ICICI Pru Signature Pension now comes with a special feature that allows you to extend plan benefits to family members
MUMBAI , Sept. 1, 2026 /PRNewswire/ — Retirement planning is an important part of preparing for long-term financial freedom. While building an adequate retirement corpus can help individuals meet their financial needs after their working years, retirement planning is not limited to an individual. For many, it is about ensuring that the future of spouse or loved one also remains financially secure if life takes an unexpected turn.
Recognising this need, ICICI Prudential Life Insurance has enhanced their market-linked pension plan, ICICI Pru Signature Pension with the Family Secure Option. The option enables customers to include an eligible loved one in their retirement planning journey on a joint-life basis. The option is designed to support continuity of the retirement plan for a loved one even in an unforeseen event.
Mr. Vikas Gupta, Chief Product Officer, ICICI Prudential Life Insurance , said, "Retirement planning is a long-term financial goal. Customers today need solutions that help them work towards their own retirement while also considering the future of a loved one. The Family Secure Option in ICICI Pru Signature Pension has been designed with this need in mind, enabling customers to jointly plan for the retirement with their spouse, child or parent."
"Our endeavour is to offer customers relevant choices that reflect their evolving financial priorities across different stages of life. By supporting long-term financial preparedness for individuals and families, we aim to contribute to the larger vision of 'Insurance for All by 2047'."
Under the Family Secure Option, the policyholder can choose to add a family member as the Secondary Life Assured on a joint-life basis. The Secondary Life Assured can be the spouse, child, parent or sibling of the Primary Life Assured. The option needs to be selected at the time of purchasing the policy.
When the policyholder passes away, 105% of premiums paid will be payable to the Secondary Life Assured. Further, if the policyholder passes away during the Premium Payment Term, future premiums, if payable, are waived and the policy continues. This helps the retirement plan stay on course without requiring the surviving Secondary Life Assured to take on the responsibility of paying future premiums.
On the subsequent passing of the second life assured, the higher of the Fund Value or 105% of the premiums paid will be payable.
ICICI Pru Signature Pension is designed to help customers build a corpus during their working years for their post-retirement financial requirements. As a market-linked pension product, it provides an opportunity for the retirement corpus to grow over the long term, depending on market performance and policy terms.
The Family Secure Option adds another layer of continuity to this journey. The retirement corpus continues to build even if the policy holder passes away during premium payment term, as the future premium are waived off. Thus, the responsibility of paying premiums does not fall on the surviving Secondary Life Assured.
At maturity, up to 60% of the accumulated retirement corpus can be taken as lumpsum to address immediate lump sum needs while the remaining amount can be used to purchase an annuity policy to support future income needs during retirement. This complements the accumulation journey by helping customers transition from building a retirement corpus to using it towards their post-retirement financial requirements.
The Company's servicing track record is reflected in the benefits delivered to policyholders. During Q1-FY2027, ICICI Prudential Life Insurance settled ₹1,306 crore of death claims and paid ₹3,360 crore as maturity and survival benefits. In FY2026, the Company settled ₹5,149 crore of death claims and paid ₹15,363 crore as maturity and survival benefits, reflecting its focus on fulfilling financial commitments to policyholders and their families. With 25 years of operations, ICICI Prudential Life Insurance continues to develop solutions around customers' evolving financial priorities.
To know more about ICICI Pru Signature Pension and to explore the option of purchasing the product online, visit the website
The Board of Directors recently approved a proposal to rename the Company as 'ICICI Life Insurance Limited', subject to relevant approvals. The Company commenced its operations in FY2001 and has consistently been amongst the top life insurance companies in India on sum assured market share and new business premium market share 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.
Source: Read the original article on www.thehindubusinessline.com
