ICICI Prudential Pinnacle Super

  •   Views
  •   Views

 

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

Compare Ulip Plans

Leave a Comment

Company Information

Connect with Us

Insurance Regulatory & Development Authority (IRDA) License Details

Important: Insurance is the subject matter of solicitation

© 2009-14 MyInsuranceClub.com