ICICI Prudential Elite Wealth II Plan

ICICI Prudential Elite Wealth II Plan is a unit-linked insurance plan (ULIP) for the elite investors. The plan offers multiple investment options and fund choices. The policyholder will receive the fund value on the maturity date. It is a savings and protection oriented unit linked insurance plan. ICICI Prudential Elite Wealth II plan offers multiple options for investments on premium payment and fund choices. ICICI Prudential Wealth II plan provides Life insurance cover to protect your family in case of your unfortunate demise.

Key Features

  • Flexibility of premium payment – one pay, five pay & regular pay
  • Choice of portfolio strategy – diversify risk across portfolios
  • Low Fund Management Charge (FMC)
  • Wealth Boosters – extra units gets added at end of 5th year, starting from end of 10th year
  • Unlimited free switches under fixed portfolio strategy

Benefits

  • Maturity benefit
On maturity, the Fund Value (including top fund value) is paid to the policyholder according to the investment option chosen.
  • Death benefit
  • Sum assured including top-up sum assured, if any minus partial withdrawals if done so far
  • Minimum Death Benefit 105% of total premiums paid including top up premium
  • Fund value including top up fund value
    • Income Tax Benefit
    Life Insurance premiums paid up to Rs. 1, 50,000 are allowed as a deduction from the taxable income each year under section 80C.

    Add-ons

    • Rider benefit
    Income Benefit rider is available under this plan. Under this rider, 10% of the rider sum assured will be payable on each policy anniversary following death till the end of the policy term.
    • Top-up
    This is an additional saving over and above your fund value, the minimum top up premium is 2000. Your Sum Assured will increase by Top-up Sum Assured when you avail this facility.

    Am I eligible?

    PARAMETER MINIMUM MAXIMUM
    ENTRY AGE 0 70
    POLICY TERM 10 30
    AGE OF MATURITY 18 80
    SUM ASSURED 5,00,000 NO LIMIT

    What if?

    • I want to do Partial Withdrawal in my policy
    Partial withdrawals are allowed only after completion of 5 policy years. One Partial Withdrawal is allowed in each policy year upto a maximum of 20% of the existing Fund Value. The minimum amount for partial withdrawal is Rs 2,000.
    • I stop the payment
    If the policy holder wants to surrender the policy before completing 5 years, then the insurance cover will cease and the fund value net of any discontinuance charge will be transferred to the Discontinued Policy Fund.
    • I wish to take a loan
    There is no loan available under this plan.

    Exclusions

    • If the Life Assured, commits suicide within one year from the date of issuance of the policy or from the date of policy revival, only the Fund Value, including Top- up Fund Value, if any, as available on the date of death, would be payable. No charges will be deducted after the date of death.