ICICI Pru Assured Savings

Endowment policies help to protect the family and also give assured returns upon maturity. Traditional insurance plans have always been on demand, and one such well-performing policy is ICICI Pru Assured Savings Insurance Policy. It is backed by the robust financial framework of ICICI Prudential, which gives purchasers the guarantee of assured returns. The policyholder can enjoy guaranteed additions of 9% to 10% accrued on a yearly basis upon the cumulative premium amount, and this comes in addition to the guaranteed returns promised upon maturity of the policy. 

Eligibility Criteria of ICICI Pru Assured Savings Plan

Let’s take a look at the eligibility criteria of the policy.

Parameters  Details 
Policy Tenure 10,12 and 15 years 
Premium Paying Term 5,7, 10  (years)
Premium Paying Mode Monthly, Half-yearly and Annually 
Entry Age Min - 8 – Max - 60 years (10-year policy term/5 year payment term) Min - 3- Max - 57 years (15 year policy term/ 5 year payment term)
Maturity Age 18-72 years 
Grace Period 30 Days (15 Days For Monthly Mode)
Maximum Annual Premium   Rs.1,00,000
Liquidity Loans are available under this policy

Benefits of the ICICI Pru Assured Savings Policy

  1. Maturity Benefit

     The policyholder receives a lump sum amount upon maturity of the ICICI Pru Assured Savings Policy. In this case, it is ten times the annualized premiums along with 9% (10 years policy term) or 10% (15 years policy term) guaranteed additions to the returns. Guaranteed Maturity Benefit is provided on the basis of the age, policy term, and sum assured.  

  2. Death Benefit

    Death benefit received by the family of the life assured is 105% of the total premiums paid till the time of death. The family member or beneficiary also receives 10 times the annual base premium and the chosen sum assured as selected by the policyholder at the time of opening of the policy. The policy then gets terminated upon release of these benefits.

  3. Personal Loan Benefit

    The policyholder can be granted a loan of up to 80% of the policy's surrender value. The calculated rate of interest on loan amount is 7.25%, as recorded in July 2020.

  4. Surrender Value Benefit

    Once your policy acquires a surrender value after the timely payment of all premiums for the first two years, you can request for premature withdrawal of the policy at any time and will be granted benefits on the basis of the surrender value.   

  5. Tax Benefits

    The returns received through the ICICI Pru Assured Savings  Plan are eligible for tax benefits under the country's prevailing income tax rules like Section 10(10D) and Sec 80 C of the Income Tax Act, 1961. 

 * Tax benefit is subject to changes in tax laws

Premiums for ICICI Pru Assured Savings Insurance Policy

The ICICI Pru Savings Suraksha premium is a regular pay traditional insurance policy that provides financial protection to your family and a host of guaranteed benefits. 

For the regular pay option, the minimum premium amount would be:

  • *Rs 40,000/- p.a for the policy term of 10 years 
  • *Rs 50,000/- p.a for the policy term of 15 years

*Standard T&C Apply

The ICICI Pru Assured Saving Calculator is available on the official website. If interested, for further details, use the calculator and submit your details on the online ICICI Pru Assured Savings website for a representative to get back in touch with you over SMS, Whatsapp, and email.  

Documents Required to Buy this Plan?

To buy ICICI Pru Assured Savings policy, you must have all or one of each of the points enlisted below:

  • Identity proof – passport, Aadhar card, or voter's card
  • Address proof - driving license, Aadhar card, electricity bill, voter's card, ration card,  or passport
  • Income proof - salary slips or Income tax returns

How to Buy This Plan Online?

You cannot buy ICICI Pru Assured Savings online by visiting the official website of ICICI Prudential. To purchase this plan, people have to:

  • Visit the official website of ICICI Prudential and select the ICICI Pru Assured Savings plan. 
  • Personal details like Name, Age, Sex, Mobile Number, and Email ID should be submitted using the Get Quote button. 
  • Once the quote has been shared, the representative of ICICI Prudential will get in touch with you with further details like riders or rebates. 
  • You have to discuss in detail with them and then close in on the policy term that serves your needs the best. 
  • You should receive activated policy documents within 7 working days of payment confirmation. 
  • You can enjoy a free look period of 30 days from receiving the documents and can decide in the meantime whether you want to cancel the policy. 

Exclusions of ICICI Pru Assured Savings Policy

ICICI Pru Assured Savings reviews found online suggest that it is one of India's most successful and popular traditional insurance plans. The Suicide clause provided as an exclusion grants a lump-sum payment of 80% of the premiums paid till death or the policy's surrender value as recorded till death, whichever is higher.

FAQ's

Disclaimer: Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by an insurer.
Average Rating
(Based on 0 Reviews)
Newsletter
Sign up for newsletter
Sign up our newsletter and get email about health plans.
Close
Download the Policybazaar app
to manage all your insurance needs.
INSTALL