ICICI Pru Pinnacle Review
ICICI Pru Pinnacle is an open-ended unit linked insurance policy that aims to protect your investments when you are financially unstable. It offers the advantage of varying exposure to equities in combination with downside protection. It offers limited premium payment term providing long period insurance protection. This is the next big ULIP with a brand name on its own after their ICICI Pru Ace.
The policy term is 10 years, and the minimum premium amount is Rs.50,000 per annum. The policy offers both half-yearly and yearly premium payment modes. The age eligibility for owning this policy is 8 to 65 years old. You can surrender the policy after the 3rd year. But you are eligible for no surrender charges only after the 5th year. The Pinnacle fund option aims to generate optimal returns through well managed equity portfolio while using debt instruments to manage the guarantee. Just like LIC Wealth Plus and BSLI Platinum Premier Plan, this plan that is, ICICI Pru Pinnacle too guarantees you with highest NAV that is recorded for the first 7 years of the plan. Let us see how different is ICICI Pru Pinnacle from the other two that were already reviewed here.
Benefits of Pru Pinnacle:
- Promises highest NAV recorded in the first seven years.
- Serves as a cost-effective guaranteed return plan.
- Offers the benefit of guaranteed highest NAV on maturity.
- Offers limited premium payment term.
- Enables you to enjoy insurance protection for longer period (10 years) by paying premiums for only 3 policy years.
- Allows partial withdrawals from the 6th year of the policy.
- Enables you to increase or decrease the insured amount anytime during the policy term.
- Offers excellent tax benefits on the premium paid and the benefits received, based on the prevailing income tax laws.
- Enables you to receive additional 3 per cent of fund value upon maturity.
- Provides excellent death benefit by providing the nominee with higher assured amount (five times the annual premium) or the fund value.
As mentioned above, partial withdrawal benefit for ICICI Prudential Pinnacle can be enjoyed to the full only after 6 years but surrender is allowed after 3 years.
Allocation Charges:
The respective allocation charges for ICICI Pru Pinnacle for the first year it is 14% and 4% for the second year and 3% for the third year and so on.
Related Posts:
Did you enjoy this post? Why not leave a comment below and continue the conversation, or subscribe to my feed and get articles like this delivered automatically to your feed reader.
Comments
Dear sir,i taken this policy on 26 November, 2010 from icici bank tata sakchi branch.I am working in Saudi Arabia.My policy no is 14679762,i need my all paper related with scheme by scan in my e-mial address.
so i am requesting to you please send my all paper related with this policy to my mail address
thanks
I came to know that a test namely MER is needed for this policy. I would like to know what the test is for and the meaning of the test. Can anyone help me please?
Does the fund close on 31 Mar 10. Can I invest as on 01 Apr 10.
The fund manager will obviously invest significantly into debt instruments to be able to provide the customers the assured sum.