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Sep 16, 2014
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ICICI Pru - Wealth Builder Plan - Maximiser V

Latest NAV: Rs. 18.21 (As on Sep 15, 2014 ) Compare

Fund Name: Maximiser V

Plan Group: Wealth Builder

Product Type: Individual

Plan Objective: Saving Plan

Investment Objective

ICICI Pru Wealth Builder is a unit linked insurance plan that offers multiple choices on how to invest your savings while protecting your family with an insurance cover.

Explore The Plan

Grace Period

* Grace Period : The grace period for payment of premium is 30 days.

Free Look Period

Freelook period :
If you are not satisfied with the terms and conditions of this policy, please return the policy document to the Company for cancellation within
* 15 days from the date you received it, if your policy is not sourced through Distance marketing*
* 30 days from the date you received it, if your policy is sourced through Distance Marketing*
On cancellation of the policy during the freelook period, we will return the premium adjusted for fluctuation in NAV, if any, subject to the deduction of:
a. Stamp duty paid under the policy,
b. Expenses borne by the Company on medical examination, if any.
The policy shall terminate on payment of this amount and all rights, benefits and interests under this policy will stand extinguished.
* Distance marketing includes 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.

Policy Loans

* No policy loans are allowed under this policy.

Policy Term

* Policy Term : 10/15/20/25/30 years

Features

* Age based portfolio management
At Policy inception, your investments will be distributed between two funds, Multi Cap Growth Fund and Income Fund, based on your age. As you move from one age band to another, we will re-distribute your funds based on your age.
* Quarterly rebalancing
On a quarterly basis, units shall be rebalanced as necessary to achieve the above proportions of the Fund Value in the Multi Cap Growth Fund and Income Fund. The re-balancing of units shall be done on the last day of each Policy quarter. The above proportions shall apply until the last ten quarters of the Policy are remaining.
* Safety as you approach maturity
As your Policy nears its maturity date, you need to ensure that short-term market volatility does not affect your accumulated savings. In order to achieve this, your investments in Multi Cap Growth Fund will be systematically transferred to Income Fund in ten instalments in the last ten quarters of your Policy.

Benefits

Maturity Benefit :
At maturity, the Fund Value including the Top up Fund Value, if any, shall be payable. Alternatively, you can opt for the Settlement Option available.

Death Benefit :
In the unfortunate event of death of the life assured during the term of the policy, the nominee shall receive Sum Assured plus Fund Value including Top up Fund Value, if any, subject to Minimum Death Benefit. The Minimum Death Benefit is 105% of the total premiums (including top-up premiums) paid. Minimum death benefit will not be reduced by partial withdrawals.

Loyalty Additions :
Starting from the end of the tenth policy year, provided all due premiums have been paid, a loyalty addition shall be allocated as units at the end of every policy year. Loyalty additions are guaranteed and shall not be taken back in any circumstances. This Loyalty Addition will be calculated as a percentage of the average of Fund Values on the last day of the eight policy quarters preceding the said allocation. The Loyalty Addition for various Premium Payment Options is shown below: * Premium Payment Option\End of Policy Year : Regular pay
* Year 10 : 2%
* year 11 onwards : 0.75%
* Premium Payment Option\End of Policy Year : 5 pay*, 10 pay* * Year 10 : 2%
*year 11 onwards : 0.5%
* The term 'Pay' denotes number of years for which the premium should be paid into the policy. For example, 'Regular Pay' requires premium payment for the entire policy term; '5 pay' requires payment of premium for a period of only 5 years.
Loyalty Additions would be made by allocation of extra units at the end of the year.
br> Partial Withdrawal Benefit :
Partial withdrawals will be allowed after completion of five policy years. You will be entitled to make one partial withdrawal every policy year, up to a maximum of 20% of the Fund Value. Partial withdrawals are free of cost. The minimum partial withdrawal amount is Rs 2,000 T&C 2.

Tax benefits :
Tax benefits under the policy will be as per the prevailing Income Tax laws. Service tax and education cesses will be charged extra as per applicable rates. Tax laws are subject to amendments from time to time.

Advantages

* Multiple portfolio strategies: Choose a personalized portfolio strategy from.
a. Fixed Portfolio Strategy: Option to allocate your savings in the funds of your choice.
b. LifeCycle based Portfolio Strategy: A unique and personalized strategy to create an ideal balance between equity and debt, based on your age.
c. Trigger Portfolio Strategy: A unique portfolio strategy to protect gains made in equity markets from any future equity market volatility while maintaining a pre-defined asset allocation.
* Flexible premium payment options: At inception you can choose to either pay premium throughout the policy term or for a limited period.
* Top up: Flexibility to invest surplus money over and above your regular premiums.
* Loyalty Additions: Paid at the end of every policy year, starting from the 10 policy year, on payment of all due premiums.
* Tax Benefits: On premiums paid and benefits received, as per prevailing tax laws.

