ICICI Prudential Pinnacle Super

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ICICI Prudential Pinnacle Super Plan

 

ICICI Prudential Pinnacle Super Plan is a unit linked insurance plan (ULIP) with highest NAV guarantee. In this plan, you can choose the guarantee option according to your risk appetite. If the Life Insured dies within the policy tenure, the nominee would receive the Sum Assured or the Fund Value, whichever is higher as Death Benefit for 1-Pay Option and both Sum Assured + Fund Value as Death Benefit for 5-Pay Option. The Maturity Benefit is the Fund Value according to the fund option selected.

 

Compare ULIPs  

 

Key Features of ICICI Pru Pinnacle Super Plan

  • There is an option of choosing Dynamic Asset Allocation Fund where the professional Fund Managers aim to increase your portfolio
  • Loyalty Addition of 2% of the fund value is provided at maturity
  • There are 3 options for Highest NAV Guarantee Fund, which needs to be selected at inception
    • ­Highest NAV Fund A- Guarantees the highest recorded NAV within the first 7 years subject to a minimum of Rs 10
    • ­Highest NAV Fund B- Guarantees 110% of the highest recorded NAV within the first 7 years subject to a minimum of Rs 11
    • ­Highest NAV Fund C- Guarantees the highest recorded NAV within the first 7 years subject to a minimum of Rs 15
  • There are 12 Funds to choose for investment purpose and 2 portfolio strategies
  • The Sum Assured can be increased and decreased at any policy anniversary

 

 

Benefits you get from ICICI Pru Pinnacle Super Plan

 

Death Benefit – In case of death of the Life Insured, the nominee would get Sum Assured or the Fund Value, whichever is higher for 1-Pay Option and both Sum Assured + Fund Value for 5-Pay Option.

 

Maturity Benefit – On maturity, the Fund Value is paid to the policyholder according to the investment option chosen.

 

Income Tax Benefit - Life Insurance premiums paid up to Rs. 1,00,000 are allowed as a deduction from the taxable income each year under section 80C

 

 

Eligibility conditions and other restrictions in ICICI Pru Pinnacle Super Plan

 

 

Minimum

Maximum

Sum Assured (in Rs.)

For age< 45 yrs, 125% of Premium for 1-Pay and 10 X AP for 5-Pay

For age>= 45 yrs, 125% of Premium for 1-Pay and 7 X AP for 5-Pay)

For age< 60 yrs, 500% of Premium for 1-Pay and For age>= 60 yrs, 125% of Premium for 1-Pay
For 5-pay, As per the Sum Assured Multiples

Policy Term (in years)

10 years

Premium Payment Term (in years)

Single

5 years

Entry Age of Policyholder

8 years

70 years for 1-Pay

65 years for 5-Pay

Age at Maturity

18 years

80 years for 1-Pay

75 years for 5-Pay

Single Premium (in Rs.)

 

 

Payment modes

Single and Yearly

 

 

 

Additional Features and Benefits of ICICI Pru Pinnacle Super Plan

 

Riders – There is 1 rider available in this policy

·         Waiver of Premium on Critical Illness Rider

 

Investment Fund Options - There are 12 Investment Funds available

1.     Opportunities Fund

2.     Multi Cap Growth Fund

3.     Bluechip Fund

4.     Multi Cap Balanced Fund

5.     Income Fund

6.     Money Market Fund

7.     Return Guarantee Fund

8.     Dynamic P/E Fund

9.     Maximiser V Fund

10.   Highest NAV Fund A

11.   Highest NAV Fund B

12.   Highest NAV Fund C

 

And 2 Portfolio Strategies available

1.     Fixed Portfolio Strategy

2.     Trigger Portfolio Strategy

 

Top-up - The minimum and maximum amount for Top-up is Rs 2,000 and sum assured automatically increases either by 125% or 500% of the top up premium amount. Top Up can be done any time in the first 5 years of the policy and each Top Up is locked for 5 years.

 

Switching - Switching is allowed within Fixed Portfolio Strategy. Switching from a non-guaranteed NAV Option to Guaranteed NAV Option is not allowed.

 

Partial Withdrawal - Partial withdrawals are allowed only after completion of 5 policy years or the life insured is at least 18 years old.

 

                                             

What happens if?

 

You stop paying the premium before 5 years – For Single pay Option, this condition is not available.

For 5-Pay Option, if the policy holder stops paying the premium, the insurance cover will cease and the fund value net of any discontinuance charge will be transferred to the Discontinued Policy Fund. The Discontinued Policy Fund will be credited with a minimum interest rate of 3.5% p.a. and the proceeds from this will be payable after the fifth policy anniversary. In case of death of the Life Assured during this period, only the accumulated fund value will be payable to the nominee.

