ICICI Prudential Life Insurance has launched ICICI Pru Platinum, its first unit-linked insurance plan (ULIP) featuring fund value-based distributor payouts. This innovative product aligns distributor commissions with customer assets under management (AUM), promoting long-term investment behavior.ICICI Pru Platinum offers policyholders unlimited free switches between asset classes without any costs or tax implications, making it a cost-efficient way to build wealth. Customers can choose from 21 funds, including 13 equity, four debt, and four balanced options, alongside four portfolio strategies.
Amit Palta, Chief Distribution Officer at ICICI Prudential Life Insurance, highlighted the product’s customer-centric approach: “ICICI Pru Platinum is designed to align distributor incentives with customer fund values, fostering long-term financial growth.”The plan also provides two life cover options: Growth Plus, which gives the higher of the sum assured or fund value to the nominee, and Protect Plus, which guarantees both the sum assured and fund value.
ICICI Prudential Life is known for its industry-leading claim settlement ratio of 99.2% and a swift average turnaround time of 1.3 days. The company achieved the milestone of issuing 45% of its savings policies on the same day in FY2024.With an AUM of ₹2,941.40 billion and a total in-force sum assured of ₹34.1 trillion as of March 31, 2024, ICICI Prudential Life continues to be a dominant force in the Indian insurance sector.
