ICICI Prudential Life Insurance has introduced ICICI Pru Wealth Forever, a new life insurance product aimed at providing a simple and tax-efficient solution for legacy planning. The product is designed for individuals who want to ensure long-term financial security for their families while planning the transfer of wealth in a hassle-free manner.
Under the product, the life cover increases every month and continues to grow until the policyholder reaches the age of 99. In the event of the policyholder’s death, the entire life cover amount is paid to the nominee as a tax-free benefit. If the customer survives the policy term, all premiums paid are returned. The product also offers complimentary health check-ups after three policy years. Explaining the product, the company said a 55-year-old business owner investing ₹30 lakh annually for seven years can start with a life cover of ₹1.5 crore, which keeps increasing. In case of death at age 85, the nominee could receive ₹10 crore as a tax-free payout.
Announcing the launch, Vikas Gupta, Chief Product Officer, said rising incomes and life expectancy have made legacy planning more important. He added that the product enables smooth wealth transfer while also supporting health monitoring. The company said its commitment to customers is reflected in its claim settlement ratio of 99.3% in H1-FY2026, with an average payout time of 1.1 days for non-investigated claims.
