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Mumbai, July 1

ICICI Prudential Life Insurance has launched a pension plan called LifeStage Assure Pension. The plan offers a guaranteed addition of up to 200 per cent of first year premium depending on the term of the product, said Mr Puneet Nanda, Executive Vice-President, ICICI Prudential Life Insurance. The plan has the option of partial withdrawals after five years. The minimum premium is Rs 15,000 per annum with entry allowed in the 18-70 year age group. Under the plan, the custome rs will have the option of moving to another life insurance company at the annuity phase, i.e. when the customer starts receiving the pension. The company with 2,099 branches sees no need for adding more branches to its existing network. –

Our Bureau

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