ICICI Prudential Life launches ICICI Pru Smart Life

The product offers a dual protection feature through Smart Benefit

ICICI Prudential Life Insurance Company Limited, today announced the launch of ICICI Pru Smart Life. This savings product is designed to provide financial protection and enable building a corpus over the long term.

The product offers a dual protection feature through the Smart Benefit. It pays the lumpsum of the Sum Assured to the nominee in case of death of the policyholder.

Additionally, this feature enables the family of the policyholder to achieve their financial goal(s), as the company allocates units equal to the premium installment. On completion of the policy term, the nominee receives the Fund Value.

ICICI Pru Smart Life has 8 underlying fund options which customers can choose from, including a new fund, Maximise India Fund, which will be bench-marked against the NIFTY 50 and NIFTY Junior indices.

Puneet Nanda, Executive Director, said "ICICI Pru Smart Life addresses the anxiety in the minds of customers about the well-being of their loved ones in their absence and the concern of financial goals being compromised. We believe, this product empowers customers and provides them the assurance of the fruition of their financial goals."

ICICI Pru Smart Life rewards customers over the long term by way of Loyalty Additions and Wealth Boosters. This helps in building a corpus in a cost effective manner that can be used to achieve a financial goal for e.g. fund a child's education, buy a home or plan a comfortable life after retirement.

Customers have the option to receive the entire maturity benefit by way of a lump-sum amount or in the form of structured payouts which can substitute regular income.