Building your child's future is a joint effort · Scenario 1: What do you get on maturity as a...
Transcript of Building your child's future is a joint effort · Scenario 1: What do you get on maturity as a...
A solution that covers both parents.
Make it TWICE as secure, with
IN UNIT LINKED POLICIES, THE INVESTMENT RISK IN THE INVESTMENT PORTFOLIO IS BORNE BY THE POLICYHOLDER IN UNIT LINKED POLICIES, THE INVESTMENT RISK IN THE INVESTMENT PORTFOLIO IS BORNE BY THE POLICYHOLDER. This advertisement is designed for combination of Benefits of two or more individual and separate products named (1) ICICI Pru Smart Life and (2) ICICI Pru Savings Suraksha and (3) ICICI Pru iCare II. The customer has the choice of purchasing any one or more products as per his/her need and choice and there is no compulsion whatsoever that these products are to be taken together as suggested by the Insurer and presented in this advertisement. The customer is expected to ask questions, understand and satisfy himself that this combination meets his/her specific needs better before deciding to purchase this combination. This benefit illustration is the arithmetic combination and chronological listing of combined benefits of individual products. The customer is advised to refer to the detailed sales brochure of the individual products mentioned herein.
Building your child's future is a joint effort
When it comes to a child’s upbringing, both parents play an equally important role. From
nurturing to teaching, from sports to life skills, there’s so much each parent inculcates in a
child. Bringing different strengths, unique perspectives, and a healthy balance that ensures
a stable future for the child.
Both husband & wife share equal responsibility in managing both financial as well as family
responsibilities. The biggest challenge today is to muster the finances to match the
mounting costs of education, vocational courses, child’s wedding etc. This is why planning
for the various milestones becomes critically important in the near future. Ensure that your
child’s dreams continue and do not get compromised if either of you is not around.
We, at ICICI Prudential Life understand the need to secure these non-negotiable financial
goals and keeping this in mind, we present an exclusive solution to cater to your needs!
Have you planned for it?
Do you know how much will your child’s highereducation/marriage cost in the future?
Cost of Marriage today is
Age at higher education* 20 Years
Present age of the child 10 Years
No. of years left 10 Years
Future cost of higher education#
Current cost of education from premierinstitute
` 30 Lakh
` 49 Lakh
Total minimum investment required to secureyour child’s education is
` 4 Lakh per annum for next 10 years
Approximate annual premium to be investedto achieve the goal##
30 Lakh
` 4 Lakh
#Source: Indian School of Business, Hyderabad
Cost of Education from a Premier Institute#
How much will it cost in the future?
*Considering need of higher education at age 20 of the child#Considering inflation at 5% annually##Considering 8% Assumed Annual rate on investments
PRESENTING ICICI PRUDENTIALJOINT LIFE SMART PARENTS SOLUTION – MODERATEA combination of ICICI Pru Smart Life (a unit linked insurance plan; UIN: 105L145V01), ICICI Pru Savings Suraksha (a non-linked insurance plan; UIN: 105N135V01) and ICICI Pru iCare II (a non-linked term insurance plan; UIN: 105N140V01) which offers financial security for some very important needs in your child’s life
What does this solution offer you?
Savings for future goals:
• A lump sum at maturity for higher education, marriage or startup capital for your child’s dream venture
• Security of Guaranteed Maturity Benefit & Guaranteed Additions.
• #Upto 50% equity exposure
Comprehensive Protection: In the unfortunate demise of either parent,the solution provides:
• Lumpsum Benefit: to take care of immediate liabilities & liquidity to pay for the premiums of the surviving parent.
• Smart Benefit: All future premiums payable under ICICI Pru Smart Life policy of the deceased parent will be paid by the company. The company allocates the units equivalent to the premium amount to the policy every year. The nominee will receive the maturity benefit at the end of the policy term, ensuring that the financial goal stays intact.
