ICICI Pru Savings Suraksha

All of us need a sound financial plan to achieve our goals in life: buying a house, securing our children's education, going on a dream vacation and living comfortably after retirement. If you are looking for such a solution, ICICI Pru Savings Suraksha is an ideal savings and protection oriented plan for you.

ICICI Pru Savings Suraksha gives you the flexibility to choose a premium payment option based on your needs. You can pay premiums for a limited period or for the entire policy term

KEY BENEFITS

Death Benefit

On death of the life assured during the policy term, for a premium paying or fully paid policy, the following will be payable:

Death Benefit = Maximum (A, B, C)

Where,

A = Sum Assured plus accrued Guaranteed Additions and Bonuses*

B = GMB plus accrued Guaranteed Additions and Bonuses*

C = Minimum Death Benefit

*Bonuses consist of vested reversionary bonuses, interim bonus and terminal bonus, if any.

Minimum Death Benefit is equal to 105% of sum of premiums paid till date (excluding extra mortality premiums, service tax and cesses, if any). All policy benefits cease on payment of the death benefit.

Maturity Benefit

On survival of the life assured till the end of the policy term for a policy on which all due premiums are paid, the following will be payable:
Maturity Benefit = Guaranteed Maturity Benefit (GMB) + accrued Guaranteed Additions + vested reversionary bonuses, if any + terminal bonus, if any.

Your GMB will be set at policy inception and will depend on policy term, premium, premium payment term, Sum Assured and gender. Your GMB may be lower than your Sum Assured.

For example: For a male life aged 35 years, with a PPT of 10 years, policy term of 20 years, premium of Rs. 50,000 paid annually the GMB is Rs. 5,05,561. An illustration of the total benefits that you can receive is shown in the benefit illustration.

GMB is the Sum Assured on maturity. Maturity Benefit for a policy on which all due premiums are paid shall be at least equal to the total premiums (excluding any extra mortality premium, service tax) paid by the policyholder.

Guaranteed Additions (GAs) totaling 5% of GMB each year will accrue during the first five policy years if all due premiums are paid. GAs accrue on payment of due premium.

Reversionary bonus, if any, will be declared each year during the term of the policy starting from the first policy year.

HOW IT WORKS

At policy inception, you choose your premium, premium payment term, policy term, premium payment mode and Sum Assured.

Your GMB is calculated using the above mentioned parameters along with your age and gender.

In the unfortunate event of death of the life assured during the policy term, death benefit is payable to the nominee.

On survival of the life assured till the end of the policy term, Guaranteed Maturity Benefit (GMB) is payable along with Guaranteed Additions (GA), vested reversionary bonuses (RB) plus terminal bonus , if any.

AT A GLANCE

Details

Limited Pay

Regular Pay

Premium payment term (years)	5	7	10	12
Policy term ( years)	10 to 30	12 to 30	15 to 30	17 to 30
Minimum annual premium (Rs.)	30,000	18,000	12,000	12,000
GMB* for: minimum entry age, minimum annual premium, minimum term, annual premium payment mode (Rs.)	125,359	109,897	108,059	134,048
Min / Max age at entry	0 / 60 years
Min / Max age at maturity	18 / 70 years
Premium paying mode	Annual / Half-yearly / Monthly