ICICI PRU

Cash Advantage

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You have always worked hard to fulfil your family's needs - your children's education, your parents' medical expenses or that dream family vacation. To be able to meet these responsibilities, you need a comprehensive financial solution which provides regular cash flow to meet your recurring expenses while building a corpus for your long term financial goals.
ICICI Prudential introduces ICICI Pru Cash Advantage, a unique savings and protection oriented plan which offers you a guaranteed amount for 10 years, a guaranteed lump sum at maturity, along with bonuses and life cover that provides financial security to your family in case of your death.



SPECIMEN POLICY DOCUMENTS

ICICI Pru Cash Advantage

Premium payment option
5 years Premiun paying term (PPT)
10 years Payout term
15 years Policy term (PPT+ Payout term)
Rs.30,000Minimum annual premium
3 years Minimum age at entry
Rs.74,451GMB* for: minimum entry age, minimum annual premium, annual premium payment mode
60 years Maximum age at entry
Unlimited Maximum annual premium
Sum Assured on death
18 / 80Min / Max age at maturity
Annual / Half-yearly / MonthlyPremium payment mode
Annual / MonthlyCash benefit mode
7 years Premiun paying term (PPT)
10 years Payout term
17 years Policy term (PPT+ Payout term)
Rs.18,000Minimum annual premium
1 year Minimum age at entry
Rs.65,364GMB* for: minimum entry age, minimum annual premium, annual premium payment mode
60 years Maximum age at entry
Unlimited Maximum annual premium
Sum Assured on death
18 / 80Min / Max age at maturity
Annual / Half-yearly / MonthlyPremium payment mode
Annual / MonthlyCash benefit mode
10 years Premiun paying term (PPT)
10 years Payout term
20 years Policy term (PPT+ Payout term)
Rs.12,000Minimum annual premium
0 Minimum age at entry
Rs.63,881GMB* for: minimum entry age, minimum annual premium, annual premium payment mode
60 years Maximum age at entry
Unlimited Maximum annual premium
Sum Assured on death
18 / 80Min / Max age at maturity
Annual / Half-yearly / MonthlyPremium payment mode
Annual / MonthlyCash benefit mode


* These GMBs are for a male life assured and will be different for female lives

UIN of the ICICI PRU Cash Advantage: 105N132V01

ICICI Pru Cash Advantage - A comprehensive solution for your needs

ICICI Pru Cash Advantage provides you,

Liquidity

  • Payout term commences immediately after premium payment term (PPT)
Guarantees
  • Guaranteed Cash Benefit (GCB) equal to 1% of GMB every month# throughout the payout term of 10 years
  • Guaranteed Maturity Benefit (GMB) at the end of the policy term
Protection
  • Life cover for the entire policy term
Limited premium payment term
  • Choice of paying premiums for - 5, 7 or 10 years
Tax benefits apply to premiums paid and benefits received as per the prevailing tax laws


Benefits in Detail


  • Death Benefit:

    • Death Benefit = Maximum of (A, B, C)

    Where,

    A = Sum Assured plus Bonuses*

    B = GMB plus Bonuses*

    C = Minimum Death Benefit

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


  • Cash Benefit

    • Throughout the payout term, Guaranteed Cash Benefit (GCB) is payable in advance#, provided the life assured is alive and the policy is fully paid. GCB can be received in monthly or annual installments. GCB is a percentage of the Guaranteed Maturity Benefit (GMB) and depends on cash benefit mode as per the table below.

    Cash Benefit Mode Guaranteed Cash Benefit
    Monthly 1% of GMB
    Annual 11.5% of GMB

  • Maturity Benefit:

    • Maturity Benefit = Maximum of (A, B)

    Where,

       A = Guaranteed Maturity Benefit plus vested reversionary bonuses, if any plus terminal bonus, if any

       B = 100.1% of total premiums paid (excluding any extra mortality premium, service tax and cesses,if any) less GCBs received



# Guaranteed Cash Benefit is payable at the beginning of each policy month during the payout term in case the cash benefit mode is monthly and at the beginning of each policy year during the payout term in case the cash benefit mode is annual.


  • At policy inception, you choose your premium, premium payment option, premium payment mode, Sum Assured and cash benefit mode.
  • Your GCB and GMB are calculated using the above mentioned parameters along with your age and gender.
  • GCB is payable in advance during the payout term#. Payout term begins as soon as the premium payment term is over and terminates at the end of the policy term.
  • In the unfortunate event of death of the life assured during the policy term, death benefit is payable to the nominee.
  • On survival of the life assured till the end of the policy term, Guaranteed Maturity Benefit (GMB) is payable along with vested reversionary bonuses (RB) plus terminal bonus , if any.

    • # Guaranteed Cash Benefit is payable at the beginning of each policy month during the payout term in case the cash benefit mode is monthly and at the beginning of each policy year during the payout term in case the cash benefit mode is annual.

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