ICICI Prudential Life Insurance has launched a new savings product, ICICI Pru GIFT Select, designed to offer guaranteed income and financial security in response to market volatility.
According to a press release, the product allows customers to customise their income stream by choosing when the payouts begin, their duration, and the final maturity amount. A notable feature of the plan is the increasing income option, where payouts grow at a compounded rate of 5 percent annually, helping policyholders mitigate the impact of inflation.
Amit Palta, Chief Product and Distribution Officer at ICICI Prudential Life Insurance, highlighted that the product aligns with customer preferences for stability in uncertain market conditions.
He noted that many investors are seeking guaranteed returns while preserving wealth, and ICICI Pru GIFT Select caters to this demand.
The life cover component further strengthens financial protection for policyholders’ families, the release said.
ICICI Prudential Life has maintained an industry-leading claim settlement ratio of 99.3 percent in the first nine months of FY25, with an average non-investigated claim settlement time of 1.2 days, the release said.
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