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Mumbai: ICICI Prudential Life Insurance Company Limited, today, announced the launch of ICICI Pru Guaranteed Wealth Protector. This unit linked plan allows customers to protect their capital on maturity and have a potential for upside through an exposure to equities. The product provides for exposure to an equity oriented fund of upto 60% for customers aged below 45 years and upto 45% for customers above this age limit, while ensuring that premiums paid are protected.
Loyalty Additions of 0.25% of the average fund value
are added every year after the completion of the 6th (sixth) policy year. Additionally, Wealth Boosters are added after the completion of the 10th (tenth) 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.
Mr. Puneet Nanda, Executive Director, 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. “
He added “Life insurance is a long term product and the key is to continue with the product till the end of the policy term. Our unit linked products have over the last 10 (ten) 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.”
About ICICI Prudential Life Insurance: ICICI Prudential Life Insurance Company is a joint venture between ICICI Bank, a premier financial powerhouse, and Prudential plc, a leading international financial services group headquartered in the United Kingdom. ICICI Prudential Life was amongst the first private sector insurance companies to begin operations in December 2000 after receiving approval from Insurance Regulatory Development Authority (IRDA). ICICI Prudential Life's capital infused stands at Rs. 47.93 billion (as of March 31, 2013) with ICICI Bank and Prudential plc holding 74% and 26% stake respectively. For FY 2013, the company garnered total premium of Rs. 135.38 billion. The company’s assets under management amount to Rs. 741.64 billion as on March 31, 2013.
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