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ICICI Pru Group Superannuation Plan

Superannuation, also known as Pension Benefit, is a very important benefit for every employee. Superannuation is basically the retirement benefit which is provided to employees to aid them in saving a part of their income during their employment which can be used help ensure a financially secure life after retirement. Employees can grow their saving, which have been accumulated over the years, with the help of the ICICI Prudential Superannuation Plans. With this plan, they can accumulate their savings which can be later utilized for purchasing annuity at the time of retirement and ensuring financial security to take care of various needs. The Superannuation plans offered by ICICI Prudential life have been specially designed to meet requirements of the Accumulation Phase, so that employees may maximize their savings in correspondence to their risk capabilities.


Eligibility of ICICI Prudential Group Superannuation Plan

Minimum age at Entry Applicant must be at least 20 years
Maximum Age at Entry Applicant must not be more than 85 years
Minimum Vesting Age 45 years
Maximum Vesting Age 80 years

Key Features of ICICI Prudential Group Superannuation Plan

Plan type Unit linked / Endowment Pension Benefit Plan
Plan Basis Group
Premium Payment Frequency Premium payment can be made on a monthly, quarterly, half-yearly or yearly basis.
Policy Term Minimum policy term is fixed at 1 year.
Annuity Option 5 Annuity Options available

Benefits / Advantages of ICICI Prudential Group Superannuation Plan

  • Assistance for Scheme setup - ICICI Prudential will provide all necessary assistance to help provide solutions which are tailored to address your specific requirements.
  • Managing Investments – You can choose from a two different investment options, which are:
  • Unit linked funds – These are market linked investments which not only provide healthy returns but also allow you to decide asset allocation which is best suited to your needs.
  • Endowment fund – This offers stable growth to your investments
  • Dedicated Service – Fully understanding the importance of your needs, ICICI Prudential provides a highly competent and dedicated service team which will assist you with fulfilling your requirements.
  • Quick Claim Settlement – Settlement of claims is a very important service which must be done in a timely fashion. ICICI Prudential ensures that all claims are settled and payouts given well within the given time period.
  • Annuity Payment – In addition to providing a Group Immediate Annuity plan, ICICI Prudential group plans also provides discounts to Superannuation customers, along with five annuity options which employees can pick from.

How It Works

Employers can institute two superannuation schemes - Defined Benefit or Defined Contribution. If the employer has chosen to setup a Defined Benefit superannuation scheme, the benefits which will be payable to the employee at the time of retirement are clearly defined and funds accumulated as part of this plan are utilized towards claim payments when employees leave the organization.

Under the Defined Contribution (DC) superannuation scheme, a pre-decided amount or percentage will be deducted from the employee’s salary and invested in the employee’s superannuation fund. The funds accumulated under this plan will be utilized for purchase of an Annuity plan which can later on be a source of regular cash inflow for the employee.

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

 4.0 / 5.0   by 865 users
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Plan Benefits

Payment Options

Policy Coverage

Customer Service

Responsiveness

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ICICI Pru Group Superannuation Plan Reviews

