ICICI Prudential
ICICI Pru Savings Suraksha is a combination of savings and protection ...Read More
ICICI Pru Savings Suraksha is a combination of savings and protection plans. It helps you save for future financial goals and provides a financial net to safeguard your loved ones in your absence. The multiple benefits offered are extensive.
A quick read on what this ICICI Prudential term plan covers and why it might be a fit for you.
‘ 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:
A quick honest summary — the strengths and the trade-offs.
Eligibility criteria pulled straight from the policy wording.
Let's understand how the ICICI Pru Savings Suraksha Plan works with a simple premium illustration.
Mr Saurav aged 35, is looking for an investment plan to create long-term wealth for his child.
His financial advisor advised him to buy the ICICI Savings Suraksha Plan. He visited PolicyX.com
Let's understand how the ICICI Savings Suraksha Plan works for him with a premium illustration table.
| Age of policyholder | Annual Premiums | Policy tenure | Sum Assured | Maturity Benefits |
| 35 years | Rs 30,000 | 20 years |
3 lakhs (10 times of annual premium) |
Rs 3,03,336 |
Key Takeaways: At the end of the policy tenure the maturity benefits of Rs 3,03,336 are paid to the policyholder.
There are various benefits to buying the ICICI Pru Savings Suraksha Plan. Let’s understand each of them in detail:
Key features that make ICICI Prudential Savings Suraksha stand out.
Multiple Payments
You can pay the premiums of this plan either through limited pay or 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 the same 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 then 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 the same within five years from the date of the first unpaid premium.
Keep these documents handy when applying for ICICI Prudential Savings Suraksha.
Photo ID Proof
Photo ID Proof (either of one) - Passport, Aadhar card, PAN card, Driving license.
Age Proof
Age Proof (either of one) - Passport, Aadhar card, PAN card, Driving license.
Address Proof
Address Proof (either of one) - Utility bill, passport, voter ID, ration card.
Medical Records
Medical Records of the policyholder if requested.
Income Proof
Income Proof ( either of one) - bank statement, last three months' salary slips (if you are salaried).
You can buy the ICICI Pru Savings Suraksha Plan offline by visiting one of their nearest branch offices. One of their representatives will help you buy the plan.
Here are the key features of the ICICI Prudential Savings Suraksha.
Conclusion
ICICI Pru Savings Suraksha Plan offers you the benefits of a saving plan as well as a family protection plan. If you want to save a lumpsum amount along with a life cover that protects your family financially in case of your uncertain demise then you can buy this plan.
The 5 most-asked questions about ICICI Prudential Savings Suraksha, answered.
PolicyX content is researched in-house and reviewed by an IRDAI-certified insurance specialist before publication.
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