Review of ICICI Pru Pinnacle Fund II Plan

What is ICICI Pru Pinnacle Fund II Plan?

ICICI Pru Pinnacle Fund II is a unit linked insurance plan that offers protection for your family through its life insurance cover. It also gives you the advantage of varying exposure to equities with downside protection, so that your investments are protected in financially volatile times. It offers a limited premium payment term while allowing you to enjoy insurance protection for a longer period.

You work hard to make sure a comfortable lifestyle for yourself and your family. But do you make your money work as hard as you do? Now, you can do so with “ICICI Pru Pinnacle Fund II” which helps your savings to grow while also addressing your needs for protection at all stages of life.

ICICI Pru Pinnacle Fund II Detail Analysis

Premium Payment Term	5 years
Minimum Premium	Rs. 50,000 p.a.
Maximum Premium	Rs. 2,00,000 p.a.
Min Entry Age	8 years
Max Entry Age	65 years
Modes of Premium payment	Yearly
Policy Term	10 years (fixed)
Maximum Maturity Age	75 years
Minimum Sum Assured	Age at entry	Minimum SA
	<45 yrs	10 x Annual Premium
	>=45 yrs	7 x Annual Premium
Tax Benefits	Premium and any benefit amount received under this policy will be eligible for the tax benefit as per the prevailing Income Tax laws .

Key Features of ICICI Pru Pinnacle Fund II

Guaranteed NAV

Get the benefit of the highest NAV recorded on a daily basis, in the first 7 years of the Pinnacle II Fund, at maturity.

Limited premium payment term

Pay premiums for only five policy years.

Death benefit

In the unfortunate event of death of the Life Assured, the nominee will receive Sum Assured plus Fund Value, subject to Minimum Death Benefit. Guaranteed NAV will not be applicable for death benefit.

Partial withdrawals

Ensures Partial withdrawal from the 6 policy year onwards

Tax benefits

Avail tax benefits on the premiums paid and benefits received under the policy, as per the prevailing Income Tax laws

Loyalty Additions

It will be added to the fund at maturity. Calculation of the fund value for Loyalty Addition will be based on the prevailing NAV and not on the Guaranteed NAV.

Maturity Benefit

At maturity, higher of Guaranteed Value and the Fund Value shall be payable.

Fund Value= Units at maturity x NAV on maturity

Guaranteed Value= Units at maturity x Guaranteed NAV

ICICI Pru Pinnacle Fund II Charges

Premium Allocation Charge

This will be deducted from the premium amount at the time of premium payment & units will be allocated thereafter.

Policy Year	Premium Allocation Charge (as a % of premium)
1	6%
2	5%
3 - 5	3%

Policy administration charge

Policy administration charge will be deducted every month for the entire term of the policy. The monthly policy administration charge as a % of first year premium is mentioned below.

Policy Year	Policy administration charge (as a % of First Year premium)
5 - 10	0.25% per month
6th Year Onwards	0.1% per month

This charge will be made by redemption of units.

Mortality charge

Mortality charge will be deducted on a monthly basis on the Sum Assured. Indicative annual charges per thousand Sum Assured for healthy male and female lives are as shown below

Age last birthday (years)	10	20	30	40	50	60
Male (Rs).	0.77	1.33	1.46	2.48	5.91	14.21
Female (Rs).	0.72	1.26	1.46	2.12	4.85	11.83

Fund management charge

A fund management charge of 1.35% per annum will be applicable. There will be an additional charge for the cost of investment guarantee of 0.10% per annum. These will be made by adjustment to the NAV.

Miscellaneous Charges

If there are any policy alterations during the policy term, they will be subject to a miscellaneous charge of Rs. 250 per alteration.

See Also: ULIP Charges in India