If you want to live your life on your own terms after your retirement then ICICI Prudential Life Insurance is offering a pension plan Called Life Stage premier. It is a unit linked pension policy. This policy can help you to customize your investment by providing the options of adding Top Ups in your premium or you can decrease your premium distribution as per your suitability. At your retirement the accumulated amount will provide you the regular income as in form of pension.
Eligibility Criteria:
• The minimum payment term for this plan is 3 years and maximum can go up to 5 years only.
• Minimum premium for 3 years term should be Rs. 1, 00,000/- but for 5 years policy term it can be Rs. – 60,000/- .
• The minimum entry age is 18 years and maximum could be 70 years.
• Minimum Policy term can be 10 years and maximum can be 62 years.
• The age of life insured at maturity can be in between 50 to 80 years.
Benefits:
• There is a limited premium payment term only of 3 or 5 years.
• You can reduce your premium distribution up to minimum allowed under the chosen premium payment term from 2nd year onwards.
• You can add top ups to increase your surplus money over and above your premiums at any time during the policy term.
• You can choose any date in between 50-80 years of your age, when you want to receive your pension.
• There are 5 pension options out of which you can choose any as per your suitability.
• This is the “Zero Sum assured policy”.
• You will get tax benefits under section 80 c and 10 A.
• In the case of death of life insured the nominee will get the sum assured amount in addition to the recent unit value.
Fund Option:
There are 9 fund options are available:
1. Pension Maxi miser II
2. Pension Balancer II
3. Pension Protector II
4. Pension Preserver
5. Pension Flexi Growth II
6. Pension Flexi Balanced II
7. Pension Multiplier II
8. Pension R.I.C.H. II
9. Pension Return Guarantee Fund (PRGF)
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