Icici Prudential Savings Suraksha vs Lic Jeevan Shagun

‘ A combination of savings and protection plan’.

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 you numerous benefits including guaranteed additions, terminal and revisionary bonuses if declared, death benefits, surrender benefits, maturity benefits on survival, etc. This investment plan offers you 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 savings plan life insurance plan. We will read the plan in detail in the section below for more clarity and better understanding.

ICICI Savings Suraksha Plan offers you a range of benefits including:

• Guaranteed Benefits
• Tax Benefits
• Flexibility

• Multiple payment options
• Policy revival 
• Surrender value 

LIC Jeevan Shagun is a non-linked, participating, savings with protection single premium Money-Back plan. The policy provides high life cover in the event of the miserable death of the policyholder where the single premium paid depends on the maturity sum assured opted by the insured. On surviving till the end of a certain period and on the maturity date, a percentage of the Maturity Sum Assured is paid by LIC.

The plan was launched on 1st September, 2014 for a period of 90 days as it is a close-ended plan so one can fulfill any immediate service requirement. For new buyers looking to buy a similar LIC one time investment plan, you will find comparisons with other plans currently offered by LIC.

The single premium paid for the plan ranges accordingly on the basis of various factors like the policy term, the insured person’s age, the sum assured chosen, etc. After purchasing the policy, tax benefits are also applicable to the plan.

LIC Jeevan Shagun Plan offers you a range of benefits including:

• Death Benefits
• Survival Benefits
• Loyalty Additions

• Policy Revival
• Loan Facility