ICICI Pru Sukh Samruddhi

Benefits

Sukh Samruddhi offers two different plan options Lump sum and Income. There are many benefits to the Sukh Samruddhi Plan, including

The plan offers guaranteed income for a specified period of time. This can be a valuable source of income for people who are plan to achieve long-term financial goal eg: Higher education of children, marriage, or pension for your retirement life etc.

You have the option to receive income on any date of your choice with ‘Save the Date’ eg: your birthday.

Another option is to accumulate income and withdraw it later as per your convenience with ‘Savings Wallet’.

This can provide peace of mind knowing that your family will be taken care of in the event of your untimely demise.

This means that you can save tax on your premiums and your returns are also tax-free.

Questions and Answers

Sukh Samruddhi plan : Common Questions and Answers.

ICICI Prudential Sukh Samruddhi offers two different plan options. You can choose any one of the following at inception. Lump sum: Provides a lump sum on maturity along with protection through life cover throughout the policy term. Income: Provides a regular Guaranteed Income (GI) immediately after premium payment term along with a lump sum on maturity. Also, get protection through life cover throughout the policy term

For Income plan option, maturity benefit comprises of Accrued Reversionary Bonus (if any), Terminal Bonus (if any) and the last installment of Guaranteed Income (GI)

For lump sum plan option, maturity benefit comprises of Sum Assured on maturity, Accrued Reversionary Bonus (if any) and Terminal Bonus (if any)

With ‘Save the date’, you have the option to receive Guaranteed Income (GI) on any one date, succeeding the due date of first Income pay-out, to coincide with any special date like birth date or anniversary date.

This option is available only if you have chosen annual mode of Income payout. It needs to be selected at Policy inception and can be changed any time before the completion of premium payment term.

With ‘Savings Wallet’, you get the flexibility to accumulate Guaranteed Income (GIs), instead of taking them as payment during the policy term. The GIs will be accumulated daily at an interest rate equal to Reverse Repo Rate published by RBI.

You also have an option to withdraw, completely or partially, the accumulated GIs anytime during the Income Term. In case the accumulated GIs are not withdrawn completely during the policy term, the accumulated GIs will be paid to the Claimant in the event of death, maturity or surrender, whichever is earlier along with other benefit payments (if any), and the policy will terminate.

This option to accumulate GIs is available only for Income Plan, and can be availed for both in-force as well as paid-up policies. You can choose to start or stop this feature multiple times during the policy term.

You have to choose the date selected under ‘Save the date’ at policy inception but it can be changed any time before the completion of the Premium Payment Term.

Yes, you can change the premium payment frequency during the premium payment term which will be effective only from the next policy anniversary.

No. ‘Save the date’ and ‘Savings Wallet’ features can be selected/availed only with ‘Income’ plan option available under ICICI Pru Sukh Samruddhi.

You have the option of taking loan up to 80% of the Surrender Value against the policy to help you in case of any financial emergencies.

0 is the minimum age and 60 is the maximum age for buying this plan.