ICICI Pru Assured Savings Plan: Benefits & Premiums | PolicyX
ICICI Prudential ICICI Prudential ★ 4.6

ICICI Assured Savings

There’s no harm in saving some money for the future. ICICI Pru present ...Read More

🛡️ IRDAI Approved
4.6/5 · 921 reviews
📊 80 years solvency ratio
Minimum Age - 5 year% claim settlement ratio
🌐 Annual, half-yearly,+ pan-India

About ICICI Assured Savings

A quick read on what this ICICI Prudential term plan covers and why it might be a fit for you.

‘Save smartly with ICICI Pru Assured Savings to get guaranteed returns and life cover’.

There's no harm in saving some money for the future. ICICI Pru presents an ICICI Pru Assured Savings Insurance Plan, a plan that gives you guaranteed benefits on survival, maturity, or death. You'll even receive 9%, 10%, or 11% of guaranteed addition automatically added to your base cover annually.

Along with other benefits, the investment plan offers flexibility to choose the premium payment term (PPT) and policy term (PT) based on your needs. You can even surrender your policy at any time after paying a two-year premium and get a Special Surrender Value (SSV).

ICICI Pru Assured Savings is a versatile life insurance plan. Let's explore the plan in detail for more clarity and better understanding.

ICICI Pru Assured Savings Plan offers a range of benefits including:

  • Guaranteed Benefits
  • Tax Benefits
  • Flexibility
  • Special surrender value
  • Loan benefit
  • Life cover

Eligibility Criteria for ICICI Assured Savings

Entry age
Entry age
Minimum age - 0 years Maximum age - 60 years
Maturity age
Maturity age
Maximum maturity age - 72 years
Policy tenure
Policy tenure
10 to 20 years
Premium payment term
Premium payment term
5/7/8/10/12 years
Premium payment frequency
Premium payment frequency
Annual / Half-yearly / Monthly
Sum assured
Sum assured
Minimum sum assured - 84,000 Maximum sum assured - 4 Lakhs

Pros & cons

A quick honest summary — the strengths and the trade-offs.

Pros

  • Special Surrender Value
  • Guaranteed Benefits
  • Tax Benefits

Cons

  • Pre-existing conditions not covered
  • Suicidal exclusion
  • Aviation accident exclusion

Who can buy this plan

Eligibility criteria pulled straight from the policy wording.

Minimum entry age - 0 years
Maximum entry age - 60 years
Minimum sum assured - 84
Maximum sum assured - 4 Lakhs
Maximum policy term - 20 years

Benefits of ICICI Assured Savings

There are various benefits to buying the ICICI Pru Assured Savings Plan. Let’s explore them in detail:

  • Death benefits: On the policyholder's unfortunate death before the end of the policy term, the guaranteed death benefit amount will be paid out as a lump sum to the nominee.
  • Guaranteed Additions: Your base cover would be increased by 9%, 10%, or 11% guaranteed additions annually to the basic sum assured amount.
  • Surrender Benefit: Under this plan, policy surrender is typically allowed after a premium payment of two full years’ premium.
  • Maturity benefits: At the end of policy tenure, maturity benefits are paid to the policyholder. The maturity benefits are the total of the guaranteed sum assured, any additions or bonuses if declared.

Features of ICICI Assured Savings

Key features that make ICICI Assured Savings stand out.

Additions

Depending on the total premium paid, 9%, 10%, or 11% of guaranteed addition would be added annually to your base cover.

Maturity Benefit

Guaranteed maturity benefits will be payable in a lump sum at the end of the policy term.

Flexible Premium Payment

The plan allows you to choose premium payment terms and policy terms based on your requirements.

Life Cover

The plan offers life cover for the entire policy term.

Documents Required for ICICI Assured Savings

Keep these documents handy when applying for ICICI Assured Savings.

Documents Required to Buy ICICI Pru Assured Savings Plan

Here is the list of documents required to buy the ICICI Pru Assured Savings Plan:

Photo ID Proof

Photo ID Proof (either of one) - Passport, Aadhaar card, PAN card, Driving license.

Age Proof

Age Proof (either of one) - Passport, Aadhaar card, PAN card, Driving license.

Address Proof

Address Proof (either of one) - Utility bill, passport, voter ID, ration card.

Medical Records

Medical Records of the policyholder if requested.

Income Proof

Income Proof (either of one) - bank statement, last three months' salary slips (if you are salaried).

Exclusions of ICICI Pru Assured Savings Plan

  • Suicide within 12 months of the policy purchase is not covered.
  • Consumption of any intoxicants.
  • Death due to any aviation accident.
  • Death due to any adventurous sports.

Other Features of ICICI Assured Savings

Here are the key features of the ICICI Assured Savings.

Plan At a Glance

Key Benefits Limitations
Guaranteed Maturity Benefit No Plan Options
Flexible Policy Term No High sum assured rebate
Guaranteed Death Benefit No Auto cover continuance
Guaranteed Additions No additional riders
Surrender Benefit NA

Conclusion

ICICI Pru Assured Savings Insurance plan offers guaranteed returns and assured life cover. In this plan, you'll get guaranteed benefits on survival, maturity, or death.

For more information related to this plan, you can visit PolicyX.com, or call us at 1800 - 420 - 0269. Our insurance experts listen to your unique needs and suggest the best possible solution for you.

ICICI Assured Savings Insurance Plan: FAQs

The 5 most-asked questions about ICICI Assured Savings, answered.

ICICI Assured Savings Insurance plan is a protection and savings-based life insurance plan with guaranteed benefits.
The surrender value of the ICICI Assured Savings Insurance Plan differs from plan to plan based on policy term or premium paid till surrender. On policy surrender, you will get higher of the following: Guaranteed Surrender Value (GSV) + Surrender Value of Accrued (GAs).
Under this plan, policy surrender is typically allowed after a premium payment of two full years’ premium.
ICICI’s Assured Savings Insurance Plan offers guaranteed savings to help you reach your goals, along with life insurance coverage to protect your family.
ICICI Prudential Life Insurance claims Settlement Ratio for FY 2022-23 is 97.8%, calculated based on claims settled over total claims for the financial year.

Written and reviewed by

PolicyX content is researched in-house and reviewed by an IRDAI-certified insurance specialist before publication.

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