ICICI Prudential introduces retirement plan with assured returns

NEW DELHI: ICICI Prudential Life Insurance has launched a retirement resolution by combining two variants of ‘Guaranteed Pension Plan’ (deferred and fast annuity), which presents a assured return on investments.

According to a press launch, “This solution provides customers with increasing regular income that doubles after five years and triples after the 11th year, thereby shielding them against the rising cost of living.”

The annuity merchandise allow clients to plan for his or her retirement and can be found in two variants i.e. fast and deferred annuity. The fast annuity possibility permits clients to begin receiving common revenue instantly by paying a one-time premium. On the opposite hand, the deferred annuity possibility offers clients the pliability to begin receiving revenue sooner or later, as an illustration nearer to retirement. Customers have the choice to defer the beginning of the revenue for a most interval of 10 years. The longer the deferment, the upper can be the revenue.

Key advantages:

Guaranteed lifelong annuity: Pay as soon as (buy value) and get assured common revenue in your total life (annuity)

Choose your retirement date: Choose to obtain your annuity now or defer it by 1-10 years

Flexibility to obtain annuity month-to-month, quarterly, half-yearly or yearly

Option to take the plan for single life or joint lives

Wide vary of annuity choices: Choose from 11 annuity choices to fit your monetary wants

Early return of buy value choices: Options to obtain buy value again from age 76 or at age 80

Return of buy value possibility on demise, vital sickness or everlasting incapacity as a consequence of accident

High buy value profit offers you further annuity as per the acquisition value slab and annuity possibility

The top-up possibility helps you to enhance your annuity and profit from a excessive buy value

The ICICI Pru Guaranteed Pension Plan annuity product presents a good thing about early return of buy value from the age of 76 years or on turning 80. It additionally presents return of buy on demise or upon being identified with particular vital sicknesses or everlasting incapacity as a consequence of an accident.

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