ICICI Prudential Life Insurance has launched a new market-linked product — ICICI Pru Smart Insurance Plan Plus — aimed at India’s youth demographic, offering an affordable entry point of just ₹1,000 per month. The product is designed to provide both long-term wealth creation and life cover, making it a cost-effective, tax-efficient solution for first-time investors.
The plan allows policyholders to choose from 25 funds and four portfolio strategies, with the flexibility of free fund switches and zero tax implications. A key feature is the Waiver of Premium add-on, which ensures uninterrupted savings in the absence of the policyholder. The fully digital onboarding process further aligns with the digital-first preferences of today’s younger population.
Amit Palta, Chief Product and Distribution Officer, emphasized that the initiative targets India’s youth, who make up 65% of the population, and aims to empower them to invest early and build financial resilience. The plan is expected to gain traction among emerging professionals and tech-savvy investors seeking low-cost investment avenues. Market watchers note growing interest in ULIPs in the region, particularly among the younger population looking for digitally accessible and flexible financial planning tools. The product is now available for purchase online.
