Chennai, Nov 12:
ICICI Life Insurance Limited has introduced the ICICI Life Guaranteed Indexed Pension plan, a retirement solution designed to combine lifelong guaranteed annuity payouts with market-linked growth potential.
The product allows policyholders to lock in a guaranteed annuity component ranging between 60 per cent and 100 per cent, while linking the remaining portion to the NIFTY 50 Total Return Index to help counter inflation over extended retirement years. Available in single-life and joint-life variants with return of purchase price on death, the plan also includes an ‘Annuity Advance’ feature permitting customers to withdraw up to 99 per cent of their next five years’ guaranteed annuity as an immediate lump sum.
Commenting on the launch, Vikas Gupta, Chief Product Officer, ICICI Life Insurance, noted that rising life expectancy and living costs require flexible retirement instruments that balance income certainty with capital appreciation, alongside integrated wellness and health management services.