Five Reasons Why ICICI Prudential Is The Life Insurer You Need
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ICICI Prudential Life Insurance Company Limited began its operations in the fiscal year 2001 after it received approval from the Insurance Regulatory Development Authority of India (IRDAI) in November 2000. It is a joint venture between ICICI Bank Limited and Prudential Corporation Holdings Limited, a part of the Prudential Group. ICICI Prudential Life is also the first insurance company in India to be listed on Bombay Stock Exchange (BSE) and National Stock Exchange (NSE).
Benefits Of Buying ICICI Prudential Life Insurance Plans
ICICI Prudential Life Insurance plans offer a range of benefits depending upon the type of insurance policy you buy. Let’s discuss the benefits of buy ICICI Prudential life insurance plans-
- Financial Security and Peace of Mind - Buying life insurance provides financial security as well as ultimate peace of mind. This is because with life insurance plans, you know that your family and loved ones will have a financial safety net in your absence. ICICI Prudential Life insurance plans cover the risk of disability and critical illness too along with death thereby providing your family with a 360-degree financial security against adverse situations.
- Life Cover- The basic benefit of life insurance plans is that it offers cover against premature death. Almost in all the insurance plans, except immediate pension plans and health plans, a lump sum benefit is paid to the family of the insured on his/her premature death. It helps the family to overcome the financial burden in the absence of the breadwinner.
- Wealth Creation - Many life insurance plans also offer the opportunity to create wealth. Apart from life cover, these insurance plans invest your premium amount in different investments (debt or equity or both) to help you grow your corpus through market linked returns. You can use this corpus to fulfil different financial goals in your life.
- Saving for your children’s education- Life insurance plans also help you to save along with enjoying insurance cover. Child insurance plans allow you to fulfil your child’s educational goals. Such plans, in the form of a unit linked or savings plan, help you to grow your investments and secure the educational milestones of your child.
- Meeting financial goals- ICICI Prudential Life Insurance plans enable you to fulfil your financial goals. You can invest in different life insurance plans as per your financial needs and goals. Term plans help you to fulfil income replacement goals, retirement plans help you to create a corpus for your retirement, child plans help you to meet educational goals of your child and traditional plans help you to save and create wealth for meeting future financial needs.
Conclusion
ICICI Prudential Life Insurance has superior claim paying ability which is proven by consistent highest ratings awarded by ICRA, one of the well-known independent rating agencies.
Also read: Where Do You Start When It Comes To Financial Investments?
