ICICI Life Time Super Pension
ICICI Prudential's Life Time Super Pension policy is a cost effective pension plan
that is of great help in the future if planned at the right time. It's a regular
premium unit linked policy, wherein a fixed income is earned thereby ensuring a
proper source of livelihood in times of need.
It has some very interesting features that are bound to ensure you of a worry-free
and relaxed old age. For instance, it has an option of 5 different annuity plans
to offer to its customers depending on the needs. Not only this, the sums assured
can also be opted for in two different options thereby making it very easy for the
insurer to choose from.
LifeTime
Super Pension at a glance
- Minimum/Maximum Entry Age 18 years to 65 years
- Maximum Cover Ceasing Age 75 years
- Minimum/Maximum Policy Term 10 years to 57 years
- Minimum/Maximum Vesting Age 45 years to 75 years
- Premium Payment Frequency Monthly, half-yearly, yearly
- Minimum Premium Rs. 10,000 per annum
- Tax Benefit Under Section 80CCC, as per prevailing
Income Tax laws on premium paid for base policy
Features
and benefits of LifeTime Super Pension Plan
- ICICI Prudential's LifeTime Super Pension policy is a regular-premium unit-linked
pension policy. When you invest in this policy, you provide yourself with a guarantee
that you will enjoy a fixed income-even when you are no longer working.
Take a look at the additional features of ICICI Prudential's LifeTime Super
Pension policy:
- annuity options: Pick one option based on how long you want your annuity to last
and the extent of coverage you want.
- investment funds: Select among Flexi-Growth, R.I.C.H., Multiplier, Flexi-Balanced,
Balancer, Protector, and Preserver, based on your financial goals and risk profile.
You can switch funds 4 times a year, at no cost. For subsequent switches you will
be required to pay a switch fee of Rs. 100.
- variations of Sums Assured: Opt for a Zero Sum Assured or a Sum Assured that can
be chosen between a minimum of Rs. 1 lakh and maximum of the annual premium multiplied
by the policy term.
- Tax benefits: Receive up to one-third of the accumulated value as a tax-free lumpsum
on your retirement day. Also enjoy tax benefits on the premiums you pay (under u/s
80 CCC) and tax exemptions on death benefits [under u/s 10 (10 D)].
