Icici Prudential Savings Suraksha vs Sbi Life New Smart Samriddhi

‘ 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 

SBI Life Smart Samridhhi Plan is a fusion of an insurance plan as well as a savings plan. This SBI plan offers you life coverage throughout the policy tenure along with maturity benefits which range from 143% to 229% of annual premiums in exchange for limited-term premium pay. Along with dual benefits it also offers you guaranteed additions annually based on your premium payments. These benefits ultimately increase your maturity payment or life cover.

For premiums less than Rs 30,000, the guaranteed benefits rate is 5.5% while for premiums greater than Rs 30,000, the rate is 6%. You can purchase this plan without a medical test. This plan is an ideal choice if you are looking for a life cover along with a guaranteed lump sum to meet your financial obligations.

SBI Life New Smart Samriddhi 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.

SBI Life New Smart Samriddhi Plan offers you a range of benefits including:

• Coverage through policy tenure
• Tax Benefits
• Maturity Benefits 

• Grace period 
• Guaranteed additions
• Death benefits