Amid rising life expectancy and growing concerns over post-retirement financial security, ICICI Prudential Life Insurance has introduced ICICI Pru Guaranteed Pension Plan Flexi (ICICI Pru GPP Flexi), a product designed to offer assured income for life. According to the UNDP’s 2025 Human Development Report, India’s life expectancy has increased from 58.6 years in 1990 to 72 years in 2023, while government data suggests that by 2036, nearly one in seven Indians will be aged 60 or above.
The ICICI Pru GPP Flexi allows individuals to build retirement savings through systematic contributions and receive guaranteed regular income for life. Importantly, the income payout rate is fixed at the time of purchase, insulating policyholders from market-linked interest rate fluctuations.
Commenting on the launch, Vikas Gupta said, “Retirement planning is driven by one core need – certainty of income for life. ICICI Pru Guaranteed Pension Plan Flexi is designed to deliver this certainty through a simple and flexible structure.” The plan offers seven flexible options, including Joint Life with Waiver of Premium, along with features like increasing income, top-ups, liquidity through loans, and a full refund option in cases of critical illness or permanent disability.
