ICICI Prudential Launches its First ULIP with ICICI Pru Platinum

ICICI Prudential Life Insurance has unveiled its latest offering, ICICI Pru Platinum, marking the company's entry into the unit-linked product (ULIP) arena. Let's take a look at the details.

by Sadikaa Updated: 07 May, 2024, 21:00 IST
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ICICI Prudential Life Insurance has unveiled its latest offering, ICICI Pru Platinum, marking the company's entry into the unit-linked product (ULIP) arena. What's intriguing about this launch is how it reshapes the relationship between distributors and customers.

ICICI Prudential Launches its First ULIP with ICICI Pru Platinum

Traditionally, distributor commissions in ULIPs were disconnected from the actual performance of the customer's investments. However, your advisor's payout is now linked to how well your investments do. This means they have a real incentive to help your money grow because when your funds perform well, they benefit too. It's a win-win situation because your advisor's success is tied to yours. ICICI Pru Platinum flips the script by tying distributor payouts directly to the value of their client's funds.

But that's not all. With ICICI Pru Platinum, you have the freedom to switch between different types of investments without worrying about extra costs or taxes. The ICICI Pru Platinum will give provision for unlimited free switches between asset classes. This means you can adjust your strategy as your financial goals evolve, without any hassle. You can tailor your investment strategy but also eliminate any associated costs or tax implications, making wealth accumulation smoother and more efficient. With a diverse range of 21 funds spanning equity, debt, and balanced categories, along with four portfolio strategies, ICICI Pru Platinum offers customers ample choice to align their investments with their financial goals and risk tolerance.

Amit Palta, Chief Distribution Officer at ICICI Prudential Life Insurance, emphasized the company's commitment to innovation and customer-centricity. They're simplifying financial products and processes while making sure customers' needs and preferences are met.

Although the introduction of ICICI Pru Platinum is a big deal for the company, people thinking of investing in it should do their homework and get advice from financial experts to make sure it's a good fit for their investment goals and how much risk they're willing to take.

If you're interested in building your wealth through investments, you might also be keen on learning how to effectively save your hard-earned money. Explore Credit Card Offers & Deals and select the card that best suits your needs.

ICICI Pru Platinum is not just another product launch. It's a move towards a more transparent and customer-centred approach in the insurance industry. The idea is to link payouts to fund performance and offer flexibility in asset allocation. This way, both distributors and customers can benefit from long-term financial stability. So, while this launch is a big deal for ICICI Prudential Life Insurance, what really matters is how it can help you. The aim is to empower you with the necessary resources and assistance to manage your financial future in the long term.

If you're focused on expanding your financial portfolio, understanding how to safeguard your assets with insurance is crucial. Take a look at our Insurance section and pick the one that aligns with your requirements.

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1. What are the benefits of the fund value-based distributor payouts?

Financial advisors are rewarded for helping you plan for your future financial goals. They are encouraged to provide guidance that will help your investments grow, as their income is tied to your success.

2. Are there any charges for switching between asset classes?

Nope! ICICI Pru Platinum allows unlimited free switches between asset classes. You can adjust your investment strategy as needed without worrying about extra costs or tax implications.

3. How many investment options are available with ICICI Pru Platinum?

You have a wide range of choices! There are 21 different funds to pick from, covering equity, debt, and balanced categories, along with four portfolio strategies to suit your preferences.

4. What sets ICICI Pru Platinum apart from other ULIPs on the market?

ICICI Pru Platinum not only offers innovative features like fund value-based distributor payouts and unlimited free switches between asset classes but also reflects the company's commitment to simplicity and customer-centricity.

Deal Cadet
Sadika is a content writer with over three years of experience in Ecommerce, Tech, Finance, Skin care and Beauty, Travel, and Psychology. Her mission is simple: to bring you the best information possible.
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How is it first ULIP from them, when I used to hold a ULIP policy from 2006 to 2011... advertising ke liye kuch bhi karenge...
Deal Cadet Deal Cadet
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For Icici it's first ULIP with distributors commission linked to fund performance.. Instead of earlier method.. Where commission is fixed no matter how good or bad fund performance may be.. Not sure when this ULIP and ELSS bubble is gonna blow up in the world of mutual fund. Lock in periods are getting extended and withdrawl charges are sky rocketting.
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