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ICICI Pru Group Superannuation Plan

 4.0 / 5.0   by 807 users
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Plan Benefits

Payment Options

Policy Coverage

Customer Service

Responsiveness

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

ICICI Pru Group Superannuation 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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