Press release from Business Wire India
Source: ICICI Prudential Life Insurance Co. Ltd
Thursday, December 04, 2008 06:15 PM IST (12:45 PM GMT)
Editors: General: Consumer interest; Business: Advertising, PR & marketing, Banking & financial services, Business services, Financial Analyst
Release no: 18667
ICICI Prudential Life Launches Pure Protect
An Exclusive Plan Designed to Provide Life Cover at an Extremely Affordable Rate
Mumbai, Maharashtra, India, Thursday, December 04, 2008 — (Business Wire India) — ICICI Prudential Life today, announced the launch of ICICI Pru Pure Protect, a flexible and affordable term product. The product is designed to provide customers with the option of availing an insurance cover and provide total security to their dependents in case of an unfortunate event.
Commenting on the launch of Pure Protect, Mr. Bhargav Dasgupta, Executive Director, ICICI Prudential Life Insurance, said, “While designing our products, we have always kept our consumers’ convenience in mind. Following this philosophy of consumer-centricity we have introduced various innovative, yet simple products to enable consumer their life, health and pensions needs, effectively. Further, we believe it is crucial to provide customers, across all income segments, the ability to cover their life and provide security to their dependents. Hence, we have further strengthened our term products portfolio with the launch of Pure Protect, a product designed to provide life cover at one of the lowest rates in the market.”
ICICI Pru Pure Protect is available in two variants, ICICI Pru Pure Protect Classic for sum assured of up to Rs 25,00,000 and ICICI Pru Pure Protect Elite for sum assured of Rs 25,00,000 and above. The term policy aims at providing insurance at the lowest rates in the market with premium starting from as low as Rs 2,400 p.a.
ICICI Prudential Life has always been sensitive to the needs of the customers and has customized its product and service offerings to meet customer needs. Keeping in line with this, ICICI Pru Life’s Pure Protect is designed to help consumers customize their policy with additional benefits such as Accidental Death and Disability Benefit Rider and Waiver of Premium Rider. Accidental Death and Disability Benefit Rider provides enhanced protection in case of accidental death of life assured while the Waiver of Premium Rider covers total and permanent disability in case of accident along with payment of all future premiums till maturity.
In case of death of the life assured during the term, the sum assured will be paid to the beneficiary. ICICI Prudential Life’s Pure Protect provides tax benefits applicable under Sec 80C.
Key benefits of Pure Protect
— Insurance protection at one of the lowest market rates
— Policy enhancement with the optional Waiver of Premium Rider and Accidental Death and Disability Benefit Rider
— Tax benefits under Sec 80C of the Income Tax Act, 1961
About ICICI Prudential Life Insurance
ICICI Prudential Life Insurance Company is a joint venture between ICICI Bank and Prudential plc. It was one of the first players to commence operations when the insurance industry was opened to the private sector in 2000. For the half year ended September 30, 2008, the company garnered Rs 6,726 crore of total premium and has underwritten over 8 million policies since inception. The company has a network of over 2,050 offices and 278,000 advisors. It is also the only life insurer in India to be assigned AAA (Ind) credit rating from Fitch Ratings. For the past eight years, ICICI Prudential has maintained its leading position amongst life insurers in the country, with a wide range of flexible products that meet the needs of the Indian customer at every step in life. To know more about the company, please visit www.iciciprulife.com.
Anuja Sharma, Senior Manager – Corporate Communications, ICICI Prudential Life Insurance Co. Ltd, +91 (022) 66274623, [email protected]
CONSUMER, MARKETING, BANKING, BUSINESS SERVICES, Financial Analyst
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