ICICI Pru Pinnacle is a unit linked insurance policy that offers the advantage of varying exposure to equities along with downside protection, so that your investments are protected in financially volatile times. It also offers a limited premium payment term while allowing you to enjoy insurance protection for a longer period.
ICICI Pru Pinnacle is similar to SBI Life's Smart ULIP, BSLI Platinum Plus and TATA AIG's Invest Assure apex.
All three plans guarantee the highest NAV on the maturity during the fixed term.
ICICI Pru Pinnacle guarantees highest NAV recorded on daily basis for the first seven years (from 24/10/09 to 24/10/16).
This policy has two distinct features.Addition of amount equal to 3% of fund value (not highest but prevailing NAV on maturity). This will enhance the return further.
Unlike other two plans (Smart ULIP and Invest Apex Assure), highest NAV is recorded on daily basis.
Features and benefits of ICICI Pru Pinnacle
Guaranteed NAV
With ICICI Pru Pinnacle, we guarantee the highest Net Asset Value (NAV) recorded on a daily basis, in the first 7 years of the fund, subject to a minimum of Rs.10. The guarantee will be applicable only at maturity. The period of 7 years starts from the date of launch of Pinnacle Fund and will end on the completion of 7 years (from 24/10/09 to 24/10/16).
At maturity, the higher of Fund Value (Units X NAV) and Guaranteed Value (Units X Guaranteed NAV) as on the maturity date shall be payable.
Scenario 1
Scenario 2
Number of Units at maturity (A)
50,000
50,000
Guaranteed NAV (B)
Rs.20
Rs.20
NAV on maturity date (C)
Rs.15
Rs.25
Guaranteed Value (A x B)
Rs 10.0 lacs
Rs 10.0 lacs
Fund Value (A x C)
Rs 7.5 lacs
Rs.12.5 lacs
Higher of (Guaranteed Value, Fund Value)
Rs. 10.0 lacs
Rs. 12.5 lacs
Not only this, ICICI Pru Pinnacle gives a boost of additional allocation amounting to 3% of Fund Value on the day of maturity (Guaranteed NAV will not be applicable to additional allocation)
Premium Payment Term
3 years
Minimum Premium
Rs.50,000 per annum
Modes of Premium Payment
Half yearly/Yearly
Minimum/Maximum Entry Age
8/ 65 years
Policy Term
10 years
Maximum Maturity Age
75 years
Minimum Sum Assured
5 x Annual Premium
Tax Benefit
Premium and any benefit amount received under this policy will be eligible for the tax benefit as per the prevailing Income Tax laws.
Guaranteed NAV: get the benefit of the highest NAV recorded on a daily basis, in the first 7 years of the fund, at maturity.
Limited premium payment term: pay premiums for only 3 policy years.
Additional allocation: added to your fund at maturity.
Death benefit: in the unfortunate event of death, the nominee receives higher of Sum Assured (reduced by partial withdrawals) and Fund Value.
Partial withdrawals: ensures liquidity from the 6th policy year onwards.
Tax benefits: avail tax benefits on the premiums paid and benefits received under the policy, as per the prevailing Income Tax laws.
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