Pramerica Life Smart Wealth+

Pramerica Life Smart Wealth+ is a Unit Linked Non-Participating Life Insurance Plan that facilitates wealth creation for your planned milestones in life.

Reasons to buy this plan

  • Life Cover for your family with high returns to help meet increasing expenses
  • Protection and wealth creation

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Key Features

Know about this plan

Plan Benefit

Maturity Benefit

On survival of the Life Insured till maturity date, subject to Policy being in force for full risk benefits, the fund value will be paid to the Policyholder. Death cover will cease on Maturity.

On survival of the Life Insured till maturity date, subject to Policy being in force for full risk benefits, the fund value will be paid to the Policyholder. Death cover will cease on Maturity.

Death Benefit:

In case of an unfortunate demise of the Life Insured during the Policy Term, the Policy

In case of an unfortunate demise of the Life Insured during the Policy Term, the Policy will pay Death Benefit which is equal to higher of Sum Assured or Fund Value subject to a minimum of 105% of total Premiums paid till date of death. Subject to policy being in force for full risk benefits.

Sum Assured is defined as a multiple of Annualised Premium:


Premimum Paying Term Sum Assured Multiple
Age at entry < 45 Years Age at entry >= 45 Years
5 Years 10 7
10,15 or 20 Years 10 10

Fund Conservation

This is an option to preserve your capital towards the end of your Policy when your investments are due to be paid back.

This is an option to preserve your capital towards the end of your Policy when your investments are due to be paid back. All your investments are systematically transferred from the Balance Fund, Growth Fund and Large Cap Equity Fund to Debt Fund in the last three years of your Policy on a half-yearly basis at the beginning of every half year. All premium received during this year will be redirected to Debt Fund.

Persistency Units

As a reward for continuing your Policy, Persistency Units equal to 1% of the average of Fund Value at preceding 36 months will be allocated to the Policyholder

As a reward for continuing your Policy, Persistency Units equal to 1% of the average of Fund Value at preceding 36 months will be allocated to the Policyholder's unit account at the end of the 10th, 15th, and 20th Policy anniversaries provided the Policy is in force.

Choice of Investment Funds

You have an option to choose from five funds to invest your money in.

You have an option to choose from five funds to invest your money in. You can look at the investment objectives of each of our funds and match those with your investment goals and then decide the proportion of money you would like to invest in each of them. If you are opting for more than one fund, the minimum investment in any fund should be at least 10% of the Premium allocated. The fund and fund objectives are as follows:


Fund Investment objective Asset Allocation Risk profile
Debt fund (SFIN: ULIF00127/08 /08FIXEDIFUND140) To generate steady return at lower risk by investing in a range of debt securities. Government securities: 50% to 100% Corporate bonds: 0% to 50% Money Market/cash: 0% to 40% Low
Balance Fund (SFIN: ULIF00227/08 /08BALANCFUND140) To generate balance return by investing in debt securities to provide stability and by investing in equities to provide potential to enhance the return through capital appreciation. Equity: 10% to 50% Government securities: 20% to 50% Corporate bonds: 0% to 50% Money Market/cash: 0% to 40% High
Growth Fund (SFIN: ULIF00327/08 /08GROWTHFUND140) To generate higher return through capital appreciation in the long term by investing in a diversified equities. Debt investment will provide a little stability and diversification. Equity: 40% to 80% Government securities: 10% to 30% Corporate bonds: 0% to 30% Money Market/cash: 0% to 40% High
Large Cap Equity Fund (SFIN: ULIF00427/08 /08LARCAPFUND140) To generate higher return through capital appreciation in long term from a portfolio predominantly in large cap equities. Equity: 60% to 100% Money Market/cash: 0% to 40% High
Multi Cap Opportunities Fund(SFIN: ULIF01106/02 /18MULCAPOPPO140) To generate capital appreciation for policyholders by dynamically investing across assets to capitalize on changing market conditions. The scheme aims to invest primarily in equities and to mitigate market volatility, in fixed income securities, including money market instruments. The investments will be market capitalization agnostic and will focus on growth oriented opportunities. Equity: 50%-100% Govt. Securities, Corporate Bonds: 0%-30%, Money Market Instruments/Cash: 0%-50% High

In addition to above funds, an additional fund will be maintained for discontinued policies with the following asset allocation and SFIN.


Fund Name Asset Allocation SFIN Risk Profile
Discontinued Policy Fund Government Securities: 60% to 100% Money Market/cash: 0% to 40% ULIF01024/02 /11DISCONFUND140 Low

The minimum guaranteed rate of interest applicable to Discontinued Policy Fund will be specified by the Authority from time to time.

Policy Surrender

The Policy will acquire surrender value from the first Policy year but it becomes payable only after completion of 5 complete Policy years. The surrender value will be the value of units less discontinuance or surrender charges.

The Policy will acquire surrender value from the first Policy year but it becomes payable only after completion of 5 complete Policy years. The surrender value will be the value of units less discontinuance or surrender charges.

Discontinuance of Premium Payment

For the Policy discontinuance due to non-payment of premium, provision of discontinuance will be applicable as per Linked Insurance Product Regulations 2019. Please refer to the detailed plan brochure for further details.

For the Policy discontinuance due to non-payment of premium, provision of discontinuance will be applicable as per Linked Insurance Product Regulations 2019. Please refer to the detailed plan brochure for further details.

Please refer to sales brochure for further details

Eligibility Criteria

Entry Age*

Min

8 Yrs

Max

55 Yrs

Maximum Maturity Age

75 Yrs

Policy Term

20 Yrs

Premium Payment Terms (PPT)

  1. 5 Yrs
  2. 10 Yrs
  3. 15 Yrs
  4. 20 Yrs

Sum Assured

A multiple of Annualized Premium as defined below:
Premium Paying Term Age at Entry < 45 Years Age at Entry >= 45 Years
5 10 7
10,15 or 20 10 10

Premium Payment modes

Frequency Premium Payment Term
  5 Years 10, 15, 20 Years
Annual +36,000 +30,000
Half-Yearly +45,000 +36,000
Quarterly +50,000 +42,000
Monthly# +60,000 +48,000

Maximum Premium:

5 Crores (Subject to underwriting)

* Age as on last birthday  # Monthly Mode of Premium Payment is available only through Credit Card, Direct Debit and ECS

Downloads

Brochure

Policy Schedule and T & C

Maturity Benefit

On survival of the Life Insured till maturity date, subject to Policy being in force for full risk benefits, the fund value will be paid to the Policyholder. Death cover will cease on Maturity.

On survival of the Life Insured till maturity date, subject to Policy being in force for full risk benefits, the fund value will be paid to the Policyholder. Death cover will cease on Maturity.

Death Benefit:

In case of an unfortunate demise of the Life Insured during the Policy Term, the Policy

In case of an unfortunate demise of the Life Insured during the Policy Term, the Policy will pay Death Benefit which is equal to higher of Sum Assured or Fund Value subject to a minimum of 105% of total Premiums paid till date of death. Subject to policy being in force for full risk benefits.

Sum Assured is defined as a multiple of Annualised Premium:


Premimum Paying Term Sum Assured Multiple
Age at entry < 45 Years Age at entry >= 45 Years
5 Years 10 7
10,15 or 20 Years 10 10

Fund Conservation

This is an option to preserve your capital towards the end of your Policy when your investments are due to be paid back.

This is an option to preserve your capital towards the end of your Policy when your investments are due to be paid back. All your investments are systematically transferred from the Balance Fund, Growth Fund and Large Cap Equity Fund to Debt Fund in the last three years of your Policy on a half-yearly basis at the beginning of every half year. All premium received during this year will be redirected to Debt Fund.

Persistency Units

As a reward for continuing your Policy, Persistency Units equal to 1% of the average of Fund Value at preceding 36 months will be allocated to the Policyholder

As a reward for continuing your Policy, Persistency Units equal to 1% of the average of Fund Value at preceding 36 months will be allocated to the Policyholder's unit account at the end of the 10th, 15th, and 20th Policy anniversaries provided the Policy is in force.

Choice of Investment Funds

You have an option to choose from five funds to invest your money in.

