ICICI Prudential Money Back Plans

This is a protection and savings oriented plan offering an assured amount for ten years along with other bonuses and a assured lump sum as a maturity benefit.

Benefits

• The payout tenure begins immediately after the term for premium payment.
• Cash benefit equal to 1 percent of the assured maturity benefit throughout the complete payout tenure of ten years is provided.
• Customers can procure life cover for the entire tenure of policy.
• Insured can pay premiums for either five or seven or ten years.
• In case of untimely death of policyholder, the nominee will receive a maximum of guaranteed maturity benefit along with bonuses if any, minimum death benefit amount and the assured sum along with bonuses, if any.

ICICI Pru Savings Suraksha

, customers have the flexibility to choose an option for the payment of their premium based on their financial convenience. Premiums can either be paid for limited amount of time or for the entire duration of policy.

Benefits

• In case of untimely death of the policyholder, the nominee will be paid the assured sum along with bonuses and assured additions along with assured maturity benefit and accrued benefits and assured additions, if any and the minimum death benefit.
• Customer will also receive a maturity benefit.
• Assured additions that total up to 5 percent of assured maturity benefit every year will accrue during the initial five years of policy, assuming all premiums are paid.

Example

Anil, 35 year old male opted for the Savings Suraksha policy. He chose a premium payment term of ten years and a policy tenure of 20 years. He paid an annual premium of Rs. 50,000. Upon maturity, he received a bonus of Rs. 5,05,561.

Tips

While procuring an , customers need to look into a lot of factors, such as the affordability of the products, its benefits, how suitable the product is to their financial requirements and so on. Other factors that need to be considered are the reputation, the claim settlement ratio of the company, among others. Therefore customers are advised to research and review their options before settling for a suitable one.