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.
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 . |
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
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
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