ICICI Life Insurance Launches Guaranteed Indexed Pension Plan Combining Lifelong Guaranteed Income With Index Linked Growth Potential

ICICI Life Insurance Limited has launched the ICICI Life Guaranteed Indexed Pension, a retirement income product that offers customers a combination of guaranteed annuity and variable annuity. Announced in Mumbai on October 22, 2026, the product provides income stability through its guaranteed component while helping customers protect against inflation through index linked variable income. A key feature of the product is the flexibility to choose a guaranteed annuity component ranging from sixty to one hundred percent, with the remaining portion linked to the NIFTY 50 Total Return Index, enabling customers to participate in the market and secure upside potential for retirement income in their golden years. According to Vikas Gupta, Chief Product Officer at ICICI Life Insurance, increasing life expectancy requires individuals to plan for longer retirement periods, and the product allows customers to choose a comfortable level of guaranteed income alongside market performance benefits to plan their retirement with greater confidence and financial security.

The product offers single life and joint life options with a return of purchase price, ensuring that upon the unfortunate demise of the annuitant or the last surviving annuitant, a death benefit equal to the total premiums paid is returned to the nominee. To address immediate liquidity needs, the product features an Annuity Advance option, allowing customers to receive up to ninety-nine percent of up to the next five years of guaranteed annuity in advance as a lump sum. Customers can also choose to receive annuity payouts on a monthly, quarterly, half yearly, or yearly basis according to their financial requirements. Additionally, the plan offers value added services such as health management and wellness support to assist customers as they prepare for and navigate retirement, strengthening the company retirement solutions portfolio and reinforcing its commitment to making financial planning simpler in line with its brand promise of making Har Kal Aasaan for its stakeholders.