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ICICI Pru Group Gratuity Plan

 4.0 / 5.0   by 807 users
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Plan Benefits

Payment Options

Policy Coverage

Customer Service

Responsiveness

As per the Payment of Gratuity Act, 1972, Gratuity is a statutory benefit which will be provided to an employee. When an employee exits a company, while fulfilling the criteria prescribed in the Gratuity Act, this lump sum amount will be paid out to the employee. A gratuity liability will be created for you the employer, by these statutory payments to employees. The highlight of the plan is that you, the employer, will find that sufficient funds are available to meet your company's obligation for these gratuity payments. Your statutory liability as an employer can be met with ease when you contribute to the ICICI Prudential's Group Gratuity Plan.


Eligibility of ICICI Pru Group Gratuity:

Minimum size of the group 10 or more members
Minimum/ maximum entry age 15/ 85 years
Minimum policy term 1 year

Features of ICICI Pru Group Gratuity:

Following are some of the attractive features of ICICI Pru Group Gratuity:

Plan options Unit linked
Minimum policy term 1 year
Bundled life cover ICICI Prudential group gratuity plan provides a flat cover of Rs. 1000 to the employees
Scheme administration Monthly addition and deletion of members
Premium paying term Yearly/ Half yearly/ Quarterly/ Monthly

Benefits of ICICI Pru Group Gratuity:

Following are some of the main benefits ICICI Pru Group Gratuity:

Scheme setup assistance - ICICI Prudential life values their customers above all else which is why they have made the ICICI Pru Group Gratuity a flexible plan which allows customizing of solutions to meet the specific needs of customers and also and adheres to the Gratuity Act.

Dedicated service team - ICICI Prudential understands that when you purchase a policy from them it is the beginning of a relationship. That is why the company has a dedicated group service team which appoints a relationship manager to the policyholder. This individual would be dedicated to answer all of your queries and service all your requirements.

Managing investments – There is a wide range of investment options that will accommodate all of the customer’s needs.

Claim Settlement - ICICI Prudential values your time above all else which is why they settle claims and payouts within specified turnaround time.

Tax Benefit – Both the employer and employee will be benefitting with the ICICI Pru Group Gratuity plan . The employer will benefit as the plan is an annual contribution which is allowed as expenditure/deduction in computing taxable income of up to 8.33% of employees’ salary.  The employee will benefit as the gratuity received is exempt from Income tax subject to conditions of section 10(10) and up to the limit specified.

Bundled life cover - a flat cover of Rs. 1000 will be provided by ICICI Prudential group gratuity plan to the employees.

How the ICICI Pru Group Gratuity Works

ICICI Pru Group Gratuity makes sure that each employee in the plan receives an assured sum upon their exit from the company. To activate the policy, the employer must put aside monies to meet the gratuity liability which will go into the ICICI Prudential group gratuity plans. This amount will subsequently earn returns and also aid in growing the funds in line with the gratuity liability. Finally, when the employee exits the company, the fund created under the plan will be used to make claim payments.

