ICICI Pru Future Perfect - A Non-linked Participating Life Individual Savings Product

In our day to day lives, we strive towards achieving our goals: purchasing a flat, securing our children’s future needs, dream vacation in an exotic location and living peacefully after retirement. We bring you an ideal savings and protection-oriented plan, ICICI Pru Future Perfect, to help you fulfill these goals.

• Savings with the comfort of guarantees* –
• At maturity of the policy, you receive:
  
  • Guaranteed Maturity Benefit¹ (GMB) 
  • Accrued Guaranteed Additions² (GAs) 
  • Vested reversionary bonus³ if any 
  • Terminal bonus³, if any
• Flexibility - Choose premium payment term, premium payment frequency, Sum Assured on death and policy term as per your need.
• Protection - Get life cover⁴ for the entire policy term.
• Tax benefits- Tax* benefits apply to premiums paid and benefits received as per the prevailing tax laws

• Suicide clause: If the life assured whether sane or insane, commits suicide within 12 months from the date of Commencement of Risk under this policy, the policyholder or nominee as applicable, will be entitled to higher of 80% of total premiums including extra premiums, if any paid till the date of death or surrender value as available on date of death.If the life assured whether sane or insane, commits suicide within 12 months from the date of revival of the policy, the higher of (A or B) will be payable. Where,
  
• A = 80% of total premiums paid including extra premiums, if any till the date of death
• B = surrender value as available on the date of death.
• All rights, benefits and interests under the policy will stand extinguished
• Free look period: If you are not satisfied with the terms and conditions of the policy, please return the policy document to the Company with reasons for cancellation within
  
• 15 days from the date you received it, if your policy is not purchased through Distance marketing
• 30 days from the date you received it, if your policy is an electronic policy or if the policy is purchased through Distance marketing
• On cancellation of the policy during the free look period, we will return the premium subject to the deduction of:
  • Stamp duty under the policy,
  • Expenses borne by the Company on medical examination, if any
  • Proportionate risk premium for the period of cover.

The policy shall terminate on payment of this amount and all rights, benefits and interests under this policy will stand extinguished.

• Tax benefits: Tax benefits under the policy are subject to conditions under Sections 80C, 10(10D), 115BAC and other provisions of the Income Tax Act, 1961. Goods and Services Tax and Cesses, if any will be charged extra as per applicable rates. Tax laws are subject to amendments from time to time. Please consult your tax advisor for more details.
• Premium payment term and policy term chosen at inception of policy cannot be changed.
• After completion of the policy term, the policy will not participate in profits.
• A fully paid policy is a policy for which all premiums have been paid, as per the PPT selected, and no further premiums are due. A premium paying policy is policy for which all due premiums have been paid till date, but future premiums are payable for the rest of the PPT.
• Reversionary bonuses3 may be declared every financial year and will accrue to the policy if it is premium paying or fully paid. Reversionary bonuses3 will be applied through the compounding bonus method. All reversionary bonuses3 will be declared as a proportion of the sum of the GMB and the accrued reversionary bonuses3 if any. Reversionary bonus3 once declared is guaranteed and will be paid out at maturity or on earlier death. Contingent reversionary bonus3 may be declared every financial year and will explicitly accrue only when a policy is made paid-up or a fully paid policy is surrendered. Contingent reversionary bonus3 will be a part of the paid up benefit and will be paid on maturity, surrender or earlier death. A terminal bonus3 may also be payable at maturity or on earlier death.
• Nomination: in the Policy will be governed by Section 39 of the Insurance Act, 1938, as amended from time to time. For more details on this section, please refer to our website.
• Assignment: Assignment in the policy will be governed by Section 38 of the Insurance Act, 1938, as amended from time to time. For more details on this section, please refer to our website.
• Section 41: In accordance with Section 41 of the Insurance Act, 1938 as amended from time to time, no person shall allow or offer to allow, either directly or indirectly, as an inducement to any person to take or renew or continue an insurance in respect of any kind of risk relating to lives or property in India, any rebate of the whole or part of the commission payable or any rebate of the premium shown on the policy, nor shall any person taking out or renewing or continuing a policy accept any rebate, except such rebate as may be allowed in accordance with the published prospectuses or tables of the insurer. Any person making default in complying with the provisions of this section shall be punishable with fine which may extend to ten lakh rupees.
• Fraud and Misrepresentation: will be as per Section 45 of the Insurance Act, 1938 as amended from time to time.
• For further details, please refer to the policy document.