LifeStage Pension LifeStage Pension is a policy that provides you with a unique lifecycle-based strategy that continuously re-distributes your money across various asset classes based on your life stage and risk tolerance, thus providing you with a customized retirement solution. The policy offers you the unique choice of two portfolio strategies: lifecycle based portfolio strategy and fixed portfolio strategy. In lifecycle based strategy, the funds are invested as per your age and also adjusted automatically to your change in age. In such a case, the portfolio is also rebalanced on a quarterly basis so that the equity debt mix is maintained atall times. Within the fixed strategy, you havea wide choice of 8 funds* wherein you can do allocations based on your own personal judgment. Benefit llustration Itis recommended that you read the enclosed customized Electronic Benefit llustration (EBI) in detail. It will help you track the growth of your fund(s) and other benefits at regular intervals. For your convenience we have highlighted every Sth year of your policy term. Benefits in detail |. Benefits during accumulation phase (premium payment phase) Choice of two portfolio strategies A.Lifecycle-based Portfolio Strategy B. Fixed Portfolio Strategy A.Lifecycle-based Portfolio Strategy Your financial needs are not static in nature and keep changing with your lifestage. Iti, therefore, necessary that your pension product adapts itself to your changing needs. In the lifecycle based portfolio strategy, we do the following in order to ensure your investments are managed effectively: + Atpolicy inception, your investment anda debtfund (Pension Protector) in proportions that depend on your age. We callt ill be distributed between two funds, an equity fund (Pension Flexi Growth} ‘Automatic Asset Allocation.Key Features Document - Contd. Table-1 Equity and Debt Allocation details at policy inception and during policy term Equity Component in the fund as Debt Component in the fund as represented by Pension Flexi Growth | represented by Pension Protector ‘Age Band. 18-25 85% 15% 26-35 75% 25% 36—45 (65% 35% 46-55 55% 45% 56-65 45% 55% 66-80 35% 5% Key Features of this strategy + Age based portfolio management Atpolicy inception, your investments wil be distributed between two funds Pension Flexi Growth and Pension Protector based on your age. As you move from age band to another, we will re-distribute your funds based on your age. Age wise portfolio distribution is shownintable—1 + Quarterly Rebalancing Your fund allocation might get altered because of market movements. We will visit your allocations every quarter and reset itto prescribed limits. + Capital preservation on Vesting When policy nears the chosen vesting date, you need to ensure capital preservation so that short-term market volatility at the time of vesting does not impact your investments. In order to achieve this, your investments in Pension Flexi Growth will be systematically transferred to Pension Protector in 10 installments in the last 10, quarters of your policy. B. Fixed Portfolio Strategy Ifyou prefer to allocate your investments into different classes based on your personal judgment, then you can opt for the fixed portfolio strategy. You have a choice of 8 funds to do the same. Please refer to sales literature for more details on the fund objectives. Death benefit This is a ZERO Sum Assured policy which makesita pure investment plan. In the unfortunate event of death before vesting, the spouse receives the fund value. This may be taken as lump sum or used to purchase an annuity from the company. However, where the spouse isnot the nominee, the benefits will be paid inlump sum to thenominee, Top-up You can decide to increase your investment by investing surplus money over and above your premiums, at your convenience. The minimum amount of top-up is Rs. 2,000. During the premium payment term, top-ups can be availed of ONLY ifthe premiums have not been reduced in any of the previous years. Tax benefit ‘Tax benefits under the policy are subject to conditions under Section 80 CCC, 10(10 A) of the Income Tax Act, 1961. ‘Tax laws are subject to amendments fromtimeto time. II. Benefits during annuity (pension) phase Flexible vesting age (retirement date) Youcan start receiving pension any’ this date till the age of 80 years. after you reach 50 years of age. However, you have the option of deferring Maturity benefit The accumulated value of your investment will start paying you a regular income in the form of a pension, at a frequency chosen by you. The annuity can be received monthly, quarterly, half-yearly or yearly.Key Features Document - Contd. The annuity options and the annuity rates are not guaranteed in advance but would be determined at the time of vesting. For conditions related to annuity, please refer to the details provided in the policy document. Choice of annuity option Choose among § different ways of receiving your pension. For details, please refer the product brochure, policy document or visit www.iciciprulife.com. Commutation of pension