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  • ICICI Prudential Life Insurance
    "Excellent service"
    0.5 5.0/5 "Blown Away!"
    I have been holding my Term insurance with ICICI PRUDENTIAL. Their service is excellent and responsiveness was good. They have clearly explained me about their policy coverage and plan benefits, i use to pay premium on monthly basis through on line.
    Was this review helpful? 0
    , dehradun
    Reviewed on Apr 17, 2019
  • ICICI Prudential Life Insurance
    "EXCELLENT"
    0.5 5.0/5 "Blown Away!"
    I am holding the life insurance policy with the ICICI PRUDENTIAL ans using it since from last many years and now stopped paying the premium. There are no issues with this insurance as i am using. It gives the coverage for self added on that the documentation process was simple.
    Was this review helpful? 0
    , mumbai
    Reviewed on Apr 15, 2019
  • ICICI Prudential Life Insurance
    "Service is not upto the mark "
    0.5 1.0/5 "Really Bad"
    I taken this ICICI life insurance mainly for protection of loan of 5 lakhs . Though I said I have one more plan in my name . They compelled me to take this policy by paying an amount of Rs 7000 /- . It is only applicable for the accidental death benefit .
    Was this review helpful? 0
    , new delhi
    Reviewed on Apr 14, 2019
  • ICICI Prudential Life Insurance
    "Average service"
    0.5 3.5/5 "Pretty good"
    I have taken life insurance policy with the ICICI PRUDENTIAL,The documentations process was done by my relative. They have suggested me best policy , They have charged me premium on monthly basis and the premium use to get auto debited from my account.
    Was this review helpful? 0
    , mumbai
    Reviewed on Apr 11, 2019
  • ICICI Prudential Life Insurance
    "Excellent service"
    0.5 5.0/5 "Blown Away!"
    As i am privilege customer of ICICI bank so they have offered me to apply life insurance with ICICI prudential. The agent had clearly explained me about the term and conditions and also plan benefits and policy coverage. It was clearly mentioned on the hard copy. The premium use to get deduced from my account.
    Was this review helpful? 0
    , chennai
    Reviewed on Apr 11, 2019
  • ICICI Prudential Life Insurance
    "Returns are not very good"
    0.5 4.0/5 "Great!"
    ICICI providing a maturity plan along with some returns .I need to pay an amount of Rs 15000 for next seven years .After the completion of tenure , I will get some returns . ICICI service is very prompt and good online facilities is available . But ICICI are not providing very extra ordinary returns .
    Was this review helpful? 0
    , kochi
    Reviewed on Apr 10, 2019
  • ICICI Prudential Life Insurance
    "GOOD"
    0.5 4.0/5 "Great!"
    I have taken life insurance policy with the ICICI PRUDENTIAL and using it from last 3 months. The documentation process was done on time without hassle. The maturity period is for long term and the premium was paid yearly once for this policy.
    Was this review helpful? 1
    , chennai
    Reviewed on Apr 09, 2019
  • ICICI Prudential Life Insurance
    "Customer service is not upto the standard"
    0.5 1.0/5 "Really Bad"
    ICICI executive compelled me to take this life insurance policy for protection of my personal loan . I need to additional amount of 8-9 thousands rupees for next two year . Even though I had some other insurance policy, they forced me to take this policy .
    Was this review helpful? 0
    , new delhi
    Reviewed on Apr 09, 2019
  • ICICI Prudential Life Insurance
    "Flexible Term plan"
    0.5 5.0/5 "Blown Away!"
    ICICI PRUDENTIAL has good brand name, they give good benefits on my term plan. Through netbanking I can access everything, before three years the premium was lower now they increased based on my age yearly Rs. 9000, starting it was Rs. 11,000, based on IT proof the premium increased. For normal death they give Rs. 50 lakhs of cover and for the accidental they give Rs. 1 crore. I have added one nominee and they do have flexible emi option.
    Was this review helpful? 0
    , chennai
    Reviewed on Apr 08, 2019
  • ICICI Prudential Life Insurance
    "GOOD"
    0.5 4.0/5 "Great!"
    I am using the lie insurance policy with the ICICI PRUDENTIAL since from last 10 years and the policy coverage gives for the entire family. The premium paying for the 6 months once with this insurance policy. The documentation process was good and simple.
    Was this review helpful? 0
    , gurgaon
    Reviewed on Apr 06, 2019
