ICICI Pru – Cash Advantage
Non-Linked Life Insurance Plan
A unique savings and protection oriented plan which offers you a guaranteed amount every month 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.
Why you need this Plan ?
GET LUMP-SUM TO ACHIEVE YOUR FUTURE GOALS
This plan is combination of money back and endowment plan.
On purchase of plan, Guaranteed Maturity Benefit (GMB) will be computed based on Age, PPT, policy term and gender. This is generally 65% – 90% of Total Annual Premiums paid.
Guaranteed Cash Benefit (GCB) as % of Guaranteed Maturity Benefit (GMB) will be paid either monthly or annually
|Cash Benefit Mode
||Guaranteed Cash Benefit
||1% of GMB
||11.5% of GMB
Plan offers 2 kinds of bonuses as below
Revisionary bonus: Declared every year, compounded annually and paid at maturity
Terminal bonus: Declared at the end of policy term and paid at maturity
Premium paid get tax exempted under sec. 80 C. Maturity benefit & Death benefit gets exempted under Sec 10 (10 D)* for S.A. selected as 10 X of Annual premium.
Benefit illustrator as below