fund You have the option to receive a lump sum amount up to 1/3rd of the total fund value, tax-free, on the vesting (retirement) date, subject to the then prevailing tax laws, and invest the remaining fund value in purchasing an annuity. Choose your pension provider (open market option) Atthe time of retirement, this option enables you to buy a pension from any other life insurer of your choice. Flexibility Opt «+ Flexible Retirement Date You can start receiving pension anytime after you reach 50 years of age. However, in view of market conditions ordue to any other reason you can defer this datettil the age of 80 years. + Automatic Transfer Strategy (ATS) With this strategy, you can invest your entire premium amount in our money market fund (Pension Preserver) and transfer a chosen amount every month into any one of the funds, namely Pension Multiplier / Pension Flexi Growth and Pension R.L.C.H funds either on the 1st or 15th of every month. This facility will be available free of charge. Itis available only with the fixed strategy. + Top-up You can decide to increase your investment by investing surplus money over and above your premiums, at your convenience. The minimum amount of top-up is Rs.2,000. Top Up premiums can be paid anytime during the term of the contract tll the original vesting date provided all the due regular premiums have been paid by you. Ifthe customer isin life cycle based strategy, the top up amount will get rebalanced quarterly. + Cover Continuance Option This option ensures that your policy continues in case you are unable to pay premiums, any time after payment of the first three years’ premium. All applicable charges will be automatically deducted. You need to optfor cover continuance, ifyou wish to avail ofthis benefit. + Change in portfolio strategy (CIPS) You can change your chosen portfolio strategy up to 4 times during the life of your policy which includes the period after postponement of vesting, This facility is provided free of cost. + Switch between the funds in the fixed portfolio strategy When you have a fixed portfolio strategy then you also have the option to switch between the six8 fund options* as and when you choose depending on your financial priorities and investment decision. ‘Surrender value The policy acquires a surrender value after payment of full premium for the first policy year. This would be payable after applying certain surrender charges, and only after completion of three policy years. For details, please refer to the product brochure, policy document or simply log onto wwwiciciprulife.com Charges under the Policy Premium Allocation Charge There areno premium allocation charges for regular premiums in this policy. Alltop up premiums are subject to an allocation charge of 1% and the balance amount is used to allocate units.Key Features Document - Contd. Fund Management Charge (FMC) The eight funds* will have the following fund management charges and these will be adjusted from the NAV on a daily basis. Fund Pension Flexi Growth Pension Flexi Balanced Pension R.LC.H. Pension Multiplier Pension Balancer Pension Protector Pension Preserver Pension Return Guarantee Fund* % of FV If the customer opts for the Lifecycle-based portfolio strategy, then the FMCs will be charged according to the proportions held in Pension Flexi Growth and Pension Protector Funds at each point in time. Policy Administration Charge The Policy administration charge is a percentage of the annual premium and will be charged regardless of the premium payment status. This charge will be levied only for the first 10 policy years. The policy administration charges* are set out below: Premium Frequency Premium Band | Yearly and Half Yearly Monthly 15,000 - 35,000 (0.5% per month 0.6% per month 35,000-99,999 0.35% per month 0.45% per month 7,00,000-1,99,999 0.25% per month 0.35% per month 2,00,000 0.2% per month 0.3% per month ‘Switching Charge 4free switches are allowed every policy year. Subsequent switches would be charged atthe rate of Rs.100 per switch. “These charges will be deducted by cancellation of units. Service Tax and Education Cess: Levied in respect of service provided to a policyholder by a life insurer in relation to the risk cover in life insurance” [Section 65(105)(2x) of Finance Act, 1994, as amended by Finance Act (No2) 2004. Note: + The above information must be read in conjunction with the policy document + Incase of any conflict between this document and policy document, the terms mentioned in policy document shall be final and shall prevail « If the fund value falls below 110% of annual premium, the policy shall be terminated by paying the surrender value i.e. Fund Value after applying surrender charges + The Net Asset Value (NAV) of the units may fluctuate based on the performance of fund and factors influencing the capital market and the policy holder are responsible for his/her decisions. «+ Insuranceis the subject matter of the solicitation *Kindly contact your nearest branch or our call centre regarding availability of the PRGF and the applicable guaranteed NAV.