The road to your financial goals has many twists, turns and probably a few unexpected roadblocks. Balancing the needs of savings and protection are major considerations in your financial planning. Liquidity with your savings is also important to take care of milestones in your life

Presenting CashPlus - an insurance plan that gives added protection savings, multiple options, plus the power of liquidity.

How does CashPlus provide you with protection?
CashPlus offers you three levels of cover (in the form of sum assured) for the same amount of total annual contribution. You have the option to choose amongst Basic, Standard and Enhanced level of cover, as given below:

You have the flexibility of shifting between the three levels of cover. (as per your changing requirements). For each level of sum assured, applicable mortality charges would be deducted from your premium. In the unfortunate event of death, your family's financial future is protected by an amount, which is equal to the sum of the chosen cover level and the value accumulated in your policy.

How does your policy value accumulate?
At the end of every year, the company would declare a bonus interest that would be applied on the allocable portion* of your premium. This bonus interest will have a compounding effect on the value of your policy. The differential between the bonus interest credited and the income earned on investments would not be more than 1%. The payment of the accumulated value of your policy (including the bonus interest declared) is guaranteed on maturity (termed as maturity proceeds), or in the case of unfortunate death, along with the sum assured (the amount of cover).

What are the maturity proceeds and how can you use them?
Maturity proceeds are the accumulated value of your policy at the time of maturity. However, if the value of your investment is more than the accumulated value of your policy then that too will be paid at the time of maturity.
You have the unique flexibility of receiving your maturity proceeds as a lump-sum or in equal annual instalments over 3 or 5 years which can be decided by you at maturity. In case of death, the remaining amount would be paid back. There is no life-cover during this withdrawal period.

How do you get the added advantage of liquidity?
With CashPlus you have the option of withdrawing from the accumulated value of your policy every year, after the first five years of the policy. It gives you an option to withdraw up to 10% of the accumulated value of your policy till that year. This helps you in taking care of your liquidity expenses and planning for milestones in your life.

Who can apply for CashPlus?
Any person-aged upto 60 years can apply for CashPlus. The maximum age at which coverceases is 75 years of age. The minimum term of the product is 10 years and the maximum term would be 30 years.
CashPlus has a minimumannual premium of Rs. 8,400, ahalf yearly premium of Rs. 4,200 and monthly premium of Rs.700.

Can CashPlus be discontinued?
CashPlus acquires a paid-up value after three policy years' premiums are fully paid. The paid up value will be the higher of the accumulated value of your policy and the investment value of the accumulated value at the time of death or maturity. The guaranteed surrender value will be 35% of all premiums paid excluding the 1st year premium, all extra premiums and premiums for rider benefits. In addition, the company may provide the current non-guaranteed surrender values as specified from time to time on request.

Can a loan be taken on CashPlus?
CashPlus provides a loan to policyholders, once the product is paid up. The loan amount would depend upon the paid-up value of the policy. Interest applicable from time to time would be charged on the loan amount.

What are the additional benefits that CashPlus provide?
For extra protection, CashPlus offers the add-on value of the following riders^#:

• Critical Illness Rider
• Major Surgical Assistance Rider
• Accident and Disability Benefit Rider
• Accident Benefit Cover
• Income Benefit Rider
• Waiver of Premium Rider.

* Investment of Premiums: The premiums paid by you would be invested after deducting the charges involved in the product. These costs are related to policy issuance, administration and servicing. In addition to this would be the cost of mortality.

Mortality Charges: The mortality would be charged on an annual basis from the contribution. This is an illustration of mortality rates per thousand for some ages, based on current level of charges.

An amount of 43% of your premium in the first year, 85% in the 2nd and 3rd year and 95% from the 4th year onwards, would be used for investment to provide you with returns. There is also a fixed charge of Rs.300 per annum.

Investment Objective: The investment objective of this plan is to provide a balanced investment between long-term capital appreciation and current income while protecting the capital. Investment will be in fixed income instruments in appropriate proportions depending on market conditions prevalent from time to time.

Indicative Portfolio Allocation:

Debt, Money Market & Cash : Minimum 100%

For the first year, there is a guarantee of 4% of bonus credit on the invested premium.

The investment administration charges would be an amount equal to 1.25% of the investment value.

Free Look period
Under the free look period, you now have the flexibility to review your policy. If, during this period, you wish to return your policy after reviewing the terms and conditions, you may do the same, by returning the original policy certificate, the policy document and a letter stating the reasons for the return. Please note that these must reach our Customer Service Desk (click here to reach Customer Service Desk) within 45 days from the date of receipt of the policy at your end.
We shall refund the premium paid by you, after deducting certain charges. These charges include a proportionate risk premium for the period of cover, the stamp duty on the policy and/ or any expenses borne by the Company on the medical examination.

For more FREE queries and detailed information, do call our ICICI Pru Advisor. That way, you can learn how best to cover your life!  Phone at Chennai :  9884001588