ICICI Prudential Life Insurance has launched a new plan, ICICI Pru Protect N Gain, which will offer a comprehensive life insurance cover, protection against accidental death and permanent disability due to an accident and market-linked returns to build long-term wealth and achieve financial goals, the insurer said in a statement.

ICICI Pru Protect N Gain will provide a life insurance cover up to 100 times the annual premium, enabling customers to maximise returns by offering 18 funds options spread across equity and debt to choose from.

The scheme further provides a blend of protection and long-term savings to achieve financial goals by ensuring complete financial protection for the family during the policy tenure and a significant lump sum for self on survival.

The policy can be issued based on declared income. Specifically, customers under the age of 45 are not required to undergo physical medical tests, according to the statement.

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The life cover or claim amount will be paid out as a lump sum to the beneficiary/nominee in case of the demise or permanent disability of the policyholder due to an accident, ensuring the family is not financially vulnerable.

Features

  • Life cover up to 100 times the annual premium, providing financial security to the family
  • Build long-term wealth and achieve financial goals
  • Cover against accidental death and permanent disability due to an accident
  • Make unlimited changes in premium allocation between equity and debt to maximise returns, at zero cost
  • Simple buying process for customers

“ICICI Pru Protect N Gain is a unique product which offers customers a life cover up to 100 times the annual premium which safeguards the financial savings goal of customers in case of any eventuality. Besides, the market-linked returns offered by this product, on the premiums invested can offer a large lump sum to customers at the end of the policy tenure,” said Amit Palta, Chief Distribution Officer, ICICI Prudential Life Insurance.

“Planning for specific financial goals such as a child’s future education or saving for retirement are non-negotiable goals and necessitate long-term investments along with the flexibility to choose exposure to equity and debt based on the prevailing market conditions,” he added.

Disclaimer: This article is based on a press release shared by ICICI Prudential Life Insurance. Please read the offer document carefully and consult your financial advisor before buying this or any other life insurance policy.