ICICI Prudential Money Back Plans

Procuring insurance is one of the most important things to take off of that financial to-do list. Having a safety blanket on a person’s finances is highly imperative especially in today’s times of financial uncertainty. No matter how old a person gets, having money is one of the most important necessities as without money, the basic necessities cannot be procured. Availing an insurance can be daunting due to the sheer number of choices, however ICICI has some of the best choices for those looking to avail life insurance covers.

Why ICICI Prudential?

A joint venture between Prudential plc which is a leading financial group and ICICI Bank Ltd,. which is the largest bank in India in the private sector, ICICI Prudential life is one of the first insurance companies in the private sector. It comes with the reputation of both companies and an excellent record. A number of services are offered with many types of insurance products to suit every customer’s requirements.

  1. ICICI Pru Cash Advantage

    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.


    1. The payout tenure begins immediately after the term for premium payment.
    2. Cash benefit equal to 1 percent of the assured maturity benefit throughout the complete payout tenure of ten years is provided.
    3. Customers can procure life cover for the entire tenure of policy.
    4. Insured can pay premiums for either five or seven or ten years.
    5. 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.
  2. 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.


    1. 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.
    2. Customer will also receive a maturity benefit.
    3. 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.


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.


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.

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

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