ICICI Pru Assured Savings

Eligibility Criteria of ICICI Pru Assured Savings Plan

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

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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.

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