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August 25, 2014

August 25, 2014. ICICI Pru Pinnacle Super gives you…. Flexibility. Flexibility. Flexibility. Choice of Premium payment term. Multiple Fund options. Innovative new fund offering. Flexibility. Flexibility. How does the plan work?. Choose Five Pay option and the premium amount.

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August 25, 2014

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  1. August 25, 2014

  2. ICICI Pru Pinnacle Super gives you… Flexibility Flexibility Flexibility Choice of Premium payment term Multiple Fund options Innovative new fund offering Flexibility Flexibility

  3. How does the plan work? Choose Five Pay option and the premium amount Choose Sum Assured as per your protection needs Invest your premiums in the proportion of your choice in the multiple funds available On maturity of your policy, receive the benefit amount to meet your financial goals In the unfortunate event of death of the Life Assured during the term of the policy, the nominee will receive the Death Benefit to meet any financial liabilities

  4. Selecting the funds • Choose your fund(s) depending on your investment objective • You can choose multiple funds to invest your premiums in • Highest NAV Fund B is available only at inception • Funds can be switched out of the Highest NAV Fund B but funds cannot be switched into it

  5. Loyalty Additions Additional allocation at maturity of 2% of the fund value recorded as on maturity date • Applicable only if all due premiums are paid • Prevailing NAV is used to calculate the Loyalty Addition and not the Guaranteed NAV

  6. Death benefit • In the event of death of the Life Assured, the nominee shall receive, subject to Minimum Death Benefit: • For One pay option • Sum Assured or Fund Value, whichever is higher • For Five pay option • Sum Assured PLUS Fund Value

  7. Minimum Death Benefit • Minimum Death Benefit is 105% of the total premiums (including top-up premiums) paid LESS: • The amount of partial withdrawals made during the two years immediately preceding the date of death of Life Assured where death occurs before or at age 60 last birthday • The amount of all partial withdrawals made after attaining age 58 last birthday where the death of Life Assured occurs after age 60 last birthday

  8. Maturity benefit • On Maturity of the policy, you get: • In case of RGF and Highest NAV Fund B – higher of applicable guaranteed value and fund value • In case of all other funds – the fund value Where, • Guaranteed Fund Value = Guaranteed NAV X Units at maturity • Fund Value = Prevailing NAV X Units at maturity The Guaranteed NAV will be as follows: • RGF - Rs. XX.XX or the prevailing NAV of the RGF as on that date, whichever is higher. • Highest NAV Fund B - 110% of the highest NAV recorded on a daily basis within the first seven years of the launch of the series

  9. Partial withdrawals • One partial withdrawal every year from the 6th policy year • Guaranteed NAV will not apply for partial withdrawals • Max partial withdrawal amount – 20% of the FV as on date of partial withdrawal • Min partial withdrawal amount – Rs.2,000 Liquidity through partial withdrawals

  10. Switch / Premium redirection Switch • Four free switches every policy year • Funds can be switched out of Highest NAV Fund B but switches into the fund will not be allowed. • Premium redirection • Specify the funds and the proportion in which you want to invest your renewal premiums • Premiums cannot be redirected to Highest NAV Fund B • Applicable only for the Five Pay option

  11. Top Ups • You have the option to increase your investment by investing additional money over and above your regular premiums, at your convenience • The Top up premiums cannot be invested in Highest NAV Fund B • Minimum top-up amount is Rs. 2,000 • Top-up premiums can only be paid during the first five years of the policy, subject to underwriting so long as all due premiums have been paid • In case you avail of a top up, you will have to increase your Sum Assured by either 125% or 500% of the top up premium amount

  12. Increase/Decrease in Sum Assured • Subject to underwriting, allowed on policy anniversaries before the life assured attains age 60 • Five Pay option: Increase subject to sustainability matrix • Increases would be allowed in multiples of Rs 1,000 • Cost of any medical reports and charges will be borne by the policyholder Increase in SA Decrease in SA • Allowed only on policy anniversaries subject to the minimum SA

  13. Surrender value • Surrenders are not allowed during the first five policy years • On surrender after completion of the fifth policy year, the policy shall terminate and Fund Value including Top up fund value, if any, will be paid to the policyholder

  14. ICICI Pru Pinnacle Super at a glance

  15. ICICI Pru Pinnacle Super at a glance

  16. Charges • Premium Allocation Charges: • One Pay option • Five Pay option • Top up allocation charge: 2% of top up premium • Mortality charges will be deducted on a monthly basis on the life cover

  17. Charges • Policy Administration Charge: • One pay option • Five Pay option • This charge will be deducted through redemption of Units and is subject to a max of Rs. 500 per month

  18. Fund management charges *There will be an additional charge for the investment guarantee, made by adjustment to the NAV, for the funds below: • Highest NAV Fund B: 0.50% p.a. • Return Guarantee Fund: 0.25% p.a.

  19. Thank you!!

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