Product features
- Adds to your regular income in the form of Guaranteed Cash Benefit*
- Get a lump sum payout at maturity^
- Life cover for financial security of your family’s future in your absence
- Flexibility to choose premium payment term of either 5,7 or 10 years
- Tax benefits on premiums paid and benefits received as per prevailing tax laws
How this plan works
Amit is a 30-year-old banking professional who was recently blessed with a daughter. He understands his responsibilities towards his daughter’s education as well as the need to protect his daughter’s future in case anything unfortunate befalls him. To meet these requirements ICICI Pru Cash Advantage is the best solution for his needs.
Annual Premium: INR 100,000
Premium payment term: 10 years
Policy term: 20 years
Life cover: INR 10,00,000
Amit will receive guaranteed cash benefit of INR 5,307 per month for his daughter’s school education
On maturity, Amit will receive Guaranteed Maturity Benefit of INR 530,701 plus bonuses of INR 1,063,925 at 8% ARR and INR 235,672 at 4% ARR for his daughter's college education
ARR stands for Assumed rate of return. If the policy offers guaranteed returns, then these will be clearly marked "guaranteed" in the Benefit Illustration. Since the policy offers variable returns, the given illustration shows two different rates of assumed future investment returns. The returns shown above are not guaranteed and they are not the upper or lower limits of what you might get back, as the maturity value of policy depends on a number of factors including future investment performance.
- *Guaranteed Cash Benefit (GCB) is payable in advance during the payout term provided the life assured is alive and the policy is fully paid, payout term begins as soon as the premium payment term is over and terminates at the end of the policy term. GCB can be received in monthly or annual installments. GCB is a percentage of the Guaranteed Maturity Benefit (GMB) and depends on cash benefit mode opted. It is equal to 1% of GMB every month throughout the payout term of 10 years for monthly mode and 11.5% of GMB every year for annual payout mode.
- ^GMB is the Sum Assured on Maturity and will be calculated, at inception, based on your premium, premium payment option, premium payment mode, Sum Assured on Death, cash benefit mode, age and gender.
- Life Cover is the benefit payable on death of the life assured during the policy term.
- Tax benefits under the policy are subject to conditions under Section 80C, 10(10D) and other provisions of the Income Tax Act, 1961. Applicable taxes will be charged extra as per prevailing rates. Tax laws are subject to amendments from time to time.
Insurance is the subject matter of solicitation. AU Small Finance Bank Limited ("AU Bank") with registered office at 19-A, Dhuleshwar Garden, Ajmer Road,Jaipur- 302001, Rajasthan (CIN: L36911RJ1996PLC011381) is a corporate agent (Composite, IRDAI Reg No.: CA0515 valid till 30/08/2023) of ICICI Prulife. The purchase by AU Bank’s customer of any insurance products offered by ICICI Prulife is purely on voluntary basis and the policy is not a linked product of any other facility offered by AU Bank. Tel.: 1800 1200 1200 / 1800 26 66677.
© ICICI Prudential Life Insurance Co. Ltd. All rights reserved. Registered with Insurance Regulatory & Development Authority of India (IRDAI) as Life Insurance Company. Regn. No. 105. CIN: L66010MH2000PLC127837. Registered Address: ICICI PruLife Towers, 1089, Appasaheb Marathe Marg, Prabhadevi, Mumbai - 400025. Tel.: 40391600. Customer helpline number - 1860 266 7766. Timings – 10:00 A.M. to 7:00 P.M., Monday to Saturday (except national holidays). Member of the Life Insurance Council. For more details on the risk factors, term and conditions please read the product brochure carefully before concluding the sale. Trade Logo displayed above belongs to ICICI Bank Ltd & Prudential IP services Ltd and used by ICICI Prudential Life Insurance Company Ltd under license. ICICI Pru Cash Advantage Form No.: E10, Non-Linked Participating Life Individual Savings product UIN: 105N132V02 Advt. No. W/II/3355/2021-22.To know more, please visit www.iciciprulife.com.
The insurance products offered here are underwritten by ICICI Prudential Life Insurance Company Limited.
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