ICICI Prudential Life has launched a unit-linked plan 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 up to 60 per cent for customers aged below 45 years and up to 45 per cent for customers above this age limit, while ensuring that premiums paid are protected.
Loyalty Additions of 0.25 per cent 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.
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. “
Nanda 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 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.”