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ICICI ForeverLife



ICICI ForeverLife
Now this is one plan from ICICI Prudential where you can have dual benefits of having an insurance. You can have a protective cover while you are earning for your retirement, and can also avail your regular pensions once you have retired. In this case, therefore, you earn both in the accumulation phase as well as the annuity phase of your life.

Here in this plan, you can choose the date from which you want to receive your pension, you can also determine your annual premium which is Rs 50000 to be the minimum, depending on your age as well as goals. What is still more attractive is the option of choosing from a wide range of 5 different annuity options, and also guaranteed additional sums at the rate of 3.5% per annum on the sum assured for the first four years!


    ForeverLife at a glance

  • Minimum Sum Assured -Rs. 50,000
  • Minimum Premium -Rs. 6,000 per annum
  • Minimum/ maximum entry age -20 years – 60 years
  • Minimum/Maximum Term-5 years – 30 years
  • Minimum/Maximum vesting age- 50 years - 70 years
    Features and benefits of ForeverLife

  • ForeverLife is a regular premium deferred pension plan, which provides you with the security of a life cover during your working years (the Accumulation phase of the policy) and regular pensions once you retire (Annuity phase of the policy).
    • Take a look at the features and benefits of this plan:
  • Choose the Sum Assured and Vesting Age (age at which you want to start receiving your pensions). Depending on these as well as your age at entry, we determine your annual premium.
  • Pre-decided vesting age: Choose the date from which you want to receive your pensions.
  • Life cover: Enjoy the protective benefits of a life cover during the term of your policy i.e. the time from when you purchase the policy to the time you retire. The life cover amounts to the Sum Assured along with guaranteed additions and vested bonuses.
  • Annuities: Receive the Sum Assured along with guaranteed additions and vested bonuses when you retire. Choose how you want to receive your annuities.
  • options of annuity payouts: Choose to receive your annuity out of five annuity options that come with this retirement plan.
  • Guaranteed additions: Receive additional sums at the rate of 3.5% per annum compounded on the Sum Assured, for the first four years.
  • Vested bonuses: Receive these from the 5th year onwards, as an annual compounded percentage of the Sum Assured.
  • Death benefit: Should something happen to you, your nominee will receive the Sum Assured along with guaranteed additions and vested bonuses.
  • Tax benefits: Enjoy tax savings on the premiums you pay (under u/s 80 CCC) and tax exemptions on death benefits [under u/s 10 (10 D)].

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