ICICI Pru Wealth Protector

A savings oriented plan that provides financial protection to your family. In this plan the policy holder gets return on the end of the policy term or on the sudden demise of the life insured. A ULIP plan is one whose return mainly depend on the market conditions and gives returns both on maturity of the policy or on the sudden demise of the policy holder.

Key Features

  • Financial protection to loved ones
  • Limited premium paying term
  • Obtain loyalty benefit

Benefits

  • Maturity benefit
On maturity the life insured gets fund value. Fund value is calculated by multiplying balance units and unit price. The fund value can be taken in periodical installments.
  • Death benefit
The nominee receives highest of sum assured or the fund value on death of the life insured.

Am I eligible?

PARAMETER MINIMUM MAXIMUM
ENTRY AGE 8 70
POLICY TERM 5
AGE OF MATURITY 18 80
PREMIUM PAYEMENT TERM SINGLE 5
PAYMENT TERMS ANNUAL, SEMI-ANNUAL, QUARTERLY, MONTHLY

What if?

  • I am unable to pay on time
A grace period is provided based on the payment frequency. The policy is continued if you make the payment within the time period else the policy is lapsed.
  • I stop the payment
If the policy is surrendered within 5 years then the fund value will be moved to discontinued policy fund. If it is surrendered after 5 years fund value will be paid out.
  • I wish to take a loan
No loan option is available in this policy.

Exclusions

  • The nominee will receive fund value of the amount of premiums paid if the life insured commits suicide.