ICICI Pru Ace : A Super ULIP

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ICICI Pru life’s new product ICICI Pru Ace comes with a 4 very good features.


1) No allocation charge for regular premium

2) Trigger portfolio strategy where the profit in excess of 15% is moved to secure fund.

3) Additional allocation of 2% of premium amount as a fund from 6th policy year.

4) Loyalty addition of 2.5% of average of policy fund value from the 10th year on last day of eight policy quarter.


Min. Premium: Rs. 18,000.

Policy term: 10 to 30 years.

Sum Assured is 5 times the annual premium.


Charges:

  • No Allocation(1% for top-up, nill for regular) charge will allow 100% of money getting invested.
  • Policy admin. Charge is Rs. 60 pm
  • Fund mgt. Charge is between 0.75 to 1.35% of fund value PA
  • No surrender charge after 5th policy year.

Trigger Portfolio strategy:

  • There would be two fund Multi Cap Growth fund (Equity) and Income fund (Debt).
  • A balance of 75%-25% will be maintained.
  • As per the NAV at inception of policy if NAV of MCG moves 15% up it is considered as trigger and appropriate unit is shifted to Income fund.
  • In case there is no gain redistribution will be made between the two keeping 75%-25% balances.

The Strategy would allow taking maximum benefit of gains and save the gain.


Apart from Trigger portfolio strategy one can choose traditional fixed strategy by selecting appropriate fund.

You can also change the portfolio strategy once every year.


Maturity and Death Benefit:

Fund value will be paid at maturity and on death nominee would receive sum assured or fund value whichever is higher.


Conclusion:

Because of no allocation charge, additional allocation and loyalty addition this SUPER ULIP is nice option

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