ICICI Pru Life Stage Wealth II

Recommendations :No

Name of the policy :
ICICI Pru Life Stage Wealth II

A brief desciption :

ICICI Pru Life Stage Wealth II is a regular ULIP providing Sum Assured plus Fund Value at the unfortunate demise of the insured and Fund Value as maturity benefit. However the cover provided under this plan is highly inadequate and the price paid to acquire such cover is also enormous so it is better to go for an inexpensive term plan and invest the extra money elsewhere.

Started date :
30/3/2012

Type of policy :
Insurance cum Investment

Category :
ULIP

Insurance :
For Age less than 45 years: Min- Higher of 10 X Annual Premium or 0.5 X Policy Term X Annual Premium For Age more than 45 years: Min- Higher of 7 X Annual Premium or 0.25 X Policy Term X Annual Premium Max- 40 X Annual Premium

Returns expected :
8%-10% (The performance would be less than a performing equity diversified mutual fund)

Entry age :
7-65 Years

Surrender :
If the policy holder wants to surrender the policy before completing 5 years, then the insurance cover will cease and the fund value net of any discontinuance charge will be transferred to the Discontinued Policy Fund. The Discontinued Policy Fund will be credited with a minimum interest rate of 3.5% p.a. and the proceeds from this will be payable after the fifth policy anniversary. If the policyholder surrenders the policy after completion of 5 policy years, then the insurance cover will cease and your fund value shall be paid immediately and the policy would be terminated.

Minimum amount :
For Regular pay: 24,000, Limited Pay 5: 48,000, Limited Pay 7: 36,000 Limited Pay 10: 24,000

Mortality Charges :
Mortality Charge will be deducted at each monthly anniversary by cancellation of units. Sample mortality charges per annum per thousand of sum at risk for a healthy male life is shown below: For Age 10- Rs 0.77, For Age 20- Rs 1.33, For Age 30- Rs 1.46, F

Unique features :
It is popular ULIP providing a choice of 8 investment options and 3 portfolio strategies to suit your risk apetite.


Fund Management Charge :Opportunities Fund, Multi Cap Growth Fund, Blue Chip Fund, Multi Cap Balanced Fund, Income Fund, Dynamic P/E Fund- 1.35% Return Guarantee Fund- 1.25%, Money Market Fund- 0.75%
Surrender/ Premium Discontinuance Charge Year 1 :For Annual Premium upto 25,000- Lower of 20% * (Annual Premium or Fund Value) but not exceeding Rs 3000, For Annual Premium more than 25,000- Lower of 6% * (Annual premium or Fund Value) but not exceeding 6000
Surrender/ Premium Discontinuance Charge Year 2 :For Annual Premium upto 25,000- Lower of 15% * (Annual Premium or Fund Value) but not exceeding Rs 2000, For Annual Premium more than 25,000- Lower of 4% * (Annual premium or Fund Value) but not exceeding 5000
Surrender/ Premium Discontinuance Charge Year 3 :For Annual Premium upto 25,000- Lower of 10% * (Annual Premium or Fund Value) but not exceeding Rs 1500, For Annual Premium more than 25,000- Lower of 3% * (Annual premium or Fund Value) but not exceeding 4000
Surrender/ Premium Discontinuance Charge Year 4 :For Annual Premium upto 25,000- Lower of 5% * (Annual Premium or Fund Value) but not exceeding Rs 1000, For Annual Premium more than 25,000- Lower of 2% * (Annual premium or Fund Value) but not exceeding 2000
Surrender/ Premium Discontinuance Charge Year 5 and above :Nil

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Table of Contents

Table of Contents