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ICICI PRUDENTIAL - ForeverLife
Plan Highlights
| Key Feature |
A deferred annuity plan that helps you save for retirement while providing you life insurance protection.
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| Best Suited For |
Best suited for those who are of the age between 30-35 years, who are seeking returns, liquidity and risk cover while planning for their retirement needs.
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| Features |
1) The policy attains a value at the end of deferment period.(Sum Assured + Guaranteed Additions (@3.5% for the first 7 years of the policy + vested bonuses). This value is applied to purchase annuity at the time of vesting.
2) Flexibility to choose four different annuity options- Life Annuity, Life Annuity with Return of Purchase Price, Life Annuity Guaranteed for 5, 10, 15 years and Joint Life, Last Survivor with Return of Purchase Price.
3)Riders offered are Critical Illness Benefit, Major Surgical Benefit and Accident and Disability Benefit
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Benifits
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| Survival Benifits |
Regular income is paid for life, depending on the annuity option chosen by insured and the accumulated value as on the vesting date. |
Death Benefits
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Option to either take the accumulated value of the Sum Assured + Guaranteed Additions + Vested Bonuses (if any) or opt for an annuity using a desired portion of the accumulated value and take the rest as lumpsum.
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Policy Features
| Type |
Pension Policy |
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| House Loan |
No |
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| General Loan |
No |
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| Premium Paying options |
Yearly, Half-Yearly, Quarterly, Monthly, Single Premium |
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| Period of Life Insurance |
Not Applicable |
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