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Why Should You Invest In ICICI Pru Savings Suraksha Endowment Policy?

The ICICI Pru Savings Suraksha plan is an excellent way to save and safeguard your funds. You can choose a premium payment plan that best meets your needs with ICICI Pru Savings Suraksha. Premiums might be paid for a set period of time or for the duration of the policy. 

Why Should You Invest In ICICI Pru Savings Suraksha Endowment Policy?

Features of ICICI Pru Savings Suraksha Endowment Policy

  • The policy duration can range from 10 to 30 years, with the premium payment period being 5, 7, 10, 12 years or equal to the policy term, depending on whether you pick regular or limited pay.
  • While the minimum premium is Rs 12,000, the maximum premium is unlimited.
  • The highest sum assured is ten times the annual premium, whereas the minimum sum assured is seven times the annual premium.
  • The policy has a variable premium payment term. 
    Let's look at some of the plan's most important elements so you can better grasp them.

Why Should You Invest In The ICICI Pru Savings Suraksha Endowment Policy?

Before purchasing an insurance policy, it is vital to investigate every detail. Examine all of the advantages of an insurance plan so that you can make the most of it. The benefits are as follows:
1. Policy-Based Loans
You can obtain a loan against your policy if it has developed a surrender value. The maximum loan amount will be 80% of the surrender value, plus applicable interest. The loan benefit of this policy can help you deal with any emergencies that arise throughout the policy's term.
2. Free Look Period
If you are not pleased with this insurance, you have 30 days to return it. If you acquire the policy through the ICICI Prudential Branch, you will enjoy a 15-day free-look period. You will have a 30-day free-look period if you bought the policy through distance marketing. If you don't like the insurance after the free-look period, you can return it.
3. Surrender Benefits
You can surrender the policy in the ICICI Pru Savings Suraksha plan if you have an emergency. You can take the money after the corporation calculates the surrender value. However, there is a stipulation that must be met in order to take advantage of the surrender benefit. You must pay all of this policy's premiums for two years in a row without missing a single one.
4. Guaranteed Additions
Every year, the corporation will contribute 5% to the Guaranteed Maturity Benefit. This advantage will only be available for five years and will help you save more money. At maturity, you'll obtain assured cash additions.
5. Maturity Benefit
If the insurance matures, the policyholder will get the accumulated amount, which includes the guaranteed maturity benefit, guaranteed bonuses, and terminal bonus (if any).
6. Death Benefit 
The sum assured, plus any accrued bonus (if any), will be paid to the nominee in the event that the life assured dies.
7. Loan Benefit
A loan against the policy can be obtained only when the policy has attained a surrender value, that is after the policy has been in force for at least one year and all premiums have been paid on time.

Conclusion

Some people desire to save money for the future, but they can't seem to find the right instruments to do so. ICICI Pru Savings Suraksha Plan may be a good option for these people. This plan offers maturity benefits as well as Guaranteed Additions to help you save more money. You can put the money you've saved towards your goals. The premiums for this endowment plan, on the other hand, can be paid in a variety of ways. 

Also read: Is It Necessary To Have An Endowment Policy?

Find Out Who Should Buy An Endowment Policy

Disclaimer

This article is issued in the general public interest and meant for general information purposes only. Readers are advised not to rely on the contents of the article as conclusive in nature and should research further or consult an expert in this regard.

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