ICICI Prudential Life Insurance has launched a new product wealth advantage. This is a unique single premium ULIP policy. Following are the key features of the policy:-

- Wealth Advantage allows consumers to stay invested in the plan for as long as they live, thereby ensuring long-term coverage.
-It offers the flexibility to increase or decrease the sum assured in accordance with the individual's protection needs.
-It has the benefit of automatic transfer strategy. Through this strategy customers can invest a lump sum amount in the company's money market fund (Preserver) and transfer a pre-defined amount every month into any one of the chosen equity funds ( Multiplier, R.I.C.H., Flexi Growth, Maximiser). This gives customers the benefit of rupee cost averaging by ensuring that they buy more units at lesser price.
-It also gives customers the security of a liquid fund while trying to enhance returns by systematically moving the funds into equity. During the policy term consumers can also switch between these funds.
-The most unique features of Wealth Advantage is the automatic withdrawal plan. AWP enables consumers a choice of withdrawing fixed amount in regular installments from their 6th policy year onwards at no extra cost. This helps consumers the convenience to avail of regular tax free income while maintaining their investments' growth potential.This is in addition to the death benefit and partial withdrawal benefit that the plan offers.