Pramerica Life Cancer+Heart Shield
Why should you take this plan?
Worrying about financial security and comfort in your golden years is natural. A well-analysed preparation today can go a long way in equipping you to endure rising prices, increasing health costs and deliver to your higher life expectancy. Therefore, you need a plan that not only frees you from your retirement planning stress but also ensures that you continue to receive an income all through your retired life.
Presenting Pramerica Life Saral Pension, a non-linked non-participating individual immediate annuity plan, that puts your savings into an annuity to give you a guaranteed regular income in your retirement years.
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Pay once and secure guaranteed regular income for your entire retired life.
Option to ensure guaranteed income for your spouse even when you are not around
Return of 100% Purchase Price on death of Annuitant(s)
No medical tests are required to purchase this plan
Benefit of higher annuity rates for large premium
Flexibility to avail loan in case of emergency
Flexibility to receive annuity Monthly, Quarterly, Half-Yearly or Yearly
In the unfortunate event of death of the Annuitant(s), the following benefit would
In the unfortunate event of death of the Annuitant(s), the following benefit would be payable in lump sum and the annuity payment shall cease.
Annuity Payments will be made in arrears for as long as Annuitant is
There are no maturity benefits under this plan.
Mode refers to the frequency of Annuity payment as chosen by the Annuitant from
Mode refers to the frequency of Annuity payment as chosen by the Annuitant from the available modes of annuity i.e. yearly, half-yearly, quarterly and monthly. The Annuity shall be payable in arrears i.e. the annuity payment shall commence after 1 year, 6 months, 3 months and 1 month from the Date of Commencement of Policy depending on whether the mode of annuity payment is Yearly, Half yearly, Quarterly and Monthly respectively. Modal factors applicable are mentioned below:
The annuity rates vary by purchase price band and therefore you would benefit from
The annuity rates vary by purchase price band and therefore you would benefit from higher annuity rates corresponding to higher band.
Sample Annuity Rates per 1000 Purchase Price
Annuity Option: Single Life Annuity with Return of 100% of Purchase Price (ROP)
Annuity Option: Joint Life Last Survivor Annuity with Return of 100% of Purchase Price (ROP) on death of the last survivor
Age difference between Joint Life: 0 to 5 years
Age difference between Joint Life: Greater than equal to 6 years
For joint life option, Age at Entry is the age of primary annuitant
Loan can be availed any time after six months from the date of commencement
Loan can be availed any time after six months from the date of commencement of the policy. Under Joint Life option, the loan can be availed by the primary annuitant and on death of the primary annuitant, it can be availed by the secondary annuitant.
The loan interest will be recovered from the annuity amount payable under the policy and the loan outstanding shall be recovered from the claim proceeds.
It is recommended that you continue with your policy to avail all
It is recommended that you continue with your policy to avail all benefits. However, in case of emergency you have an option to surrender the policy at any stage after six months from the date of commencement,
if you, your spouse or any of the children are diagnosed with any of the critical illness specified in the policy document. On surrender, 95% of the Purchase Price shall be paid and the policy shall terminate.
Goods & Service Tax and applicable cess will be charged over and above the quoted Purchase Price.
For policies sold through POS Channel:
Tax Benefits may be available as per the applicable laws as amended from time to time. Please consult your tax advisor for details.
Pramerica Life Saral Pension: UIN No. 140N074V01. This product provides life insurance coverage. Goods & Services Tax will be charged over and above the quoted premium. For more details on risk factors and terms & conditions including policy exclusion, please refer to the detailed plan brochure and policy terms and conditions before concluding a sale.