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. Announcing the launch 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.
Importantly, the product allows customers to make a tax-free withdrawal of up to 60% of the accumulated savings at the end of the policy tenure with the balance required to be deployed to purchase an annuity to receive guaranteed lifelong income.” 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 is one of the best in the industry.”
