ICICI Prudential Life Insurance has announced the launch of its retirement-focused offering, ICICI Pru Guaranteed Pension Plan Flexi (ICICI Pru GPP Flexi), aimed at addressing the growing need for assured income in post-retirement years. The announcement comes against the backdrop of rising longevity in India, with the UNDP’s 2025 Human Development Report noting an increase in life expectancy from 58.6 years in 1990 to 72 years in 2023. Government data further indicates that by 2036, nearly one in seven Indians will be aged 60 years or above.
The ICICI Pru GPP Flexi enables customers to build retirement savings through systematic contributions and receive guaranteed regular income for life. The payout rate is fixed at the time of purchase, ensuring stability and protection from 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 product offers seven flexible options, including Joint Life with Waiver of Premium, and features such as increasing income, top-ups, liquidity through loans, and a full refund option in case of critical illness or permanent disability.
