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LifeTime Pension II Benefits
Benefits & Features
life insurance policy

Death Benefit :

  You have two options:
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·Go for ‘Zero Sum Assured’, making it a pure investment plan, or
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·Choose a Sum Assured beginning Rs.100,000 up to a maximum of the annual premium multiplied by the policy term.
 
 
In the unfortunate event of death of the insured person, the spouse receives Sum Assured or the Fund Value, whichever is higher. This may be taken as a lump sum or may be used to purchase an annuity from the company.
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Regular Pension after retirement :

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On maturity, the accumulated value of units will be used to purchase an annuity.
 
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You will receive this as pension during your post-retirement years that will help you maintain your lifestyle needs for as long as you live.
 
     
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Tax Benefits :

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The premiums that you pay for LifeTime Super Pension are eligible for tax benefits under Section 80CCC.
 
   
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Power to Invest in a Plan based on your Priorities :

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Choose between the Pension Flexi Growth II, Pension Maximiser II, Pension Flexi Balanced II, Pension Balancer II, Pension Protector II, Pension Preserver.
 
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You can switch between the plans, to suit your investment priorities. 4 free switches a year.
 
     
life insurance children  Power to Choose the Retirement Date :
  life insurance in india  Choose a vesting date between 45 - 75 years of age.
     
Power to receive pension in 5 different ways :
  Life Annuity
  Life Annuity with Return of Purchase Price
  Life Annuity Guaranteed for 5/10 /15 years or life thereafter
  Joint Life, Last Survivor with return of Purchase Price
  Joint Joint Life, Last Survivor without return of Purchase Price
     
Additional Protection with Rider

For additional protection, you can further customise your plan by adding the following riders:

 
Accidental and Disability Benefit Rider (ADBR)
 
Waiver of Premium Rider (WOPR)
 
Open Market Option :
This option enables you to buy a pension from any other insurer of your choice, at the time of vesting. You have the freedom to take the best offer available in the market.
Product Details :
Min / Max entry age

18 – 65 years

Max cover ceasing age

75 years

Min/Max Policy term

10 – 57 years

Min Premium

Rs.10,000 p.a.

Fund Switches

4 free switches a year, subject to a minimum switch amount of Rs.2,000. A charge of Rs.100 for any additional switches.

Fund Mgmt. Charges

Pension Flexi Growth II / Pension Maximiser II: 1.50 %p.a
Pension Flexi Balanced II / PensionBalancer II: 1.00%p.a
Pension Protector II: 0.75%p.a
Pension Preserver: 0.75%p.a

 

Insurance is the subject matter of solicitation. ICICI Bank Limited is licensed by the IRDA to act as a Corporate Agent of ICICI Prudential Life Insurance Company Limited. The contract of insurance is between ICICI Prudential Life Insurance Company Limited and the Insured, and not between ICICI Bank Limited and the Insured. Participation by ICICI Bank's customers is on a purely voluntary basis.

LifeTime Super Pension is a Unit Linked Insurance Plan (ULIP) and is different from traditional insurance products. Investments in ULIPs are subject to market risks. The Net Asset Value (NAV) of the units may fluctuate based on the performance of fund and factors influencing the capital market and the policy holder is responsible for his / her decisions. ICICI Prudential Life Insurance Company Limited and LifeTime Super Pension are only the names of the Company and product respectively and do not in any way indicate the quality of the product, its future prospects or returns.
LifeTime Super Pension: Product Code: U40.

   
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