Preview of ICICI Pru Elite Pension Plan

By | October 13, 2009

There are a host of insurance, saving and financial planning options in the market. In this blog, we attempt to give you information on most of such products available in the market. Provided below is an overview of ICICI Pru Elite Pension plan. Check it out to see if it works for you!

ICICI Pru Elite Pension is a unique unit-linked pension policy which offers you great flexibility by enabling you to pay premiums for a limited period and boost your investment by making top-ups. The accumulated value of your policy ensures you a regular pension for life.

Key benefits of the plan include:

– Pay premiums for only 3 years.

– Choose from 5 pension options

– Invest your surplus money over and above your premiums as top-ups, at any time during this life insurance policy term.

– There will be an additional allocation of units at the end of every 5th policy years at the rate of 1.5% of the average of the daily fund values in the policy year preceding the said allocation

– Choose from 8 investment funds to invest your money, based on your financial goals and risk profile.

– Flexibility to choose the date from which you want to start receiving pension

– Receive up to one-third of the accumulated value as a tax-free lump-sum on your retirement day. Also, enjoy tax benefits on the premiums you pay (under u/s 80 CCC) and tax exemptions on death benefits.

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About Pradeep Yuvaraj

Pradeep Yuvaraj is a Co-Founder and Director at Finerva Financial Solutions Private Limited, a financial education company focused on personal finance education. He has penned over 250 articles relating to Personal Finance and clocked over 500 hours of educating individuals on managing personal finance. He is a serial entrepreneur and has been associated with 7 Start-ups. His entrepreneurial experience spans industries as varied as Education, Gas Engineering, Automobile Design, Software development and more recently a Pure play presentation design company. Prior to turning entrepreneur in 2005, he has worked for 3 of the top ten companies of the world - Shell, ExxonMobil and Total SA. This experience included handling Branch Operations, Channel Sales and Business Development across 5 states over a period of 8 years. He holds an MBA from Symbiosis and an Electronics Engineering Degree from the University of Pune.

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