ICICI Pru Savings Suraksha is a protection and savings oriented plan. It offers flexible premium payment options according to customer needs. Under this plan, two variants are offered – limited pay and regular pay.
Eligibility:
Entry Age | 0-60 years |
Maturity Age | 18- 70 years |
Policy Term (in years) | 10-30 years |
Premium Paying Term | 5,7,10,12 or equal to the policy term |
Premium Paying Mode | Annual, Half-yearly, monthly |
Minimum Yearly Premium | Rs.12,000 |
Sum Assured | 7 or 10 times annual premium depending on age |
**Last Updated on 14-12-2020
The values may change as per the chosen plan option.
Considering the customer needs, ICICI Pru Savings Suraksha offers several useful features. Let's have a look at it.
Where,
A= 80 % of total premiums paid until death.
B= surrender value available until the death.
What are the benefits of the ICICI Pru Savings Suraksha plan?
ICICI Pru Savings Suraksha comes with a long list of benefits. Some of the important ones are listed below for your convenience.
Death benefit= high of A, B, or C
A= Sum assured on death plus accrued guaranteed additions and bonuses.
B= GMB Plus accrued Guaranteed Additions and Bonuses.
C= Minimum death benefit
The minimum death benefit is equal to 105% of the total premiums paid until death.
Once the death benefit is paid, all policy benefits will cease.
Maturity benefit= guaranteed maturity benefit + accrued guaranteed additions + vested reversionary bonuses (if any)+ terminal bonus (if any)
Sanju is a software engineer and he has so many financial goals. To achieve those goals, he invested in the ICICI Pru Savings Suraksha plan. He chooses a premium payment term of 5 years, the policy term as 30 years, and the payment mode is monthly. His total monthly premium is Rs.5000, and the sum assured is Rs. 6,00,000. He will get Rs.6 lakh life cover for 30 years.
Let's look at the below table for a benefits summary
| At 4% | At 8% |
Total guaranteed maturity benefit | 480,615 | 480,615 |
Guaranteed maturity benefit | 384,492 | 384,492 |
Guaranteed additions | 96,123 | 96,123 |
Estimated accumulated reversionary bonus | 0 | 422,007 |
Estimated terminal bonus | 158,051 | 699,272 |
Estimated total maturity amount | 638,666 | 1,601,894 |
**Last Updated on 14-12-2020
ICICI Prudential offers an easy and simple buying process for its customers. Let's know more about it.
You can also buy the plan from PolicyX.com; the buying process is quick and straightforward. Let's have a look.
The customers can get a claim settlement with a few basic steps.
Contact Adress- ICICI Pru Life Towers, 1089 Appasaheb Marathe Marg, Prabhadevi, Mumbai 400025.
Contact number- 1860 266 7766
1. What happens if I don't pay the premiums at all?
If you stop paying the premiums before the plan acquires a surrender value, the plan will lapse and no benefits will be paid.
2. Is it safe to purchase ICICI Pru Savings Suraksha online?
Yes, it is. Both the platforms (ICICI and PolicyX.com) have strict privacy policies and a secure payment platform to offer ease to its customers.
3. Is it possible to change my nominee in the middle of the policy?
Yes, can you change your nominee, but only as per the company's TNCs.
Last updated on 14-12-2020