Sum Assured Details

* Minimum Sum Assured Age <45 yrs : 10 X annual premium or (0.5 X Policy Term X Annual premium), whichever is higher
* Minimum Sum Assured Age >= 45 yrs : 10 X annual premium or (0.25 X Policy Term X annual premium), whichever is higher
* Maximum Sum Assured : As per sustainability matrix

Entry Age Details

Min/ Max Age at Entry (ACB) : 0 - 65 years

Top-up Premium

Top up :
You can decide to make additional investments by investing surplus money over and above your regular premiums, at your convenience subject to underwriting. The minimum amount of Top up is ` 2,000. Top up premium can be paid any time during the term of the policy, subject to underwriting, except during the last five years of the policy term, so long as all due premiums have been paid. There is a lock-in period of five years for each Top up premium from the date of payment of that Top up premium for the purpose of partial withdrawals only. There will be an increase of Sum Assured when the Policyholder avails of a Top up. Increase in Sum Assured will depend on age of the life assured at the time of payment of Top up premium, as mentioned below:
* Age at the time of Top up premium payment : <60
* Increase in Sum Assured : 125% or 500% of Top up premium, as per policyholder's choice subject to underwriting

* Age at the time of Top up premium payment : >=60
* Increase in Sum Assured : 125% of Top up premium

Premium Payment Term

Premium Payment Term (PPT) :
* Premium payment option : Regular pay
* Premium payment term : Policy term
* Premium payment option : 5 pay
* Premium payment term : 5 years
* Premium payment option : 10 pay
* Premium payment term : 10 years
Premium payment term once chosen at inception cannot be changed.
* Mode of Premium Payment : Yearly
* Minimum Premium : Rs. 24,000
* Maximum Premium : Unlimited

Policy Administration Charges

Policy Administration Charge :
The policy administration charge will be as a percentage of the annual premium and will be levied every month for the term of the policy, subject to a maximum of Rs.500 per month. The policy administration charge will be as set out below:
* Policy Year : Year 1 to PPT
* Policy Administration Charge per month (% of Annual Premium payable) : 0.47%
* Policy Year :Three after
* Policy Administration Charge per month (% of Annual Premium payable) : 0.10%

Fund Management Charges

Fund Management Charge (FMC) :
The following fund management charges will be applicable and will be adjusted from the NAV on a daily basis. This charge will be a percentage of the fund value.
Fund : FMC
Opportunities Fund, Multi Cap Growth Fund, Bluechip Fund, Maximiser V, Multi Cap Balanced Fund, Income Fund : 1.35%p.a
Money Market Fund :0.75% p.a

Mortality Charges

Mortality Charges :
Mortality charges will be deducted on a monthly basis based on the Sum at Risk.
Sum at Risk = Maximum {Sum Assured plus Fund Value, Minimum Death Benefit } - Fund Value
Indicative annual charges per thousand life cover for a healthy male and female life are as shown below:
* Age (yrs) 10
Male (Rs). : 0.77
Female (Rs). 0.72

* Age (yrs) 20
Male (Rs). : 1.33
Female (Rs). : 1.269

* Age (yrs) 30
Male (Rs). : 1.46
Female (Rs). : 1.46

* Age (yrs) 40
Male (Rs). : 2.48
Female (Rs). : 2.12

* Age (yrs) 50
Male (Rs). : 5.91
Female (Rs). : 4.85

* Age (yrs) 60
Male (Rs). : 14.21
Female (Rs). : 11.83

Premium allocation Charges

Premium Allocation Charge :
This will be deducted from the premium amount at the time of premium payment and units will be allocated in the chosen fund thereafter. This charge is a percentage of the premium.
Year 1 : 3%
Year 2 : 2%
Year 3 - Year 5 : 1%
Year 6 onwards : NIL

Switching Charges

Switching Charges :
Four free switches are allowed every policy year. Subsequent switches would be charged Rs.100 per switch. Any unutilized free switch cannot be carried forward to the next policy year .

Surrender Details

Surrender :
During the first five policy years, on receipt of intimation that the Policyholder wishes to surrender the Policy, the Fund Value after deduction of applicable premium discontinuance charge, shall be transferred to the Discontinued Policy Fund. The Policyholder will be entitled to the Fund Value on the earlier of death and expiry of the lock-in period or any other period prescribed by the Regulator, and all other rights, benefits and interests under the Policy will be extinguished.
On surrender after completion of the fifth policy year, the life insurance cover and rider cover, if any, shall cease and the policy shall terminate and Fund Value, including Top up Fund value, if any, will be paid to the policyholder.
On surrender of the policy all rights, benefits and interests under the Policy and the rider, if any, shall be extinguished.

Partial Withdrawal Charge

Partial Withdrawals :
Partial withdrawals are allowed only if the Life Assured is at least 18 years of age. There is a lock-in period of five years for each Top up premium from the date of payment of that Top up premium for the purpose of partial withdrawals. Partial Withdrawal will not reduce Minimum Death Benefit.

Miscellaneous charges

Miscellaneous Charges :
If there are any policy alterations during the policy term, they will be subject to a miscellaneous charge of ` 250 per alteration .

Maturity Age Details

Min/ Max age at policy expiry (ACB) : 18 / 75 years

Historical NAV

DateNAV
1 2 >
15-09-2014
18.21
12-09-2014
18.33
11-09-2014
18.24
10-09-2014
18.25
09-09-2014
18.41
08-09-2014
18.39
05-09-2014
18.19
Start Date :
End Date :

ULIP Performance

Time PeriodReturn (%)
1 Day
-0.65%
1 Week
-1.09%
1 Month
5.02%
3 Months
10.83%
6 Months
28.33%
9 Months
34.59%
1 Year
45.45%
2 Years
0.00%
3 Years
0.00%
5 Years
0.00%

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