GUWAHATI, May 17: ICICI Prudential Life Insurance launched a debt fund on Monday which will enable customers to lock in their investments at current high-interest rates, build long-term wealth and achieve financial goals. This fund is available for investments with the Company’s flagship Unit Linked Insurance Plans (ULIP). ULIPs provide customers with a unique proposition of life cover, and financial security to the family and facilitate building wealth over the long term. ICICI Pru Constant Maturity Fund is available with Unit Linked Products from May 15, 2023.
Customers can invest in this fund through the Company’s ULIP offerings like ICICI Pru Signature, ICICI Pru Smart Life and ICICI Pru LifeTime Classic. Customers can reach out to their advisors or visit the company website (www.iciciprulife.com) to buy these plans.
Arun Srinivasan, head of fixed income, ICICI Prudential Life Insurance said, “We are excited to launch a unique debt fund which makes us the country’s first insurer to offer such a fund in the fixed income ULIP space. With the interest rate cycle closer to its peak, it is a great opportunity for customers to channelise investments to the ICICI Pru Constant Maturity Fund. We suggest investors apportion a share of their savings to ULIP debt funds for capital preservation and long-term wealth creation. By investing in this fund customers will be able to lock in their investments at the high current interest rates and benefit from increasing NAV of the fund since bond prices are expected to rise over time.”
Srinivas Balasubramanian, head of products, ICICI Prudential Life Insurance added, “We are delighted to offer customers the industry’s first-of-its-kind debt fund. The ICICI Pru Constant Maturity Fund will be available with our linked savings products. Customers can invest their premiums in this fund to take advantage of the high-interest rates prevailing and lock in their investments for the long term. ULIPs also offer customers a tax-efficient mode of building long-term savings as they can invest up to 2.5 lac annually for the duration of the policy and take home a tax-free maturity amount. Besides steady and stable returns, it offers customers a life cover which financially secures their loved ones. Customers trust us due to our track record of delivering on promises made over two decades.”