In this solution, at inception, for each parent you purchase
• ICICI Pru Smart Life
• ICICI Pru Savings Suraksha
• ICICI Pru iCare II
Disclaimers:
• The Unit linked insurance products do not offer any liquidity during the first five years of the contract. The policyholders will not be able to surrender/withdraw the monies invested in linked insurance products completely or partially till the end of the fifth year. Please refer to the individual product brochures for terms and conditions on withdrawal/surrender after completion of five years.
• Guaranteed benefits in case of ICICI Pru Savings Suraksha are available only if all premiums are paid as per the premium payment term and the policy is in-force till the completion of entire policy term.
• #The equity exposure will depend upon fund selected in ICICI Pru Smart Life.
^The total benefits include Maturity Benefit of Savings Suraksha plus Maturity Benefit of Smart Life. *For split of guaranteed and non-guaranteed return please refer the detailed benefit illustration of individual products mentioned above.Tax benefits on premiums paid and benefits received will be applicable as per the prevailing tax laws. If the policy offers guaranteed returns, then these will be clearly marked “guaranteed” in the Benefit Illustration. Since the policy offers variable returns, the given illustration shows two different rates (4% & 8% p.a.) of assumed future investment returns The returns shown above are not guaranteed and they are not the upper or lower limits of what you might get back, as the maturity value of the policy depends on a number of factors including future investment performance. The above information must be read in conjunction with the sales brochure and policy documents. For the purpose of illustration, we have combined the premiums payable and benefits that you may receive under each plan of this solution.
Assumed rate of return* Lump sum to be paid to you(at the end of the year 10)
8% ` 48,51,942
4% ` 39,94,308
Details of the benefits
Total premiums payable is ` 40 Lakh and total benefitsreceivable is ` 48,51,942^
Scenario 1: What do you get on maturity as a survival benefit
Year 1 Year 10
Maturity benefit of ` 48,51,942assuming at a return of 8%*
Pay ` 4 Lakh perannum for 10 years
LET’S SEE HOW THIS SOLUTION CAN HELP YOU UNDERVARIOUS SCENARIOS:
Year 1 to 10 ` 4 Lakh per annum
Consolidated premiums payable (inclusive of service tax)
Therefore your child’s future goals are secured with theMaturity benefits considering current cost at ` 30 Lakh and
5% annual rate of inflation.
Pay ` 2.2 Lakhper annum for
10 years
1st Smart parent ICICI Pru Smart Life policy continues, and the premium
is paid by the company
Age 35
Maturity benefit of Smart Life of ` 14,12,620 paid to the nominee assuming at a return of 8% (B)*
Age 45
Death benefit of` 73,25,083 paid on death of the1st parent (A)
ICICI PruSavings Suraksha
Total Death Benefit
12,66,823 73,25,083
Details of the Death benefits (Assuming Death after 6th policy year)
ICICI Pru iCare II ICICI Pru Smart Life
10,58,26050,00,000
At the end of the policy term:
Year 1 to 10 ` 4 Lakh per annum
Consolidated premiums payable (inclusive of service tax)
Death Benefit:Nominee will receive a Death Benefit from iCare II, Smart Life & Savings Suraksha.
Total Benefit A B= + C+ 1,09,25,133=
2nd Smart parent
Age 32 Age 42
Maturity benefit of ` 21,87,430assuming a return of 8% (C)*
Pay ` 1.8 Lakh perannum for 10 years
Scenario 2: In the unfortunate demise of 1st Smart parent
Therefore, the child’s future goals are secured even after unfortunate demise of 1st Smart parent
^The total benefits include Maturity Benefit of Savings Suraksha plus Maturity Benefit of Smart Life. *For split of guaranteed and non-guaranteed return please refer the detailed benefit illustration of individual products mentioned above. In the unfortunate event of Life Assured’s death during the policy term, the nominee will receive a lump sum consisting of the death benefits of ICICI Pru iCare II, ICICI Pru Smart Life & ICICI Pru Savings Suraksha. Tax benefits on premiums paid and benefits received will be applicable as per the prevailing tax laws. If the policy offers guaranteed returns, then these will be clearly marked “guaranteed” in the Benefit Illustration. Since the policy offers variable returns, the given illustration shows two different rates (4% & 8% p.a.) of assumed future investment returns The returns shown above are not guaranteed and they are not the upper or lower limits of what you might get back, as the maturity value of the policy depends on a number of factors including future investment performance. The above information must be read in conjunction with the sales brochure and policy documents. For the purpose of illustration, we have combined the premiums payable and benefits that you may receive under each plan of this solution.
