Investment Insurance - What Is Investment Insurance?| ICICI Pru Life (2024)

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Calculate Buy What Is Investment Insurance? Insurance and Investment Benefits of Investment Insurance Funds for Emergencies and Leisure, both Systematic Withdrawals^ Tax Benefits Investment insurance plans offered by ICICI Pru Life People like you also read ... FAQs

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In ULIPs, the Investment Risk In The Investment Portfolio Is Borne By The Policyholder

What Is Investment Insurance?

Investment insurance is a financial product that combines the benefits of both insurance and investment. A ULIP can be considered an investment insurance plan. It secures your loved ones financially in case of an unfortunate event and at the same time, helps you grow your money.

Insurance investment plans can be ideal for all ages, throughout your earning years. An investment insurance plan is a single solution to help you achieve your long-term financial goals, such as purchasing a house, starting a business, a financially independent retirement, and more. It enables you to live stress-free and protect your family's needs.

Insurance and Investment

Insurance and investment are two important components of financial planning. They offer distinct benefits and cater to your financial needs. Here is how:

Insurance provides you with a life cover that secures your loved ones financially in case of any unfortunate event. It provides your loved ones with a fixed amount of money in such a situation.

Investment helps you earn returns on your money by investing in market-linked instruments. Your money gets invested in equity and debt markets and offers you with returns. These returns can help you meet your financial goals.

Investment insurance offers the benefits of both insurance (through a life cover) and investment (market-linked returns). It offers an assured life cover amount in the case of an unfortunate event and, at the same time, helps you grow your money and generate returns for your financial goals.

Benefits of Investment Insurance

Funds for Emergencies and Leisure, both

Investment insurance plans give you a life cover that secures your loved ones in case of an unfortunate event. In addition, the returns from the plan can be used to fulfil your financial needs and goals. You can use the money to buy a house, travel, pay your child’s education fees, and more. You can also set it aside as an emergency fund to be used in case of any unplanned expenses. These funds can be withdrawn at any time after the first five years of the plan.

Systematic Withdrawals^

Some investment insurance plans offer the option to get regular payouts. You can opt for systematic withdrawals and create a regular source of income for yourself.

Tax Benefits

As these plans have a life insurance component, they qualify for tax benefits under The Income Tax Act, 1961. You can claim a deduction of up to ₹ 1.5 lakh on the premiums paid under the policy subject to conditions under Section 80C of the Income Tax Act, 1961. The payouts you receive from the plan are also tax-free subject to the conditions under Section 10(10D).

Investment insurance plans offered by ICICI Pru Life

ICICI Pru Signature:

This plan invests your money in market-linked instruments. You may choose to invest in high-performing equity funds, low-risk debt funds, or balanced funds, as per your risk appetite. You can also switch between the funds as many times as you want without any extra cost. The plan offers four portfolio strategies that help you manage your money as per your requirements.

ICICI Pru Signature offers you the flexibility to choose the premiums you want to pay as per your convenience. You can choose to pay the premiums monthly, half-yearly, yearly, or all at once. The plan also gives you the flexibility to increase your investment in the plan any time during the policy term using the top-up feature.

In addition, ICICI Pru Signature offers a life cover throughout your policy term. This ensures that your loved ones are financially secured, no matter what!

The plan also offers tax* benefits as per The Income Tax Act, 1961.

ICICI Pru Protect N Gain:

This plan also helps you invest your money in market-linked instruments. You may choose to invest in high-performing equity funds, low-risk debt funds, or balanced funds, as per your risk appetite. You can also switch between the funds as many times as you want without any extra cost. The plan offers four portfolio strategies that help you manage your money as per your requirements.

With ICICI Pru Protect N Gain, you can choose the amount of life cover you want from the plan. Your premiums are calculated basis the life cover amount that you choose. You can choose to pay the premiums monthly, half-yearly or yearly, as per your convenience. The plan also gives you the flexibility to increase your investment in the plan any time during the policy term using the top-up feature. The Systematic Withdrawal^ Plan feature allows you to withdraw a pre-determined percentage of your fund value regularly. This can help you to meet specific needs such as your child’s education or money for day-to-day expenses during retirement.

The plan also offers tax* benefits as per The Income Tax Act, 1961.

People like you also read ...

Disclaimer

* Tax benefits under the policy are subject to conditions under Sections 80C, 10(10D),115BAC and other provisions of the Income Tax Act, 1961. Goods and Service 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.

^Systematic Withdrawal Plan is allowed only after the first five policy years.

ICICI Pru Protect N Gain UIN:

ICICI Pru Signature UIN:

W/II/0562/2023-24

Investment Insurance - What Is Investment Insurance?| ICICI Pru Life (2024)

FAQs

Investment Insurance - What Is Investment Insurance?| ICICI Pru Life? ›

An investment insurance plan is a single solution to help you achieve your long-term financial goals, such as purchasing a house, starting a business, a financially independent retirement, and more. It enables you to live stress-free and protect your family's needs.

