ICICI Pru Forever Life | Features & Benefits

ICICI Prudential’s ForeverLife is a complete insurance cum pension plan that performs two vital roles: it acts as a protecting cover while you earn for your retirement, and provides you with regular pensions once you retire.

Eligibility –

Minimum Sum Assured	Rs. 50,000
Minimum Premium	Rs. 6,000 per annum
Minimum/ maximum entry age	20 years – 60 years
Minimum/Maximum Term	5 years – 30 years
Minimum/Maximum vesting age	50 years – 70 years

Features & Benefits –

Take a look at the features and benefits of this plan:

Premiums: Choose the Sum Assured and Vesting Age (age at which you want to start receiving your pensions). Depending on these as well as your age at entry, we decide your annual premium.

Pre-decided vesting age: Choose the date from which you want to receive your pensions.

Life cover: Enjoy the protective benefits of a life cover throughout the term of your policy i.e. the time from when you purchase the policy to the time you retire. The life cover amounts to the Sum Assured along with guaranteed additions and vested bonuses.

Annuities: Receive the Sum Assured along with guaranteed additions and vested bonuses when you retire. Choose how you want to receive your annuities.

5 options of annuity payouts: Choose to receive your annuity out of 5 annuity options that come with this retirement plan.

Guaranteed additions: Receive additional sums at the rate of 3.5(%) per cent per annum compounded on the Sum Assured, for the first 4 years.

Vested bonuses: Receive these from the 5th year onwards, as an annual compounded percentage of the Sum Assured.

Death benefit: Should something happen to you, your nominee will receive the Sum Assured along with guaranteed additions and vested bonuses.

Tax benefits: Enjoy tax savings on the premiums you pay (under u/s 80 CCC) and tax exemptions on death benefits [under u/s 10 (10 D)].

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Tags: ICICI Pru Forever Life, ICICI Pru Life, Pension Plan