ICICI Prudential Life Insurance today launched a new unit-linked pension product ICICI Pru Shubh Retirement.
The product aims at protecting the customer’s capital while capturing potential superior returns offered by equity as an asset class with funds being invested in a combination of debt and equity, the company said in a statement.
The product would enable consumers to build a corpus during their working years and receive assured regular pension post retirement, company’s Executive Director Puneet Nanda said.
The pension product can be purchased by customers in the age bracket ranging from 35 to 70 years and customers can choose a premium paying term of 5 or 10 years.