ICICI Prudential Life Insurance coverage has launched their new financial savings product ‘ICICI Pru Assured Earnings for Tomorrow (Lengthy-term)’. This new non-participating product will present prospects with the choice to both obtain common assured tax-free earnings or earnings with a 110 per cent return of premium. Each these plan choices present earnings for as much as 30 years. The life cowl supplied below this product will proceed for the complete period of the coverage, together with the earnings interval, thereby offering monetary safety to the policyholder’s household.
Policyholders may have the flexibleness to pick out the premium fee time period of both 7 or 10 years and primarily based on their wants can decide to obtain earnings for a interval of 15, 20, 25, or 30 years. The life insurance coverage firm claims that this saving plan will present peace of thoughts to prospects by serving to to construct an alternate supply of regular earnings to help their monetary objectives akin to a toddler’s greater schooling, retirement planning, and so forth. It’ll additionally allow prospects to eradicate the uncertainty of future earnings streams to a big extent.
It additionally comes with the function ‘Save the Date’ – which can present policyholders with the flexibleness to decide on an earnings begin date that may coincide with particular dates akin to marriage anniversaries and partner’s birthday. It will assist the policyholder’s household obtain earnings on dates with particular significance.
Amit Palta, Chief Distribution Officer, ICICI Prudential Life Insurance coverage, says, “Monetary planning has assumed added significance in a post-pandemic world, as people attempt to ring-fence sources of future earnings or develop a supplementary supply of regular earnings. Recognising this want, we’ve launched ICICI Pru Assured Earnings for Tomorrow (Lengthy-term).”
He additional provides, “Since a policyholder would know the precise quantity of earnings receivable, it can allow them to develop a strong monetary financial savings plan. Buyer-centric method coupled with new-age digitalisation options will provide policyholders a secure, safe and nearly paperless onboarding expertise.”
Key options of the plan;
· Tax-free assured earnings for as much as 30 years
· Pay premiums just for 7 or 10 years
· Flexibility to select from the ‘Earnings’ choice or ‘Earnings with 110 per cent Return of Premium’
· ‘Save the Date’ function to obtain assured earnings on a date with particular significance
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