ICICI Prudential Life has introduced the ICICI Pru Guaranteed Pension Plan Flexi with Benefit Enhancer, the first annuity plan in the industry with zero surrender charges. This plan offers a guaranteed income for life, allowing customers to lead financially independent retirement lives.
Customers can choose the Joint Life with Waiver of Premium, which waives off future premiums in the event of the customer’s death. The product benefits are paid out to the second annuitant or joint holder, who can be the spouse, parents, or children.
The plan aligns with IRDAI’s proposed regulations for providing customers with an appropriate and fair surrender value. Additionally, the product offers a loan facility to help manage unexpected financial obligations and maintain retirement planning goals.
