ICICI Prudential Life Insurance Company Ltd (ICICI Prudential Life) on Tuesday announced the launch of ICICI Pru Ace – a low charge, wealth making product.
The particularly low charge configuration of the product ensures that the customer gets an unbeatable rate of return over the tenure of the product, said the company.
Pranav Mishra, SVP & Head - Products & Sales, ICICI Prudential Life Insurance, said, “Ace delivers a significantly superior value proposition to the customer as there is 100% allocation of the customer’s funds. Our latest fund offering, the Dynamic P/E Fund is an added new fund option that our customers can utilize to create long term wealth creation.”
ICICI Pru ACE rewards customers who have a long term point of view through loyalty additions as well as additional allocation of units as under additional allocation of units: more than 100% allocation to funds on the premium payment from the 6th policy year onwards.
There is no premium allocation charge which results in results in 100% allocation of the customer’s funds at the time of premium payment. The policy administration charge is fixed at Rs. 60 per month for the term of the policy.
This negligible charge structure results in a very high NET YIELD for the customer.
The company has also launched a Dynamic P/E Fund along with this product that provides long term capital appreciation through dynamic asset allocation between equity and debt.
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