ICICI Prudential Life Insurance has launched ICICI Pru Guaranteed Pension Plan Flexi. It is a regular premium payment annuity product that enables customers to systematically save and build retirement savings over the long term. This product has been specifically designed to address the need of customers to make regular contributions towards building a savings pool and receive a life-long guaranteed income to lead a financially independent retired life.
ICICI Pru Guaranteed Pension Plan Flexi is available in seven variants, the unique ones being Life Annuity with Accelerated Health Boosters and Life Annuity with Booster Payouts. These unique variants have been designed for customers seeking annuity products that offer guaranteed life-long income along with additional liquidity to meet their healthcare and lifestyle needs. With the Accelerated Health Booster option, the customer gets an additional payout on being diagnosed with difficulties in performing activities of daily living. The Booster Payout option provides individuals with five lump-sum payments in addition to their annuity.
The ICICI Pru Guaranteed Pension Plan Flexi Joint Life Annuity option comes with the Waiver of Premium benefit. The product also allows for the Return of Premium and the option to surrender the policy upon diagnosis of specific critical illnesses or permanent disabilities. ICICI Pru Guaranteed Pension Plan Flexi, a multi-purpose and innovative annuity product, provides additional liquidity by making payouts that enable customers to achieve financial goals or meet expenses for medical treatment, as the case may be.
