ICICI Prudential Life Insurance Company has unveiled its new unit linked plan, ICICI Pru Guaranteed Wealth Protector.
According to ICICI, the new plan will enable customers to protect their capital on maturity.
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Additionally, the product will provide for exposure to an equity oriented fund of up to 60% for customers aged below 45 years and up to 45% for customers above this age limit, while ensuring that premiums paid are protected.
Loyalty additions of 0.25% of the average fund value will be added every year following completion of the sixth policy year, while Wealth Boosters will be added following the completion of the tenth policy year.
Furtehrmore, ICICI Pru Guaranteed Wealth Protector will also provide an opportunity to the customers in optimising their returns without the risk of capital erosion.
ICICI Prudential Life executive director, Puneet Nanda, 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.
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By GlobalData"We believe that the unique features of this product will facilitate customers achieving their financial goals in a systematic and disciplined manner."
