this material is strictly meant for circulation within the organization/ solely for training and/or...

This material is strictly meant for circulation within the organization/ solely for training and/or education of the employees of ICICI Prudential Life Insurance Co. Ltd. or its advisors, corporate agents or brokers and should not be further circulated or used for presentation to a prospect or general public at large.

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Parents have a strange reaction to their children

crying. The first time it happens, their

joy knows no bounds. From that moment on, they live

to never let it happen again!


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There are two lasting gifts we can give our children. One is roots. The other is

wings.


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Parents- Every child’s roots

You hold them close when they need to

feel safe

You hold their hand as they take their first

steps

You teach them their first few lessons


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Now, are you prepared to give your child wings??


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Education- A child’s wings

Key to a bright future Opens doors to realizing your child’s

dreams and ambitions Higher the education, better are the

chances of success


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Cost of wings…

Education Yearly Fee

Primary School Rs. 20,000

High School Rs. 25,000

College Rs. 50,000

Higher Education* Rs. 5,00,000

And this is today!!

*The annual fees for one of India’s top B-schools is Rs. 6,00,000 p.a.


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Higher Education

Today Rs. 5,00,000

5 years hence Rs. 7,00,000

10 years hence Rs. 10,00,000

15 years hence Rs.14,00,000

20 years hence Rs.20,00,000

Are you really prepared??

Inflation assumed @ 7% p.a.


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You need a solution that…

SavesAllows you to systematically invest your savings to provide the best opportunities for your child


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Changing family structures

Earlier- Joint families

Combined household income

Children were responsibility of the whole family

Now- Nuclear families

Lesser or no financial support

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Double income families

Both the parents contribute in equal measure towards:

A more secure lifestyle

Higher disposable income per household

Higher dependency on each earning member


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Different shades of parenthood

A child is a joint responsibility…

It takes a father AND a mother to parent a child!!


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Secures Provides all-round protection for your child’s future


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The problem… Unforeseen death of parent

Unpaid Loans

Child’s Future

Future Family

Income

Emotional Loss


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In your absence…

Your child studies in the best school in the city today

Will your family be able to afford that tomorrow ?

Don’t you think that emergency expenses could wipe

out the savings you made for your child’s education ?

You have made some savings for your child’s education


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Secures Provides all-round protection for your child’s future

Insures Ensures that your child’s future is not compromised by unforeseen events


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You need…


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A solution that ensures…

OUR child is taken care of, even without me

AND OUR savings for our child’s

future are not used elsewhere

AND OUR child’s future continues

as planned at all times

Joint Life option

Lump sum Death Benefit

Payer Waiver Benefit


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Coverage Options

Single life – Insurance coverage for yourself

Joint life* – Insurance coverage for both you

and your spouse in the same policy.

*The Death Benefit, in case of Joint Life, will only be payable in the event of death of either of the parents, whichever is earlier


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Death Benefit

In the event of unfortunate death of the parent during the term of the policy, the following benefits shall be paid: Sum Assured subject to the Minimum

Death Benefit

Payer Waiver benefit: All future premiums payable under the policy will be waived by the Company

At the end of the Policy Term, the nominee will receive the maturity benefit.


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ICICI Pru SmartKid Premier in detail


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Definitions

Single Life option

Joint Life option

Parent1: 1. Proposer 2. Life Assured3. Policyholder

1. Primary proposer 2. Life Assured3. Policyholder

Parent 2: NA 1. Secondary Proposer

2. Life Assured

Child Nominee Nominee In Joint Life option, either of the parents can be the Primary

Proposer. The other parent is the Secondary Proposer

Premium is paid by the Primary proposer

In Joint Life option, Primary Proposer is the policyholder and has the right to carry out transactions and receive payouts


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How does the policy work ?

Since parents provide the economic support for the child’s education, the life of the parents are insured under this policy

Child is the beneficiary of the policy

Parents contribute the premium regularly which is invested in Unit-Linked funds generating potentially high returns over the long term


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How does the policy work ?

Partial withdrawals are allowed to provide money at key educational milestones of the child

Maturity Benefit – Fund Value is provided at the maturity of the policy

Alternatively, you can select Settlement Options


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Features of ICICI Pru SmartKid Premier

Key Features: Coverage options – Choice between

Single life – Insurance coverage for yourself

Joint life – Insurance coverage for both you and your

spouse in the same policy

Comprehensive protection for child’s education – Sum

Assured paid immediately on death PLUS waiver of all

future premiums

Choice of three portfolio strategies – Fixed, LifeCycle and

Trigger

Flexible premium payment options

Loyalty Additions at the end of every fifth policy year,

starting from the 10th year

Child education solutionProduct Category:


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ICICI Pru SmartKid Premier at a glance

Premium payment options

Minimum annual premium

Regular pay Rs. 18,000

Limited pay 5 Rs. 48,000



Features ICICI Pru SmartKid Premier

Minimum Premium

Maximum Premium Rs. 100,000 p.a.

Policy Term 10 / 15 / 20 / 25 years

Premium payment term (PPT)

Premium payment options

Minimum annual premium

Regular pay Rs. 18,000





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Features ICICI Pru SmartKid Premier

Modes of Premium Payment Yearly, Half-yearly, Monthly

Minimum Sum Assured

Higher of (10 × annual premium) and (0.5 × Policy Term × annual premium)

Maximum Sum Assured As per sustainability matrix

Min age* at entry (Parent) 20 years

Max age* at entry (Parent)60 years for Single Life, 55 for Joint Life

Maximum age* at maturity (Parent)

70 years for Single Life, 65 years Joint Life

Min/ Max age* at entry (Child)

0 / 15 years

Min/ Max age* at maturity (Child)

18 / 25 years

*Age completed birthday

ICICI Pru SmartKid Premier at a glance


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Loyalty Additions

Calculated as 2% of the average of the policy’s Fund Values on the last day of eight policy quarters preceding the said allocation

Paid at the end of every fifth policy year, starting from the 10th policy year

Applicable only if all due premiums have been paid


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Maturity benefit

At maturity the Fund Value including the Top up Fund Value, if any, shall be payable.

