ICICI Prudential Life launches a market-linked product for the youth
Affordable – minimum monthly premium of just ₹1,000
Offers a cost-effective and tax-efficient wealth creation route
Chennai, June, 2025: ICICI Prudential Life Insurance launched ICICI Pru Smart Insurance Plan Plus, a market linked product designed to enable customers to build wealth over the long-term.
This product can be purchased with a monthly premium of just ₹1000, enabling a large cross section of young customers to systematically invest and achieve their long-term financial goals. The life cover component in the product ensures the family is financially secure in case of any eventuality.
Mr. Amit Palta, Chief Product and Distribution Officer, ICICI Prudential Life Insurance said, “Recently, India achieved the milestone of becoming the 4th largest economy in the world. Also, the country is the fastest growing major economy and pegged to become the 3rd largest by 2028, as per Morgan Stanley. India’s growth story is largely propelled by the youth which constitutes about 65% of the population and keeping this segment in mind, we have introduced ICICI Pru Smart Insurance Plan Plus.
ULIPs, by design, are an effective wealth creation tool, to encourage the youth to start investing early and remain invested for the long-term we launched ICICI Pru Smart Insurance Plan Plus. This cost-effective and tax-efficient product allows the first-jobbers or the youth, in general, to start early with affordable investments, as low as ₹1000 per month. This product will aid the youth to participate in and benefit from India’s growth story to build their wealth over the long term.
Keeping in mind the target segment for the product and their preference to engage with brands and products digitally, we have enabled a complete digital purchase journey.
ICICI Pru Smart Insurance Plan Plus offers customers an array of 25 funds and four portfolio strategies to choose from. Besides, customers can fine tune their asset allocation by switching from one fund to another without any cost or tax implications. Additionally, the product offers customers financial security in the form of a life cover.
We believe wealth creation is a long-term process and requires customers to have a disciplined approach. ICICI Pru Smart Insurance Plan Plus has been designed in a manner which nudges customers to systematically make regular premium payments towards achieving their desired financial goals. Notably, customers can opt for the Waiver of Premium add-on benefit which can ensure the long-term savings goal remains on track even in the absence of the policyholder.”
Mr. Palta further stated, “The launch of this product reinforces our focus on developing products which fulfil the evolving needs of customers. It is a cost-effective tool that empowers individuals to plan for their future on their own terms, with flexibility, clarity and peace of mind.”
About ICICI Prudential Life Insurance (https://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 March 31, 2025, the Company had an AUM of Rs. 3.09 lakh crore and a total in-force sum assured of Rs. 39.43 lakh crore with over 9 crore lives covered. 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.
