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ICICI Prudential Retirement Plans

Everybody works with the intention of having a comfortable life, not just in their youth but also in their golden years. After working hard for the sake of themselves and their family, individuals would look forward to enjoying their retirement phase without worrying about the money. In order to do so they need to secure their finances. In times of economic uncertainty, it is all the more important for everyone to ensure that their financial future is secure. Procuring life insurance is one way through which this can be done. ICICI Prudential has plans especially for the purpose of retirement.

Why ICICI Prudential?

Prudential plc, which is one of the international leaders in finance and ICICI Bank Ltd which is the largest bank in India, in the private sector have come together to form an insurance company with the goal to provide a wide range of fantastic policies for clients. The company began its operations in the year 200 and since then, has emerged as the leader amongst all private life insurance companies in India . A premium of Rs. 153 billion was garnered by the company as of 2015 (the financial year). A number of policies are available for almost all needs and requirements, making this venture very versatile and sought after.

  1. ICICI Pru Easy Retirement

    Based on the risk requirement of the customer, they can increase their corpus for retirement and can also protect their investment through a guaranteed benefit. This policy also allows customers to enhance their corpus through pension ‘boosters’.

    Benefits

    1. Policyholders have the option of paying their premiums over a period of 5 years, 10 years or even throughout the tenure of the policy.
    2. Additional amounts can be invested in the policy through ‘top ups’.
    3. During retirement, the insured can choose between the annuity choices that are available based on their needs and requirements.
    4. Tax benefits are applicable on this policy.
    5. Customers will receive the fund value or benefit that is assured, whichever amount is higher, on maturity.
    6. In case of untimely demise of the insured, the nominee will receive either the fund value or assured death benefit, whichever amount is higher.
  2. ICICI Pru Immediate Annuity

    Through the Immediate Annuity option, customers not only receive an assured income but also receive other options that can be customized to suit their requirements.

    Benefits

    1. Customers can either choose life annuity or annuity for life with the return of the purchase price to the nominee upon death of the insured.
    2. Customers can pay for the same in one lump sum amount.

Example

Raj purchased a retirement plan at the age of 50 and his income was Rs. 5 lakhs per annum. He invested Rs. 5417 per month and on maturity after ten years, he received a corpus of Rs. 7,02,692 with assumed rate at 4 percent.

Tips

Almost everybody today procures insurance covers. With a plethora of options available for customers, they must ensure that proper research is conducted before opting for a particular policy. The reputation of the company, claim settlement ratio, location all play important factors. In addition to this, customers must also a choose a plan that is suited to their financial needs and not the just the benefits of a particular policy.

