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  • ICICI Pru Sarv Jana Suraksha Plan

     This is a micro insurance plan from ICICI Prudential life that is aimed at the rural populace so as to protect their families are protected against eventualities in case the something unfortunate happened to the policyholders. The policy provides complete security while also being affordable so that the total populace can capitalize on life protection through low-cost products.

    Eligibility of ICICI Pru Sarv Jana Suraksha

    • Minimum age at entry: 18 years
    • Maximum age at entry: 55 years
    • Maximum age at maturity: 60 years

    Features of ICICI Pru Sarv Jana Suraksha

    This term plan comes with various features including:

    • Policy term: Fixed policy term of 5 years.
    • Premium payment frequency: Yearly.
    • Premium payment option: Regular
    • Sum Assured: Rs.5,000-Rs.50,000.
    • Grace period: There is a grace period of 30 days to make premium payment once the due date has passed.
    • Free look period: Customers are given a 15 days free look period for non-distance marketing policy purchases and 30 days for distance marketing policy purchases, during which period the policyholder may surrender the policy and get refunds subject to deductions.

    Benefits of ICICI Pru Sarv Jana Suraksha

    There are several benefits associated with this policy, such as:

    • Death benefits: Death benefits are paid out on death of the life assured during policy term. The Sum Assured is paid out as death benefit and the policy will terminate.
    • Riders: You have the option to enhance the protection using riders which are offered subject to prior approval from the regulator.
    • Tax benefits: Tax benefits applicable on premium payments as per relevant sections of the Income Tax Act, 1961.


    Suppose Mr Gupta has opted for Sarv Jana Suraksha Plan with a tenure of 5 years and Sum Assured of Rs.50,000. To this end, he is paying an annual premium of Rs.500 (plus taxes). He unfortunately expires in the 2nd policy year. In this case, his nominees will receive Rs.50,000 as lump sum benefits and the policy will cease to exist.


    1. Will I get surrender value if I surrender the policy in the 4th year?

      No, surrender values are not provided at any point in the policy tenure.

    2. Can I apply for loans against this cover?

      No, you cannot apply for loans against Sarv Jana Suraksha policy.

    3. What are the maturity benefits associated with this policy?

      There are no maturity benefits associated with the policy. The plan will cease to exist on the life assured’s survival at the date of maturity.

    4. What if I missed a premium payment?

      In case you missed any of the annual premium dates, you will be given a grace period of 30 days to pay the premium plus interests. If the payments are not made in the next 30 days also then the policy will expire.

    GST of 18% is applicable on life insurance effective from the 1st of July, 2017

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