Last Updated on June 20, 2025 7:35:14 PM by Vivek Makwana
Want To Earn 💰 Second Income Without Quitting Your Job? Discover How You Can Work From Home As An ICICI Prudential Life Insurance Advisor And Boost Your Financial Freedom In Just A Few Hours A Week!
📅 What Is the ICICI Pru Second Income Plan?
ICICI Prudential’s second income plan is a life insurance-cum-savings plan that offers guaranteed payouts during your chosen income period. It acts as a source of regular income while offering life cover and maturity benefits. It’s ideal for risk-averse investors, retirees, or anyone seeking an alternative to fixed deposits.
🧹 Key Benefits at a Glance
- ✅ Guaranteed annual income
- ✅ Option to defer income and accumulate
- ✅ Booster payments (in specific variants)
- ✅ Life cover throughout the policy term
- ✅ Tax benefits under Sections 80C and 10(10D)*
🔤 ICICI Prudential Plan Variants Explained
| Plan Variant | When Income Starts | Booster Option | Lump Sum at Maturity | Ideal For |
| Immediate Income | 1st year after premium term | ❌ No | ✅ Yes | Retirees, passive income seekers |
| Immediate Income with Booster | 1st year | ✅ Yes (every 5 years) | ✅ Yes | Long-term savers, family planners |
| Deferred Income | After deferment (5–10 yrs) | ✅ Optional | ✅ Yes | Young professionals, goal planners |
📝 Realistic Example: How the Income Works
Investor Profile:
- Age: 35 years
- Annual Premium: Rs1,00,000
- Premium Paying Term: 10 years
- Policy Term: 20 years
- Income Term: 10 years
Expected Returns (Immediate Income with Booster)
| Year | Annual Payout (Rs) | Booster (Rs) | Remarks |
| 11 | 60,000 | – | income begins |
| 12 | 60,000 | – | – |
| 13 | 60,000 | – | – |
| 14 | 60,000 | – | – |
| 15 | 60,000 | 30,000 | Booster paid |
| 16–20 | Same as above | Same as above | – |
Maturity Benefit (Year 20): Rs4,00,000
Total Income Received:
- Annual Income: Rs6,00,000 (10 yrs x Rs60,000)
- Boosters: Rs1,50,000 (every 5 years)
- Maturity: Rs4,00,000
- Total Benefit: Rs11,50,000
Total Premium Paid: Rs1,00,000 x 10 = Rs10,00,000
Estimated IRR (Internal Rate of Return): ~5.1%
⚠️ ICICI Prudential Pros and Cons
| Pros | Cons |
| Guaranteed Income | IRR is lower than equity/MFs |
| Tax-free returns (under sec. 10(10D)* ) | Lock-in till maturity |
| Life cover | Limited liquidity |
| Booster adds to payouts | High early-exit charges |
🧬 Taxation Overview
- Premiums eligible for tax deduction under Section 80C (up to Rs1.5L/year)
- Maturity and income payouts tax-free under Section 10(10D), if conditions are met:
- Annual premium ≤ 10% of sum assured
- Policy not surrendered early
🧠 How to Decide If This Plan Is Right for You
Choosing a second income plan is a personal decision based on your financial goals, risk appetite, and time horizon. ICICI Pru’s income plan is best suited for those who:
- Prefer stable, low-risk income rather than market-linked volatility.
- Have long-term savings goals, like children’s education, retirement, or recurring lifestyle expenses.
- Want to combine life insurance with regular income.
- Are in a higher tax bracket and want to make use of tax exemptions.
However, it may not suit those seeking high growth, short-term liquidity, or individuals who can tolerate market risks for potentially better returns through mutual funds or equities.
If you’re unsure, it’s wise to consult a licensed financial advisor who can evaluate this plan relative to your overall portfolio.
📝 How to Become an Advisor: 6 Simple Steps
- Express Interest: Contact ICICI Prudential to express your interest in becoming an advisor.
- Submit Documents: Provide necessary documents, including age proof, address proof, education certificates, PAN card, passport-sized photograph, and a canceled cheque.
- Regulatory Training: Complete the mandatory IRDAI training program.
- Certification Exam: Pass the IRDAI certification exam to qualify as a certified Life Insurance Advisor.
- Advisor Induction Program: Attend the Advisor Induction Program to familiarize yourself with the company’s products and processes.
- Start Advising: Begin your journey as an ICICI Prudential Life Insurance Advisor and start earning.
❓ FAQs
1. Is this a good option for retirement income?
Yes. It offers stable, predictable income with life cover, making it suitable for retirement planning. You start receiving income after the premium payment term, helping supplement pensions or savings.
2. Can I stop paying premiums midway?
You can stop, but benefits will be reduced. The plan becomes a “paid-up” policy or may be surrendered. In both cases, income and maturity values will be lower than originally planned.
3. Is there any risk of losing money?
There is no market risk, as this is not a ULIP. However, exiting the plan early or failing to complete premium payments may lead to surrender charges or loss of benefits.
4. What is the minimum premium I can pay?
The minimum premium depends on the age and plan variant but typically starts from Rs50,000 annually. ICICI Prudential may have age-based limits.
5. How is this different from a fixed deposit?
Unlike fixed deposits, ICICI’s plan offers life cover and tax-free income. Returns are structured and guaranteed, with added features like boosters and maturity benefits.
🚀 Take the First Step Today!
Embark on a rewarding journey with ICICI Prudential Life Insurance. By becoming an advisor, you not only earn a second income but also play a vital role in securing the financial futures of others. Take control of your time, income, and career growth.
📄 Final Thoughts
If you’re searching for a low-risk second income option with life insurance benefits and tax efficiency, ICICI Prudential’s income plans are worth considering. Though returns are modest, the guaranteed payouts and stability make it ideal for conservative investors.
This plan works best when held for the full policy term. If you are consistent with premiums and don’t plan to access funds prematurely, it can act as a predictable cash flow generator in your financial toolkit. Paired with other investment vehicles, it can enhance overall portfolio diversification.
🔒 Disclaimer:
This article is for informational purposes only. Always consult a certified financial advisor before investing. ICICI Prudential plan features, returns, and benefits are subject to change. Tax laws applicable as per prevailing regulations.
Ready to Start? Visit the official ICICI Prudential Life Insurance Advisor page to learn more and begin your application process.