ICICI Prudential Life Launches Innovative Legacy Planning Solution
ICICI Prudential Life Insurance has unveiled ICICI Pru Wealth Forever, a revolutionary product tailored for those seeking effective legacy planning. Offering a blend of increasing life cover and tax-efficient wealth transfer, this product aims to secure financial futures for customers and their beneficiaries.
Enhanced Life Coverage Until Age 99
ICICI Pru Wealth Forever stands out by providing life cover that escalates monthly until the policyholder reaches 99 years of age. Should the policyholder pass away, their beneficiaries will receive the full life cover amount, which is exempt from tax, ensuring a smooth financial transition for the next generation.
Streamlined Wealth Transfer and Policy Returns
This new offering simplifies the legacy planning process significantly. In the case that the policyholder outlives the term, all premiums paid are returned in full. For example, a 55-year-old business owner who invests ₹30 lakh annually for seven years could start with a life cover of ₹1.5 crore, which grows over time. If this individual were to pass away at the age of 85, their nominees would benefit from a colossal ₹10 crore payout, effectively safeguarding the business owner’s legacy and supporting their family financially.
Commitment to Customer Health and Claims Efficiency
Announcing this launch, the Chief Product Officer highlighted the importance of legacy planning, which has gained recognition with the rise in life expectancy and income levels in India. ICICI Pru Wealth Forever not only ensures security for loved ones but also incorporates free health check-ups after three years, helping policyholders maintain their wellbeing.
With an industry-leading claim settlement ratio of 99.3% and an average turnaround time of just 1.1 days for non-investigated claims in the first half of FY2026, ICICI Prudential Life Insurance showcases its dedication to supporting customers when they need it the most. This streamlined approach to claims processing ensures that financial promises are honored quickly and efficiently.
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