ICICI Prudential launches ICICI Pru Wish to address women-specific health needs

ICICI Prudential Life Insurance has introduced ‘ICICI Pru Wish’, a health-focused product targeting critical illnesses and surgeries specific to women. This is the first such offering in the life insurance sector and has been developed in collaboration with Reinsurance Group of America, Incorporated (RGA).

The product provides an instant payout of up to 100 per cent of the health cover amount upon diagnosis of critical conditions such as breast, cervical, uterine cancers, and heart ailments. Unlike standard plans that offer reimbursements, ICICI Pru Wish ensures a fixed lump sum payout, giving customers financial flexibility during medical emergencies.

To address concerns over premium increases, the product guarantees the premium for a period of 30 years. This feature enables customers to plan their payments effectively, reducing financial uncertainty. An additional provision allows customers a premium sabbatical of up to 12 months during the payment term, offering financial adaptability for unforeseen circumstances.

ICICI Pru Wish also includes coverage options for maternity-related complications and congenital illnesses in newborns.

Amit Palta, Chief Product and Distribution Officer, ICICI Prudential Life Insurance, stated, “We are delighted to offer ICICI Pru Wish, the life insurance industry’s first health product addressing women-specific health ailments. This product empowers them to be financially prepared by offering a lump sum payout to cover medical exigencies.”

He added, “ICICI Pru Wish has been developed by combining our customer-focused approach and RGA India’s in-depth knowledge on the health challenges faced by Indian women. We believe the women customer segment offers a large market opportunity, and this product has been specifically designed to address the insurance needs of this segment.”

Sunil Sharma, Chief Executive Officer, Reinsurance Group of America, India, remarked, “We are excited to announce our collaboration with ICICI Prudential Life Insurance on ‘ICICI Pru Wish,’ a pioneering health product designed specifically to address the unique needs of Indian women in today’s world. This partnership highlights our mutual dedication to offering innovative, customer-focused solutions for changing market demands.”

ICICI Pru Wish offers multiple claims for certain medical conditions and includes additional payouts to cover rehabilitation costs, providing customers with comprehensive support for health-related challenges.