The ICICI Pru Life Time Gold is a unit linked premium policy with services like higher returns through the funds that invest in the 50 large cap companies.
This policy also provides the benefits of protection of an insurance cover. It also provides financial security for the family of the policy holder.
The chief features of the ICICI Pru Life Time Gold are:
• The minimum and maximum ages of entry of the policies are 0 to 65 years respectively.
• The maximum age of policy maturity is 75 years.
• The minimum and maximum policy terms are 10 years to 75 years.
• The available premium payment frequencies are monthly, half yearly and yearly.
• The minimum amount of premium to be paid is Rs 20000 per annum for yearly mode and Rs 24000 per annum for half yearly and monthly mode.
• The minimum sum assured in ICICI Pru Life Time Gold is 5 times of annual premium which is subject to Rs 1 lakh minimum.
• The premiums paid for policy and issue of critical illness are eligible for tax. Any amounts paid to the customer are eligible for tax benefits according to the income tax laws.
The benefits available from the ICICI Pru Life Time Gold are:
• The policy terms are flexible as the user can decide for how long to continue with the policy. It gives a time period of minimum 10 years and maximum 75 years.
• The customer can also choose the premium payment options either to be paid monthly, bi – annual, or on annual basis.
• The policy holder also gets the facility in ICICI Pru Life Time Gold to withdraw amount in installments from the 4th year of the policy.
• In the death benefit if something happens to the policy holder the family will receive the highest amount of fund value or the assured sum decided at the time of taking the policy.