ICICI Prudential Pinnacle II Review
Official Overview
“ICICI Pru Pinnacle II is a unit linked insurance plan that offers protection for your family through its life insurance cover. It also gives you the advantage of varying exposure to equities with downside protection, so that your investments are protected in financially volatile times. It offers a limited premium payment term while allowing you to enjoy insurance protection for a longer period.
Guaranteed NAV (Conditions Apply*)
In this product, we guarantee the highest Net Asset Value (NAV) recorded on a daily basis, in the first 7 years of launch of the Pinnacle II 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 II Fund and will end on the completion of 7 years (from dd/mm/yy to dd/mm/yy). Guaranteed NAV will be calculated based on the NAV the series of the Pinnacle II Fund in which the premiums are invested.
*The product provides the “highest daily NAV? of the Pinnacle II fund in first 7 years, guaranteed at maturity. This guarantee is applicable only at maturity and is not available on partial withdrawal, surrender and death. There will be an additional charge for the cost of investment guarantee of 0.10% per annum. These will be made by adjustment to the NAV.”
Editor’s Review
About Pinnacle II
Editor’s Review
Key Features
Key Features
Benefits
Benefits
Negatives
Negatives
About the Company
“ICICI Prudential is a joint venture between ICICI Bank Ltd of India and Prudential Plc of London. More details about the promoters is given as below:
ICICI Bank
ICICI Bank Limited (NYSE:IBN) About ICICI Bank: ICICI Bank Ltd (NYSE:IBN) is India’s largest private sector bank and the second largest bank in the country with consolidated total assets of over US$ 100 billion as of March 31, 2010. ICICI Bank?s subsidiaries include India?s leading private sector insurance companies and among its largest securities brokerage firms, mutual funds and private equity firms. ICICI Bank?s presence currently spans 19 countries, including India.
Prudential Plc
Established in London in 1848, Prudential plc is an international retail financial services group with significant operations in Asia, the US and the UK serving around 25 million customers, policyholder and unit holders worldwide. The company has ?290 billion of assets under management and it is one of the best capitalised insurers in the world with an Insurance Groups Directive (IGD) capital surplus estimated at ?3.4 billion (at 31 December 2009). Prudential is a leading life insurer in Asia with a presence in 12 markets and have the top three position in seven key locations of Hong Kong, India, Indonesia, Malaysia, Singapore, the Philippines and Vietnam.”
| Information | |
|---|---|
| Entry Age | 8-65 Years |
| Policy Term | 10 Years |
| Paying Term | 5 Years |
| Minimum Premium | Rs. 50,000 |
| Maximum Premium | Rs. 2,00,000 |
| Allocation Charges | Year 1 – 6% Year 2 – 5% Year 3-5 – 3% |
| Admin Charges | Year 1-5: 0.25% of Annual Premium per month (3% p.a.) Year 6-10: 0.1% of Annual Premium per month |
| Loyalty Additions | 2% of FV on Maturity at Prevelant NAV |
| Riders | NA |
| Yield Net of Charges | 6.84% @10% return (as per brochure figures) |
| Other Information | Guaranteed Plan: Guarantee of highest daily NAV in recorded in First 7 years on Maturity Guaranteed NAV not taken into account for Calculating SA in case of Death No Top Ups |
“ICICI Pru Pinnacle II is a unit linked insurance plan that offers protection for your family through its life insurance cover. It …
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