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IRDAI/I NTAII/BA/51/2018
CIN: U72900KA2018PTC110119

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Usually you get a grace period of up to 30 days to pay your premiums once it is overdue. However, if you still dont pay premium after the grace period, your policy will lapse and you cant claim any benefits from your policy.

Though both the insurance plans offer financial security, there is a basic difference between ICICI Prudentials pension plan and term plans. A pension plan offers financial security after retirement. In case of your early death, ICICI Prudential pays death benefits to your nominee. However, term insurance plans pay amount only after the death of the policyholder. In case the insured survives the term, no maturity amount is paid.

The age at which you decide to start receiving your pension is known as vesting age.

Usually you get a grace period of up to 30 days to pay your premiums once it is overdue. However, if you still dont pay premium after the grace period, your policy will lapse and you cant claim any benefits from your policy.

Though both the insurance plans offer financial security, there is a basic difference between ICICI Prudentials pension plan and term plans. A pension plan offers financial security after retirement. In case of your early death, ICICI Prudential pays death benefits to your nominee. However, term insurance plans pay amount only after the death of the policyholder. In case the insured survives the term, no maturity amount is paid.

The age at which you decide to start receiving your pension is known as vesting age.

It is the time during which you regularly pay premium to ICICI Prudential to get income post retirement in the form of pension.

There are various options available to pay your premium. You can pay premium monthly, quarterly, half yearly or yearly. You can also pay premiums in one lump sum. However, most of the people opt for monthly premium mode as it is relatively small and easy to monitor.

Yes you should buy ICICI Prudentials pension plan even though you have a provident fund account (PF). The ever growing inflation will make your PF amount insufficient in the future. It will not be enough for your future expenses. This becomes more important because as you grow old, you become more susceptible to different health problems and it increases your medical bills also. A lone provident fund will not support your lifestyle needs.

An annuity is the regular income, pension or allowance that ICICI Prudential pays after the retirement.

As per prevailing tax laws, ICICI Prudential offers tax benefits up to a maximum of Rs 10,000 on taxable income under Section 80CCC and Section 10(10A) of the Income Tax Act, 1961. Up to 1/3rd of the maturity amount is tax-free, while the remaining amount is paid out as an annuity and is taxable.

It is the time during which you regularly pay premium to ICICI Prudential to get income post retirement in the form of pension.

There are various options available to pay your premium. You can pay premium monthly, quarterly, half yearly or yearly. You can also pay premiums in one lump sum. However, most of the people opt for monthly premium mode as it is relatively small and easy to monitor.

Yes you should buy ICICI Prudentials pension plan even though you have a provident fund account (PF). The ever growing inflation will make your PF amount insufficient in the future. It will not be enough for your future expenses. This becomes more important because as you grow old, you become more susceptible to different health problems and it increases your medical bills also. A lone provident fund will not support your lifestyle needs.

An annuity is the regular income, pension or allowance that ICICI Prudential pays after the retirement.

As per prevailing tax laws, ICICI Prudential offers tax benefits up to a maximum of Rs 10,000 on taxable income under Section 80CCC and Section 10(10A) of the Income Tax Act, 1961. Up to 1/3rd of the maturity amount is tax-free, while the remaining amount is paid out as an annuity and is taxable.