ICICI Prudential Life Insurance is a leading insurance provider in India, offering a range of life insurance policies to meet the diverse needs of individuals and families. One of their popular policies is the ICICI Pru GIFT Long Term Plan, which is designed to provide long-term savings and financial protection. In this article, we will take a closer look at the ICICI Pru GIFT Long Term Plan and its features.
What is ICICI Pru GIFT Long Term Plan?
ICICI Pru GIFT Long Term Plan is a non-linked, participating life insurance policy that provides a combination of life coverage and savings. This policy is designed to help individuals plan their long-term financial goals, such as retirement or children's education, while providing financial protection to their loved ones in case of their untimely demise.
Features of ICICI Pru GIFT Long Term Plan
Guaranteed Income: The policy offers a guaranteed income for a period of 15 or 20 years, depending on the policy term. This income can help policyholders meet their financial obligations during their retirement years.
Flexible Premium Payment: The policy allows policyholders to choose their premium payment frequency, such as annual, semi-annual, quarterly, or monthly payments, based on their financial goals.
Guaranteed income: Under this plan, individuals need to pay premiums for a limited period of time and, in return, receive a guaranteed income for a longer duration. The guaranteed income can be received either annually or monthly, depending on the individual's preference.
Death Benefit: In case of the policyholder's untimely demise, the policy provides a death benefit to the nominee
Maturity Benefit: On maturity of the policy, policyholders are eligible to receive the fund value as a lump sum amount.
Tax Benefits: Policyholders can avail tax benefits under Section 80C and Section 10(10D) of the Income Tax Act, 1961.
How to Apply for ICICI Pru GIFT Long Term Plan?
The application process for ICICI Pru GIFT Long Term Plan is easy and convenient. Individuals can either visit the website or approach an authorized agent to apply for the policy. They can choose the sum assured, premium payment frequency, and policy term as per their requirements.
In conclusion, ICICI Pru GIFT Long Term Plan is a popular life insurance policy in India that provides a combination of life coverage and savings to help individuals plan their long-term financial goals while providing financial protection to their loved ones. Consider this policy if you're looking for a reliable life insurance plan that offers a guaranteed income, flexible premium payment, and additional bonuses to enhance your coverage.
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