Bangalore, 30 June 2026: ICICI Prudential Life Insurance has introduced ICICI Pru iProtect Smart Plus with a 10-Year Life Cover designed for customers with defined financial commitments such as home loans, business loans and children’s education goals. The product provides life cover during a period when financial responsibilities and dependence on income are often at their highest.
For many individuals, the first decade after taking on a major financial commitment can be a phase of heightened financial responsibility. The proposition is particularly relevant for self-employed individuals with business loans of a defined duration, home loan borrowers and parents planning for their children’s education. The 10-Year Life Cover has been designed to align protection with this critical phase, offering an affordable life cover solution.
Commenting on the launch, Mr. Vikas Gupta, Chief Product Officer, ICICI Prudential Life Insurance, said, “Many financial goals such as purchasing a home, building a business or funding a child’s education are linked to defined time horizons. ICICI Pru iProtect Smart Plus has been designed to provide protection during these important years, helping customers safeguard their financial commitments while securing their loved ones’ financial future. It reflects our focus on offering protection solutions that address evolving customer needs at different life stages. Thus, driving insurance penetration in India and contributing to the ‘Insurance for All by 2047’ goal.”
A key feature is that the life cover remains constant throughout the 10-year policy term. This ensures that families have access to the full life cover amount, enabling them to manage not only loan-related obligations but also broader financial needs and future goals.
With this proposition, ICICI Prudential Life Insurance continues to strengthen its protection portfolio by offering solutions that help individuals and families build greater financial resilience.
About ICICI Prudential Life Insurance (www.iciciprulife.com)
ICICI Prudential Life Insurance Company Limited is promoted by ICICI Bank Limited and Prudential Corporation Holdings Limited. The Company began its operations in fiscal year 2001 and has consistently been amongst the top private sector life insurance companies in India on Retail Weighted Received Premium (RWRP) basis. The Company offers an array of products in the Protection and Savings category which match the different life stage requirements of customers, enabling them to provide a financial safety net to their families as well as achieve their long-term financial goals. The digital platform of the Company provides a paperless buying experience to customers, empowers them to conduct an assortment of self-service transactions, provides a convenient route to make digital payments and facilitates a hassle-free claims settlement process.
The Company has introduced ICICI Pru Stack, a first-of-its kind suite of platform capabilities that combines digital tools and analytics. This innovative suite aims to enhance the understanding of customers’ requirements and enable distributors to offer suitable insurance products, deliver seamless experiences, and provide exceptional pre- and post-sale services. By deploying this comprehensive solution, the Company aspires to transform into the most customer-friendly and partnerable insurance provider in the country.
At December 31, 2025, the Company had an AUM of Rs. 3.31 lakh crore and a total in-force sum assured of Rs. 43.44 lakh crore. ICICI Prudential Life is also the first insurance company in India to be listed on both the National Stock Exchange (NSE) Limited and Bombay Stock Exchange (BSE) Limited.
Disclaimer
Except for the historical information contained herein, statements in this release which contain words or phrases such as ‘will’, ‘expected to’, etc., and similar expressions or variations of such expressions may constitute ‘forward-looking statements’. These forward-looking statements involve a number of risks, uncertainties and other factors that could cause actual results, opportunities and growth potential to differ materially from those suggested by the forward-looking statements. These risks and uncertainties include, but are not limited to, the actual growth in demand for insurance and other financial products and services in the countries that we operate or where a material number of our customers reside, our ability to successfully implement our strategy, including our use of the Internet and other technology, our exploration of merger and acquisition opportunities, our ability to integrate mergers or acquisitions into our operations and manage the risks associated with such acquisitions to achieve our strategic and financial objectives, our growth and expansion in domestic and overseas markets, technological changes, our ability to market new products, the outcome of any legal, tax or regulatory proceedings in India and in other jurisdictions we are or become a party to, the future impact of new accounting standards, our ability to implement our dividend policy, the impact of changes in insurance regulations and other regulatory changes in India and other jurisdictions on us. ICICI Prudential Life insurance undertakes no obligation to update forward-looking statements to reflect events or circumstances after the date thereof. This release does not constitute an offer of securities.
