ICICI Prudential Life Disburses Over ₹900 Crore in Loans Against Traditional Policies in FY2025..

Varahimedia.com,Mumbai, June 5, 2025: ICICI Prudential Life Insurance has disbursed over ₹900 crore in loans against traditional life insurance policies during FY2025, providing liquidity support to

Varahimedia.com,Mumbai, June 5, 2025: ICICI Prudential Life Insurance has disbursed over ₹900 crore in loans against traditional life insurance policies during FY2025, providing liquidity support to more than 42,700 policyholders facing urgent financial needs.

The loan against policy (LAP) facility allows customers to access up to 80% of their policy’s surrender value without disrupting long-term savings or life cover. Notably, over 98% of the loans were processed and disbursed within 24 hours through a completely digital, paperless process.

Highlighting the rising popularity of the feature, ICICI Prudential reported a 60% year-on-year growth in LAP disbursals. About 52% of these loans were availed through digital touchpoints such as the company’s website and mobile app, underscoring the growing trend of tech-enabled financial solutions.

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Mr. Amish Banker, Chief Operations Officer of ICICI Prudential Life, stated, “Loans against policy provide much-needed financial flexibility to customers while ensuring that their long-term investment goals remain intact. Our focus on digitisation has enabled faster, easier access to these funds.”

Importantly, availing loans against policies does not impact customers’ credit scores. Additionally, customers can use the borrowed funds to continue premium payments, thereby maintaining policy continuity and benefits.

As of March 31, 2025, ICICI Prudential Life manages assets worth ₹3.09 lakh crore, with a total in-force sum assured of ₹39.43 lakh crore and over 9 crore lives covered.