ICICI Prudential Life Insurance has unveiled its latest offering, the ICICI Pru Signature Pension, designed to help customers build a robust retirement fund linked to market performance. This innovative product allows for up to 100% equity exposure and provides tax-free withdrawals of up to 60% of the fund value upon policy maturity.
Mr. Amit Palta, Chief Distribution Officer, emphasized the importance of retirement planning, stating, “We are happy to offer a product that allows customers to participate in the India growth story while ensuring financial independence in retirement.” The plan also features two new funds: ICICI Pru Pension India Growth Fund and ICICI Pru Pension Balanced Fund.
Key benefits include the flexibility to make partial withdrawals for unexpected expenses and the option to waive premiums in the event of critical illness or disability. With an impressive claim settlement ratio of 99.17% in FY2024, ICICI Prudential assures customers of a reliable and efficient service. In regional market, Gangtok seeing increased interest in retirement products, driven by a growing awareness of financial planning. As customers seek secure investment avenues, products like the ICICI Pru Signature Pension are expected to resonate well, aligning with local aspirations for economic growth and stability.
