ICICI Prudential Life Insurance Company is a famous and reliable insurance company in India. It offers various types of insurance plans.  This company helps customers to meet financial requirements at every stage of life with their excellent insurance products. In this article, I will discuss the ICICI Prudential Smart Kid Solution. It offers well growth of money for the savings of a child’s career

Why ICICI Prudential Smart Kid Solution????

ICICI Prudential Smart Kid

#1.

This Policy helps us to get better returns and well growth of our money. For the long term, you can invest your money in equity and debt funds

#2.

With this plan, you can choose strategy of investment according to your child’s requirements. There are two portfolio strategies like fixed portfolio strategy and lifecycle-based portfolio strategy. With the 1st one, investment of money is easy in the debt and equity funds as per your choice. Moving your money from 1 fund to another is easy according to your investment requirements. With the 2nd one, the allocation of money occurs automatically depending upon your age.

#3.

If during the term of the policy, any unfortunate event happens. A lump sum amount will be given to your child. This will give coverage to all regular expenses of your child and also the expenses of the education of your child. So this plan gives protection and security to a child’s career even in your absence.

#4.

This company also rewards you for investing for a long period. This helps the growth of your wealth by addition to your savings by the company along with Loyalty additions.

#5.

Wealth boosters are available in this company.  So the Growth of your money is easy. And you do not need additional investments for that

#6.

 Withdrawal of portion of your money is possible from the sixth year of the policy. On the other hand, allow the growth of the remaining portion of your invested money. Thus this plan provides easy accessibility of money

#7.

If you invest up to Rs 1.5 lakh, in this plan, there is a reduction in your taxable income under 80C. This enables the saving of tax. If you want to shift money from debt to equity or vice-versa, the tax is also free. In case of maturity or death, the money which you will receive is also free of tax.

Regular Pay:

Minimum amount of premium/ year Rs 48000 if your age is between 20-49 years, Rs 1,20,000 if your age is between 50-52 years , Rs 5,00,000 if your age is between 53-54 years
Frequency of premium Yearly or half-yearly or monthly. You can pay according to your choice
Age at entry Minimum – 20 years Maximum – 54 years
Age at maturity Minimum – 30 years Maximum – 64 years
Duration of the policy For 10 to 25 years

One Pay:

Minimum amount of premium/ year Rs 48000 if your age is between 20-54 years Sum Assured-1.25Xsingle premium, Rs 48,000 if your age is between 20-28 years Sum Assured-10Xsingle premium, Rs 1,25,000 if your age is between 29-35 years Sum Assured-10Xsingle premium
Frequency of premium Only one time at the starting of the policy
Age at entry Minimum – 20 years Maximum – 54 years
Age at maturity Minimum – 30 years Maximum – 64 years
Duration of the policy For 10 years

Conclusion: Here I discussed the details of ICICI prudential Smart Kid Solution. It is an excellent education plan for the savings of your child’s future. For further details, you can meet advisor of ICICI Prudential Life insurance

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