ICICI Prudential Easy Retirement Plan

ICICI Prudential Easy Retirement Plan is a Unit Linked Pension Plan which provides regular annuity payouts post vesting so that there is income provision after retirement

  • Peaceful Post-Retirement Life

  • Tax Free Regular Income

  • Wealth Generation to beat Inflation

In-built life cover
Invest ₹6,000/month & Get Tax Free Monthly Pension of ₹60,000
Get the best returns & make the most of your Golden years
We don’t spam
Please wait. We Are Processing..
Your personal information is secure with us
Plans available only for people of Indian origin By clicking on "View Plans" you agree to our Privacy Policy and Terms of use #For a 55 year on investment of 20Lacs
Get Updates on WhatsApp
We are rated~
58.9 Million
Registered Consumer
Insurance Partners
26.4 Million
Policies Sold

ICICI Easy Retirement Plan Features

  • It is a non-participating Unit Linked plan with Limited and Regular premium payment option
  • 101% of premiums paid is guaranteed on Vesting thereby reducing the impact of market risk
  • The Vesting Age can be extended if the policyholder is aged 55 years or less
  • 2 funds are available for investment
  • Easy Retirement Balanced Fund
  • Easy Retirement Secure Fund
    • Life annuity
    • Life annuity with Return of Purchase Price
    • Life annuity guaranteed for 5/10/15 years and for life thereafter
    • Joint life or Last Survivor without Return of Purchase Price
    • Joint life or Last Survivor with Return of Purchase Price

ICICI Easy Retirement Plan Benefits

  • On Vesting, the accumulated Value will be payable. The benefit can be used to:
  • Purchase an Immediate Annuity to receive regular incomes
  • Purchase a Single Premium Deferred Annuity Plan
  • Defer the Vesting Age (if aged less than 55 years)
  • Commute 1/3rd of the corpus and purchase an Immediate Annuity with the remaining 2/3rd part
    • The accumulated value will be the higher of Fund Value or Assured Benefit equal to 101% of all Premiums paid including Top-up Premium, if any.
    • On death, higher of the Fund Value or Guaranteed Death Benefit will be payable
    • The guaranteed Death Benefit is equal to 105% of all Premiums paid including Top-up Premium, if any
    • Income tax benefit on the premium paid as per Section 80CCC and on the commuted part as per Section 10(10A) of the Income Tax Act. Death Benefit is exempted under Section 10(10D) of the Income Tax Act

Product Specification:




Entry Age (Last Birthday)

35 years

70 years

Vesting Age (Last Birthday)

45 years

80 years

Policy term (in years)



Premium Paying Term (in years)

5, 10 or equal to policy term

Premium Paying Frequency

Yearly, half-yearly, monthly



No limit

People also read: pension plan

ICICI Easy Retirement Plan Details

Annual Premium in Rupees and benefit illustration for a term of 20 years and PPT 5 years


40 years



Assured Benefit


Accumulated savings @ 4%


Pension Booster Returns @ 4%


Expected Annual Annuity Payout @ 4%


Accumulated savings @ 8%


Pension Booster Returns @ 8%


Expected Annual Annuity Payout @ 8%


Policy Details

  • Grace Period: 15 days grace period is allowed in monthly mode and 30 days in other modes.
  • Policy Termination or Surrender Benefit: Policyholder is allowed to surrender the policy after 5 completed years. If surrendered before 5 years, the fund value net of discontinuation charge will be credited to the Discontinued Policy Fund where it will earn a minimum of 4% p.a. growth. After completion of 5 years, the fund value in the Discontinued Policy fund as on that date will be paid to the policyholder. If surrendered after 5 completed policy years, the entire Fund value on the date of surrender is paid without any charges. The Surrender Value should be used to receive annuity under the same options as on vesting.
  • Free Look Period: If you would not be pleased with the coverage, and terms and conditions of the policy, you have the option of canceling the policy within 15 days of receipt of the policy documents, provided there has been no claim.


  • If suicide is committed with 12 months of policy inception or revival, the Fund Value as on that date is payable


  • Top-ups can be done subject to a minimum of Rs.2000 to increase the Fund Value
  • Switching between funds is also allowed. 4 free switches are allowed every year
  • Premium Redirection facility can be utilized to direct future premiums to another fund

People also read: NPS Calculator

Additional Features or Riders

  • Pension Boosters are added after the completion of 10 policy years and every 5 years thereof @ 5% of the average daily total Fund Value over the last 12 months provided at least 5 years’ full premium has been paid
  • PPT can be increased or decreased as per terms and conditions

Documents Required

Policyholder has to fill up an ‘Application form/ proposal form’ with accurate medical history along with the address proof and other KYC documents. Medical examination may be required in some cases, based on the sum assured and the age of the person.

*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

Secure Your Retirement Today
Start Investing ₹6,000/month
Get Pension ₹60,000/month+
Including Life Cover
View Plan
Pension Plans
+Standard T&A Applied
Pension Plan 1
Insurers Offering Pension Plans

Tata AIA

Max Life

Bajaj Allianz

SBI Life


ICICI Prudential

Bharti AXA Life

Edelweiss Life

Kotak Life

Future Generali

PNB MetLife

Aditya Birla Sun Life


Ageas Federal

Bandhan Life

Canara HSBC


Pramerica Life

Reliance Life

Sahara Life

Shriram Life

Star Union

View more insurers
Disclaimer: Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by an insurer.
Pension Plan 2
Pension Plan 3
Lic Pension Plan 4

Pension plans articles

Recent Articles
Popular Articles
Divyang Pension Yojana

01 Jul 2024

The Divyang Pension Scheme (DPS) is a government initiative in
Read more
Aasara Pension

01 Jul 2024

Aasara Pension is a social welfare scheme by the Government of
Read more
Atal Pension Yojana Statement

25 Jun 2024

Atal Pension Yojana is a government-backed pension scheme aimed
Read more
Madhubabu Pension Scheme

24 Jun 2024

The Madhubabu Pension Scheme is a social welfare initiative by
Read more

20 Jun 2024

e-Pension refers to an electronic pension management system
Read more
SBI Annuity Deposit Scheme Calculator 2024
  • 08 Jun 2021
  • 21660
SBI Annuity Deposit Scheme Calculator 2024 is an online tool that helps you figure out your fixed annuity
Read more
Top 15 Pension Plans in India
  • 14 Feb 2023
  • 6504
The Pension Plan, also known as a Retirement Plan is the best investment instrument allowing individuals to build
Read more
Sevarth Mahakosh
  • 24 May 2023
  • 10122
Sevarth Mahakosh Portal is a one-stop solution for all state government employees' financial transactions and
Read more
Vridha Pension
  • 23 Feb 2023
  • 4684
Vridha Pension is a social welfare initiative implemented by the Uttar Pradesh government in India. It aims to
Read more
NPS Calculator for Government Employees
  • 09 Dec 2021
  • 15157
National Pension Scheme or National Pension System (NPS) is launched by the Government of India for all its
Read more

Download the Policybazaar app
to manage all your insurance needs.