SRINAGAR: ICICI Prudential Life Insurance Company Limited Thursday launched unit linked plan ICICI Pru Guaranteed Wealth Protector, a company spokesperson said.
“The unit linked plan allows customers to protect their capital on maturity and have a potential for upside through an exposure to equities,” the spokesperson said.
“The product provides for exposure to an equity oriented fund of upto 60 percent for customers aged below 45 years and upto 45 percent for customers above this age limit, while ensuring that premiums paid are protected.”
The spokesperson said loyalty additions of 0.25 percent of the average fund value are added every year after the completion of the 6th policy year. Additionally, Wealth Boosters are added after the completion of the 10th policy year.
“Through ICICI Pru Guaranteed Wealth Protector, we are offering customers the opportunity to optimise their returns without the risk of capital erosion. This insulates the customers’ corpus from any market downturn,” Puneet Nanda, Executive Director of ICICI Prudential Life said.
“We understand that customers are concerned about the volatility of their savings and our approach through this product has been to provide capital protection with a potential for higher returns through equity exposure. We believe that the unique features of this product will facilitate customers achieving their financial goals in a systematic and disciplined manner.”
Life insurance is a long term product and the key is to continue with the product till the end of the policy term, Nanda said. “Our unit linked products have over the last 10 years delivered superior risk adjusted returns to our customers. Unit linked life insurance products are an efficient route to build a corpus while simultaneously providing financial security to the family or dependants.”