ICICI Pru Wealth Builder II Plan

A savings oriented plan that provides financial protection to your family. This plan provides you capital guarantee besides good returns and life insurance coverage. 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
  • Fixed portfolio strategy – allocate savings in funds of your choice
  • Life cycle based portfolio strategy – creates a balance between equity and debt based on your age

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.
  • Partial withdrawal
Partial withdrawal is possible only after 5 years. Withdrawal can be done any number of times until the amount withdrawn is less than 20% of fund value.

Add-ons

  • Rider benefit
Unit linked accidental death rider

Am I eligible?

PARAMETER MINIMUM MAXIMUM
ENTRY AGE 0 69
POLICY TERM 10 25
AGE OF MATURITY 18 79
PREMIUM PAYEMENT TERM LIMITED, REGULAR
PAYMENT TERMS ANNUAL, SEMI-ANNUAL, MONTHLY, SINGLE

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 surrender the policy
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.