GST of 18% is applicable on life insurance effective from the 1st of July, 2017

ICICI Pru Group Gratuity Plan Reviews

Page 1 of 41 1 2 3 4 5
  • ICICI Prudential Life Insurance
    "More than satisfactory"
    0.5 5.0/5 "Blown Away!"
    I have taken a life insurance from ICICI Prudential. It is a cash back policy and the policy coverage and the plan benefits are fine and satisfactory. The payment options are also fine as I can pay my premium with ease online. The customer support is supportive.
    Was this review helpful? 0
    , new delhi
    Reviewed on Dec 11, 2018
  • ICICI Prudential Life Insurance
    "Good policy for life"
    0.5 5.0/5 "Blown Away!"
    Through mobile I came to know about the ICICI prudential life insurance, for the coverage of Rs. 1 lakh, I paid the premium of Rs.20 it has accidental cover and critical illness cover but there is no medical cover. The Policy documentation process is easy.
    Was this review helpful? 0
    , visakhapatnam
    Reviewed on Dec 10, 2018
  • ICICI Prudential Life Insurance
    "Good Policy"
    0.5 4.0/5 "Great!"
    I have taken a term plan with ICICI preudential from last 2 years, i pay a premium of Rs 525 every month for this insurance policy and i am convenient with the payment options. Customer service was good and they explained every detail of this policy.
    Was this review helpful? 1
    , ahmedabad
    Reviewed on Dec 10, 2018
  • ICICI Prudential Life Insurance
    "Excellent"
    0.5 5.0/5 "Blown Away!"
    I have taken a term insurance with ICICI Prudential and I need to pay a premium till the age of 60 and it has a coverage till the age of 65 to 66. The policy coverage is for 50 lakhs and if anything external happens to the policy holder another 50 lakhs is provided to the family. The premium is economical, it is of 897 which goes through on a ECS basis.
    Was this review helpful? 0
    , new delhi
    Reviewed on Dec 05, 2018
  • ICICI Prudential Life Insurance
    "GOOD SERVICE"
    0.5 5.0/5 "Blown Away!"
    My experience with the life insurance policy from the ICICI PRUDENTIAL and it is a annual term plan policy. The maturity period of this policy is for 10 years where i am paying my premium of r yearly once for this policy. The process of getting the policy is good.
    Was this review helpful? 1
    , jaipur
    Reviewed on Nov 27, 2018
  • ICICI Prudential Life Insurance
    "Good service"
    0.5 4.0/5 "Great!"
    I have been holding my life insurance with ICICI prudential , i have been taken two policy through icici , the premium they have charged me was nominal, and premium amount for one policy they are charging up to yearly basis, and for another policy on half yearly basis, overall service is good.
    Was this review helpful? 0
    , pune
    Reviewed on Nov 25, 2018
  • ICICI Prudential Life Insurance
    "GOOD SERVICE"
    0.5 5.0/5 "Blown Away!"
    I have applied for the life insurance which is TERM PLAN with the ICICI PRUDENTIAL. The process of getting and also applying the life insurance is simple process with this ICICI. The service is very good also i am satisfactory with this loan.
    Was this review helpful? 1
    , new delhi
    Reviewed on Nov 24, 2018
  • ICICI Prudential Life Insurance
    "Excellent service"
    0.5 5.0/5 "Blown Away!"
    I have a Term insurance policy from the ICICI Prudential . The premium gets auto debited from the account. I Don't have to worry about the due date because ECS makes life so much easier. Their services also needs improvements. They need to raise their standards and provide quality support all the customers.
    Was this review helpful? 0
    , hyderabad
    Reviewed on Nov 21, 2018
  • ICICI Prudential Life Insurance
    "Bad service"
    0.5 2.0/5 "Expected more"
    I have been holding my health insurance with ICICI BANK , there service is not up to the mark, they dont keep there words they said that my policy coverage was up to 10,00,000 but i check it it was just for 3,00,000 only and even what is benefit in this health insurance they have not explained me and i do not have idea how much hospital they have tie up.
    Was this review helpful? 0
    , faridabad
    Reviewed on Nov 16, 2018
  • ICICI Prudential Life Insurance
    "Good for Investment"
    0.5 5.0/5 "Blown Away!"
    I generally pay Rs.30,000 per annual year for the life insurance. The plan which I taken with ICICI Prudential is called money back. Every yearly I get the bonus amount from the coverage value. After completion of tenure period I get the entire benefits.
    Was this review helpful? 1
    , bhubaneshwar
    Reviewed on Nov 02, 2018
