ICICI Prudential Life launches ICICI Pru Signature Secure

ICICI Prudential Life Insurance has launched ICICI Pru Signature Secure, Indian life insurance’s first Unit Linked Insurance Plan (ULIP) with a built-in guaranteed maturity benefit. ICICI Pru Signature Secure is a non-participating linked individual savings life insurance plan and has been designed for customers looking for the reassurance of tax-efficient guaranteed benefits. The product offers a simple proposition — invest once, stay protected through life cover during the policy term and receive a maturity benefit at the end of five years. On maturity, the customer receives the higher of the fund value or the guaranteed maturity benefit, providing the reassurance of a guaranteed outcome.

For instance, a 45-year-old customer looking for a one-time investment solution can invest Rs 5 lakhs in ICICI Pru Signature Secure and remain protected through life cover during the policy term. The customer can choose a life cover (sum assured) of Rs 6.25 lakhs and gets a guaranteed maturity benefit of Rs 7 lakhs in this case.

Commenting on the launch, Vikas Gupta, Chief Product Officer, ICICI Prudential Life Insurance, said customers are increasingly looking for solutions that can help them achieve better post-tax outcomes along with guaranteed returns and financial protection.