ICICI Prudential Life Insurance : InvestShield Life New
InvestShield Life New has the added assurance of a Premium Guarantee which ensures that in the event of the market returns being negative, the sum of all premiums paid is returned to the policyholder on maturity of the plan.
In addition to this, the policyholder gets a life insurance cover for protecting the family against the financial implications of the death of the policyholder.
Minimum/Maximum Entry Age-0-65 years
Maximum Age of Maturity-0 years and 75 years
Minimum/Maximum Term-10-30 years
Minimum Premium-Rs 8000 per annum
Sum Assured-Annual Premium * Term/2
Advantages of InvestShield Life New Plan
As a market-linked plan with premium guarantee and enhanced life insurance, InvestShield Life New offers a host of benefits to the policyholder.
Premium Guarantee:
Sum of all premiums paid is guaranteed on maturity of the policy or death of the policyholder. This value is referred to as Guaranteed Value. The Guaranteed value will come into play only if all the premiums due from the policyholder have been paid.
Maturity Benefit:
On completion of term of the policy, the higher of the fund value or guaranteed value is paid to the policyholder
Death Benefit:
On death of the policyholder, Sum Assured PLUS higher of fund value or guaranteed value at the time of death, will be paid out to the nominee of the life assured.
Tax Benefits:
The premiums paid towards this policy are eligible for tax deductions u/s 80 C. Maturity proceeds and death benefits are eligible for tax exemption u/s 10 (10 d) as per prevailing tax laws.
Sources: http://www.iciciprulife.com/