HT Bureau
GUWAHATI, Jan 16: ICICI Prudential Life Insurance has introduced ICICI Pru Wealth Forever, a new product aimed at offering a simple and tax-efficient solution for legacy planning and long-term financial security for families.
The product provides a life cover that increases every month until the policyholder reaches the age of 99 years. In the event of the policyholder’s death, the entire life cover amount is paid to the beneficiaries as a tax-free benefit.
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If the policyholder survives the full policy tenure, all premiums paid are returned, making it a unique combination of protection and wealth continuity.
Designed specifically for customers seeking a streamlined legacy planning option, the product allows individuals to ensure a smooth transfer of wealth to the next generation.
For example, a 55-year-old investing ₹30 lakh annually for seven years can start with a life cover of ₹1.5 crore, which continues to grow over time.
In case of death at age 85, the nominee could receive up to ₹10 crore as a tax-free payout.
Announcing the launch, Vikas Gupta, Chief Product Officer of ICICI Prudential Life Insurance, said that with rising incomes and longer life expectancy, the need for structured legacy planning has become increasingly important.
He said the product was designed to simplify the process while providing increasing life cover and tax-free benefits to beneficiaries.
He added that the product also includes complimentary health check-ups, enabling customers to actively monitor their health.
Highlighting the company’s service standards, Gupta said ICICI Prudential Life recorded a claim settlement ratio of 99.3 per cent in the first half of FY2026, with an average turnaround time of 1.1 days for non-investigated claims.
