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Pru Wealth Advantage plan

ICICI Pru Wealth Advantage Plan

The first ever unit linked insurance plan from ICICI Prudential that provides a long term cover with a single premium to be paid and keeps the insurer invested throughout his life. This is a one time investment that allows a person to stay worry free for life, you invest once and you get rewarded in the form of returns throughout life.

ICICI Pru Wealth Advantage at a glance

MMinimum/Maximum Entry Age - 0 - 65 years
Minimum/Maximum Cover Ceasing Age - 7 – 70 Years
Minimum Premium -Rs. 25000
Psayment Option - Single
Sum Assured - Choice of 125% or 500% of premium
Tax Benefit -Premium payment up to 20% of the Sum Assured is eligible for benefit under Sec. 80C. Any amount paid to you will be eligible for tax benefits under Sec. 10 (10D) exemption, if premium paid in any year does not exceed 20% of the Sum Assured.

Features and benefits of ICICI Pru Wealth Advantage

Whole Life Plan: With this plan you can stay invested for the whole of your life without compromising insurance protection to your family as you get a life cover till the age of 70.
Single Premium: You have the convenience of paying premium once and stay invested for the whole of your life.
2 options of Sum Assured: You can choose to have sum assured as either 125% or 500% of the single premium amount.
Automatic Withdrawal Plan: Ensure liquidity throughout your life with the help of Automatic Withdrawal Plan which lets you take a fixed amount out of your account according to a regular schedule that you choose. AWP will be allowed only after 6th policy year.
Automatic Transfer Strategy: ATS allows you to invest a lump sum amount in our money market fund (Preserver) and transfer a pre-defined amount every month into any one of the chosen equity funds (Multiplier II, R.I.C.H. II, Flexi Growth II). It will help you mitigate any risk arising from market volatility.
Death benefit: Your family receives the higher of Fund Value or Sum Assured should something happen to you.
Choice of 7 investment funds: Select among Flexi Growth II, R.I.C.H. II, Multiplier II, Flexi-Balanced II, Balancer II, Protector II, and Preserver, based on your financial goals and risk profile.
Switch benefit: Switch between funds anytime to maximize on market movements. 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.