ICICI Pru GIFT Pro Plan

ICICI Pru GIFT Pro is a life insurance plan that merges life protection with growth opportunities, aiming to support your financial ambitions securely. It offers guaranteed payouts in unforeseen circumstances, ensuring your family's financial stability. With structured savings aligned to your goals, this plan empowers you to achieve milestones confidently.

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  • Guaranteed Tax Savings

    Guaranteed Tax Savings^

    Under sec 80C & 10(10D)
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    ₹1 Crore

    Invest ₹10k Per Month*
  • Zero LTCG Tax

    Zero LTCG Tax^

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What is the ICICI Pru GIFT Pro Plan?

ICICI Pru GIFT Pro is a life insurance plan designed to help you achieve your financial goals with confidence. It combines the security of life insurance with the potential for growth, making it a well-rounded savings plan. ICICI Pru GIFT Pro can be a valuable tool for those seeking a combination of protection, savings, and guaranteed benefits.

Features of ICICI Pru GIFT Pro Plan

Here are the key features of the ICICI Pru GIFT Pro Plan:

  • Guaranteed Income Options: Choose between Level Income for a consistent income stream throughout your chosen income period or Increasing Income to receive income that grows every year, helping you stay ahead of inflation.

  • Low Cover Income Booster: Opt for the Low Cover Income Booster to get a bigger payout while accepting a lower life cover benefit.

  • Customize Your Money Back Benefit: Decide how much of your total premiums you want to receive back as a lump sum amount (0% to 100%) and choose the year during the income period (or after maturity) that best suits your goals.

  • Plan Your Income Stream:  Select your preferred Policy Payment Term (PPT), Premium Payment Term (PT), and Income Period from a range of options to best fit your financial situation and goals.

  • Life Cover for Peace of Mind:  The plan provides a life insurance benefit to protect your family financially in case of an unfortunate event.

  • Potential Tax Benefits:  Premiums paid and benefits received may be eligible for tax deductions under prevailing tax laws (subject to change).

  • Loan Assistance:  During times of need, you can avail of a loan against your policy to meet your financial emergencies.

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Eligibility Criteria for the ICICI Pru GIFT Pro Plan

Premium Payment Term (In Years) Policy Term (In Years) Income Period (In Years) Min/Max Age At Entry (In Years) Min/Max Age At Maturity (In Years)
5 8 to 10 5/7/10/12/15/20/25/30 18 minus Policy Term / 60 18/70
6 8 to 11 18/71
7 8 to 12 18/72
8 9 to 13 18/73
9 9 to 14 18/74
10 10 to 15 18/75
11 11 to 16 18/75
12 12 to 17 18/75

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Benefits of the ICICI Pru GIFT Pro Plan

Below are the benefits of the ICICI Pru GIFT Pro Plan: 

  • Save the Date: Choose a special date, like a birthday or anniversary, to receive your guaranteed income annually. This adds a personal touch to your financial planning.

  • Lump Sum Benefit: Access your future guaranteed income and money-back benefit at any time during the income period or at policy maturity. This flexibility allows you to address unexpected needs or take advantage of opportunities.

  • Death Benefit: Provides financial security for your loved ones in case of your unfortunate passing. The benefit amount is the highest of the three options, ensuring your beneficiary receives a significant payout. 

The benefit amount is calculated as the highest of:

  • Sum Assured on Death: This is a multiple of your annual premium.

  • 105% of Total Paid Premiums: This guarantees a minimum payout even if other options fall short.

  • Death Benefit Factor x Maturity Sum Assured x (Months of Paid Premiums / Total Premium Payment Term): This option considers the policy term and paid premiums for a potentially higher payout.

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Exclusions Under the ICICI Pru GIFT Pro Plan

If suicide occurs within 12 months from the policy's start or revival, the beneficiary will receive at least 80% of the total premiums paid up to the death date or the surrender value, whichever is higher, provided the policy is active. This payment terminates the policy, and all associated rights, benefits, and interests cease.

Policy Details of ICICI Pru GIFT Pro Plan

  • Revival: Revive your lapsed policy within 5 years from the first unpaid premium by paying dues and interest.

  • Policy Loan: Get a loan up to 80% of the surrender value after your policy acquires one.

  • Termination: Policy terminates on events like non-payment of premium, end of income period, or death of the life assured.

  • Free Look Period: Cancel your policy within 15 days (or 30 days for electronic policies/distance marketing) if unhappy with the terms.

    Invest in high growth ULIP Plans Invest in high growth ULIP Plans
  • Grace Period: Pay your premium within 15 days (monthly) or 30 days (other frequencies) of the due date to avoid lapse.

