Get Quotes from Top Insurers with Lowest Premium
Enter Details > Get Quotes > Buy Your privacy is protected.
Why Comparepolicy.com
Unbiased information on plans from varied insurance companies
Easy comparisons to choose the best insurance plan
No hidden costs, pay the same premiumas offered by the insurer
Pre and post sales expert assistance for smooth online buying experience
Reliable, Accurate and Quick policy servicing
THANK YOU!
Our representative will get back to you soon.
You can also directly contact us at
+91-7836966356

ICICI Pru Cash Advantage Plan

What is the Plan all About?

ICICI Pru Cash Advantage is a non-linked, participating money back insurance plan that provides you a guaranteed amount every month through the entire payout period of 10 years. This plan also provides guaranteed lump sum at maturity along with life cover for the entire policy term.

BUY NOW

What are the Key Features?

  • Get Guaranteed Maturity Benefit (GMB)
  • Guaranteed Cash Benefit as 1% of GMB every month during 10 year payout period
  • Financial protection for family
  • Flexibility to choose 5/7/10 years premium pay period
  • Avail loan benefit under the plan
  • Avail tax benefits

What are the Plan Benefits?

Death Benefit

    In the event of death of the life assured during the term of the policy (fully paid/premium paying policy), the Death Benefit payable is higher of Minimum Death Benefit, Sum Assured plus Bonuses, or Guaranteed Maturity Benefit plus Bonuses.

    The minimum death benefit is 105% of the total premiums paid, till the date of death. All policy benefits terminate upon payment of the death benefit.

Maturity Benefit

    On survival of the life assured till maturity of the policy (fully paid policy), the Maturity Benefit payable is higher of Guaranteed Maturity Benefit plus vested Reversionary Bonuses plus Terminal Bonus or 100.1% of the total premiums paid.

Guaranteed Cash Benefit

    On survival of the life assured till completion of the premium paying term, Guaranteed Cash Benefit as 1% & 11.5% of Guaranteed Maturity Benefit for monthly & Annually cash benefit mode, respectively.

Bonus

    Reversionary Bonuses are declared in every financial year. When declared, it becomes guaranteed benefit and it is payable on maturity or death, whichever is earlier. Contingent Reversionary Bonus is declared in every financial year and it is accrued when a policy is paid-up or fully paid policy is surrendered. Terminal Bonus is also payable on maturity or death.

Loan Benefit

    The maximum loan amount that can be availed under this policy is up to 80% of the acquired Surrender Value.

Surrender Value

    This policy acquires a Surrender Value after paying at least two full policy years’ premium, under 5 pay/7 pay option and the Surrender Value can be acquired on payment of all the due premium for three full policy years, under 10 pay option. The Surrender Value payable is higher of Guaranteed Surrender Value or Non-Guaranteed Surrender Value.

Tax Benefit

    You can avail tax benefits as applicable under the Income Tax Act, 9161. The tax laws are subject to change.

Who can Buy the Plan?

Factor Minimum Maximum
Age (as on last birthday) 3 Years (5 Pay), 1 Year (7 Pay), 0 Year (10 Pay) 60 Years
Age at Maturity 18 Years 80 Years
Policy Tenure 15 Years (5 Pay), 17 Years (7 Pay), 20 Years (10 Pay) -
Premium Paying Term 5/7/10 Pay -
Premium Paying Mode Annually, Semi Annually & Monthly -
Cash Benefit Mode Annually & Monthly -
Payout Term 10 Years -
Annual Premium Rs 30,000 (5 Pay), Rs 18,000 (7 Pay), Rs 12,000 (10 Pay) No Limit
Guaranteed Maturity Benefit Rs 74,451 (5 Pay), Rs 65,364 (7 Pay), Rs 63,881 (10 Pay) -
Freelook Period 15 Days/30 Days (for Distance Marketing Channel) From The Receipt Of The Policy -
Grace Period 30 Days (15 Days For Monthly Mode) -
Plan Type Offline -

Is any Rider Available with this Plan?

No riders can be opted under this plan.

How the Plan Works?

Raman at 35 years, wants to buy ICICI Pru Cash Advantage to get regular money backs along with life protection. He opts the plan with the policy term of 20 years, premium payment term of 10 years, and annual premium of Rs 1,00,000.

Scenario A: Raman Survives the Policy Term

If Mr. Raman survives till the maturity of the policy term, he receives Guaranteed Maturity Benefit of Rs 5.31 Lacs plus bonuses of Rs 9.31 Lacs. He also receives Guaranteed Cash Benefit of Rs 5,307 per month. This maturity benefit helps meet various financial objectives.

Scenario B: Raman dies during the Term of the Policy

In the event of demise of Mr. Raman during the policy term, Rs 10,00,000 life cover is payable to the nominee.

Please Note: Vested reversionary bonuses and terminal bonus is computed @8% assumed rate of return. For assumed returns @4%, the bonus amount would be Rs 1.60 Lacs.

Benefit Illustration: