ICICI Prudential Life launches industry’s first ‘Increasing Income’ feature in ICICI Pru Guaranteed Pension Plan Flexi to manage inflation

Kolkata, November 26, 2024: ICICI Prudential Life Insurance has launched the ‘Increasing Income’ feature, an industry first, for its regular pay annuity product, ICICI Pru Guaranteed Pension Plan Flexi.

This feature offers customers a five percent increase in the annuity pay-out annually, which can aid retired individuals to cope with inflation.

ICICI Pru Guaranteed Pension Plan Flexi with the ‘Increasing Income’ feature can enable customers to maintain their standard of living as inflation reduces their purchasing power over time.

 

 Amit Palta, Chief Product and Distribution Officer, ICICI Prudential Life Insurance, said, “Annuity products are designed to provide a guaranteed permanent income to retired individuals. We recognise that inflation impacts the standard of living of individuals, especially retirees who don’t get the benefit of a periodic hike in salary. To address this challenge, we have introduced the ‘Increasing Income’ feature. This is the first-of-its-kind feature in the industry being offered in our regular premium payment annuity product – ICICI Pru Guaranteed Pension Plan Flexi.

The introduction of the ‘Increasing Income’ feature exemplifies our approach in delivering enhanced experience to customers by equipping them with the essential resources to navigate their financial journey with confidence.”