Agra: ICICI Prudential Life Insurance has launched ICICI Pru SmartKid 360, a long-term saving product which allows customers to plan for their child’s future financial needs, with guaranteed benefits.
ICICI Pru SmartKid 360, gives MoneyBack or pre-decided payouts as per the child’s future milestones such as school or higher education or early adulthood goals. Notably, customers can choose a fixed amount or increasing amount as payouts.
Commenting on the launch, Vikas Gupta, Chief Product Officer, ICICI Prudential Life Insurance, said, “ICICI Pru SmartKid 360 has been designed to cater to the parents need to financially secure their child’s future. In addition to the MoneyBack benefits, the product provides a guaranteed maturity benefit in the form of a lump-sum payout, at the end of the policy tenure, which can support the child’s transition into adulthood.
A key feature of the product is the inbuilt waiver of premium and continuity of benefits, which safeguards the child’s future in the event of the life assured’s unfortunate demise. Under this feature, all future premiums are waived, life cover amount is paid out to the nominee and other chosen policy benefits continue which can ensure the child’s goals are not disrupted.
In addition to the core benefits, ICICI Pru SmartKid 360 offers optional features such as Family Income Benefit, which provides regular income, supporting the family in case of the life assured’s untimely demise.”
