ICICI Pru Gold Pension Savings Plan

ICICI Pru Gold Pension Savings is a retirement savings plan designed to help you accumulate a substantial corpus for a secure future. It offers a combination of guaranteed returns and the potential for higher returns through bonuses.

Peaceful Post-Retirement Life
Tax Free Regular Income
Wealth Generation to beat Inflation

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9.7 Crore Registered Consumer
51 Partners Insurance Partners
4.9 Crore Policies Sold

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Invest ₹6,000/month & Get Tax Free Monthly Pension of ₹60,000

Get the best^˜ returns & make the most of your golden years

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We are rated⁺⁺

9.7 Crore

Registered Consumer

Insurance Partners

4.9 Crore

Policies Sold

Disclaimer: ##Rs 60,000 are the monthly pension amounts at the assumed rate of return of 8% p.a. and 4% p.a. for unit linked insurance plans. This is an illustrative example and the returns are not guaranteed & dependent on the policy term and premium term availed along with the other variable factors. The market linked return of 60K per month is for an 18 year old investing 6k per month for 20 years in a whole life policy having policy term 82 years in which Systematic partial withdrawals start at the age of 65 years at 5% rate of withdrawal per year. The investment risk in the policy is borne by the policyholder. All Plans listed here are of insurance companies’ funds. *Tax benefits and savings are subject to changes in tax laws. All Plans listed here are of insurance companies’ funds. Disclaimer: #The investment risk in the portfolio is borne by the policyholder. Life insurance is available in this product. The maturity amount of Rs 1 Cr. is for a 30 year old healthy individual investing Rs 10,000/- per month for 30 years, with assumed rates of returns @ 8% p.a. that is not guaranteed and is not the upper or lower limits as the value of your policy depends on a number of factors including future investment performance. In Unit Linked Insurance Plans, the investment risk in the investment portfolio is borne by the policyholder and the returns are not guaranteed. Maturity Value: ₹1,05,02,174 @ CAGR 8%; ₹50,45,591 @ CAGR 4%. *Tax benefits and savings are subject to changes in tax laws. All plans listed here are of insurance companies’ funds.

What is the ICICI Pru Gold Pension Savings Plan?

ICICI Pru Gold Pension Savings is a retirement savings plan designed to help you build a substantial corpus for your retirement. It offers a combination of guaranteed returns and potential for higher returns through bonuses. The plan provides flexibility, allowing you to withdraw a portion of your savings for specific needs. Additionally, it offers periodic health check-ups and the option to defer annuity payments to further grow your corpus. By choosing ICICI Pru Gold Pension Savings, you can secure your financial future and enjoy a comfortable retirement.

Features of ICICI Pru Gold Pension Savings Plan

Below are the features of the ICICI Pru Gold Pension Savings Plan:

Guaranteed Returns: Ensures a minimum return of 105% of total premiums paid.
Bonus Potential: Offers the opportunity to earn additional returns through regular and terminal bonuses.
Flexible Withdrawal Options: Allows you to withdraw a portion of your savings for specific needs.
Health Check-up Benefit: Provides periodic complimentary health check-ups.
Deferred Annuity Option: Offers the flexibility to deferred annuity payments and continue growing your corpus.
Tax Benefits: Provides tax benefits under the Income Tax Act as per prevailing laws.

Eligibility Criteria of ICICI Pru Gold Pension Savings Plan

Premium Payment Term (PPT)	Min/ Max Policy Term (PT)	Min/ Max Age at Entry	Min/ Max Age at Vesting	Min/ Max Premium
Single pay: One year	10 years / 40 years	18 years / 70 years	40 years / 80 years	Minimum – Single pay: ₹ 50,000 Limited/ Regular pay: ₹ 50,000 p.a. Maximum – Subject to internal company guidelines (Board Approved Underwriting Policy)
Limited pay: 2 years to 15 years
Regular pay: 10 years to 40 years

Benefits of ICICI Pru Gold Pension Savings Plan

Below are the benefits of the ICICI Pru Gold Pension Savings Plan:

Guaranteed Returns:
- Assured benefit of 105% of total premiums paid.
- Potential for additional returns through bonuses.
Flexible Withdrawal Options: Access funds for emergencies or major life events through the Special Withdrawal feature.
Health Check-up Benefit: Avail periodic complimentary health check-ups to maintain your well-being.
Deferred Annuity Option: Continue growing your retirement corpus at a reverse repo-linked rate by deferring annuity payments.
Investment Flexibility: Choose from various investment options to align with your risk appetite and financial goals.
Faster Policy Issuance:Quick policy issuance process for a hassle-free experience.

How It Works:

Vesting Benefit: Upon policy maturity, you receive a vesting benefit, which includes:

105% of total premiums paid
Accumulated bonuses
Less any withdrawals made

Death Benefit: In case of unfortunate demise during the policy term, a death benefit is paid to the nominee, which includes:

105% of total premiums paid
Accumulated bonuses
Interim bonus
Terminal bonus

Additional Benefits:

Special Withdrawal:Withdraw up to 25% of total premiums paid for emergencies.
Silver's Benefit:Avail periodic complimentary health check-ups.

Conclusion

The ICICI Pru Gold Pension Savings Plan presents a viable retirement savings option with its blend of guaranteed income and potential for growth through bonuses. The plan provides a structured approach to retirement planning, offering tax benefits and the security of a regular income stream during post-retirement years. However, potential investors should carefully evaluate the plan's features, including its terms and conditions, performance history, and associated risks, before making an investment decision.

˜Top 5 plans based on annualized premium, for bookings made in the first 6 months of FY 24-25. Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by any insurer. This list of plans listed here comprise of insurance products offered by all the insurance partners of Policybazaar. For a complete list of insurers in India refer to the Insurance Regulatory and Development Authority of India website, www.irdai.gov.in
*All savings are provided by the insurer as per the IRDAI approved insurance plan.
^The tax benefits under Section 80C allow a deduction of up to ₹1.5 lakhs from the taxable income per year and 10(10D) tax benefits are for investments made up to ₹2.5 Lakhs/ year for policies bought after 1 Feb 2021. Tax benefits and savings are subject to changes in tax laws.
+Returns Since Inception of LIC Growth Fund
¶Long-term capital gains (LTCG) tax (12.5%) is exempted on annual premiums up to 2.5 lacs.
++Source - Google Review Rating available on:- http://bit.ly/3J20bXZ
^^The information relating to mutual funds presented in this article is for educational purpose only and is not meant for sale. Investment is subject to market risks and the risk is borne by the investor. Please consult your financial advisor before planning your investments.