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.Read more
Save Upto ₹46,800 in tax under Sec 80C
Inbuilt Life Cover
Tax Free Returns Unlike FD
*All savings are provided by the insurer as per the IRDAI approved insurance plan. Standard T&C Apply
Let’s take a look at the eligibility criteria of the policy.
|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|
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.
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.
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.
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.
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
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:
*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.
To buy ICICI Pru Assured Savings policy, you must have all or one of each of the points enlisted below:
You cannot buy ICICI Pru Assured Savings online by visiting the official website of ICICI Prudential. To purchase this plan, people have to:
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.
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