ICICI Prudential Life Insurance has launched ICICI Pru SmartKid 360, a long-term savings product aimed at helping parents plan systematically for their children’s future financial milestones while offering guaranteed benefits. The product provides MoneyBack or pre-decided payouts aligned with key life stages such as school education, higher studies, and early adulthood goals, with customers having the flexibility to opt for either fixed or increasing payout structures.
Commenting on the launch, Vikas Gupta, Chief Product Officer, ICICI Prudential Life Insurance, said, “ICICI Pru SmartKid 360 has been designed to cater to the parents need to financially secure their child’s future. In addition to the MoneyBack benefits, the product provides a guaranteed maturity benefit in the form of a lump-sum payout, at the end of the policy tenure, which can support the child’s transition into adulthood.”
A key feature of the plan is the inbuilt waiver of premium and continuity of benefits, ensuring that in case of the life assured’s demise, all future premiums are waived, the life cover is paid to the nominee, and policy benefits continue. Optional features such as the Family Income Benefit provide additional income support to families.