Benefits
About Insurer
ICICI Prudential Life Insurance Company Limited is a joint venture between ICICI Bank Limited and Prudential
Corporation Holdings Limited, a part of the Prudential group. ICICI Prudential began its operations in Fiscal
2001 after receiving approval from Insurance Regulatory Development Authority of India (IRDAI) in
November 2000.
ICICI Prudential Life Insurance has maintained its focus on offering a wide range of savings and protection
products that meet the different life stage requirements of customers.
Eligibility
Investment Eligibility: Minimum investment Rs. 1,000 per month for Age <= 35. Minimum investment Rs. 10,000 per month for Age > 35.
Entry Age Eligibility: Minimum : 18 years & Maximum : 40 years
Fund Performance
AUM : NA
Fund | 3 years Returns | 5 years Returns |
Opportunities Fund | 18.30% | 24.05% |
Money Market Fund | 6.34% | 5.2% |
India Growth Fund | 16.67% | 22.73% |
Value Enhancer Fund | 20.58% | 22.84% |
Secure Opportunities Fund | 6.66% | 5.31% |
Maximise India Fund | 16.91% | 21.94% |
Multi Cap Balanced Fund | 13.32% | 14.86% |
Income Fund | 7.73% | 5.61% |
Active Asset Allocation Balanced Fund | 11.99% | 13.88% |
Multi Cap Growth Fund | 17.16% | 22.14% |
Bluechip Fund | 14.59% | 21.18% |
Maximiser Fund V | 16.44% | 22.66% |
Midcap Fund | NA | NA |
Midcap Hybrid Growth Fund | NA | NA |
Midcap Index Fund | NA | NA |
Multicap 50 25 25 Index Fund | NA | NA |
Focus 50 Fund | 13.44% | 19.73% |
Mid Cap 150 Momentum 50 Index Fund | NA | NA |
Balanced Advantage Fund | 15.22% | NA |
Sustainable Equity Fund | 13.62% | NA |
MidSmall Cap 400 Index Fund | NA | NA |
Smallcap250 Momentum Quality 100 Index Fund | NA | NA |
Constant Maturity Fund | NA | NA |
India Consumption Fund | NA | NA |
MidSmallCap 400 Momentum Quality 100 Index Fund | NA | NA |
Charges
Type | Percentage or Amount |
0.75 % p.a. for Money Market Fund 1.35% p.a. for all other funds Please check the brochure for more details | |
| Changes from time to time, please check the policy brochure or contact us. | |
Nil | |
Nil | |
Nil | |
Partial Withdrawal charge | Nil |
Premium redirection charge | Nil |
Nil after 5 years lock-in For more details, Please check the brochure | |
Miscellaneous Charges | Nil |
Tax Savings
If you invest Rs. 50,000 per year for 5 years in the Blue Chip fund which is expected to grow at 21.18% (last 5 years CAGR) for 10 years. Returns would be Rs. 10,90,791 (adjusted for FMC & Mortality charges)
Under Section 80C (Old tax regime) : Investment amount is tax free
Your investment amount Rs.50,000 per year for 5 years will be tax exempt. So Tax savings : Rs. 15,000 per year (assuming 30% bracket). Total tax saving for 5 years would be Rs.75,000
Under Section 10D : Realised profits are tax free
Profits from your returns are tax free i.e. Rs. 10,90,791 - Rs. 2,50,000 = Rs. 8,40,791 would be tax free. If you had invested the same amount in ELSS or MF you would have to pay 12.5% LTCG tax on profits. i.e. Rs. 1,06,423 (assuming same charges)
So total tax savings under both above sections would be Rs. 75,000 + Rs. 1,05,099 = Rs. 1,80,099.