ICICI Prudential’s new ULIP plan allows investments starting at ₹1000/month with life cover, fund flexibility, and long-term wealth creation benefits.
Thrissur: ICICI Prudential Life Insurance has launched a market-linked insurance plan named ‘ICICI Pru Smart Insurance Plan Plus’, designed to help customers build long-term wealth. The plan can be started with a monthly premium as low as ₹1000. Amit Palta, Chief Product and Distribution Officer at ICICI Prudential Life, stated that the plan aims to empower a large section of young consumers to invest systematically and achieve their long-term financial goals.
The plan also ensures financial security for families in unforeseen situations through a life cover. Customers can choose from 25 different funds and 4 portfolio strategies, offering a wide variety of investment options. It also allows free fund switches, enabling users to adjust asset allocation without any charges or tax liability. Additionally, an add-on benefit called “Waiver of Premium” ensures that the investment continues even in the absence of the policyholder. This unit-linked insurance plan (ULIP) is specially crafted to encourage young individuals to start investing early and stay invested longer, thereby building wealth efficiently. Palta added that this affordable and tax-beneficial plan allows even first-job earners to kickstart their savings journey with investments as low as ₹1000 per month.