You can also opt for the Settlement Option to Receive payouts as monthly (direct credits

only), quarterly, half-yearly or annual instalments over a period of up to five years, post maturity

At any time during the settlement period, the entire Fund Value may be taken as a lumpsum This material is strictly meant for circulation within the organization/ solely for training and/or education of the

employees of ICICI Prudential Life Insurance Co. Ltd. or its advisors, corporate agents or brokers and should not be further circulated or used for presentation to a prospect or general public at large.

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Minimum Death Benefit

Minimum Death Benefit is 105% of the total premiums (including top-up premiums) paid LESS:

The amount of partial withdrawals made during the two years immediately preceding the date of death of Life Assured where death occurs before or at age 60 last birthday

The amount of all partial withdrawals made after attaining age 58 last birthday where the death of Life Assured occurs after age 60 last birthday


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Changing the Coverage Option

Single Life coverage to Joint Life coverage: Allowed in the event of the Policyholder’s marriage during the Policy Term

Joint Life coverage to Single Life coverage: Allowed in the event of legal separation of the Lives Assured during the Policy Term

The change shall be effective from the next Policy Anniversary, subject to underwriting


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Top Ups

You have the option to increase your investment by investing additional money over and above your regular premiums, at your convenience

Minimum top-up amount is Rs. 2,000

Top-up premiums can be paid anytime during the term of the policy, subject to underwriting, except during the last five years of the policy term, so long as all due premiums have been paid

In case you avail of a top up, you will have to increase your Sum Assured by either 125% or 500% of the top up premium amountThis material is strictly meant for circulation within the

organization/ solely for training and/or education of the employees of ICICI Prudential Life Insurance Co. Ltd. or its advisors, corporate agents or brokers and should not be further circulated or used for presentation to a prospect or general public at large.

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Partial withdrawals

Facility to withdraw money at key educational milestones of the child’s life shall be allowed after completion of 5 policy years

Minimum partial withdrawal amount is Rs.2,000

One partial withdrawal allowed every policy year

Maximum partial withdrawal amount: 20% of the FV as on the date of partial withdrawal

Partial withdrawals are free of cost This material is strictly meant for circulation within the organization/ solely for training and/or education of the employees of ICICI Prudential Life Insurance Co. Ltd. or its advisors, corporate agents or brokers and should not be further circulated or used for presentation to a prospect or general public at large.

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Increase/Decrease in Sum Assured

Increase in Sum Assured Allowed only on policy anniversaries before the

policy anniversary on which the parent (or either of the parents in case the Joint life option is chosen) is aged 60 years

Such increases would be allowed in multiples of Rs 1,000

Cost of any medical reports and charges will be borne by the policyholder and recovered by redemption of units

Decrease in Sum Assured Allowed only on policy anniversaries subject to

the minimum SA restrictionsThis material is strictly meant for circulation within the organization/ solely for training and/or education of the employees of ICICI Prudential Life Insurance Co. Ltd. or its advisors, corporate agents or brokers and should not be further circulated or used for presentation to a prospect or general public at large.

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Automatic Transfer Strategy (ATS)

ATS is a strategy that will help you mitigate any risk arising from market volatility

With this strategy, you can invest your premium as a lump sum amount in our Money Market Fund and transfer a chosen amount every month into any one of the following equity funds: Multi Cap Growth Fund / Opportunities Fund / Bluechip Fund

ATS can be chosen in the application form itself

The minimum transfer amount is Rs.2000

This facility will be available free of charge and if Fixed Portfolio Strategy is chosen


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Other benefits

CIPS (Change in portfolio strategy) Allowed once every policy year and it is free of

cost

Switch Four free switches every policy year

Available only under Fixed Portfolio Strategy Premium redirection

Available only under Fixed Portfolio Strategy

Surrender Allowed after first five policy years After completion of the fifth policy year, the policy

shall terminate and Fund Value including Top up fund value, if any, will be paid to the policyholder


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Charges

Premium Allocation Charges:

Top up allocation charge: 2% of top up premium Policy Administration Charges

Mortality Charge will be deducted on a monthly basis. It consists of charges for Sum Assured Payer Waiver benefit

Year 1 Year 2 onwards

2% of the premium paid 0%

Charged p.m. as a % of annual premium

Year 1 to PPT 0.47%

Thereafter 0.10%


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Fund management charges

Fund NameFund Management

charge

Opportunities Fund 1.35%

Multi Cap Growth Fund 1.35%

Bluechip Fund 1.35%

Multi Cap Balanced Fund 1.35%

Income Fund 1.35%

Money Market Fund 0.75%

Return Guarantee Fund (RGF)*

1.25%*There will be an additional charge of 0.25% p.a. for the investment guarantee for the Return Guarantee Fund.


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Premium discontinuance charge

Year of premium

discontinuance

Annual premium ≤ Rs. 25,000

Annual premium > Rs. 25,000

1 20% of lower of (AP or FV), subject to a maximum of Rs.

3000

6% of lower of (AP or FV), subject to a maximum of Rs.

6000


2000


5000


1500


4000


1000


2000

5 and onwards

NIL NIL

AP – Annualized premium FV – Fund value


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Thank you


this material is strictly meant for circulation within the organization/ solely for training and/or...

Documents

training andor education

general public

corporate agents

higher education todayrs

childs wings key

childs roots

child wings

childs dreams