ICICI Prudential Life Insurance Launches 10-Year Life Cover Option

Thrissur : ICICI Prudential Life Insurance has introduced a 10-year life cover option under its ICICI Pru iProtect Smart Plus plan, aimed at individuals with short-term financial liabilities. This offering is designed to support those managing commitments such as home loans, children’s education expenses, and business loans. The new policy term has been launched with the objective of ensuring financial security aligned with different life stages of customers, said Manikandan Rajamani, Chief of Distribution at ICICI Prudential Life Insurance. The plan offers high life cover at an affordable premium and includes complimentary health and wellness services valued up to ₹67,100. It also features an instant claim payout of up to ₹3 lakh and 100% payout upon diagnosis of critical illnesses. The company reported that it settled death claims worth ₹1,306 crore and maturity/survival benefits amounting to ₹3,360 crore during the first quarter of FY2027. Additionally, death claims worth ₹5,149 crore were settled in FY2026, reflecting its strong commitment to policyholders