Coimbatore: ICICI Prudential Life Insurance has launched “ICICI Pru Guaranteed Pension Plan,” a retirement plan that offers guaranteed life-long income.
A non-linked non-participating individual annuity product, it provides customers with the flexibility to choose between Immediate and Deferred Annuity, said the company in a statement.
“The Immediate Annuity option enables customers to start receiving regular income immediately by paying a one-time premium. On the other hand, the Deferred Annuity option gives customers the flexibility to start receiving the income at any point later, for instance closer to their retirement,” it added.