New Delhi, Dec 18 (PTI)

ICICI Prudential Life Insurance on Friday said it has launched ‘ICICI Pru Guaranteed Pension Plan', that offers guaranteed life-long income for retired life.

It is a non-linked non-participating individual annuity product, that provides customers with the flexibility to choose between immediate and deferred annuity, said the insurer.

In the immediate annuity option, customers start receiving regular income immediately by paying a one-time premium. In the deferred annuity plan, one gets the flexibility to start receiving the income at any point later, for instance closer to their retirement.

Customers have the option to defer the start of the income for a period of 10 years. Longer the deferment, higher would be the income.

**** *RBL Bank raises Rs 5cr under CSR initiative

RBL Bank has raised Rs 5.12 crore under its CSR initiative UMEED 1000 to utilise the funds for girl child education.

The proceeds of the initiative will be donated to Udbhav RBL School at Fatehnagar, Hyderabad, a school adopted by the Bank in 2019 catering to underprivileged children, the bank said in a release.

The event this year was conducted in phases, starting off the first leg of the initiative, on October 2, 2020, with a charity challenge, 'Donate Miles to Educate-Support Girl Child'.

The challenge saw employees of RBL Bank and their families walk, run and cycle to donate miles, which were monetized into funds.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)