In an era of rapid economic growth and evolving aspirations, securing your family’s financial future while building wealth has never been more essential. ICICI Pru Protect N Gain emerges as a versatile solution, blending the security of life insurance with the opportunity to grow your investments through market-linked returns.
– Comprehensive Coverage and Wealth Creation
ICICI Pru Protect N Gain is a unit-linked insurance plan (ULIP) designed to offer dual benefits: robust life cover and potential wealth accumulation. It ensures that your family remains financially protected, even in your absence, while allowing your investments to grow over time.
– What makes ICICI Pru Protect N Gain special?
Protect your family’s future with Life Insurance cover.
Grow your wealth through market linked returns. Choose amongst two plan options based on your life stage needs and requirements.
Get rewarded for continuing with the policy till maturity with Maturity Booster
Avail monthly payouts for your supplementary income needs through Systematic Withdrawal Plan (SWP)
Tax benefits may be available on premiums paid and benefits received as per prevailing tax laws
– Choose between two plan options – “Life” and “Growth”
– Life Option Benefits:
Return of 2X premium allocation charges and mortality charges from 11th policy year.
Return of 4X mortality charges from 26th policy year.
Maturity booster to boost your fund value at maturity.
– Growth option Benefits:
Return of 1X premium allocation charges and mortality charges from 11th policy year.
Return of 2.5X mortality charges from 26th policy year.
Maturity booster to boost your fund value at maturity.
Benefits In detail
1. Death Benefit:
Under both the Plan Options, if the person whose life is covered by this policy (known as the Life Assured) passes away during the policy term, the insurance cover amount will be paid out as a lump sum to the Claimant, provided the policy is in-force and the monies are not in the Discontinued Policy Fund.
2. Maturity Benefit:
As you pay your due premiums, the premiums grow at a rate (based on the performance of the funds when allocated in your choice of funds.
– Additional Benefits
Avail additional protection through ICICI Pru Linked Accidental Death & Disability Rider.
Under this rider:
Accidental Death rider sum assured will be payable in addition to death benefit if death is due to accident.
Accidental Disability rider sum assured will be payable in case the life assured is afflicted with covered permanent disability due to an accident.
Avail additional protection though ICICI Pru Linked Waiver of Premium Rider.
Under this rider:
Get waiver on all future premiums on occurrence of unforeseen events like Death,
Accidental Total Permanent Disability, Terminal illness, and Critical Illness (depending on plan option).
– Why Choose ICICI Pru Protect N Gain?
This plan stands out for its balance of protection and growth. Whether you’re a young professional, a growing family, or approaching retirement, it offers the flexibility to adapt to your changing needs. With the added advantage of cost-efficiency (like the return of premium allocation and mortality charges), it ensures you get maximum value for every rupee invested.
In a world of uncertainties, ICICI Pru Protect N Gain is more than just an insurance policy — it’s a strategic financial tool designed to help you protect your dreams and achieve lasting financial freedom.
Example Scenario:
Rahul, a 35-year-old non-smoker, wants a life insurance plan that provides financial security and wealth accumulation. He chooses the ICICI Pru Protect N Gain Life plan.
Annual Premium Paid: ₹1,09,742 for 10 years
Policy Term: 40 years (till age 75)
Coverage Benefits:
✅ Life Insurance Cover: ₹1 Crore
✅ Accidental Death Cover: ₹1 Crore
✅ Accidental Disability Cover: ₹1 Crore
Maturity Benefits:
If Rahul survives till 75, he receives a lump sum payout depending on returns:
@8%: ₹88.61 Lakhs
@10%: ₹1.57 Crores
@12%: ₹2.76 Crores
This plan ensures Rahul’s family is financially secure while helping him build wealth over time.
Conclusion:
In conclusion, this policy offers advantages to individuals of various age groups. It allows for entry at a minimum age of 18 years and provides the option to exit the policy between the ages of 48 and 90. This plan is ideal for those looking to diversify their investment portfolio while also securing life coverage.
To understand more on the topic as well as to start investments please feel free to contact us:
Phone: +91-9324609115
E-mail: team@richvikwealth.in
The article is authored by Ms. Ritika Sharma from Team RichVik.