ICICI Prudential Life Insurance has introduced ‘ICICI Pru Signature Pension,’ a cutting-edge market-linked retirement savings plan aimed at harnessing the benefits of India’s economic expansion. This innovative product provides up to 100% equity exposure, enabling customers to potentially achieve substantial growth in their retirement funds.
The plan features tax-free withdrawals of up to 60% of the accumulated savings and offers the flexibility of partial withdrawals to address unforeseen financial needs. Additionally, the waiver of premium add-on ensures continuity of the retirement plan in the event of critical illness or permanent disability.
‘ICICI Pru Signature Pension’ includes two new investment options: the Pension India Growth Fund and the Pension Balanced Fund, allowing for diversified investment strategies with unlimited free switches between equity, debt, and balanced funds.A unique aspect of this product is the ability to advance or postpone the income start date, catering to various retirement strategies. ICICI Prudential also highlights its impressive claim settlement ratio of 99.17% for individual death claims in FY2024, with a swift average settlement turnaround of just 1.27 days for non-investigated claims.
