The entry load waiver in mutual fund schemes from August 1 would not help the insurance industry, ICICI Prudential Life Insurance Head Marketing Sujit Ganguli said.
“Mutual fund (MF) is a short term product, while insurance is for longer term product. Besides, the retail participation of MF is quite smaller than the insurance industry, which is present in almost 1,000 towns,” he added.
Ganguli was in town to launch ICICI Prudential’s LifeStage Assure Pension plan today, which assures guaranteed additions of up to 200 per cent of the first year’s premium.
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