ICICI Prudential has a new offering for customers looking for a Guaranteed Savings Insurance Plan. The newly launched endowment plan is a long-term savings policy that offers guaranteed maturity benefits.
The guaranteed maturity benefit will be a total of all the premiums paid along with guaranteed regular additions and maturity additions.
Guaranteed Savings Insurance Plan can be availed by all individuals less than 60 years of age. No medical tests are required and the minimum annual premium is Rs. 12,000 for a 10-year premium payment term and Rs. 18,000 for a 7-year premium payment term.
In case of death during the term of the policy, a guaranteed death benefit comprising all the premiums at a compounded rate of 5% is paid to the family or the nominee.
Read our detailed expert review of ICICI Prudential – Guaranteed Savings Insurance Plan.
ICICI Prudential, a joint venture between ICICI Bank and Prudential plc, is amongst the first private sector insurers to have started operations in India. The insurer caters to a mass audience with diverse products in the life insurance segment.
Apart from the new Guaranteed Savings Insurance Plan, ICICI Prudential also has a variety of Term insurance plans, Child plans, Retirement plans, Health Insurance Plans, Money back plans, and Unit-linked plans (Ulips) to cater to the Indian audience.
