ICICI Prudential Life Introduces 10-Year Life Cover Proposition Tailored For Short-Term Financial Obligations

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.