ICICI Prudential Life Insurance : LifeTime Plus
LifeTime Plus-the only unit-linked plan that provides your family with both, Sum Assured AND Fund Value. Both these amounts ensure your loved ones remain financially secure, regardless of life’s uncertainties. This ideal wealth creation plan also serves as a protective insurance cover.
Minimum/Maximum Entry Age-10 years and 30 years
Minimum/Maximum Age of Entry-0 years and 65 years
Minimum/Maximum Premium-Rs. 20,000 and Rs. 3,00,000 per annum
Minimum Sum Assured-Annual Premium x Term/2
Advantages of LifeTime Plus
ICICI Prudential’s LifeTime Plus is a regular premium unit-linked insurance policy that provides you with flexible investment options and of course, the protective benefit of an insurance cover. Take a look at the features and benefits of this plan:
6 investment funds:
Select among Flexi-Growth, Maximiser, Flexi-Balanced, Balancer, Protector, and Preserver, based on your financial goals and risk profile.
Partial withdrawal of money:
Withdraw funds in installments from the 4th year onwards.
Maturity benefit:
Receive the Fund Value when your policy matures. Choose to take this value as a single lump-sum amount or in monthly, bi-annual or annual installments spread over 1 to 5 years.
Death benefit:
Your nominee receives the Sum Assured AND Fund Value should something happen to you.
Additional allocation of units:
Receive an additional allocation of units every 4th year, starting from the end of the 8th year, at the rate of 5% of annual premium, into the investment fund.
Tax benefits:
Enjoy tax benefits on the premiums you pay (under u/s 80 C) and tax exemptions on maturity and death benefits [under u/s 10 (10 D)].
Sources : http://www.iciciprulife.com/