  • Flexibility: Change the frequency of premium payment on the policy anniversary and guaranteed income frequency anytime before two months of policy term completion.

  • Advance Premium: Pay premium in advance within the same financial year or a maximum of three months before the due date in the next financial year.

  • Minor Life Assured: On attaining majority (18 years), the minor becomes the policyholder and can nominate a beneficiary.

  • Policyholder and Life Assured Different: On the policyholder's death, the life assured (if alive) can continue the policy.

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FAQs

  • Can I choose a Special Date to receive Guaranteed Income under ICICI Pru GIFT Pro?

    Yes, if you opt for annual income, you can select a Special Date such as your date of maturity, birth date, or anniversary date before two months of the policy term completion. Guaranteed Income will start from this date annually.
  • What is the Life Insurance Cover offered by ICICI Pru GIFT Pro?

    It is the benefit paid upon the death of the Life Assured during the policy term, providing financial protection to your loved ones.
  • Am I eligible to take a policy loan with ICICI Pru GIFT Pro?

    Yes, once your policy acquires a surrender value, you can avail a loan up to 80% of the surrender value.

*All savings are provided by the insurer as per the IRDAI approved insurance plan. Standard T&C Apply
*Please note that the quotes shown will be from our partners
*Tax benefit is subject to changes in tax laws
^The tax benefits under Section 80C allow a deduction of up to ₹1.5 lakhs from the taxable income per year and 10(10D) tax benefits are for investments made up to ₹2.5 Lakhs/ year for policies bought after 1 Feb 2021. Tax benefits and savings are subject to changes in tax laws.
~Source - Google Review Rating available on:- http://bit.ly/3J20bXZ

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ICICI Pru GIFT Pro Plan Reviews & Ratings

4.1 / 5 (Based on 27 Reviews)
(Showing Newest 10 reviews)
Dinesh
Abu_road, March 19, 2019
Quick claim
ICICI Prudential Ulip Plan saved my time and money. I thought it would make me do feverish exercise at the time of claim but it was not that. it provided me quick access to claim funds with quick documentation process.
Karan
Guwahati, October 10, 2016
Ulip Insurance Policy
My ulip insurance policy plan is very nice. It provides me the best service and benefits. I took it from icici prudential insurance company. Policy coverage is ~89% and claims are easy to get by getting help of the executives and staff members of the company.
Manan
Bhowali, August 24, 2016
Good
Ulip insurance plan i bought in low investment from icici prudential life insurance. Service provided by you guys is ultimate. The online renewal facility is the best way to reduce the paperwork which you provides. Policy coverage and claims are high with low premiums.
Tanisha
Firozabad, July 20, 2016
ICICI Insurance Plan
After long search i got ulip plan of icici prudential life insurance. The policy is nice and great returns in less investment. Policy coverage is ~90% and the claims are high which is easy to sanctioned. I purchase this policy for my whole family, really effective and protective plan.
Vibhuti
Jagadhri, July 11, 2016
ULIP Policy
My ulip plan is very good which has many benefits like low premiums and good returns. Policy coverage is good and claims are easy to sanctioned because of quick service provided by the staff members. Service is good and online service is easy to access by anybody.
Geetanjali
Bawal, June 29, 2016
Nice Policy
I purchase ulip insurance plan in low premiums. The policy coverage is good and claims are better. Internet service is good and easy to operate by anyone. It gives hassle free documentations and reduces paperwork.
Lokesh
Agartala, April 15, 2016
Wonderful Policy
The policy coverage is 95%, The claims are high and the claiming is easy because of the executives and the staff members service they provide. The benefits provided by you guys icici prudential ulip policy plans is fantastic. The premiums are less ~34 K and the returns are high ~Rs.40 L.
Vijay
Nilgiris, April 15, 2016
Great Benefits
From icici prudential life insurance i have taken a ulip policy plan for the tenure of 39 years in which we get lumps um amount after the maturity of the policy plan. Policy coverage is 89% of investment. Accident and natural death is inbuilt secure in this policy. Service is fast and on time which is facilitate from staff members.
Aman
Gwalior, April 15, 2016
Awesome
My ulip policy plan is from icici prudential life insurance and the policy is the awesome because the policy has many benefits like the accident insurance is inbuilt in this policy. Policy coverage is high approx. 93% and the premiums are low. Claims are 1.75 times of the investment. The service is fast and very quick. Good policy plan.
Varun
Udyapur, April 15, 2016
slow service issue
One of the most convenient insurance policies provider is icici prudential life insurance ulip policy plan so my investments will be safe. As far as I seen this company is coming generation to generation. Everybody is been benefited with its benefits. Customer service need to be improved as that is bit slow and never on time.
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