ICICI Prudential – Wealth Builder II Plan

ICICI Prudential –

Wealth Builder II Plan

ICICI Pru Wealth Builder II Plan is a unit-linked insurance plan (ULIP). The plan offers multiple investment options and fund choices. The policyholder will receive the fund value on the maturity date. In case of your unfortunate death during the policy term your family will get the death benefit.

Listed below are the Key Features of ICICI Pru Wealth Builder II Plan

• Flexibility of premium payment – one, limited and regular pay
• Choice of portfolio strategy – diversify risk across portfolios
• Multiple Fund options – total 7 funds 
• Loyalty benefits / Wealth Booster – extra units for staying invested for long term

Benefits you get from ICICI Pru Wealth Builder II Plan

·         Death Benefit – In case of death of the Life Insured, the nominee would get the pay

·         Maturity Benefit – On maturity, the Fund Value (including top fund value) is paid to the policyholder according to the investment option chosen.

·         Loyalty Additions – Guaranteed loyalty additions units will be allocated every policy year, from 6th policy year onwards. It’s 0.25% of average daily fund value and top-up, if any. 

·         Wealth Boosters - Guaranteed extra units will be allocated at the end of 5th policy, starting from 10th policy year. It’s percentage of average daily fund value and         top-up, if any. Each addition will be - 1.50% for one pay 3.25% for regular pay

·         Income Tax Benefit – Life insurance premiums paid upto Rs. 1,50,000 are allowed as a deduction from the taxable income each year under section 80C.

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Additional Features and Benefits of ICICI Pru Wealth Builder II Plan

·         Riders – Income Benefit rider is available under this plan. Under this rider, 10% of the rider sum assured will be payable on each policy anniversary following death till the end of the policy term.

·         Multiple portfolio options  

·         Fixed portfolio strategy – below are the funds options available:

-Opportunities Fund

-Multi Cap Growth Fund

-Blue-chip Fund

-Maximiser V

-Multi Cap Balanced Fund

-Income Fund

-Money Market Fund

·         Lifecycle based Portfolio Strategy - Your financial needs are not static and keep changing with your life stage. It is, therefore, necessary that your policy adapts to your changing needs. This need is fulfilled by the Lifecycle based Portfolio Strategy.

·         Top-up – This is an additional saving over and above your fund value, the minimum top up is 2000. Your Sum Assured will increase when you avail this facility.

·         Switching - You can switch across the 7 fund options, the minimum switch is            Rs. 2000. This feature is available under fixed portfolio strategy.

·         Partial Withdrawal is allowed only after completion of 5 policy years. One Partial Withdrawal is allowed in each policy year upto a maximum of 20% of the existing Fund Value. The minimum amount for partial withdrawal is Rs 2,000.