Tell Me More ›
What is investment insurance? ›

Investment Insurance protects investors or credit institutions issuing investment loans against risks of property damage and/or non-payment of amounts due to investors resulting from non-transfer, expropriation or political violence risks.

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What is an investment life insurance? ›

Life insurance with cash value can be used as an investment tool. As you pay premiums, a portion goes toward your cash value, which will grow over time. Once you've built up enough cash value, you can access it in several ways, including getting a policy loan and withdrawing funds.

View More ›
What is investor insurance? ›

Investors Insurance General Information

The company offers personalized index and fixed-rate annuities with withdrawal options, lifetime income streams as well as premium bonuses, thereby helping clients in meeting their retirement goals while minimizing the downside risk to their principal.

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Why invest in ICICI Prudential Life Insurance? ›

The life cover* keeps your loved ones financially secured in case of an unfortunate event and the investment helps you achieve your financial goals. ULIPs` provide you the option to invest in high-risk equity funds that offer higher returns, low-risk debt funds or a mix of both, as per your risk appetite.

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What is investment based insurance? ›

Insurance-based investments are investments that can only be provided to clients by an advisor with a insurance license. There are three primary insurance-based investment solutions that our team offers to clients: segregated funds, guaranteed interest annuities (GIA's), and regular annuities.

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What is the major difference between insurance and investment? ›

Investment aims to get a return of all money or assets, which have been given to third parties, along with the profits at an agreed time in the future. Insurance provides protection or protection that can be enjoyed during the coverage period.

Continue Reading ›
Is it a good idea to invest in life insurance? ›

The Benefits of Using Life Insurance as an Investment

This strategy offers a unique combination of financial protection and growth opportunities that other investments may not provide. Tax Advantages: The cash value in your policy grows tax-deferred, meaning you won't pay taxes on any earnings until you withdraw them.

Get More Info Here ›
What are two disadvantages of using life insurance as an investment? ›

Disadvantages of buying life insurance
  • It can be expensive if you're older or have health conditions.
  • Whole life insurance can be unaffordable in the long run.
  • Cash value can be a weak investment tool.
  • Applying can be daunting.
Aug 22, 2023

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How do you make money investing in life insurance? ›

4 ways to use whole life insurance as an investment
  1. Withdraw or take a loan on the cash value. ...
  2. Create generational wealth. ...
  3. Collect dividends. ...
  4. Surrender the policy (but only if you no longer need it)
Sep 6, 2023

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What is the limit for investment account insurance? ›

Generally, SIPC covers up to $500,000 per account per brokerage firm, up to $250,000 of which can be in cash.

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What type of insurance is investment based? ›

Variable life is a permanent life insurance policy with an investment component. The death benefit and cash values vary. The company invests your cash values into separate investment accounts, such as portfolios of stocks, bonds, and other investments. These separate accounts are like mutual funds.

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Which is a type of insurance to avoid? ›

Accidental death insurance

Accidental death policies may be more likely to challenge claims and have numerous stipulations preventing you from benefiting from the insurance in the first place.

Keep Reading ›
Which scheme is best in ICICI Prudential? ›

ICICI Prudential MF Top Rated Funds
  • ICICI Prudential Infrastructure Direct-Growth. ...
  • ICICI Prudential Dividend Yield Equity Fund Direct-Growth. ...
  • ICICI Prudential Smallcap Fund Direct Plan-Growth. ...
  • ICICI Prudential Large & Mid Cap Fund Direct Plan-Growth. ...
  • ICICI Prudential Value Discovery Direct-Growth.

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Can we trust ICICI Prudential Life Insurance? ›

With ICICI Prudential's term plan, you can get your claim settled within 1 day >. The company has a claim settlement ratio of 97.8% (FY 2021-22) ~ and has paid ₹2.04 tn ` in claims (since inception up to Mar 31, 2022) You can check our last 5 years' claim settlement ratio here .

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Can I withdraw money from ICICI Prudential policy before maturity? ›

Partial withdrawals are generally allowed if the life assured is at least 18 years of age. Moreover, the amount you can withdraw partially may be subject to a minimum and a maximum limit, which can vary depending on your policy. You can withdraw up to 20% of the total fund value in a policy year.

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Are insurance investment plans worth it? ›

Comparatively low returns: Life insurance investments have conservative growth rates compared to traditional investments like equities or bonds. They offer stability but may not provide high returns, especially during market volatility.

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What is the difference between term insurance and investment plan? ›

The term insurance product is a simple life insurance component. Investment plans are a combination of insurance and investment components. Not applicable. 5 years or may vary with the insurer.

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Does investment insurance exist? ›

Are Investment Losses Insured? There's no insurance against the possible loss of your initial investment when you invest in a stock, bond, or mutual fund. 4 Insurance that you can purchase protects only against unexpected occurrences such as fire or theft, not depreciation in value.

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