ICICI Pru Assured Savings Insurance Plan is a non-linked non-participating plan which gives you guaranteed savings benefits to meet your non-negotiable goals. It also provides you with life insurance cover to take care of your family in case of your unfortunate demise.
Rs. 2,00,000 p.a. for Yearly and Half-yearly premium payment mode
Rs. 3,00,000 p.a. for Monthly premium payment mode
Modes of Premium PaymentYearly, Half-yearly and Monthly
Premium Payment TermSame as policy term
Policy Term
Age at entry
Policy Term
0 years to 43 years
10 years to 30 years
44 years to 55 years
10 years to 20 years
56 years and above
10 years
Sum Assured
Age at entry
Minimum Sum Assured
Maximum Sum Assured
0 to 44 years
Higher of (10 X Annual Premium) and (0.5 X Policy Term X Annual Premium)
As per maximum Sum Assured multiples*
45 years and above
Higher of (7 X Annual Premium) and (0.25 X Policy term X Annual Premium)
*Maximum Sum Assured multiple depends on age. For example for age 18 maximum multiple is 40, for age 69 maximum multiple is 7.
Min age at entry0 years
Max age at entry69 years
Min age at maturity18 years
Max age at maturity79 years
Tax Benefits Premium and any benefit amount received under this policy will be eligible for tax benefit as per the prevailing Income Tax laws.
Key Benefits of ICICI Pru Assured Savings Insurance Plan
Guaranteed Additions: Every year either 9% or 10% of total premiums paid will be added to your policy benefits depending on your policy term.
Guaranteed Maturity Benefit (GMB): A guaranteed lump sum payable at the end of the policy term.
Flexibility: Choose premium payment term and policy term as per your need.
Protection: Get life cover for the entire policy term.
Tax benefits: Tax benefits apply to premiums paid and benefits received as per the prevailing tax laws.
Benefits in detail:
Maturity Benefit: On maturity, the following benefit will be payable, provided all due premiums have been paid:
Maturity Benefit = Accrued Guaranteed Additions + Guaranteed Maturity Benefit (GMB)
Guaranteed Additions (GA): GAs will be added to the policy at the end of every policy year if all due premiums have been paid. Each GA is equal to Guaranteed Addition rate multiplied with the sum of premiums paid till date. GA rate depends on policy term as below.
Term
Guaranteed Addition rate
10 years
9%
12 years
10%
Guaranteed Maturity Benefit: Your GMB will be set at policy inception and will depend on policy term, premium, premium payment term, age and gender.
Death Benefit: Death Benefit will be payable on death of the life assured during the policy term, for a premium paying or fully paid policy.
Death Benefit is equal to A or B or C, whichever is highest.
Where,
A = Sum Assured plus accrued Guaranteed Additions
B = GMB plus accrued Guaranteed Additions
C = Minimum Death Benefit
Minimum Death Benefit is equal to 105% of sum of premiums paid till date (excluding extra mortality premiums, service tax and cesses, if any) or 10 times the annual base premium or the chosen Sum Assured (which in this case is 10 times the annual base premium) whichever is highest.
How does the plan work?
1. At policy inception, you choose your premium, premium payment term, policy term and premium payment mode.
2. You pay premiums towards the policy as per the chosen premium payment term.
3. You will enjoy a life cover throughout the policy term.
4. At maturity, you will receive a guaranteed lump-sum amount.
We offer several options for you to buy as per your convenience. Choose from one of the following:
