ICICI Prudential Life Insurance has launched ‘ICICI Pru Signature Pension’, a market linked pension product enabling customers to build a cost and tax efficient retirement fund. Retirement planning is a crucial activity and a must for all customers to be financially independent. This unique product helps customers to effectively plan for both the accumulation and income generation phases of retirement planning. Market linked retirement savings plan with the option of upto 100% equity exposure. Tax-free withdrawal of up to 60% of the fund value.
Flexibility to make partial withdrawals to meet unexpected financial needs. Waiver of premium add-on benefit ensures continuity of the retirement plan. Two new funds offered – Pension India Growth and Pension Balanced Funds.Mr. Amit Palta, Chief Distribution Officer, ICICI Prudential Life Insurance said, “We are happy to offer ICICI Pru Signature Pension, a market linked product which provides customers the opportunity to participate in the India growth story to build their retirement corpus.
This product allows customers to have a 100% exposure to equity besides offering unlimited free switches between equity, debt and balanced funds to maximise returns.”He concluded, “Our claim settlement ratio of 99.17% in FY2024 for individual death claims, with an average settlement turnaround time of just 1.27 days (non-investigated death claims) is one of the best in the industry.”