ICICI Prudential Savings Suraksha

Overview

ICICI Pru Savings Suraksha is a financial plan that helps you save for future financial goals and provides a financial net to safeguard your loved ones in your absence. It is an ideal choice if you want to collect a lump sum to fulfill your financial goals and protect your family members even in your absence.

This plan offers numerous benefits including guaranteed additions, terminal and revisionary bonuses (if declared), death benefits, surrender benefits, and maturity benefits on survival. This investment plan offers two options to pay premiums: limited pay (5, 7, 10, or 12 years) and regular pay (for 10 to 30 years). You can also get a loan on your policy if you have paid regular premiums for a minimum of two years. The sum assured paid on the uncertain demise of the policyholder usually ranges from 7 to 10 times the annual premiums paid.

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

Key Benefits of ICICI Pru Savings Suraksha Plan

• Guaranteed Benefits
• Tax Benefits
• Flexibility
• Multiple Payment Options
• Policy Revival
• Surrender Value

Key Features

The ICICI Pru Savings Suraksha plan offers the following key features:

• Multiple Payment Options: You can pay the premiums of this plan either through limited pay or on a regular basis. In limited payment, pay premiums for 5, 7, 10, or 12 years. While in regular pay, you have to pay premiums during the entire policy tenure.
• Free-Look Period: If you are not satisfied with the terms and conditions of the policy, you can return it to the company within 15 days of policy purchase after stating the reason for cancellation.
• Grace Period: If by any chance you miss the premium payment, you can pay the same within the grace period. For monthly premium payments, a 15-day grace period is provided, and for any other frequency, a 30-day grace period is provided.
• Policy Revival: In case your policy is lapsed or terminated due to non-payment of premiums, you can revive it within five years from the date of the first unpaid premium.

Benefits of ICICI Pru Savings Suraksha

There are various benefits to buying the ICICI Pru Savings Suraksha Plan. Let’s understand each of them in detail:

• Death Benefits: In case of your demise during the policy tenure, your loved ones will receive death benefits to secure your family’s financial future even in your absence.
• Guaranteed Additions: This policy offers guaranteed additions every year, which increases the total maturity benefits paid at the end of the policy tenure.
• Bonuses (If Declared): This policy may also attract various types of bonuses such as revisionary bonuses or terminal bonuses. These bonuses are not guaranteed and are paid only when declared by the company.
• Maturity Benefits: At the end of the 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.
• Policy Loan: You can avail of a loan against your policy. The loan amount is a maximum of 80% of the surrender value. Interest on the loan amount must be paid as per the set interest rates.

How to Buy ICICI Pru Savings Suraksha from PolicyX.com

1. Visit the official website of PolicyX.com.
2. Click on the 'Investment' tab.
3. A new page will appear on the screen.
4. Fill out the form at the top of the page with the necessary details.
5. Select your income and city. Click on 'Proceed'.
6. Update your education and occupation details.
7. Choose your preferred plan and click on 'Buy this plan'.
8. Select the policy term, premium period, investment amount, and riders (if required), and then proceed to pay.

How to Buy ICICI Pru Savings Suraksha from ICICI Life Insurance

1. Visit the official website of ICICI Life Insurance.
2. Hover over the 'Investment Plans' from the top of the menu.
3. Click on the 'ICICI Pru Savings Suraksha'.
4. Click on ‘Buy Now’ and you will be redirected to a new page.
5. Enter your name and contact information. One of their representatives will reach out to you and discuss the quotes.
6. Once discussed, you can make the premium payment and get the policy documents.

Exclusions

• If the policyholder commits suicide within 12 months of policy purchase, no death benefits are offered to their family members. In such a case, either 80% of the premiums paid to date or the surrender value acquired to date, whichever is higher, is paid.

Documents Required to Buy ICICI Pru Savings Suraksha

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

• Photo ID Proof: Any one of the following: Passport, Aadhaar card, PAN card, Driving Licence.
• Age Proof: Any one of the following: Passport, Aadhaar card, PAN card, Driving Licence.
• Address Proof: Any one of the following: Utility Bill, Passport, Voter ID, Ration Card.
• Medical Records: Medical records of the policyholder (if requested).
• Income Proof: Any one of the following: Bank Statement, last three months' salary slips (for salaried individuals).

Conclusion

ICICI Pru Savings Suraksha Plan offers the benefits of both a savings plan and a family protection plan. If you want to save a lump sum amount along with a life cover that protects your family financially in case of your uncertain demise, then you can buy this plan.

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.