ICICI Prudential Life Insurance has launched a new product, ICICI Pru GIFT Select, designed to provide guaranteed immediate income and address the uncertainties of current market conditions. The plan offers customers guaranteed returns, wealth preservation, and an inflation-adjusted increasing income option. With the ability to customize start dates, durations, and amounts of payouts, customers can tailor their income to meet their individual needs. The product also features a life cover, ensuring the financial safety of policyholders and their families.
One of the key features of ICICI Pru GIFT Select is its increasing income option, which allows the guaranteed income to grow at a compounded rate of 5% per annum. This growth is designed to keep pace with inflation, ensuring that the value of the income remains stable in real terms. The product is particularly beneficial in today’s unpredictable economic environment, providing a reliable financial buffer against economic instability.
Amit Palta, Chief Product and Distribution Officer of ICICI Prudential Life Insurance, emphasized the product’s appeal during times of market volatility, highlighting the growing demand for stable and assured returns. The launch of ICICI Pru GIFT Select is in response to growing consumer demand for steady financial solutions that ensure long-term wealth preservation and financial goal achievement.
With an industry-leading claim settlement ratio of 99.3% and average settlement time of just 1.2 days, ICICI Prudential Life Insurance has reaffirmed its commitment to policyholders by offering products that meet their needs. The launch of ICICI Pru GIFT Select demonstrates the company’s strategic approach to providing financial solutions that align with customers’ life goals and cash flow requirements.
In a fluctuating market, products like ICICI Pru GIFT Select offer a promising alternative for those looking to align their income with their financial objectives while ensuring stability and growth. As demand for assured and adaptable financial products is likely to grow, ICICI Pru GIFT Select is poised to be a key player in the insurance sector.