ICICI Pru Group Superannuation Plan is a group plan that helps employers to pay pension to their employees. Annuity is a retirement benefit that employees receive as regular income. The income in the form of a payout starts at the time of your retirement. The Group Superannuation Plan ensures that the employer has sufficient funds to take care of their employees.
The following eligibility criteria must be fulfilled when applying for the ICICI Pru Group Superannuation Plan Plan:
|Minimum age at entry||20 years|
|Maximum age at entry||85 years|
|Minimum age at maturity||45 years|
|Maximum age at maturity||80 years|
|Type of Plan||Unit Linked/ Endowment Pension Benefit Plan|
The sum assured, the policy term and the premium payment mode under the ICICI Pru Group Superannuation Plan is indicated in the table below:
|Minimum Policy Term||1 year|
|Annuity Option||5 Annuity options available|
|Premium Payment Frequency||Once|
*Premiums vary based on age, location, plan term and other factors
The ICICI Pru Group Superannuation Plan offers the following benefits:
Investment Options: There are two investment options under the Group Superannuation Plan from ICICI Prudential. They are Unit Linked Plan or Endowment Plan.
There are no add-on plans under the ICICI Pru Group Superannuation Plan.
Some of the other benefits that can be utilised by a policyholder while purchasing the ICICI Pru Group Superannuation Plan are:
The ICICI Pru Group Superannuation Plan allows you to choose from two investment options and offers solutions that are customised to meet your needs. ICICI Prudential Life Insurance offers highly competitive and dedicated team that assists you in availing the plan and its benefits. The settlement is quick and hassle-free. In addition to these features, ICICI Prudential offers discounts to its customer buying this plan.
You can apply for the plan at any time between the ages of 20 to 85 years.
The minimum policy term under the plan is one year.
The premium payment under this plan is made at once by the employer.
The minimum and maximum vesting age to a part of the plan is 45years and 80 years, respectively.
There are five annuity options available under the Group Superannuation plan.