Icici Prudential Savings Suraksha vs Lic New Money Back

‘ 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 

The LIC New Money Back Plan 20 Years (Plan No: 920)was floated on January 6, 2014 to cater to the financial needs of the business and the salaried class of Indians. This is a fixed-period non-linked participating plan which protects the policy holder against death besides disbursing a periodic payout upon survival at twenty percent of Sum Assured upon completion of five, ten and fifteen years.

A simple reversionary bonus also accrues upon policy maturity and the plan comes with an add-on accidental death and disability coverage.

LIC New Money Back Plan 20 Years offers you a range of benefits including:

• Death Benefits
• Maturity Benefits
• Participation in Profits

• Policy Revival
• Survival Benefits