ICICI Pru Life - Gold

Presenting ICICI Pru Gold, a protection and savings oriented participating life insurance plan that provides the protection of life cover along with a regular income for whole of life that can be used to meet your long-term recurring financial needs through participation in bonus.

*Protection through life cover with policy term up to 99 years of age Income up to 99 years of age, with option to start receiving income immediately or after a few years as per your needs. This income will be a combination of Guaranteed Income and income linked to bonus declaration
*Option to accumulate/withdraw income any time or adjust future premiums from the income thus accumulated
*Option to get Guaranteed($) boosters after every 5 years to boost your savings with Immediate Income with Booster plan variant
*Tax benefits may be applicable on premiums paid and benefits received as per prevailing tax laws
$ In all plan options, guarantee is in the form of
Guaranteed income
as regular income and
Sum assured on maturity
as a part of Maturity Benefit. Additionally, in
Immediate Income with booster
plan option, the
Guaranteed booster
also forms a part of guaranteed benefits. Guaranteed returns are payable subject to all due premiums being paid and survival of the life assured.

Plan Variants
Min/MaxAge at Entry(in years)
Immediate Income
0/50 - 0/55 - 0/60
Immediate Income with Booster
0/50 - 0/55 - 0/60
Deferred Income
0/50 - 0/55 - 0/60

Plan Variants
Min/Max
Policy Term
(in years)
Immediate Income}
Immediate Income with Booster}
85/99 minus age at entry
Deferred Income}

Plan Variants
Premium Payment Term (PPT) (in years)
Immediate Income
5/6/7 to 12
Immediate Income with Booster
6/7/8 to 12
Deferred Income
7/8/9 to 12

Immediate Income
Immediate Income with Booster
Rs.50,000 p.a.*/ Subject to Board Approved Under-
Deferred Income
writing Policy

Tax Benefits: Tax benefits may be available as per prevailing tax laws. Tax benefits under the policy are subject to conditions under provisions of the Income Tax Act, 1961. Goods and Services Tax and Cesses, if any, will be charged extra as per prevailing rates. Tax laws are subject to amendments made thereto from time to time. Please consult your tax advisor for more details.

Free look period: If you are not satisfied with the terms and conditions of the policy, please return the policy document to the Company with reasons for cancellation within
*15 days from the date you received it, if your policy is not purchased through Distance Mode*
*30 days from the date you received it, in case of electronic policies or if your policy is purchased through Distance Mode
On cancellation of the policy during the free look period, we will return the premium subject to the deduction of:
a. Stamp duty under the policy,
b. Expenses borne by the Company on medical examination, if any
c. Proportionate risk premium for the period of cover
The policy shall terminate on payment of this amount and all rights, benefits and interests under this policy will stand extinguished.
*Distance Mode means every activity of solicitation (including lead generation) and sale of insurance products through the following modes: (i) Voice mode, which includes telephone-calling (ii) Short Messaging service (SMS) (iii) Electronic mode
which includes e-mail, internet and interactive television (DTH) (iv) Physical mode which includes direct postal mail and newspaper & magazine inserts and (v) Solicitation through any means of communication other than in person.

Grace Period: If the policyholder is unable to pay an installment premium by the due date, a grace period of 15 days will be given for payment of due installment premium for monthly frequency, and 30 days will be given for payment of due installment premium for any other frequency commencing from the premium due date. The life cover continues during the grace period. In case of Death of Life Assured during the grace period, the Company will pay the applicable Death Benefit
If the premium is not paid within the grace period before the policy acquires a surrender value, the policy shall lapse, no benefits will be payable and the cover will cease

You can take a policy loan after your policy acquires a surrender value.
a. Loan amount up to 80% of the surrender value can be availed from the Company.
b. For other than in-force and fully paid policies, if the outstanding loan amount including interest exceeds the surrender value, the policy will be foreclosed after giving intimation and reasonable opportunity to the policyholder to continue the policy.
c. In the event of failure to repay by the required date, the policy will be foreclosed, the policy will terminate, and all rights, benefits and interests under the policy will stand extinguished
d. An in-force and fully paid policy will not be foreclosed.
e. Before any benefits are paid out, loan outstanding together with the interest thereon if any will be deducted and the balance amount will be payable.
f. Loans may be granted on proof of title to the Policy.
g. The policy shall be assigned to and be held by us as security for repayment of the loan and interest thereon.
h. Applicable interest rate will be equal to 1.5% in addition to prevailing yield on 10 year Government Securities. The yield on 10 year Government Securities will be sourced from
www.bloomberg.com. The loan interest rate for September 2022 is 8.62% p.a. compounded half-yearly.
i. The loan interest rate will be reviewed on the 15th day of every month by the company based on the 10-year GSec yield of one day prior to such review.
j. The basis for computing loan interest will be reviewed from time to time and may be revised subject to the prior approval of the IRDAI.

