ICICI Prudential GSIP is a traditional plan with limited premium pay option and bonus facility; The plan Offers Guaranteed Maturity Benefit. Can you tell me what kind of compounded anuualised returns I can expect from GSIP of ICICI Pru Life? I was made to purchase this policy by. I had taken three plans of “ICICI Pru Guaranteed Savings Insurance Plan” with a premium of 18k, .. I have also Taken GSIP during Feb,
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It really depends on the product you choose, but there are options that can give you a pension for a lifetime. We regret the inconvenience caused. I would like to draw an analogy of this scheme to the PPF.
ICICI Pru Guaranteed Savings insurance Plan
To proceed, help us with some basic details. I believe to get the benefit out of this policy, the policy holder has to survive till the maturity term 7 or 10 years. The same calculator shows that I will get about Rs. Thanks for the analysis Manshu and to others who have replied to this post. But after gzip the blogs in JagoInvestor, I came to know that returns will be very low.
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They will never give that assurance you in writting. The non-guaranteed surrender value will be calculated as the present value of the PUSA, discounted at the GRY at the Review Date immediately preceding the date of surrender plus 2 percent per annum.
For more advice, you can indicate your interest and give your E mail in the blog. Leave a Reply Cancel reply Your email address will not gsil published.
Single premium in Rs. The maturity bennefit amount is dependent on the wish of the company.
I am feeling being cheated here but not finding a way ahead. I find that the easiest way to explain how this plan works is to take an example of one option with certain figures and go through it. Minimum Annual Premium Amount.
ICICI Pru Guaranteed Savings Insurance Plan
Income earning person with no dependents: Gsp you have more than 1L put it more. I have paid the first payment of Rs. You have ban to surrender your policy. Choice rests with you. The guaranteed surrender value is equal to thirty five percent of the premiums paid, excluding a the premiums paid for the first policy year and b all extra premiums paid, if any, under this Policy.
I took one policy but latter i thought nothing is good in this. He then said that w. Your email address will not be published.
ICICI Guaranteed Savings Insurance Plan Review – OneMint
Manshu, I really appreciate your opinion in this regards. Leave a Reply Cancel reply Your email address will sgip be published. Manshu, You have provided a very informative analysis. And if got then what amount I will gsi home after 7 years?
Then to calculate the surrender value — you have to see the higher of the two: Alternatively, you may also post your concern along with your policy details on https: I am still continuing it. Agent explained and showed me the following calculation if I deposited 50 K per year. I have downloaded the form jcici now my question isshall I gsop the form with all relevant document by post at their office at Mumbai or I have to personally visit the branch for the same?
Can you elaborate here whether or idici it is factually correct that policy will lapse even incase of premiums being made for three policy years.
Thanks — I can add that to my list of things to be done thought it will take some time since I already have over 18 drafts in there. I would rather pay Rs. The Review Date shall be the 7th of the first month of every quarter. Lcici will be much better off doing these two compared to GSIP. In regards to your concern pertaining to the surrender, please note that the iclci will acquire a surrender value on payment of premium for at least 3 policy years.
August 16, at 2: Or Shall I pay or 3rd Year premium and they ask for closure o this policy? I know you might feel I am unrealisticbut its equally your mistake to not understand where you are putting up your money. The agents assured me that the returns that I would get from the policy will be much higher than a PPF.
You may ask Insurance company bout how to surrender your policy. No cash back plan is good for investment. Tax benefits under the policy will be as per the prevailing Income Tax laws. I was super frustrated having caught up in this trap.
You will get much less than this. Nor is it clearly mentioned in the policy document as to how they are able to arrive at the figure. I believe it is big risk to take up this policy. You can choose a term plan of any reputed Co.
Now, the next and slightly trickier part — how much money do you get back?