Everything You Need To Know About ICICI Pru Future Perfect Plan
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ICICI Prudential Life Insurance a popular life insurance provider. The insurance provider offers a wide array of life insurance products. ICICI Prudential offers a good endowment plan known as ICICI Pru Future Perfect plan. This plan allows you to grow your corpus. This plan is a life insurance cum savings plan. Under this plan Guaranteed Additions and Guaranteed Maturity Benefit. This plan also allows wealth appreciation by declaring bonuses upon the policy at the end of each policy year based on the performance of the life insurance company in the company.
Eligibility Criteria to Purchase ICICI Pru Future Perfect Plan
Following is the eligibility criteria to purchase ICICI Pru Future Perfect plan:
- Minimum and Maximum Age at Entry - 1 to 55 years
- Minimum and Maximum Age at Maturity - 18 to 70 years
- Policy Term - 10 to 30 (the policy term may vary depending upon the chosen PPT)
- Premium Paying Term (PPT)- 5, 7, 10, 15 and 20 years
- Premium Paying Mode - Yearly, Half-Yearly and Monthly
Key Benefits of ICICI Pru Future Perfect Plan
Following are the key benefits of purchasing a ICICI Pru Future Perfect plan:
- Life Cover: ICICI Pru Future Perfect plan provides life cover along with an opportunity to grow your corpus for future. In case of an untimely demise a death benefit shall be provided to the nominee. This plan lets you ensure financial security of your family.
- Savings with Guaranteed Additions: ICICI Pru Future Perfect plan provides the life assured an opportunity to create a corpus and provide guaranteed additions. Under this policy a guaranteed maturity benefit along with guaranteed additions and annual bonuses (Reversionary or Terminal) shall be declared upon the policy.
- Flexibility: Under ICICI Pru Future Perfect plan provides flexibility to choose the premium payment term, premium payment frequency and policy term. You can choose you premium payment term, policy term or premium payment frequency according to your convenience.
- Tax Benefits: Under this endowment plan you can avail tax exemption on the premiums paid and benefits payout. You can avail tax exemptions for the premiums paid, death benefit or maturity benefit according to the Section 80C and 10(10D) of the Income Tax Act.
- Loan Against Policy: ICICI Pru Future Perfect plan offers the facility of loans against policy in case you require urgent funds to fulfil the urgent financial requirement.
- Wealth Appreciation: Under this plan annual bonus is declared (Terminal and Reversionary Bonus) according to the performance of the insurance provider. These bonuses are provided along the maturity or death benefit.
Conclusion
ICICI Pru Future Perfect plan is a great way to create financial security for you and your family. This plan provides guaranteed additions, guaranteed maturity benefits and wealth appreciation. If you are looking to purchase an investment cum life insurance plan you can consider ICICI Pru Future Perfect plan.
Also read - Understanding How An Endowment Plan Works
