Everything You Must Know About ICICI Pru GIFT
Updated On Nov 21, 2021
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The ICICI Pru Guaranteed Income for Tomorrow (GIFT) is a new goal-based savings plan from ICICI Prudential Life Insurance that provides policyholders with a guaranteed income to assist them to achieve their long-term financial objectives. The unpredictability of future income streams can be considerably reduced by using this non-participating savings technique. The life insurance policy, which is crucial for a healthy financial strategy, ensures the family's financial stability. GIFT is a life insurance plan that prioritizes safety and savings while also providing guaranteed benefits to assist people in achieving their life objectives.
Key Features of ICICI Pru Guaranteed Income For Tomorrow Plan
ICICI Pru Guaranteed Income For Tomorrow has the following key features:
- Benefits are guaranteed as a lump sum payment or a monthly payment.
- Starting in the second year, you have the option of receiving guaranteed income.
- Life insurance provides financial security to your loved ones in the event of your death.
- Tax incentives are available on premiums paid and benefits received under current tax legislation.
- It's possible to get a loan against your insurance coverage.
ICICI Prudential Life Insurance's Goal-Based Savings Products
This goal-based savings programme comes in three varieties:
Depending on the policyholder's desire, the maturity benefit can be earned as Guaranteed Income for a period of 5, 7, or 10 years. Because the variable premium payment and income period choices allow income to be matched to educational goals, this option may be appropriate for clients who are planning their child's education. You can pay premiums for 5, 7, or 10 years (PPT) and get Guaranteed Income for 5, 7, or 10 years with this plan choice. The duration of your policy is PPT+1, and you're protected for life throughout that time.
2. Early Profits
This version's Guaranteed Early Money feature allows clients to start earning money as early as the second year of the insurance. Customers no longer have to wait until the insurance policy ends to earn monthly income thanks to the Guaranteed Early Income option. Customers may profit from this option when their financial situation improves. You can pay premiums for 7 or 10 years (PPT) with this plan, and you'll start earning monthly income in the second year. The duration of your policy is PPT+1, and you're protected for life throughout that time. Guaranteed Money is the money you get once the policy time has ended.
3. A One-Time Payment Or A Lump Sum Payment
Customers who select this option must pay the premium just once throughout the purchasing procedure and select the policy period after which they want the Guaranteed lump sum benefit. Customers can also get guaranteed returns and life insurance. The "Save The Date" option is another unique feature of ICICI Pru Guaranteed Income for Tomorrow. This tool may be used to aid with the recall of crucial dates in one's life. People may decide to start receiving money on significant events such as their wedding anniversary, spouse's birthday, and so on.
If you're seeking a life insurance plan that would offer you security and guaranteed benefits for the rest of your life, the ICICI Pru Guaranteed Income for Tomorrow plan could be the best solution for you. You may live a worry-free life knowing that you have a range of plan options to safeguard your family. This strategy also assists you in achieving other life objectives, such as parenthood, marriage, education, and so on. Before we go into the intricacies, let's go through the fundamentals of this approach. As a result, the ICICI Pru Guaranteed Income For Tomorrow product has been developed.
Also read - What Is PPF? What Are Its Benefits?
Disclaimer: This article is issued in the general public interest and meant for general information purposes only. Readers are advised not to rely on the contents of the article as conclusive in nature and should research further or consult an expert in this regard.