What is a Savings Plan?

A savings plan is an essential financial instrument that lets you save for your planned future needs as well as prepare for the unexpected. Savings plans are designed to offer the dual benefit of life cover^{^} and low-risk savings. The life cover^{^} provides financial security to your loved ones in case of an unfortunate event and the savings amount enables you to fulfil your financial goals.

Savings plans offer assured financial growth. These plans are not market-linked and offer guaranteed^` returns without market risk. You get to build large savings over time and cater to your short, medium, and long-term goals. They also provide tax^* benefits as per the prevailing tax laws.

^`T&C apply

Savings Plans Available in India

Below are some savings plans offered by ICICI Prudential Life:

ICICI Pru Sukh Samruddhi

This savings plan provides you with a life cover^{^} and helps you grow your money. The plan offers two choices – Income and Lump Sum.

Income option: You may choose this option if you want to receive a guaranteed^` income for a certain period of time. You may consider this for goals such as your child’s education, annual vacations and more. You can choose to receive this income monthly or yearly, as per your requirements

Lump Sum option: This option provides you with the payout from the plan all at once. You may consider this for goals such as your child’s admission to college, wedding, buying a car and more

The plan offers guaranteed^` amounts that are fixed at the time of purchase of the policy. In addition, the plan provides you with bonuses that add to the overall returns from the plan.

^`T&C apply

You may also avail of the below tax-benefits^* offered by the plan:

• The premiums paid under the policy are allowed as deduction up to ₹ 1.5 lakh per annum under Section 80C of the Income Tax Act, 1961
• The amount received under your policy is exempt subject to conditions prescribed under Section 10(10D) of the Income Tax Act, 1961

ICICI Pru Guaranteed Income For Tomorrow (Long-term)

This savings plan provides you with a life cover^{^} and helps you grow your money. The plan offers two plan options – Income and Income with 110% ROP (Return of Premium).

Income: Under this option, you pay premiums for a certain period of time (known as the premium payment term) and one year after the completion of premium payment term, you get guaranteed^` income at the end of every month/year for a certain period, as chosen by you.

Income with 110% ROP: This option is similar to the Income option. In addition, you will get back 110% of total premiums paid by you at the end of the policy term

The plan offers guaranteed^` amounts that are fixed at the time of purchase of the policy.

^`T&C apply

You may also avail of the below tax-benefits^* offered by the plan:

• The premiums paid under the policy are allowed as deduction up to ₹ 1.5 lakh per annum under Section 80C of the Income Tax Act, 1961
• The amount received under your policy is exempt subject to conditions prescribed under Section 10(10D) of the Income Tax Act, 1961

ICICI Pru Guaranteed Income For Tomorrow

This savings plan provides you with a life cover^{^} and helps you grow your money. This plan provides you guaranteed^` amount in the form of lump sum or regular income, as per your choice. You may also choose to receive the income from the plan starting as early as the year following the purchase of the plan.

^`T&C apply

You may also avail of the below tax-benefits^* offered by the plan:

• The premiums paid under the policy are allowed as deduction up to ₹ 1.5 lakh per annum under Section 80C of the Income Tax Act, 1961
• The amount received under your policy is exempt subject to conditions prescribed under Section 10(10D) of the Income Tax Act, 1961

ICICI Pru Savings Suraksha Endowment Plan

This endowment policy provides you with a life cover^{^} and helps you grow your money. The plan offers guaranteed^{`</sup> amounts that are fixed at the time of purchase of the policy. Additionally, guaranteed<sup>`} additions are added to your policy each year for the first five policy years.

^`T&C apply

You may also avail of the below tax-benefits^* offered by the plan:

• The premiums paid under the policy are allowed as deduction up to ₹ 1.5 lakh per annum under Section 80C of the Income Tax Act, 1961
• The amount received under your policy is exempt subject to conditions prescribed under Section 10(10D) of the Income Tax Act, 1961

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