ICICI PRU

Anmol Bachat

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We all aspire to have a better life & want to improve upon our past. We want better education for our children so that they can live a better & comfortable life. Hence wealth creation is an important financial goal for all of us. We can achieve it through regular savings. We at ICICI Pru believe that "Small piles of coins grow into spendable sums with time and restraint."


ICICI Pru Anmol Bachat is a product which helps you save small sums to create a lump sum amount for your future needs. It is a unique savings plan which gives you triple benefits- Savings, Liquidity & Life cover.


Key features and benefits of ICICI Pru Anmol Bachat - Single Premium

  • Policy Term: A policy term of 5 or 10 years can be chosen. Premium is payable only once at the start of the policy.
    • Minimum Single Premium Rs.2,500
    Maximum Single Premium Rs.15,000
    Minimum Entry Age (Years) 18
    Maximum Entry Age (Years) 50
  • Guaranteed Maturity Benefit: This is a guaranteed amount payable at the end of the policy term. Your Guaranteed Maturity Benefit is shown on your benefit illustration.
  • Sum Assured on death: This is a guaranteed amount payable on death during the policy term. Your Sum Assured on death is equal to the higher of the following two amounts:
    • Guaranteed Maturity Benefit
    • 2 times Single Premium
    Key features and benefits of ICICI Pru Anmol Bachat - Five Pay

    • Policy Term: Policy term is 5 years. Premiums are payable throughout the policy term.
      • Minimum Annual Premium Rs.1,200
      Maximum Annual Premium Rs.6,000
      Minimum Entry Age (Years) 18
      Maximum Entry Age (Years) 52
    • Guaranteed Maturity Benefit: This is a guaranteed amount payable at the end of the policy term. Your Guaranteed Maturity Benefit is shown on your benefit illustration.
    • Sum Assured on death: This is a guaranteed amount payable on death during the policy term. Your Sum Assured on death is equal to the higher of the following two amounts:
      • Guaranteed Maturity Benefit
      • 5 times Single Premium
      Key features and benefits of ICICI Pru Anmol Bachat - Ten Pay / Fifteen Pay

      • Policy Term: A policy term of 10 or 15 years can be chosen. Premiums are payable throughout the policy term.
        • Minimum Annual Premium Rs.1,200
        Maximum Annual Premium (if age at entry < 45 years) Rs.3,000
        Maximum Annual Premium (if age at entry >= 45 years) Rs.4,285
        Minimum Entry Age (Years) 18
        Maximum Entry Age (Years) 55
      • Guaranteed Maturity Benefit: This is a guaranteed amount payable at the end of the policy term. Your Guaranteed Maturity Benefit is shown on your benefit illustration.
      • Sum Assured on death: This is a guaranteed amount payable on death during the policy term.
        If the age at entry of the life assured is less than 45 years, then your Sum Assured on death is equal to the higher of the following two amounts:
        • Guaranteed Maturity Benefit
        • 10 times Single Premium
          • If the age at entry of the life assured is 45 years or higher, then your Sum Assured on death is equal to the higher of the following two amounts:
        • Guaranteed Maturity Benefit
        • 7 times Single Premium
        • Survival Benefit: Survival Benefit equal to one annual premium will be paid during the policy term if all due premiums have been paid and the life assured is alive.
          • 10 year policy term Survival Benefit will be paid at the end of policy years 5 and 8
          15 year policy term Survival Benefit will be paid at the end of policy years 6, 9 and 12
          SPECIMEN POLICY DOCUMENTS

          ICICI Pru Anmol Bachat

Key Benefits of ICICI Pru Anmol Bachat

  • Guaranteed Maturity Benefit: is a guaranteed amount payable at the end of the policy term. Your Guaranteed Maturity Benefit is shown on your benefit illustration.
  • Sum Assured on death: This is a guaranteed amount payable on death during the policy term. The Sum assured depends on the chosen Premium payment term(PPT).
  • Survival Benefit: Survival Benefit equal to one annual premium will be paid during the policy term if all due premiums have been paid and the life assured is alive. The Survival benefit depends on the Premium Payment Term
  • Tax benefit: Save tax on premiums paid subject to conditions under section 80C of Income Tax Act, 1961. Tax benefits are subject to conditions specified under section 80C, 10(10D) and other provisions of the Income Tax Act, 1961 and are subject to amendments from time to time.

    • Benefits in detail

      Death Benefit: On death of the life assured during the policy term, for a premium paying or fully paid policy, irrespective of the survival benefits paid, Death Benefit will be payable.

      Death Benefit is equal to the higher of the following:
    • Sum Assured on death plus Bonuses*
    • Guaranteed Maturity Benefit plus Bonuses
    • 105% of sum of premiums paid till date of death (excluding extra mortality premiums, service tax and cesses, if any)
      • *Bonuses consist of vested reversionary bonuses, interim bonus and terminal bonus, if any.
      All policy benefits cease on payment of the death benefit.

      Maturity Benefit:
      On survival of the life assured till the end of the policy term for a fully paid policy, irrespective of the survival benefits paid, Maturity Benefit will be payable:

      Maturity Benefit is equal to the higher of the following two amounts:
    • Guaranteed Maturity Benefit (GMB) plus vested reversionary bonuses, if any plus terminal bonus, if any
    • 100.1% of total premiums paid (excluding any extra mortality premium, service tax and cesses) less total Survival Benefits received

      • All policy benefits cease on payment of the maturity benefit.

      Premium payment mode: Unless your policy is a Single Premium policy, you have a choice to pay your premiums yearly, half yearly or monthly. Premium discounts apply if you pay premiums yearly or half-yearly as follows:
    • Monthly: Nil
    • Half yearly: 2.5%
    • Yearly: 4.5%

      • Loans: You can avail of loans under this policy after the policy acquires a surrender value. Loans of up to 80% of the surrender value can be availed.

      Surrender value:
    • Single Premium policies: Your policy has a surrender value from the start of the policy.
    • Five Pay policies: Your policy acquires a surrender value on payment of 2 full years' premium.
    • Ten Pay/Fifteen Pay policies: Your policy acquires a surrender value on payment of 3 full years' premium.

      • On surrender, once your policy has acquired a surrender value, you will get the Guaranteed Surrender Value plus surrender value of vested bonuses or Special Surrender Value, whichever is higher.

      Paid up benefits: Once your policy acquires a surrender value and if you stop paying due premiums, your policy can continue as a paid up policy with reduced benefits.

      Grace period: You have a grace period for payment of premium of 15 days for monthly premium payment mode and 30 days for other modes.

      Revival: A policy which has discontinued payment of premiums may be revived subject to underwriting and the following conditions:
    • The application for revival is made within 2 years from the due date of the first unpaid premium and before the termination date of the policy. Revival will be based on the prevailing Board approved underwriting policy.
    • The policyholder furnishes, at his own expense, satisfactory evidence of health of the life assured as required by the Company.
    • The arrears of premiums together with interest at such rate as the Company may charge for late payment of premiums are paid.

      • 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 the policyholder.

      On revival of the policy, the paid-up benefits will be restored to the benefits under the plan as if the policy had been premium paying.

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