Disclaimer: ICICI Pru Gold- Lead KV 2
* Pays: It refers to the scenario of the policyholder choosing premium offset feature at policy inception. The policyholder chooses 12 years as premiums payment in 'Immediate income' plan option and chooses to accumulate income in Savings wallet as use that accumulated amount to pay last two premiums. Therefore, effectively the policyholder pays for 10 years
# Offset: You have the option to utilize the balance in the Savings Wallet to offset any premiums due to be paid during the premium payment term. The same has to be provided to Us as a request prior to the premium due date. Upon receipt of such request and confirmation of the same, We shall automatically deduct the authorized amount on the premium due date from the Savings Wallet. If the amount available for offset is not sufficient to adjust the due premium, the balance due premium shall remain payable by You as on the premium due date. We shall recognize the settlement of due premium only after receipt of the same in full. Please refer to the sales brochure for more details
1 Income: In plan option ‘Immediate income’ and ‘Immediate income with Booster’, starting from the first policy year till the end of the policy term, you will receive a regular income at the end of every policy year/month, as chosen by you, provided the policy is in-force. For “Immediate Income with Booster”, along with the regular income, you will also receive a benefit (known as Guaranteed Booster) every 5th policy year provided the policy is in-force. This Guaranteed Booster will be equal to 100% of the Guaranteed Income, as applicable for the year of payment
In ‘deferred Income’ plan option, you will receive regular income at the end of every year/month, starting from end of deferment period as chosen by you, provided the policy is in-force. You can start this income as early as 2nd policy year or as late as Premium Payment Term plus 1 year.
This regular income will comprise the following:
- Guaranteed Income (GI) and
- Income which will be linked to Bonus, if declared; referred to as Cash Bonus (CB)
You will receive this income till the date of maturity, death, surrender or lapse of the policy, whichever happens first.
2 Lumpsum: For all plan options, on survival of the life assured till the end of policy term for a fully paid policy, Maturity Benefit will be sum of
- Sum Assured on Maturity, plus
- Balance in the Savings Wallet (if any), plus
- Terminal Bonus (if declared)
The Sum Assured on Maturity shall be the sum of Annualized Premium payable under the policy.
*ICICI Pru Gold. UIN:105N190V01
*© ICICI Prudential Life Insurance Co. Ltd. All rights reserved. Registered with Insurance Regulatory & Development Authority of India (IRDAI) as Life Insurance Company. Regn. No. 105. CIN: L66010MH2000PLC127837. Reg. Off.: ICICI PruLife Towers, 1089 Appasaheb Marathe Marg, Prabhadevi, Mumbai 400025. Tel.: 40391600. Customer helpline number – 1860 266 7766. Timings – 10:00 A.M. to 7:00 P.M., Monday to Saturday (except national holidays). Member of the Life Insurance Council. For more details on the risk factors, term and conditions please read the product brochure carefully before concluding the sale. Trade Logo displayed above belongs to ICICI Bank Ltd & Prudential IP services Ltd and used by ICICI Prudential Life Insurance Company Ltd under license
