Retirement Plan - ICICI Pru Guaranteed Pension Plan 2025

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What is ICICI Pru Guaranteed Pension Plan?

ICICI Pru Guaranteed Pension Plan is a single-premium annuity plan, where you can choose to get either immediate or deferred annuity as per your needs. There are a total of 11 different annuity options to choose from. The option you select will decide what kind of lifelong regular income you will receive under the ICICI Pru Guaranteed Pension Plan.

Recommended For

Funding your post retirement expenses

Creating a second source of income

Securing your financial well-being for life

Creating a post-retirement travel bucket list

Gifting a lifelong income to your spouse

Leaving behind a legacy for future generations

Buying annuity out of NPS proceeds

Converting your savings into regular lifelong income

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IMMEDIATE ANNUITY

DEFERRED ANNUITY

NPS PENSION

2 minutes overview

Guaranteed Lifelong Income whenever you are ready

Consider Deferred Income Annuities if you’re looking for:

Guaranteed income for life, starting in a few years

Higher income later because you’re able to put aside your savings now

A way to supplement your lifetime earnings down the road

Policy Snapshot

Income starts:

After 1-10 years

Min. Annuity:

₹12,000 p.a. or ₹1000 p.m.

Payment Frequency:

Just Once

Plan Options:

ROP on CI/PD^₸:

Yes

Joint Life:

Immediate family member

Top-Ups allowed:

Yes²

Online Benefit:

Yes

Loan Facility:

Yes

NPS Benefit:

Plan Option:

Deferred Single life with Return of Purchase Price

Invest once and get guaranteed^~ income starting anytime within 1-10 years

Pay premium once (without GST)

₹10 Lakh₹25 Lakh₹50 Lakh

Deferment period

5 years10 years

Your income starts from sixth year

Male, Age 50 yrs

Get Annual Income
₹ 88,617 yearly for life

After him, the purchase price of ₹10 lakh is returned to the nominee.

Eligibility for Deferred Annuity

The minimum age at entry for the annuitants is as follows:

Annuity Options	Minimum Age at Entry	Maximum Age at Entry
Deferred Single Life with Return of Purchase Price on Critical illness (CI) or Permanent Disability due to accident (PD) or Death	30	70
For all other Deferred Annuity Options	30	85

The minimum annuity per annum is ₹ 12,000, (₹ 1,000 per month) but there are no maximum limits.

High Purchase Price Benefit explained

High Purchase Price will give Higher Annuity

Purchase Price (₹)	Deferment Period (1-5 years)	Deferment Period (6-10 years)
< 3 Lakhs	0.00%	0.00%
>= 3 Lakh and < 5 Lakh	1.50%	2.75%
>=5 Lakh and < 10 Lakh	2.25%	3.25%
>=10 Lakhs and < 25 Lakhs	2.75%	3.75%
>= 25 Lakhs	3.00%	4.00%

Glossary

Annuity

Purchase Price

Annuitant/Primary Annuitant

Secondary Annuitant

Immediate Annuity

Deferred Annuity

Return of Purchase Price

Annuity

An annuity is an agreement between an individual and an insurance company where the company promises to provide you regular income (also commonly known as pension) in return for your premium contributions. Irrespective of the type of annuity variant you have, you receive annuity payments for your entire life.

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Create your annuity
Plan

Fill Application
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Plan Issued

Need Help? Call us Today

1800210 6005 (toll free)

1800 210 6009
(toll free for NPS Pension policy )

Why choose ICICI Prudential Life?

₹ 2.94 Lakh crore

Assets under management as on March 31, 2024^{^^}

Average bonus rate for the last six years^o

₹ 968.8 Crores

Bonus declared for policyholders^``

1 Day^<

Claim settlement

Frequently Asked Questions

What other benefits come with this plan?

Who all can buy this plan?

What is the maximum and minimum annuity per annum?

What critical illnesses are covered under the option?

Is there a provision for top-up?

Is cancellation in the free look period allowed?

What are the guaranteed additions in the deferment period?

Is there any death benefit?

10 Things to know about annuities

An annuity plan can provide you with a stream of guaranteed income even when you are not working, starting either immediately or after some years as per your choice and lasting for life.

Who guarantees my lifelong income?

How can I benefit from an annuity?

What other advantages does an annuity provide?

What is the rate of return(IRR) on an annuity plan?

How soon can my income begin?

Are there any age or health restrictions? 

What kind of funds can I use to purchase an annuity plan?

How much of my money should I use for purchasing annuity?

What happens to my money if I pass away unexpectedly?

Can I top-up my initial investment to increase my annuity payouts in the future?

Who guarantees my lifelong income?

Your income is guaranteed for life by ICICI Prudential Life Insurance Company. We make sure that your funds are invested in a mix of highly rated instruments backed by intense research and analysis. Such that even in case of any unfavourable external circumstances, your income stays guaranteed.

What other advantages does an annuity provide?

An annuity is not subject to the ups and downs of the financial markets. Your income stays guaranteed regardless of market fluctuations. ICICI Prudential lets you add immediate family member as Joint Life and ensure they continue receiving income even after you are gone. Moreover, with the Return of Purchase Price option, you can also leave behind a legacy for your nominee.

What is the rate of return(IRR) on an annuity plan?

An annuity plan does not give you a rate of return like other common investment options. Instead, it's a income product that provides you with fixed regular income that is guaranteed for life, regardless of how financial markets perform. The total payout you receive depends on how long you live. The longer you live, the more is the total income you’ll receive.

How much of my money should I use for purchasing annuity?

There are no upper or lower limits on the amount of money you can invest in an annuity plan, although the minimum amount you can receive as annuity is fixed. It is recommended to park aside a sum of money keeping in mind your current expenses and the prevailing inflation rates in the market. The annuity amount you receive in the future will depend on the purchase price which you pay and the plan option chosen by you right now.

Need Help? Call us Today

1800210 6005 (toll free)

1800 210 6009
(toll free for NPS Pension policy )

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