ICICI Pru Gold

ICICI Pru Gold, a protection and savings oriented participating life insurance plan that provides the protection of life cover⁴ along with a regular income¹ that can be used to meet your long-term recurring financial needs through participation in bonus⁶Read More

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Disclaimer

In plan option ‘Immediate income’ and ‘Immediate income with Booster’, starting from the first policy year, you will receive a regular income at the end of every policy year, as chosen by you, provided the policy is in-force

In ‘deferred Income’ plan option, you will receive regular income at the end of every year, starting from end of deferment period as chosen by you, provided the policy is in-force. You can start this income as early as 2nd policy year or as late as Premium Payment Term plus 1 year

This regular income will comprise the following:

• Guaranteed Income (GI) and
• Income which will be linked to Bonus, if declared; referred to as Cash Bonus (CB)

You will receive this income till the date of maturity, death, surrender or lapse of the policy, whichever happens first

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For all plan options, Maturity Benefit will be sum of:

• Sum Assured on Maturity, plus
• Terminal Bonus (if declared)

The Sum Assured on Maturity shall be the sum of Annualised Premium payable under the policy.

ICICI Pru Gold offers three plan options namely ‘Immediate Income’ and ‘Immediate Income with booster’ and ‘Deferred Income’. The customer can choose any one of the three available options. Please refer to sales brochure for more details

Life cover is the benefit payable on death of the life assured during the policy term

Tax benefits under the policy are subject to prevailing conditions and provisions of the Income Tax Act, 1961. Goods and Services Tax and Cesses, if any, will be charged extra as per prevailing rates. Tax laws are subject to amendments made thereto from time to time. Please consult your tax advisor for details, before acting on above

Bonuses will be applied through the simple bonus method. Cash Bonuses may be declared annually throughout the policy term for all three variants, and will be expressed as a proportion of the Annualised Premium. For a new policy sold with Date of Commencement of Risk on or after April 1 in any financial year, there may not be any Cash Bonus rate declared for such policies when the Survival Benefit becomes due to be paid. In such circumstances, the Company may pay a fixed cash income benefit in lieu of Cash Bonus. This fixed cash income benefit will be based on a non-participating Cash Income rate (declared by the Company annually in advance) and once declared shall remain guaranteed to be paid as part of Survival Benefit as and when it is due. Such payments in the form of fixed benefit shall continue till a Cash Bonus rate (as applicable for the policy) is declared and the Cash Bonus benefit, if declared, becomes payable at the next benefit due date. A separate Terminal Bonus may be declared under each variant, and will be payable on death, surrender and maturity, respectively, for a premium paying or a fully paid policy. Please refer to the sales brochure for more details

In all plan options, guarantee is in the form of ‘Guaranteed income’ as regular income and ‘Sum assured on maturity’ as a part of Maturity Benefit. Additionally, in ‘Immediate Income with booster’ plan option, the ‘Guaranteed booster’ also forms a part of guaranteed benefits. Guaranteed returns are payable subject to all due premiums being paid and survival of the life assured

You have an option to accumulate the Survival Benefit, instead of taking the same as a periodic payment during the policy term. You need to opt in for this feature through explicit consent vide request submitted to Us, whereby the Survival Benefit when due will be transferred to the Savings Wallet. Upon crediting the Survival Benefit in the Savings Wallet on the due date, the Survival Benefit will be deemed to have been paid and any amount within the Savings Wallet will be non-participating in nature. This option can be opted for and opted out at any time during the Income Term. The money within the wallet will be accumulated daily at an interest rate linked to the Reverse Repo Rate published by Reserve Bank of India (RBI). The interest rate used for accumulation under this feature will be reviewed twice every year on 1st of June and 1st of December, and will be set equal to Reverse Repo Rate published on RBI’s website as on the review dateIn case the balance in the wallet is not withdrawn completely during the income term, such balance will be paid to the claimant in the event of death, surrender or maturity, whichever is earlier along with other benefit payments (if any). On payment of this benefit, the policy will terminate, and all rights, benefits and interests under the policy will stand extinguished.

You have the option to utilize the balance in the Savings Wallet to offset any premiums due to be paid during the premium payment term. The same has to be provided to Us as a request prior to the premium due date. Upon receipt of such request and confirmation of the same, We shall automatically deduct the authorized amount on the premium due date from the Savings Wallet. If the amount available for offset is not sufficient to adjust the due premium, the balance due premium shall remain payable by You as on the premium due date. We shall recognize the settlement of due premium only after receipt of the same in full. Please refer to the sales brochure for more details.

This is income in advance income frequency chosen at policy inception with annual premium payment mode. : If this frequency is opted by you, then You will receive the survival benefit at the beginning of each policy year (i.e. due date) during the income term commencing from the income start date. In case income term starts from the first policy year, such survival benefit will be paid out within seven working days of realization of the first year’s premium by the Company post issuance of the policy. For any subsequent policy year during the premium payment term, such survival benefits (if due) will be paid out within seven working days of realization of the respective policy year’s renewal premium by the Company or on the due date, whichever is later. Post premium payment term, such survival benefits (if due) will be paid out on the respective due dates. Read Less