ICICI Prudential Life Insurance launches new product to boost investment & saving process

ICICI Prudential Life Insurance informed today that it has launched a new savings product with the name, ‘ICICI Pru Guaranteed Income for Tomorrow’.   

This product aims to provide guaranteed income to policyholders in order to help them achieve their long-term financial goals. This is qualified as a non-participating savings product and enables the customers to eliminate or reduce future uncertainty to a large extent. Opting for this can be an essential decision for a robust financial plan.  

The three variants of this plan can be described as:  

1) The policyholder has an option to receive the maturity benefit in the form of guaranteed income for a period of 5, 7, or 10 years. 

2) There is a feature that enables customers to start receiving income from the second year of the policy, known as Guaranteed Early Income.  

3) The last variant is that the customers need to pay the premium only once i.e. at the time of purchase and also, choose the policy tenure; after which, they can get the guaranteed lumpsum benefit.  

Besides, the company's 'Save the Date' aspect enables customers to plan milestones in their life and receive income on special dates such as their wedding anniversary, the birthday of their spouse, etc.  

ICICI Prudential Life Insurance Company Limited is a joint venture between ICICI Bank Limited and Prudential Corporation Holdings Limited. The company is in the business of providing life insurance, pensions, and health insurance to individuals & groups. 

On Tuesday, the share of ICICI Prudential was trading at Rs 480.10, up by 0.74 per cent at 12.22 pm on BSE.