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

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Plan Benefits

Payment Options

Policy Coverage

Customer Service

Responsiveness

ICICI Prudential Retirement Plans Reviews

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  • 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? 0
    , 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
  • ICICI Prudential Life Insurance
    "Good overall"
    0.5 5.0/5 "Blown Away!"
    I also have a term insurance with ICICI Prudential. The tenure is for 30 years. There is no add on facility. The sum assured is for 50 lakhs and I pay a premium of 36000. The sum assured and the benefits are good in the policy. The payment option is good too.
    Was this review helpful? 0
    , mumbai
    Reviewed on Mar 09, 2019
  • ICICI Prudential Life Insurance
    "Excellent"
    0.5 5.0/5 "Blown Away!"
    I have taken a life insurance from ICICI Prudential. The customer services are good. It is a money back policy. The tenure is for ten years. The premium is of 18K. I have no hassles to make a payment as it is easy online. The plan benefits and coverage is good. I would be getting a bonus.
    Was this review helpful? 0
    , mumbai
    Reviewed on Mar 09, 2019
  • ICICI Prudential Life Insurance
    "Excellent Policy"
    0.5 5.0/5 "Blown Away!"
    I had taken this Term insurance policy a long time back and the premium had been paying on an annual basis. It also has an added benefit of accidental coverage. The premium amount is not too high and the payment method is also easy. The plan benefits and the policy coverage has been good as well.
    Was this review helpful? 0
    , jamnagar
    Reviewed on Mar 07, 2019
  • ICICI Prudential Life Insurance
    "GOOD"
    0.5 4.0/5 "Great!"
    ICICI PRUDENTIAL is the insurance provider where i am holding the term insurance policy and i have been using it since from last one year. The premium initially i have paid for monthly basis and latter paid on 6 months basis with this policy.
    Was this review helpful? 0
    , hyderabad
    Reviewed on Mar 06, 2019
  • ICICI Prudential Life Insurance
    "Average service"
    0.5 3.0/5 "Satisfactory"
    I have taken my life insurance policy with ICICI bank,Their service is quite average, Their premium they have charged me was nominal, i pay premium on yearly basis, and there agent had not properly explain about the plan benefits and policy ,still i have confusion in it.but now i have closed this insurance ,as there was no return.
    Was this review helpful? 0
    , lucknow
    Reviewed on Mar 03, 2019
  • ICICI Prudential Life Insurance
    "Excellent service"
    0.5 5.0/5 "Blown Away!"
    I have been holding my life insurance with ICICI prudential , there service is up to the mark ,premium per year they have charge me is nominal,i do my payment by both on line as well as off line mode and till now i did not had faced any issues till now .
    Was this review helpful? 0
    , mohali
    Reviewed on Mar 02, 2019
  • ICICI Prudential Life Insurance
    "Trusted Policy"
    0.5 5.0/5 "Blown Away!"
    I have a term insurance and it has a coverage of Rs.1 crore. The premium is of Rs. 15,000. I need to pay the premium for 20 years. There is a life coverage up to 75 years. I can add multiple nominees, the claim settlement is very high more than 90%, I can opt for lump sum amount or part payment.
    Was this review helpful? 0
    , chennai
    Reviewed on Mar 01, 2019
  • ICICI Prudential Life Insurance
    "Experience is not satisfactory"
    0.5 1.0/5 "Really Bad"
    ICICI PRUDENTIAL they have given an insurance without my knowledge, i am not satisfied with tis insurance also the premium is very higher with this insurance policy. The maturity period is for 3 years and they provide the coverage for self. There is a accidental benefits but can be claimed in certain terms and conditions.
    Was this review helpful? 1
    , tirunelveli
    Reviewed on Mar 01, 2019
  • ICICI Prudential Life Insurance
    "GOOD"
    0.5 4.0/5 "Great!"
    I am having a term plan with the ICICI PRUDENTIAL since from last one year. the maturity period of this policy is for 40-45 years and i am paying the premium for monthly once with this insurance policy. It is a good policy to use and it gives the coverage for self.
    Was this review helpful? 0
    , anantapur
    Reviewed on Feb 27, 2019
  • ICICI Prudential Life Insurance
    "GOOD"
    0.5 4.0/5 "Great!"
    ICICI PRUDENTIAL is the insurance provider where i have taken the ACCIDENTAL POLICY with this insurance provider. The premium i have been paying for yearly once through online. It is a good policy to use with good customer service with this policy.
    Was this review helpful? 1
    , mumbai
    Reviewed on Feb 23, 2019
  • ICICI Prudential Life Insurance
    "Good Insurer"
    0.5 5.0/5 "Blown Away!"
    I have term insurance with ICICI Prudential still its going on, I taken this policy in the year of 2005, my premium was around Rs. 5000 per annum for the sum assured of Rs. 50 lakhs, my nominees will get the lum sum amount on any certain demise. ICICI Prudential claim settlement ratio is good comparatively in the market.
    Was this review helpful? 0
    , kolkata
    Reviewed on Feb 23, 2019
  • ICICI Prudential Life Insurance
    "Its Transparent "
    0.5 5.0/5 "Blown Away!"
    I had ICICI Purdential life policy long back, overall service was good. I paid the premium of Rs.25,000 for the tenure period of 10 years. At last I got the sum assured Rs. 2.5 lakhs they also gave me life coverage . As per my experience ICICI bank service, insurance service is good always.
    Was this review helpful? 0
    , kolkata
    Reviewed on Feb 23, 2019
  • ICICI Prudential Life Insurance
    "Good policy"
    0.5 5.0/5 "Blown Away!"
    I have taken a term plan in ICICI Prudential before 2 years. It is good and have chosen mainly because of the offers. They have explained me about the policy well. I have got the insurance paper on time. The premium will be debited automatically from my account and the sum assured value is 1Cr.
    Was this review helpful? 0
    , coimbatore
    Reviewed on Feb 21, 2019
  • ICICI Prudential Life Insurance
    "Useful policy"
    0.5 5.0/5 "Blown Away!"
    I have purchased my pension policy from ICICI Prudential. I have taken the policy 12 years back. Because of the policy benefits is good that time i have chosen the policy from ICICI Prudential. I am making the premium annually. This is a tax benefits policy. I'm not satisfied with the sum assured amount.
    Was this review helpful? 0
    , bangalore
    Reviewed on Feb 16, 2019
  • ICICI Prudential Life Insurance
    "Bad experience"
    0.5 1.0/5 "Really Bad"
    I have been holding life insurance with ICICI prudential .Their service is not up to the mark, like they said they will give benefit up to 37% to 40% but i did not felt that, like i checked it was less they use to say based on market value it use to me high or low. I use to pay premium on yearly basis. and it use to get auto debited from my account.
    Was this review helpful? 0
    , new delhi
    Reviewed on Feb 12, 2019
  • ICICI Prudential Life Insurance
    "Better"
    0.5 4.0/5 "Great!"
    I took a term plan in ICICI Prudential and it was purchased recently 3 months back. I have chosen the policy after comparing with other insurer. The customer service was very good. I have received the insurance paper. I am paying every month Rs.2,600 through online.
    Was this review helpful? 0
    , hyderabad
    Reviewed on Feb 12, 2019
  • ICICI Prudential Life Insurance
    "Better"
    0.5 4.0/5 "Great!"
    I have taken a life insurance for myself with ICICI prudential. It was purchased in the year of 2011 and through offline. The customer service was average. I am paying yearly premium of 20K through online. The payment mode is easy and convenient. The tenure period is 15 years. They have not explained me the policy benefits.
    Was this review helpful? 0
    , bangalore
    Reviewed on Feb 12, 2019
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