Date:25/08/2006 URL: http://www.thehindu.com/2006/08/25/stories/2006082502051800.htm

Business - Briefly

ICICI Prudential launches two new products

HYDERABAD: ICICI Prudential Life Insurance, the leading private sector life insurer, has announced the launch of two new products — InvestShield Life-New and Immediate Annuity — aimed at offering greater security to investors and retirees alike. InvestShield Life-New, a premium guaranteed product, offers retail investors an opportunity for long-term capital appreciation through exposure to the markets wherein 40 per cent of the fund would be invested in the equity market. The product would be available for a minimum premium of Rs. 8,000 a year for 10 to 30 years. Immediate Annuity offers the following payout options: annuity for life with and without return of purchase price, joint life (annuitant and spouse) and annuity life for life guaranteed for 5, 10 or 15 years, ICICI Prudential Executive Vice-President, Sandeep Batra, told reporters here on Thursday.