ICICI Prudential Life launches new product

MUMBAI: Private life insurer, ICICI Prudential Life Insurance today launched a unit-linked insurance product 'ICICI Pru Guaranteed Wealth Protector', a company release said.

This unit-linked product will allow customers to protect their capital on maturity and have a potential for upside through an exposure to equities, it added.

As per the company, the product provides for exposure to an equity-oriented fund of up to 60 per cent for customers aged below 45 years and up to 45 per cent for customers above this age limit, while ensuring that premiums paid are protected.

"We understand that customers are concerned about the volatility of their savings and our approach through this product has been to provide capital protection with a potential for higher returns through equity exposure. We believe this product will facilitate customers achieving their financial goal," Executive Director of ICICI Prudential Life Insurance, Puneet Nanda said.

The company also said through this new product, customers' corpus is insulated from any market downturn.