ICICI Prudential Life Insurance has launched ICICI Pru SmartKid 360, a long-term savings product designed to help parents plan for their children’s future financial milestones with guaranteed benefits. The plan provides MoneyBack or pre-decided payouts aligned with key stages such as school education, higher studies, or early adulthood needs. Customers can choose either fixed or increasing payout options depending on their financial goals.
Commenting on the launch, Vikas Gupta, Chief Product Officer, ICICI Prudential Life Insurance, said, “ICICI Pru SmartKid 360 has been designed to cater to the parents need to financially secure their child’s future. In addition to the MoneyBack benefits, the product provides a guaranteed maturity benefit in the form of a lump-sum payout, at the end of the policy tenure, which can support the child’s transition into adulthood.”
The product also includes an inbuilt waiver of premium feature, ensuring continuity of benefits if the life assured passes away. Future premiums are waived, the life cover amount is paid to the nominee, and policy benefits continue uninterrupted. Optional add-ons such as the Family Income Benefit provide regular income support to families.
