ICICI Prudential Wealth Builder II Plan is a unit-linked plan (ULIP) from the insurer. Customers can get insurance and investment benefit under this plan through any of the 7 funds available under this plan. Customers have to first select the premium and the premium tenure and the sum assured that will be enough to provide financial security for the family.
Additional Reading: How is guaranteed maturity benefit calculated?
This plan is a wealth builder plan and the benefits of the plan are mentioned below:
- Customers can make a choice between the portfolio strategies like Fixed Portfolio strategy and LifeCycle Based Portfolio Strategy
- Another important benefit is the flexibility of premium payment which can be for a limited period of time or for the entire tenure of the policy.
- Customers can also get loyalty benefits along with the tax benefits under the Income Tax Act, 1961.
- This plan provides fund value as maturity benefits (including the top-up fund value). These benefits can be received as a lump sum amount or as a staggered payment.
- The death benefits under the plan are usually calculated to be higher,
- Sum assured (including top-up sum assured)
- Fund value including top-up fund value
- Minimum death benefit (105% of the total premiums paid)
- Wealth boosters are provided under this plan in the form of extra units every 5th policy year from the end of the 10th policy year. These wealth boosters will be calculated as a percentage of average fund value on the last business day of the last eight policy quarters. The applicable percentage of wealth booster for each payment option under this plan is given below,
Wealth booster percentage
One pay option
Limited pay and Regular Pay option
ICICI Pru Wealth Builder II Plan is a unit-linked plan that provides the benefit of wealth building through the investment in approved funds. Customers get the flexibility of premium payment as well as selecting the amount of sum assured under the plan.