With the goal of giving clients guaranteed instant income to help them deal with the current market's uncertainties, ICICI Prudential Life Insurance has introduced ICICI Pru GIFT Select, a new long-term savings product.Among the plan's many advantages are guaranteed returns, wealth preservation, and an option for an inflation-adjusted income increase.
Customers can customize their income by selecting the start date, length, and amount of their guaranteed payouts with ICICI Pru GIFT Select. A life insurance component is also included in the plan, guaranteeing policyholders and their families financial stability.
This product's increasing income option is one of its best features; it provides a guaranteed income that increases at a compound annual rate of 5%, effectively protecting against inflation. This guarantees that, even in an uncertain economic climate, consumers' purchasing power will not be diminished.
Amit Palta, Chief Product and Distribution Officer at ICICI Prudential Life Insurance, stated, "This special product enables our customers to benefit from guaranteed income that they can customize according to their life goals and cash flow requirements."
Palta added that consumers prefer products like ICICI Pru GIFT Select because they want steady, guaranteed returns during periods of market turbulence. With an average claim settlement time (non-investigated) of only 1.2 days, he emphasized the company's industry-leading claim settlement ratio of 99.3% in the first nine months of FY25, demonstrating their dependability and dedication to policyholders.
Primary Benefits:
1. Provides both a lump sum maturity benefit and guaranteed income.
2. Offers the option of an increasing income, with 5% compounded annually to control inflation.
3. Allows clients to customize the length of the guaranteed income to suit their needs.
4. Helps clients reach their financial objectives and protect their wealth.
This most recent product from ICICI Prudential Life Insurance guarantees long-term wealth preservation and financial goal achievement despite economic fluctuations, satisfying the growing demand from consumers for stable financial solutions.
