: 10 years
| Assumed investment returns | @ 4% ARR` | @ 8% ARR` |
| `Fund Value at Maturity | `1,20,670 | `1,76,956 |
`ARR: Assumed Rate of Return
Note: As per IRDAI guidelines, returns are shown at 4% p.a. and 8 p.a.:
For this example, we have assumed that the investment is done in the Maximiser Fund V (SFIN: ULIF 114 15/03/11 LMaximis5 105)
In case of Divya's death during policy term, Divya's nominee will receive the death benefit as a lump sum payout.
| Year of death | Death Benefit paid out to nominee | |
|---|---|---|
| @ 4% ARR` | @ 8% ARR` | |
| 5 | `10,00,000 | `10,00,000 |
| 10 | `10,00,000 | `10,00,000 |
`ARR : Assumed Rate of Return
The above illustration is for a healthy female life with 100% of her investments in Maximiser V. The above are illustrative maturity values, net of all charges, Goods and Services taxes and/ or cesses. Since your policy offers variable returns, the given illustration shows different rates of assumed future investment returns. The returns shown in the benefit illustration are not guaranteed and they are not the upper or lower limits of what you might get back, as the value of your policy depends on a number of factors including future investment performance.
THINGS YOU NEED TO KNOW
What is the minimum and maximum entry age for this plan?
The minimum entry age is 0 years, and the maximum entry age is 50 years.
What is the minimum and maximum premium policy term?
Policy term for this plan is 75 years minus age at entry.
What are the premium payments terms available with this plan?
You can select premium payment term from 5 years to 15 years
What are the premium payment modes available
The premium payment modes available with this plan are yearly, half-yearly and monthly.
When can I do partial withdrawals?
Partial withdrawals are allowed only after the first five policy years and on payment of all premiums for the first five policy years.
Can I surrender the policy? What are the charges of surrender?
You can surrender the policy after the completion of first five years. You will receive the entire fund value as on date of surrender, without any charges. There are no charges for surrender
PERFORMANCE OF FUNDS`
| Fund Name (As on ) | Returns (p.a.) | Returns (p.a.) |
Inception Date |
|||||
|---|---|---|---|---|---|---|---|---|
| 1 Year | 2 Year | 3 Year | 4 Year | 5 Year | Since Inception | |||
EQUITY | ||||||||
| Bluechip Fund | ||||||||
| Maximiser V Fund | ||||||||
| Multi Cap Growth Fund | ||||||||
| Opportunities Fund | ||||||||
| Maximise India Fund | ||||||||
| Value Enhancer Fund | ||||||||
| Focus 50 Fund | ||||||||
| India Growth Fund | ||||||||
| Sustainable Equity Fund | ||||||||
| Mid Cap Fund | ||||||||
| Mid Cap Index Fund | ||||||||
| Mid Cap 150 Momentum 50 Index Fund | ||||||||
| Multicap 50 25 25 Index Fund | ||||||||
| MidSmall Cap 400 Index Fund | ||||||||
| MidSmallCap 400 Momentum Quality 100 Index Fund | ||||||||
| Smallcap 250 Momentum Ǫuality 100 Index Fund | ||||||||
| India Consumption Fund | ||||||||
BALANCED | ||||||||
| Multi Cap Balanced Fund | ||||||||
| Active Asset Allocation Balanced Fund | ||||||||
| Balanced Advantage Fund | ||||||||
| Mid Cap Hybrid Growth Fund | ||||||||
DEBT | ||||||||
| Income Fund | ||||||||
| Money Market Fund | ||||||||
| Secure Opportunities Fund | ||||||||
| Constant Maturity Fund | ||||||||
Please note: NA: Fund has not completed the stipulated time period
Past performance is not indicative of future performance.
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