ICICI Prudential Life Insurance has launched a new saving product. Through this product ‘ICICI Pru Guaranteed Income for Tomorrow (GIFT)’ policyholders get a guaranteed income. This helps them to meet their long-term financial goals. Uncertainty of future income can be eliminated through this non-participating savings product to policyholders.
Policyholders have many options under this scheme. As such, they can choose the option of getting income from a particular day like birthday or wedding anniversary. Apart from this, policy holders have the option of taking income from the very next year of buying the policy. Apart from this, life cover is also available.
You can choose one of these three options
- Income The policy holder can choose the option of maturity benefit as a fixed income for a period of 5, 7 or 10 years. This is a better option for policy holders who are setting financial goals for the education of their children. Flexible premium payments and income period options help them to meet the financial goals of the child’s education.
- The next year after taking the policy, the income- Under this variant, the policyholders offer the option of ‘Guaranteed Early Income’ from the very next year of purchasing the policy. Under this feature, policyholders do not have to wait for the policy to be matured for income. Policyholders continue to receive income and their savings also increase continuously.
- Lump sum premium payment Under this variant, the policy holders only have to pay the premium at the time of purchasing the policy and they have to choose the policy term only while purchasing the policy. After this policy period, they are paid a fixed lump sum. Apart from this, the policy holders also get the benefit of life cover.
Can make a special date on a certain date
Policyholders get the Save The Date feature under ‘ICICI Pru Guaranteed Income for Tomorrow’. This feature is special in the sense that through this the policy holders can choose a particular day from which they want to start earning. That is, under this feature, policy holders can start taking income from a particular day like wedding anniversary, spouse’s birthday, etc.