You have an option to choose from five funds to invest your money in. You can look at the investment objectives of each of our funds and match those with your investment goals and then decide the proportion of money you would like to invest in each of them. If you are opting for more than one fund, the minimum investment in any fund should be at least 10% of the Premium allocated. The fund and fund objectives are as follows:


Fund Investment objective Asset Allocation Risk profile
Debt fund (SFIN: ULIF00127/08 /08FIXEDIFUND140) To generate steady return at lower risk by investing in a range of debt securities. Government securities: 50% to 100% Corporate bonds: 0% to 50% Money Market/cash: 0% to 40% Low
Balance Fund (SFIN: ULIF00227/08 /08BALANCFUND140) To generate balance return by investing in debt securities to provide stability and by investing in equities to provide potential to enhance the return through capital appreciation. Equity: 10% to 50% Government securities: 20% to 50% Corporate bonds: 0% to 50% Money Market/cash: 0% to 40% High
Growth Fund (SFIN: ULIF00327/08 /08GROWTHFUND140) To generate higher return through capital appreciation in the long term by investing in a diversified equities. Debt investment will provide a little stability and diversification. Equity: 40% to 80% Government securities: 10% to 30% Corporate bonds: 0% to 30% Money Market/cash: 0% to 40% High
Large Cap Equity Fund (SFIN: ULIF00427/08 /08LARCAPFUND140) To generate higher return through capital appreciation in long term from a portfolio predominantly in large cap equities. Equity: 60% to 100% Money Market/cash: 0% to 40% High
Multi Cap Opportunities Fund(SFIN: ULIF01106/02 /18MULCAPOPPO140) To generate capital appreciation for policyholders by dynamically investing across assets to capitalize on changing market conditions. The scheme aims to invest primarily in equities and to mitigate market volatility, in fixed income securities, including money market instruments. The investments will be market capitalization agnostic and will focus on growth oriented opportunities. Equity: 50%-100% Govt. Securities, Corporate Bonds: 0%-30%, Money Market Instruments/Cash: 0%-50% High

In addition to above funds, an additional fund will be maintained for discontinued policies with the following asset allocation and SFIN.


Fund Name Asset Allocation SFIN Risk Profile
Discontinued Policy Fund Government Securities: 60% to 100% Money Market/cash: 0% to 40% ULIF01024/02 /11DISCONFUND140 Low

The minimum guaranteed rate of interest applicable to Discontinued Policy Fund will be specified by the Authority from time to time.

Policy Surrender

The Policy will acquire surrender value from the first Policy year but it becomes payable only after completion of 5 complete Policy years. The surrender value will be the value of units less discontinuance or surrender charges.

The Policy will acquire surrender value from the first Policy year but it becomes payable only after completion of 5 complete Policy years. The surrender value will be the value of units less discontinuance or surrender charges.

Discontinuance of Premium Payment

For the Policy discontinuance due to non-payment of premium, provision of discontinuance will be applicable as per Linked Insurance Product Regulations 2019. Please refer to the detailed plan brochure for further details.

For the Policy discontinuance due to non-payment of premium, provision of discontinuance will be applicable as per Linked Insurance Product Regulations 2019. Please refer to the detailed plan brochure for further details.

Please refer to sales brochure for further details

Entry Age*

Min

8 Yrs

Max

55 Yrs

Maximum Maturity Age

75 Yrs

Policy Term

20 Yrs

Premium Payment Terms (PPT)

  1. 5 Yrs
  2. 10 Yrs
  3. 15 Yrs
  4. 20 Yrs

Sum Assured

A multiple of Annualized Premium as defined below:
Premium Paying Term Age at Entry < 45 Years Age at Entry >= 45 Years
5 10 7
10,15 or 20 10 10

Premium Payment modes

Frequency Premium Payment Term
  5 Years 10, 15, 20 Years
Annual +36,000 +30,000
Half-Yearly +45,000 +36,000
Quarterly +50,000 +42,000
Monthly# +60,000 +48,000

Maximum Premium:

5 Crores (Subject to underwriting)

* Age as on last birthday  # Monthly Mode of Premium Payment is available only through Credit Card, Direct Debit and ECS

Brochure

Policy Schedule and T & C

NOTE: IN THIS POLICY, THE INVESTMENT RISK IN THE INVESTMENT PORTFOLIO IS BORNE BY THE POLICYHOLDER. This product does not offer any liquidity during the first five years of the contract. The Policyholder will not be able to surrender/withdraw the monies invested in this product completely or partially till the end of the fifth Policy year.

Pramerica Life Smart Wealth+: UIN No. 140L041V03.This product provides life insurance coverage. Goods & Services Tax will be charged over and above of the applicable charges from the unit fund. 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. Please refer Rider sales brochure before concluding the sale.