ICICI Prudential Life Insurance has introduced ICICI Pru SmartKid 360, a long-term savings solution designed to help parents secure their children’s financial future through guaranteed benefits and milestone-based payouts. The product offers MoneyBack or pre-decided payouts aligned with important life stages such as schooling, higher education, and early adulthood goals, while allowing customers to opt for fixed or increasing payout options based on their financial planning needs.
Commenting on the launch, Vikas Gupta, Chief Product Officer, ICICI Prudential Life Insurance, said, “ICICI Pru SmartKid 360 has been designed to cater to the parents need to financially secure their child’s future. In addition to the MoneyBack benefits, the product provides a guaranteed maturity benefit in the form of a lump-sum payout, at the end of the policy tenure, which can support the child’s transition into adulthood.”
The product also includes an inbuilt waiver of premium and continuity of benefits, ensuring that future premiums are waived and policy benefits continue in the event of the life assured’s demise. Optional features such as the Family Income Benefit offer additional income support to families.
