ICICI Pru Life launches a policy that assures regular income for up to 30 years

ICICI Prudential Life Insurance has launched ICICI Pru Life GIFT Pro that will give regular income to policyholders for up to 30 years. The product also allows policyholders to choose frequency of such a regular income.

Interestingly, the regular income will not stop even after death of the policyholder. “This product ensures the nominee will continue to receive the income in case of the demise of the policyholder during the income period,” said the company.

Policyholders can also choose to receive one-time lump sum payment on maturity.

In a press release, Amit Palta, Chief Distribution Officer, ICICI Prudential Life Insurance said, “The product will enable customers to decide the time and quantum of lump sum funds they want, to ensure the fruition of their financial goals.”