ICICI Prudential Life Insurance launches 'ICICI Pru guaranteed income for tomorrow'

ICICI Prudential Life Insurance has launched a new non-participating savings product 'ICICI Pru guaranteed income for tomorrow', providng customers with the option to either receive regular guaranteed tax-free income or income with 110 per cent return of premium.

Both these plan options provide income for up to 30 years but the life cover under this product continues for the entire duration of the policy including the income period, thereby providing financial security to loved ones, the insurer said.

One can select the premium payment term of either 7 or 10 years and based on their needs can opt to receive income for a period of 15, 20, 25, or 30 years, it said.

The 'save the date' feature provides customers the flexibility to choose an income start date which can coincide with special dates such as marriage anniversaries and spouse's birthday. This helps them receive income on dates with special significance, it said.