  • ICICI Prudential Life Insurance
    "GOOD"
    0.5 4.0/5 "Great!"
    I have purchased the life insurance policy with the ICICI PRUDENTIAL and using it since from last 9 years. It gives the family coverage of self and also the premium paying for yearly once. The maturity is for yearly once with this policy. The customer support is good.
    Was this review helpful? 0
    , dindigul
    Reviewed on Apr 06, 2019
  • ICICI Prudential Life Insurance
    "GOOD POLICY"
    0.5 3.5/5 "Pretty good"
    I have been using it since from last two years with the ICICI PRUDENTIAL life insurance where the maturity period of this policy is for long term and the premium for this policy paying for yearly once. It gives the life coverage with this policy.
    Was this review helpful? 0
    , mumbai
    Reviewed on Apr 02, 2019
  • ICICI Prudential Life Insurance
    "GOOD"
    0.5 4.0/5 "Great!"
    I have been using the life insurance policy with the ICICI PRUDENTIAL since from last three years this gives the policy coverage for family where the maturity period of this policy is for 10 years. The premium i pay of 15K for yearly once with this policy.
    Was this review helpful? 0
    , mumbai
    Reviewed on Apr 01, 2019
  • ICICI Prudential Life Insurance
    "GOOD"
    0.5 4.0/5 "Great!"
    I have been using the life insurance policy with the ICICI PRUDENTIAL since from last three years this gives the policy coverage for family where the maturity period of this policy is for 10 years. The premium i pay of 15K for yearly once with this policy.
    Was this review helpful? 0
    , mumbai
    Reviewed on Apr 01, 2019
  • ICICI Prudential Life Insurance
    "Good for family protection"
    0.5 4.0/5 "Great!"
    My prudential pro smart is specially for the working people who have some disease it has the good cover for the caner, if we run to that situation they give 50% of coverage from the total value. It has coverage of Rs. 1 crore I have mentioned lump sum, they give critical illness waiver. The premium I is good around Rs.1500 per month, I need to pay upto 60 years old.
    Was this review helpful? 0
    , hyderabad
    Reviewed on Apr 01, 2019
  • ICICI Prudential Life Insurance
    "Its Good"
    0.5 4.0/5 "Great!"
    My ULIP plan with ICICI Prudential it has the locking period around three years, the premium was around Rs. 2 lakhs per annum it has the tenure period of five years then I got the sum assured and as per the market investment I get the benefits. In fact they give tax saving under 80c.
    Was this review helpful? 0
    , kolkata
    Reviewed on Mar 30, 2019
  • ICICI Prudential Life Insurance
    "Life Insurance Executives are Proactive "
    0.5 5.0/5 "Blown Away!"
    I taken a term plan in ICICI prudential for Sum assured of 1 crore till 85 years of term period . It is the normal plan with inbuilt features . Comparing with other plan it is the best plan with ICICI . Customer executives are proactive in helping for the customers .
    Was this review helpful? 0
    , mumbai
    Reviewed on Mar 24, 2019
  • ICICI Prudential Life Insurance
    "Good Investment"
    0.5 4.0/5 "Great!"
    I invested in ULIP at ICICI Prudential for the amount of Rs. 2 lakhs it has the locking period for five years, I used to pay the premium around Rs. 50,000 on yearly basis it has the term of five years , then I get sum assured and other benefits around Rs. 15 lakhs.
    Was this review helpful? 1
    , chennai
    Reviewed on Mar 18, 2019
  • ICICI Prudential Life Insurance
    "Good service"
    0.5 4.0/5 "Great!"
    I have been holding my term insurance with ICICI prudential insurance, i have been applied this insurance from past one and half years, the coverage is good and I pay my premium through on line,and premium i used to pay on a yearly basis. Their service is good and they use to update me if any new policy is added.
    Was this review helpful? 0
    , ghaziabad
    Reviewed on Mar 18, 2019
  • ICICI Prudential Life Insurance
    "Communication should be clear"
    0.5 3.5/5 "Pretty good"
    I called ICICI prudential to cancel my term policy, they only give the life cover upto 60 years, it would be great if they increase the life span and also they should give some benefits even the insurer person lives after policy matured. Monthly I pay Rs. 490 it has 60 years. They misguided me, I thought it would be more beneficial.
    Was this review helpful? 2
    , bangalore
    Reviewed on Mar 16, 2019
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