ICICI Prudential Life Insurance has launched a new unit-linked insurance plan (ULIP) called ICICI Pru Smart Insurance Plan Plus, targeting young customers looking to build long-term wealth.
The plan allows investments starting at a monthly premium of Rs 1,000. It combines market-linked returns with a life insurance cover and is fully available through a digital purchasing journey.
The plan offers access to 25 funds and four portfolio strategies, along with free fund switching options. Investors can also opt for a premium waiver add-on, which keeps the investment goal on track even if the policyholder is unable to pay future premiums.
Amit Palta, Chief Product and Distribution Officer, ICICI Prudential Life, said the plan targets India’s youth, who make up about 65% of the population.
“This cost-effective and tax-efficient product allows young individuals, including first-jobbers, to start early and stay invested for the long term,” Palta added.
The company said the plan is suitable for first-time earners and individuals looking for a low-cost, tax-efficient investment option. Customers can purchase the policy through a completely digital process.
The plan encourages regular, disciplined investments and provides flexibility to adjust asset allocation over time. It aims to help individuals achieve long-term financial goals while also ensuring financial protection for their families.
ICICI Prudential Life said the launch is part of its broader strategy to offer affordable and flexible insurance solutions for evolving customer needs.
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