Icatu expands life‑insurance coverage limits and age eligibility in Brazil

Icatu Seguros, Brazil's largest independent insurer, announced a major upgrade to its individual life‑insurance portfolio. The maximum capital insured has been increased five‑fold, from R$30 million to R$150 million, the highest level offered in the Brazilian market. The age ceiling for purchasing a death‑cover policy has been raised from 75 to 80 years, while the entry age for additional benefits such as serious‑illness and hospital‑daily coverage has been extended from 65 to 75.

The changes target high‑net‑worth clients who use life insurance for succession planning, with premiums starting around R$26 per month. Icatu will also introduce a term‑life product distributed exclusively through the digital platform of investment group XP, leveraging XP’s online channels for sales and servicing. New options without cash‑value will be offered to reduce costs. Details such as pricing, launch dates and specific policy terms were not disclosed.

The move reflects rapid growth in Brazil’s life‑insurance market, where individual policies grew 14 % last year, and positions Icatu to capture affluent customers seeking flexible, customizable protection.