Key Points of ICICI Prudential Life Insurance Launches ICICI Pru Gold:
- ICICI Prudential Life Insurance has launched ICICI Pru Gold, a long-term savings product.
- ICICI Pru Gold provides customers with an additional income stream to meet their diverse income requirements.
- The product offers customers a guaranteed lifelong income and financial security through its life cover component.
- ICICI Pru Gold is available in three variants – Immediate Income, Immediate Income with Booster, and Deferred Income.
- Customers opting for the ‘Immediate Income’ variant can start receiving income after 30 days from the policy issuance date.
- Customers who purchase the “Immediate Income with Booster” variant receive additional guaranteed income every fifth policy year in addition to the lifelong income.
- In the ‘Deferred Income’ variant, customers have the flexibility to choose when they want the income to start, as per their financial goals.
- ICICI Pru Gold offers customers the option to accumulate their income in a Savings Wallet and pay their future premiums from the accumulated corpus using the Premium Offset option.
Details of ICICI Prudential Life Insurance Launches ICICI Pru Gold
ICICI Prudential Life Insurance Launches ICICI Pru Gold: A Long-Term Savings Product
ICICI Prudential Life Insurance has recently announced the launch of ICICI Pru Gold, an innovative long-term savings product that provides customers with an additional income stream to meet their diverse income requirements. This product offers customers a guaranteed lifelong income while also providing financial security to their families through its life cover component. Additionally, ICICI Pru Gold is available in three variants – Immediate Income, Immediate Income with Booster, and Deferred Income – to cater to the varied income needs of customers.
Customers who opt for the ‘Immediate Income’ variant can start receiving income after 30 days from the date of policy issuance. This enables them to immediately create a supplementary source of lifelong income. Those who purchase the “Immediate Income with Booster” variant receive additional guaranteed income every fifth policy year in addition to the lifelong income that begins after 30 days from the policy issuance date.
In the ‘Deferred Income’ variant, customers can choose when they want the income to start, giving them the flexibility to receive income as per their financial goals. Customers can start receiving income as early as the second policy year or as late as the 13th policy year.
Moreover, ICICI Pru Gold offers customers the option to accumulate their income in a Savings Wallet instead of receiving it as regular payments. This feature provides customers with flexibility in terms of liquidity and allows them to withdraw the amount accumulated in their Savings Wallet, either partially or in full, depending on their financial needs. Additionally, customers can pay their future premiums from the accumulated corpus using the Premium Offset option.
Commenting on the launch of ICICI Pru Gold, Mr. Amit Palta, Chief Distribution Officer, ICICI Prudential Life Insurance, said, “This innovative long-term savings product provides customers with a guaranteed source of income cushioned from market fluctuations. We aim to enable our customers to meet their diverse income needs without having to worry about the uncertainties impacting their finances.”
In conclusion, ICICI Pru Gold is an excellent option for customers who want to create an additional source of guaranteed income apart from their profession. This long-term savings product provides customers with flexibility in terms of liquidity and can be customized to meet their income needs.
About ICICI Prudential:
ICICI Prudential Life Insurance located in India, operates as a life insurance company. It was founded as a collaborative effort between ICICI Bank Limited and Prudential Corporation Holdings Limited and offers life insurance and asset management services. The company made history in 2016 as the first insurance company in India to be publicly traded on domestic stock exchanges
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