ICICI Pru Life launches an annuity offering 100% surrender value on discontinuation from day 1
The annuity product will give back 100% of premiums paid at any time starting from the date of purchase.
ICICI Prudential Life Insurance has launched a new annuity plan ICICI Pru Guaranteed Pension Plan Flexi with Benefit Enhancer which offers 100% refund of premium payment at any time after the date of purchase.
Mr. Amit Palta, Chief Distribution Officer, ICICI Prudential Life Insurance, said, "We are delighted to introduce ICICI Pru Guaranteed Pension Plan Flexi with Benefit Enhancer, a versatile annuity product designed to address the uncertainties that individuals may face when planning for their retirement. What sets this annuity product apart is the flexibility to get a 100% refund of the premiums paid at any time if they are unable to continue paying premiums. Also, the waiver of premium benefit ensures continuity of income for the spouse in case of the unfortunate demise of the policyholder."
Other key features of the policy:
- Joint-life with waiver of premium option that ensures the financial security of the spouse
- Offers loan against policy to meet liquidity needs due to financial emergencies
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