All You Need To Know About ICICI Pru Guaranteed Income For Tomorrow Plan

ICICI Prudential Life Insurance has introduced a new goal-based savings product, ‘ICICI Pru Guaranteed Income for Tomorrow' (GIFT), which provides policyholders with a guaranteed income to assist them in meeting their long-term financial objectives. This non-participating savings plan can significantly reduce the unpredictability of future income sources. The life insurance policy offers financial stability to the family, which is necessary for a solid financial strategy. GIFT is a life insurance plan that focuses on safety and savings while also providing guaranteed rewards to assist people to accomplish their life objectives.

Variants of ICICI Prudential Life Insurance Goal-Based Savings Product

This goal-based savings product comes in three varieties:

• Income

  The policyholder has the option of receiving the maturity benefit as Guaranteed Income for a period of 5, 7, or 10 years. This option, for example, maybe perfect for clients who are planning their child's education since the variable premium payment and income period choices help to match income with educational aspirations. You can choose to pay premiums for 5, 7, or 10 years (PPT) and also get Guaranteed Income for 5, 7, or 10 years under this plan choice. Your policy term is PPT+1, and you have life insurance for the duration of the policy.

• Early Income

  This variation has a one-of-a-kind feature known as Guaranteed Early Money, which allows clients to begin collecting income as early as the second year of the policy. Customers no longer have to wait until the insurance matures to get monthly income thanks to the Guaranteed Early Income option. Customers may enjoy advantages as their funds grow with this option. You can choose to pay premiums for 7 or 10 years (PPT) under this plan option, and you will begin receiving monthly income in the second year. Your policy term is PPT+1, and you have life insurance for the duration of the policy. Guaranteed Money is the income you receive after the policy term has expired.
  
  

• Single Pay / Lump Sum

  Customers in this variation must pay the premium just once at the time of purchase and select the policy duration after which they want to get the Guaranteed lump sum benefit. Customers will also benefit from guaranteed returns as well as life insurance. The “Save The Date” function is another distinguishing element of ‘ICICI Pru Guaranteed Income for Tomorrow. This tool may be used to make personal milestones more memorable. For example, individuals can opt to begin receiving money on significant days such as their wedding anniversary, spouse's birthday, and so on.

Must read: Are Money Back Policies Productive?    

Feature of ICICI Pru Guaranteed Income For Tomorrow Plan

The major aspect of ICICI Pru Guaranteed Income For Tomorrow is as follows:

• Receive guaranteed benefits in the form of a lump amount or a monthly income.
• From the second year onwards, you have the option of receiving guaranteed income.
• Life insurance provides financial protection for your loved ones in the event of your death.
• Tax advantages on premiums paid and benefits obtained by current tax legislation
• Possibility of obtaining a loan against the insurance

Conclusion 

If you are searching for a life insurance plan that will offer you security as well as guaranteed benefits at all phases of your life, the ICICI Pru Guaranteed Income for Tomorrow plan may be the best option for you! With many plan options to safeguard your loved ones, you may live your life worry-free as this plan assists you in achieving various life objectives such as parenthood, marriage, education, and so on. Before we get into the specifics of this strategy, let's go through its main points. In light of this, we provide ICICI Pru Guaranteed Income For Tomorrow. A life insurance plan that focuses on protection and savings while also providing assured rewards to assist you in reaching your life objectives.

Also read: Lesser Known Facts About Money Back Policy

Disclaimer: This article is issued in the general public interest and meant for general information purposes only. Readers are advised not to rely on the contents of the article as conclusive in nature and should research further or consult an expert in this regard.