The policy will acquire a Surrender Value on payment of at least 2 full years' premiums.
If any premium remains unpaid after the expiry of the grace period and the policy has not acquired a surrender value, the policy's status shall be altered to lapsed status and the insurance cover will cease. No benefits are payable under a lapsed policy
If any premium remains unpaid after the expiry of the grace period and the policy has acquired a surrender value, the policy's status shall be altered to paid-up status. Once a policy is altered to paid-up status, benefits under the policy shall get reduced as described later in this Section.
On policy surrender, a Surrender Value equal to the higher of the following will be payable:
*Guaranteed Surrender Value (GSV)
*Special Surrender Value (SSV)
Plus, any Balance in the Savings Wallet
On payment of Surrender Value the policy will terminate and all rights, benefits and interests under the policy will stand extinguished.
Guaranteed$ Surrender Value
GSV will be calculated as follows:
GSV = GSV Factor X Total Premiums Paid, less Survival Benefits (if any) paid till date, subject to a minimum of zero.
For details on GSV factors for total premiums paid, please refer Clause 15 under Terms and Conditions below. The Guaranteed$ Surrender Value factors are applicable at the end of the year and shall be linearly interpolated to arrive at the factors applicable at the time of surrender any time during the year of surrender.
All the factors applicable to Guaranteed Surrender Value calculation are guaranteed throughout the policy term.
Special Surrender Value
SSV for policies surrendering after premium payment of two full policy years will be calculated as follows:
SSV = SSV Factor X Total Premiums Paid, less Survival Benefits (if any) paid till date, subject to a minimum of zero, plus Terminal Bonus (applicable for Premium Paying or Fully Paid policies) or Contingent Terminal Bonus (applicable for Reduced Paid-up policies), if declared.
The Special Surrender Value factors are applicable at the end of the year and shall be linearly interpolated to arrive at the factors applicable at the time of surrender any time during the year of surrender. Any change in SSV factors will be subject to prior approval from IRDAI.
$In all plan options, guarantee is in the form of
Guaranteed income
as regular income and
Sum assured on maturity
as a part of Maturity Benefit. Additionally, in
Immediate Income with booster
plan option, the
Guaranteed booster
also forms a part of guaranteed benefits. Guaranteed returns are payable subject to all due premiums being paid and survival of the life assured.

You can revive your policy benefits for their full value within five years from the due date of the first unpaid premium by paying all due premiums together with interest before the termination date of the policy subject to underwriting and the following conditions:
The revival of the policy may be on terms different from those applicable to the policy before premiums were discontinued; for example, extra mortality premiums or charges may be applicable. The revival will take effect only if it is specifically communicated by the Company to you. The Company reserves the right to refuse to revive the policy.
A policy which has discontinued payment of premium may be revived subject to underwriting and the following conditions:
* The application for revival is made within 5 years from the due date of the first unpaid premium or the policy term, whichever is earlier. Revival will be based on the prevailing Board approved underwriting policy.
*You furnish, at your own expense, satisfactory evidence of health of the Life Assured as required by the prevailing Board approved underwriting policy
*The arrears of premiums together with interest at such rate as the Company may charge for late payment of premiums are paid. Revival interest rate will be equal to 1.5% in addition to the prevailing yield on 10 year Government Securities. The yield on 10 year Government Securities will be sourced from www.bloomberg.com. The revival interest rate for September 2022 is 8.62% p.a. compounded half-yearly
*The revival interest rate will be reviewed on the 15th day of every month by the company based on the 10-year G-Sec yield of one day prior to such review.
The revival of the policy may be on terms different from those applicable to the policy before premiums were discontinued; for example, extra mortality premiums or charges may be applicable. The revival will take effect only if it is specifically communicated by the Company to you. The Company reserves the right to refuse to revive the policy
Any change in revival conditions will be subject to prior approval from IRDAI and will be disclosed to policyholders.

Suicide clause: In case of death due to suicide within 12 months from the date of commencement of risk under the policy or from the date of revival of the policy, as applicable, the Claimant shall be entitled to atleast 80% of the total premiums paid till the date of death or the surrender value available as on the date of death whichever is higher, provided the policy is in force. The Policy will terminate on making such a payment and all rights, benefits and interests under the Policy will stand extinguished.