 

You stop paying the premium after 5 years - If the policy holder stops paying the premium after 5 years, then the accumulated policy fund amount till the date of discontinuance shall be paid to the policy holder and the policy will terminate immediately.

 

You want to surrender the policy – Surrender of Plan is not allowed in the first 5 years. If the policyholder surrenders the policy after completion of 5 policy years, then the insurance cover will cease and your fund value shall be paid immediately and the policy would be terminated.

 

You want a loan against your policy - There is no loan available under this plan.

 

 

Alternate ULIPs from different insurance companies


BSLI Dream Endowment Plan

SBI Life Smart Performer

Tata AIG Life Invest Assure Flexi Supreme

 

 

Other ULIPs from ICICI Prudential Life Insurance


ICICI Prudential LifeStage Wealth II

ICICI Prudential LifeLink Wealth SP

ICICI Pru Life Time Premier

ICICI Prudential SmartKid Premier

ICICI Prudential Elite Wealth

ICICI Prudential Pinnacle Super

~ By Deepak Yohannan
Note: This is a statement of facts based on the information collected from the ICICI Prudential Pinnacle Super brochure and insurance company's website. It should not be construed as a Critical or Favourable ICICI Prudential Pinnacle Super Review, Analysis or Recommendation.
Insurance is a subject matter of the solicitation.


Leave a Comment

I am Debasish working in Gulf Country. I was told by ICICI executive to invest Rs.75000 annually for 5 years in ICICI Pru Pinnacle Super - LP. May I know how much will I get after 5 years. Also I have put in Rs.100000 in ICICI Pru Wealth Building Plan for 5 years. I don't know how to tract this policy. Would be grateful if somebody can response. Thanking you

By Debasish Raju Sarkar on May 21, 2014 Reply

Try to locate your policy number (it is mentioned on the policy document)
Call up the ICICI Prudential Helpline and quote your policy number. They will share with you the guaranteed maturity amount and non-guaranteed maturity amount
If you are calling from Outside India then dial +91 22 6193 0777
If you are calling from India then Call 1860 266 7766
 

Replied By Manoj Aswani (MIC Staff) on May 22, 2014 Reply

I am Ramesh , your icici executive came to me & suggested to take the icici pinnacle super plan , you will get to much return comparatively mutual fund.. I invested amount in various mutual fund .I redeemed the fund & as per icici executive I invested the 50000/ yr in this same plan last two years, still it is not performed well .some executive misguide to customer.

By Ramesh Bansode on Apr 02, 2014 Reply

Hi Ramesh,

MyInsuranceClub is an IRDA approved web aggregator. We do not have any field executives who sell insurance plans.

Coming to your query – ULIPs are long-term investment products. If you start judging the returns in 2 to 3 years, then you are bound to find lesser returns. ULIPs need time to grow and give healthy returns.
 

Replied By Manoj Aswani (MIC Staff) on Apr 02, 2014 Reply

I have in pinnacle super - LP UIN starting from 31-01-2012. @Rs 200000/year. How much I get back after 5 pay period ?

By Nimesh Das on Jan 28, 2014 Reply

Hi Nimesh, this is a ULIP plan and there is no way you can predict the returns in advance. It will depend on how your funds are managed and hence their performance. What you get is the Fund Value which has accumulated.

Choose the Investment fund option which best suits your risk profile.

Replied By Deepak Yohannan (MIC Staff) on Jan 28, 2014 Reply

I have invested for 3 years in ICICI Pinnacle Super-LP Policy with a premium of 60000/Year I want to withdraw my fund and invest in a bank please advise on this

By Rajesh Bhosale on Dec 03, 2013 Reply

Hi Rajesh, in this plan you cannot withdraw your money before the completion of 5 policy years. You can choose to discontinue the premium payment, in which case a charge of Rs. 1,000 (as you are in the 4th year) would get deducted and the amount would only be credited to you after 5 policy years. Some benefits will also cease to exist depending on the kind of fund you are invested in.

Please read the policy document completely before taking the final call. Do write back to us in case you have any queries.

Replied By Deepak Yohannan (MIC Staff) on Dec 04, 2013 Reply

Dear All,

I started Investing in this 3 years again, my return till date is -1.4% and if I include the opportunity return lost, it is more than -6%. Suppose if I invested in FD, I would have got 9% return on 60000 every year. I do not think it is a good investment plan.

