ICICI Prudential Life Insurance has launched a new non-participating savings product ‘ICICI Pru Guaranteed Income for Tomorrow (Long-term)’. This product provides customers with the option to either receive regular guaranteed tax-free ‘Income’ or ‘Income with 110% Return of Premium’. Both these plan options provide income for up to 30 years. Also, the life cover offered under this product continues for the entire duration of the policy including the income period.
ICICI Pru Guaranteed Income for Tomorrow offers the flexibility to the customers to select the premium payment term of either 7 or 10 years and based on their needs can opt to receive income for a period of 15, 20, 25, or 30 years. The saving plan helps to build an alternate source of steady income and also enables customers to eliminate the uncertainty of future income streams to a large extent.
Mr. Amit Palta, Chief Distribution Officer, ICICI Prudential Life Insurance, said, “Financial planning has assumed added significance in a post-pandemic world, as individuals strive to ring-fence sources of future income or develop a supplementary source of steady income. Recognising this need, we have launched ICICI Pru Guaranteed Income for Tomorrow (Long-term).”
