Affordable product – minimum monthly premium of just ₹1,000 ~
Offers a cost-effective and tax-efficient wealth creation route ~
ICICI Prudential Life Insurance has launched ICICI Pru Smart Insurance Plan Plus, a market linked product designed to enable customers to build wealth over the long-term.This product can be purchased with a monthly premium of just ₹1000, enabling a large cross section of young customers to systematically invest and achieve their long-term financial goals. The life cover component in the product ensures that the customer’s family is financially secure.Mr. Amit Palta, Chief Product and Distribution Officer, ICICI Prudential Life Insurance said, “India is the fastest growing major economy and pegged to become the 3rd largest by 2028, as per Morgan Stanley. The country’s growth story is largely propelled by the youth, which constitutes about 65% of the population. ULIPs, by design, are an effective wealth creation tool and to encourage the youth to start investing early and remain invested for the long-term, we have launched ICICI Pru Smart Insurance Plan Plus. This cost-effective and tax-efficient product allows the youth to start early with affordable investments, as low as ₹1000 per month.Keeping in mind the target segment for the product and their preference to engage with brands and products digitally, we have enabled a complete digital purchase journey.ICICI Pru Smart Insurance Plan Plus offers customers an array of 25 funds and four portfolio strategies to choose from. Besides, customers can fine tune their asset allocation by switching from one fund to another without any cost or tax implications. Additionally, the product offers customers financial security in the form of a life cover.Notably, customers can opt for the Waiver of Premium add-on benefit which can ensure the long-term savings goal remains on track even in the absence of the policyholder.”Mr. Palta further stated, “The launch of this product reinforces our focus on developing products which fulfil the evolving needs of customers. It is a cost-effective tool that empowers individuals to plan for their future on their own terms, with flexibility, clarity and peace of mind.”