ICICI Prudential Life Insurance has launched a new 10-year life cover option under its ICICI PruiProtect Smart Plus plan, offering customers an affordable insurance solution tailored to short-term financial commitments such as home loans, children’s education expenses and business loans.
The insurer said the plan enables customers to opt for higher life cover at lower premiums during the period when financial responsibilities are at their highest. In addition to life insurance protection, the policy includes complimentary health and wellness services worth up to ₹67,100, an instant claims payout of ₹3 lakh and a 100 per cent payout on the diagnosis of a terminal illness, providing added financial support and peace of mind.
ManikandanRajamani, Chief of Distribution, ICICI Prudential Life Insurance, said customer expectations from financial protection continue to evolve with changing life goals. He said the company has introduced the 10-year policy term to offer an affordable protection solution while ensuring meaningful financial security for customers and their families.
For consumers comparing insurance products, the company also highlighted its claims record, reporting an industry-leading claim settlement ratio of 99.3 per cent and an average claim settlement turnaround time of one day during the first quarter of FY2027.
During Q1 FY2027, ICICI Prudential settled death claims worth ₹1,306 crore and paid ₹3,360 crore as maturity and survival benefits. In FY2026, it settled ₹5,149 crore in death claims and disbursed ₹15,363 crore as maturity and survival benefits, underscoring its focus on timely claim settlement and dependable financial protection for policyholders.
