An innovative retirement solution has been launched by ICICI Prudential Life Insurance by combining two variants of its popular ‘Guaranteed Pension Plan’. It offers a guaranteed return on investments. This solution provides customers with increasing regular income that doubles after five years and triples after the 11th year, thereby shielding them against the rising cost of living.
The pandemic has made customers appreciate the importance of financial planning, and this is specially so for life after retirement. The customer-centric retirement or annuity products offered by the Company have enabled it to grow the annuity business segment by 120% in FY2021. ICICI Pru Guaranteed Pension Plan is the Company’s flagship annuity product and offers industry-first features. In recognition of the innovative and industry-first features offered by the Company’s ‘Guaranteed Pension Plan’, it has been voted by consumers as ‘Product of the Year – Retirement and Pension Plans’ category.