Question
Which Insurance company had launched Pru GIFT Pro, which
provides customers the option to receive a year-on-year increasing income or a constant regular income?Solution
ICICI Prudential Life Insurance has launched an income plan, ICICI Pru GIFT Pro, which provides customers the option to receive a year-on-year increasing income or a constant regular income. The life cover part will provide financial security to the family. ICICI Pru GIFT Pro offers a range of premium payment terms from 5 to 12 years. The plan, aimed at providing its customers some cushion during inflation, will start giving them income for as long as 30 years from the eighth year onwards. Thereby, the product will help to meet both short- and long-term income needs of its clients.
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What is the rate of compound interest annually?
I. An amount doubles itself in 5 years on
simple interest
II. Difference between th...
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