Total MaturityBenefit^
Maturity Benefit
14,12,6208% 10,25,587 36,00,05011,61,843
11,33,9624% 8,68,178 29,34,9439,32,803
Assumed Rateof Return
ICICI PruSmart Life
ICICI PruSmart Life
ICICI Pru Savings Suraksha
(2nd Smart Parent)(1st Smart Parent) (2nd Smart Parent)
Death Benefit:Nominee will receive a Death Benefit from iCare II, Smart Life & Savings Suraksha
ICICI PruSavings Suraksha
Total Death Benefit
10,37,276 69,03,126
Details of the Death benefits (Assuming Death after 6th policy year)
ICICI Pru iCare II ICICI Pru Smart Life
8,65,85050,00,000
Total Benefit A B= + C+ 1,07,29,481=
Pay ` 1.8 Lakhper annum
2nd Smart parent ICICI Pru Smart Life policy continues, and the premium
is paid by the company
Age 32
Maturity benefit of ` 11,61,843 paid to the nominee
assuming at a return of 8% (C)*
Age 42
Death benefit of ` 69,03,126 paid on death of the 1st parent (B)
1st Smart parent
Age 35 Age 45
Maturity benefit of ` 26,64,512 assuming a return of 8% (A)*
Pay ` 2.2 Lakh perannum for 10 years
At the end of the policy term:
Year 1 to 10 ` 4 Lakh per annum
Consolidated premiums payable (inclusive of service tax)
Therefore, your child’s future goals are secured even after unfortunate demise of 2nd Smart parent
Scenario 3: In the unfortunate demise of 2nd Smart parent
^The total benefits include Maturity Benefit of Savings Suraksha plus Maturity Benefit of Smart Life. For split of guaranteed and non-guaranteed return please refer the detailed benefit illustration of individual products mentioned above In the unfortunate event of Life Assured’s death during the policy term, the nominee will receive a lump sum consisting of the death benefits of ICICI Pru iCare II, ICICI Pru Smart Life & ICICI Pru Savings Suraksha. Tax benefits on premiums paid and benefits received will be applicable as per the prevailing tax laws. If the policy offers guaranteed returns, then these will be clearly marked “guaranteed” in the Benefit Illustration. Since the policy offers variable returns, the given illustration shows two different rates (4% & 8% p.a.) of assumed future investment returns The returns shown above are not guaranteed and they are not the upper or lower limits of what you might get back, as the maturity value of the policy depends on a number of factors including future investment performance. The above information must be read in conjunction with the sales brochure and policy documents. For the purpose of illustration, we have combined the premiums payable and benefits that you may receive under each plan of this solution.
Total MaturityBenefit^
Maturity Benefit
11,61,8438% 12,51,892 38,26,35514,12,620
9,32,8034% 10,59,365 31,26,13011,33,962
Assumed Rateof Return
ICICI PruSmart Life
ICICI PruSmart Life
ICICI Pru Savings Suraksha
(1st Smart Parent)(2nd Smart Parent) (1st Smart Parent)
POLICY AT A GLANCE
Premium payment Term (PPT)
Policy Term
Minimum Annual Premium
Maximum Annual Premium
Sum Assured on Death
Minimum Age at entry
Maximum Age at entry
Premium payment Mode
10 Years
10 Years
` 4,00,000
Unlimited
` 50 Lakh (for iCare II) + 10 times ofannual premium for other products
(Smart Life + Savings Suraksha)
20 Years
49 Years
Annual / Half-yearly / Monthly
Joint Life Smart Parents
• This combination solution comprises set of policies across one or more products of the company. These products are also available individually with the Company and it is not mandatory for the customer to apply for this combination only. The customer isrequested to go through the individual benefit illustrations of the products in the solution.
