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ICICI Prudential Unveils New ULIP

ICICI Prudential Life Insurance has introduced SecureSave, a new unit linked insurance plan (ULIP) that helps customers enjoy dual benefits. The product focuses on growth as well as security of investor’s savings.

SecureSave helps investors to reap benefits of long term equity investment without bothering about the risks associated with equity markets. The product will offer a guaranteed maturity benefit in a range of 110% to 150% of the sum of all the investment premiums paid. The product features limited premium payment term and offers tax benefits to customers.

Pranav Mishra, Senior Vice President, Products, ICICI Prudential, said: “Our experience shows that in the short term, equity investment is bound to be volatile. However, the growth potential of equity remains intact over a long term horizon. We realised that the investors want to invest in equity but still remains worried about the volatility, therefore they needed an investment with potential for upside, without the risk of loss. Hence, we launched SecureSave to ensure both security and returns to our consumers.”