ICICI Prudential Life launches Wealth Advantage plan

Company Brief

Mumbai, February 04, 2009

ICICI Prudential Life launched Wealth Advantage, a unique single premium ULIP, today. Wealth Advantage allows consumers to stay invested in the plan for as long as they live, even beyond the age of 70 years, thereby ensuring long-term coverage. Further, it also offers the flexibility to increase or decrease the sum assured in accordance with the individual's protection needs. Wealth Advantage comes with these benefits and other key features at extremely competitive rates.

Speaking about Wealth Advantage, Mr. Bhargav Dasgupta, Executive Director, ICICI Prudential Life said, "In a day and age when consumers are continuously engaged to keep their investments organized, it was critical to offer them products, where they pay once, but are rewarded with returns through out their life. Wealth Advantage, a single premium ULIP enables them to do just that." He further added, "Wealth Advantage follows our consumer-centricity philosophy, and is bundled with various other unique features for our customers to enjoy returns throughout their lives."

Wealth Advantage consumers can also avail of the Automatic Transfer Strategy (ATS). Through this strategy customers can invest a lump sum amount in the company's money market fund (Preserver) and transfer a pre-defined amount every month into any one of the chosen equity funds ( Multiplier, R.I.C.H., Flexi Growth, Maximiser). This gives customers the benefit of rupee cost averaging by ensuring that they buy more units at lesser price. It also gives customers the security of a liquid fund while trying to enhance returns by systematically moving the funds into equity. During the policy term consumers can also switch between these funds.

One of most unique features of Wealth Advantage is the Automatic Withdrawal Plan (AWP). AWP enables consumers a choice of withdrawing fixed amount in regular instalments from their 6th policy year onwards at no extra cost. This helps consumers the convenience to avail of regular tax free income while maintaining their investments' growth potential. This comes in addition to the Death Benefit and Partial Withdrawal Benefit that the plan offers.

Key benefits of Wealth Advantage:

* Single premium plan with a whole life investment advantage.

* Life cover upto the age of 70 years.

* Two options of Sum Assured (125% or 500% of premium) to provide complete protection

* Option to withdraw money systematically through Automatic Withdrawal Plan, from the 6th policy year onwards

* Higher allocation of premium to ensure wealth maximization

* No need to time the investment with the benefit of Automatic Transfer Strategy

* Potentially higher returns over the long term by investing in any of the 7 unit-linked funds available

* Tax benefits under section 80 C & 10 (10D) of the Income Tax act 1961

For further information, please contact:

Adfactors PR Pvt Ltd

Amrita Singh

Tel: 022 - 2281 3565

Email: amrita.singh@adfactorspr.com