• This is not a product brochure. The customer is requested to go through the product brochure of ICICI Pru Smart Life (UIN: 105L145V01), ICICI Pru Savings Suraksha (UIN: 105N135V01) and ICICI Pru iCare II (UIN: 105N140V01) & to take decision to opt for this combination after having fully understood the risk factors, product terms and conditions as briefly indicated below:
• ICICI Pru Savings Suraksha: Reversionary Bonus, Terminal Bonus, Premium Discontinuance, Surrender, Policy revival, Death Benefit, Guaranteed Maturity Benefit (GMB) etc.
• ICICI Pru Smart Life: Investment strategy, Funds, Premium Discontinuance, Policy revival, Loyalty Additions, Wealth Boosters, Surrender, Charge structure, Death benefit, Maturity benefit etc.
• ICICI Pru iCare II: Death benefit
• The individual products under this solution have certain product features like Sum Assured, Death Benefit option, etc. which offer options beyond the ones assumed in the benefit illustrations shown here. My choice with respect to these will not be restricted to what has been shown here and I will be able to choose from all the options available at the time of purchase of the respective products.
• The individual products under this solution have certain product features like Sum Assured, Death Benefit option, etc. which offer options beyond the ones assumed in the benefit illustrations shown here. The customer's choice with respect to these will not be restricted to what has been shown here and he will be able to choose from all the options available at the time of purchase of the respective products.
• For the purpose of illustration, the Company has assumed different rates of investment returns. The returns shown in the illustration are not guaranteed and they are not the upper or lower limits of what the customer might get back, as the value of the policy depends on a number of factors including future investment performance.
• The benefit of this combination solution shall accrue only if the customer continues to pay premiums for the entire premium payment term.
• The benefits available under this combination solution shall be as per the policy terms and conditions of the respective products.
TERMS & CONDITIONS:
ICICI PruSmart Life is a Unit linked insurance plan. ICICI Pru Savings Suraksha is a non-linked participating insurance plan. ICICI Pru iCare II is aa non-linked term insurance plan. Unlike traditional products, Unit linked insurance products are subject to market risk, which affect the Net Asset Values and the customer shall be responsible for his/her decision. The name of the Company, Product names or fund options do not indicate their quality or future guidance on returns. Funds do not offer guaranteed or assured returns. Investments are subject to market risk. © 2015, ICICI Prudential Life Insurance Co. Ltd. Registered Address: ICICI Prulife Towers, 1089, AppasahebMarathe Marg, Prabhadevi, Mumbai - 400025. Reg. No.: 105. Insurance is the subject matter of the solicitation. For more details on the risk factors, terms and conditions, please read the sales brochure carefully before concluding a sale. CIN: U66010MH2000PLC127837. UIN: ICICI Pru Smart Life (UIN: 105L145V01), ICICI Pru Savings Suraksha (UIN: 105N135V01) and ICICI PruiCare II (UIN: 105N140V01) Call us on 1-860-266-7766 (10am-7pm, Monday to Saturday, except national holidays. Valid only for calls made from India). You can email us at [email protected] or visit us at www.iciciprulife.com. Trade Logo displayed above belongs to M/s ICICI Bank Ltd & Prudential IP services Ltd which shall be used by ICICI Prudential Life Insurance Company Ltd under Registered License No.: 105. Advt.: L/II/788/2015-16.
BEWARE OF SPURIOUS PHONE CALLS AND FICTITIOUS/FRAUDULENT OFFERSIRDAI clarifies to public that• IRDAI or its officials do not involve in activities like sale of any kind of insurance or financial products nor invest premiums.• IRDAI does not announce any bonus. Public receiving such phone calls are requested to lodge a police complaint along with details of phone call, number.