ICICI Prudential Life Insurance has introduced an innovative income plan named ICICI Pru GIFT Pro, designed to offer customers the choice between an annually increasing income or a consistent regular income. Moreover, this non-participating savings product includes a life cover component to ensure financial security for the policyholder’s family.ICICI Pru GIFT Pro is highly adaptable, allowing customers to tailor the product to their specific requirements by selecting from various income benefits and premium payment terms, among other flexible options.
In addition to the guaranteed long-term income, ICICI Pru GIFT Pro also provides the option for customers to receive a lump sum benefit. Customers have the freedom to choose any amount, up to 100% of the premiums paid, as a lump sum benefit and can determine the timing of its receipt.
This feature-rich product also ensures that in the event of the policyholder’s demise during the income period, the nominee will continue to receive the income, providing added financial security. ICICI Pru GIFT Pro effectively offers customers the flexibility to meet both short-term and long-term income needs.ICICI Pru GIFT Pro offers a range of premium payment terms, spanning from 5 to 12 years, allowing customers to save according to their convenience and timeline for achieving their goals. Starting from the 8th year onwards, policyholders can also start receiving income for a period of up to 30 years.