  • ICICI Prudential Life Insurance
    "Good For investment Purpose"
    0.5 5.0/5 "Blown Away!"
    I invested on Well builder plan its ULIP cum life insurance with ICICI prudential. Really the plan is amazing, as of now I just keep paying the premium then I get the return after five years based on the market price. Now the growth is fine, the bank invested 65% of amount in equity and remaining on govt security, total term of the policy for 10 years then I get the policy cover around Rs. 20 lakhs.
    Was this review helpful? 1
    , delhi
    Reviewed on Nov 01, 2018
  • ICICI Prudential Life Insurance
    "Good For investment Purpose"
    0.5 5.0/5 "Blown Away!"
    I just making premium I don't know how its going to work out in term plan, if I go out of the world my parents will get the life cover of Rs. 40 lakhs. But I get some bonus amount every five years, its insurance cums ULIP plan. I used to make the payment through standing instruction.
    Was this review helpful? 0
    , delhi
    Reviewed on Nov 01, 2018
  • ICICI Prudential Life Insurance
    "Good Policy"
    0.5 4.0/5 "Great!"
    I am having a life insurance policy with ICICI prudential from last 3 years, i pay an annual premium of Rs 1 lac for this insurance policy. The name of the policy is Guaranteed Wealth Process Plan. I am not sure about the returns but the maturity period is after 10 years.
    Was this review helpful? 0
    , bangalore
    Reviewed on Nov 01, 2018
  • ICICI Prudential Life Insurance
    "Best Policy"
    0.5 5.0/5 "Blown Away!"
    I have take life insurance from Icici Prudential life insurance which has good returns , This coverage also covers accidental and critical illness coverage . I make the payment yearly through online This policy coverage is for life time had to renew yearly . I used to get income tax benefits. Their customer service explained well about the policy.
    Was this review helpful? 0
    , greater noida
    Reviewed on Nov 01, 2018
  • ICICI Prudential Life Insurance
    "Excellent card"
    0.5 5.0/5 "Blown Away!"
    I have been holding my life insurance with ICICI prudential insurance, i have been applied this insurance recently, they cover good and i pay my premium from debit card and premium per year they charge me is 1500 rupees, there service is good and they use to update me if any new policy is add.
    Was this review helpful? 3
    , bangalore
    Reviewed on Oct 16, 2018
  • ICICI Prudential Life Insurance
    "Average service"
    0.5 3.5/5 "Pretty good"
    I have been holding Term insurance with ICICI prudential insurance , i have been applied this insurance recently, i don't have much idea as about the benefits which they provide me and i pay premium per years 650 for 50 lakh policy and it automatically get debited from my account.
    Was this review helpful? 0
    , hyderabad
    Reviewed on Oct 15, 2018
  • ICICI Prudential Life Insurance
    "GOOD"
    0.5 4.0/5 "Great!"
    I am holding the education policy which gives the coverage for my daughter. The maturity period of this policy till my daughter attain 20 years. I have been using from last 6-7 years. The premium i am paying for this policy is for yearly once through online.
    Was this review helpful? 1
    , new delhi
    Reviewed on Oct 08, 2018
  • ICICI Prudential Life Insurance
    "Good policy"
    0.5 4.0/5 "Great!"
    The name of the policy that i am holding from the ICICI PRUDENTIAL is pension plan where it gives the coverage for me and my spouse. The maturity is for this policy is for 30 years. The premium that i pay for yearly once. Documentation part was done online.
    Was this review helpful? 2
    , new delhi
    Reviewed on Oct 08, 2018
  • ICICI Prudential Life Insurance
    "Good policy"
    0.5 4.0/5 "Great!"
    Based on good policy benefits i have chosen Money back policy from ICICI PRUDENTIAL INSURANCE . They have explained the policy benefits and features . This policy has good benefits with goos coverage of 5 years . The premium amount is also too economy .
    Was this review helpful? 1
    , bangalore
    Reviewed on Oct 07, 2018
  • ICICI Prudential Life Insurance
    "Best Policy"
    0.5 5.0/5 "Blown Away!"
    I have take life insurance from ICICI PRUDENTIAL . Am satisfied with the premium amount which am making the payment This policy covers accidental and critical illness coverage . Their customer representative explained the policy very well before taking the policy . Overall its Best policy .
    Was this review helpful? 0
    , hyderabad
    Reviewed on Oct 06, 2018
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