ICICI Life launches new retirement plan

Hyderabad: ICICI Prudential Life Insurance Limited has expanded its retirement solutions portfolio with the launch of ICICI Life Guaranteed Indexed Pension, an annuity product designed to combine guaranteed income with inflation-protected market returns.

The new retirement plan blends a Guaranteed Annuity with a Variable Annuity component, allowing policyholders to balance financial stability with growth.

The plans feature Flexible Market Linkage where Customers can allocate between 60% and 100% of their investment to a guaranteed annuity. The remaining portion is linked to the NIFTY 50 Total Return Index (TRI), offering upside potential to help protect retirement funds against inflation.

Vikas Gupta, Chief Product Officer, ICICI Life Insurance, said: “With ICICI Life Guaranteed Indexed Pension, customers can choose the level of guaranteed income they are comfortable with along with the opportunity to benefit from market performance. This flexibility enables them to make informed choices and plan their retirement years with greater confidence and financial security. The product offers single-life and joint-life options with return of purchase price. Upon unfortunate demise of the annuitant or the last surviving annuitant, death benefit equal to total premiums paid would be returned to the nominee.”

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The Hans India