ICICI Life Insurance has launched ICICI Life EzyGrow, a unit-linked insurance plan with enhanced Waiver of Premium where in case of an unforeseen event the company will invest two or three times (2X and 3X) of future pending premiums on customer's behalf.
The benefit is designed to help families stay on track with their long-term goals such as a child's education or a spouse's retirement, while building an additional financial cushion to help meet unforeseen needs. This plan will be distributed online through exclusive partnership with Policybazaar.
Commenting on the launch of ICICI Life EzyGrow, Mr Srinivas Balasubramanian, Chief of Marketing, Digital & Bancasurance, ICICI Life Insurance, said, "As customers navigate different stages of life, their financial priorities evolve and so do their aspirations for the future. With multiple goals to plan for - from wealth creation and family protection to retirement – customers increasingly seek simpler ways to bring their financial planning together.
“Guided by our customer-first philosophy and a deep understanding of these evolving expectations, we have launched ICICI Life EzyGrow, a comprehensive solution that brings wealth creation, family protection and retirement planning together under a single policy, making long-term financial planning easier and more seamless.”
By combining market-linked investment opportunities with enhanced Waiver of Premium benefits, benefit continuity for the nominee and retirement planning options, ICICI Life EzyGrow simplifies the journey towards achieving long-term financial goals. It enables customers to plan for their aspirations, protect their loved ones and secure their family's future through one integrated solution, offering greater convenience, confidence and peace of mind, representing our endeavour towards making their Har Kal Aasaan.
Mr Vivek Jain, CBO of Life Insurance at Policybazaar said, "Long-term financial goals require consistency, but life does not always go according to plan. A key concern for customers investing towards goals such as a child's education or spouse's retirement is whether those investments will continue if the earning member is no longer able to contribute.”
“Enhanced Waiver of Premium options can address this gap by helping ensure that the financial plan stays on track even in the face of an unforeseen event. The 2X and 3X premium funding helps in building an additional financial cushion to help meet unforeseen needs,” he said.