By Nahar Tarun on Nov 18, 2013 Reply

BOHOOOOOOOOOOOOOOO WHY ARE THEY SHUTTING DOWN THIS PLAN ANYWAYS IF IT IS GOOD

By Rajiv Mehta on Sep 25, 2013 Reply

I realized in a very short period after paying ICICI Prudential Rs. 400000 premium that the ICICI Pru Pinnacle Super -LP is a hoax, I would have made more money in a fixed term deposit.
I have three more installments left to pay and I am crying already as I find out that my life is not insured at all for Rs. 105000 (Ten Lakhs Fifty Thousand) as the agent promised. There is a whole lot of fine print that says my nominee will get the money only after maturity after 10 years that too not in full.
I have been fooled to pay too much premium of Rs. 1.5 Lacs for a cover of just 1050000. One should always go for a policy which covers maximum risk at the lowest price.
The money market is manipulated so that the rich get richer and the poor get poorer. If your agent promises 10% you actually get only 7% as 3% is eaten away by commissions and other hoaxes.
Put your money in Public provident Fund it assure you 8.5 % per annum plus tax free interest plus
80cc tax benefits

By Rajiv Mehta on Sep 25, 2013 Reply

excellent plan to make a short term investment. good returns. better than FD / RD

By Thulasi on Jul 14, 2012 Reply

as per munuswamy query about locking period irda has announced such parameters so that there is no shortcut for sucees,,, sir ...

By Ruan on Jul 12, 2012 Reply

its realy good.i will get it soon....

By Earl Perry on Jul 03, 2012 Reply

I 2 AGREE BUT THE PROBLEM IS 5 YEARS LOCKIN PERIOD

By Munuswamy on Jul 02, 2012 Reply

Dear Friends
Pinnacle super is doing good & its better than current days FD

By Vishal Mehta on Jul 02, 2012 Reply

if possible kindly provide details of my policy. i.e. policy no., amount insured.

By Devendra Kadam on May 26, 2012 Reply

agent told me in this pinnacle super bank give you 12%cumulative intrest p.a. + higest nav is that true can you guide me what is truth?

By Kishor Bherwani on Apr 20, 2012 Reply

suppose I will invest rs fifty thousand per annum for countious five years. total I pay RS
two lakhs and fifty thousand then what iwill get after five years.&7 years in pinnacle super plan. Kindly Email to me

By Ramesh Seth on Mar 30, 2012 Reply

Agents told me that in icici pro pinnacle super investment plan, i'll get a intrest rate of 20% which is coumpounded ibtrest. Is that correct? How does a ibvest plan return intrest rate of 20% when sbi plans give intrest of only 8.5%? Agents also told me bout insurence of 5lk along withthis investment. I m confused now. Plz clarify my doubts with details of intrest rate and policy.

Akhilesh Kumar
Ph@7738606802

By Akhilesh Kumar on Mar 25, 2012 Reply

I AM CONFUSED ABOUT THIS POLICY OF PINNACLE ,3 YEAR PAYMENT . WHY YOU ARE WRITING ONLY TWO TYPE OF ONE AND FIVE PAYMENTS POLICY YOU HAVE. PLEASE CLARIFY ON MY MAIL .....REGARDS...

By Gopal K Banerjee on Mar 24, 2012 Reply

I HAVE A PINNACLE ACCOUNT FOR 3 PAYMENTS ONLY. IN ABOVE YOU MENTIONED THAT THERE IS TWO POLICY SYSTEMS OF 1 AND 5 PAYMENTS.
WHAT DOES THAT MEANS? MY POLICY IS NOT VALID OR WHAT ?

I GET PHONE CALLS FROM YOUR EJENTS EVERY NOW AND THEN .THEY SAY THAT THERE IS NO POLICY OF PINNACLE FOR 3 PAYMENTS. CAN YOU PLEASE
CLEAR MY OWRIES . MAY I WAIT FOR YOUR ANS. IN MY MAIL NO.

By Gopal Kr. Banerjee on Mar 24, 2012 Reply

If i invest say Rs20000 in this policy every year. then on maturity i.e. after 10 years the whole amount which i receive will be taxable or not?

By Punit on Mar 23, 2012 Reply

hi I m with ICICI PRUDENTIAL if having more queries about this plan. pls contact. 9911335357

By Abhishek on Mar 17, 2012 Reply

hi I m with ICICI PRUDENTIAL if having more queries about this plan. pls contact.

By Abhishek on Mar 17, 2012 Reply

Dear,
Pl. advise each charges specifically on policy, including, to be recovered by you on payment of each instalment

Pl. advise total penalties/charges on payment to holder after completion of 5 years.
Pl. also advise gross and NET amt. payable.....whether highest NAY during 5 yrs or any other amout
Thanks
091 9687737737

By Arvind Mandalia on Mar 09, 2012 Reply

I Wants details about iciciprulife (pinnacle).

By K.Gunasekaran on Mar 07, 2012 Reply

Please send the pinnacle super plan leaflat and detail

By P.R.Associates on Mar 05, 2012 Reply

this is very goog plan . if you have minimum 50000 in your pocket you should invest in this plan.

By Vikram on Jan 25, 2012 Reply

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