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Life Cover
In case of a mishappening, your family is financially protected with the sum assured at the time of policy purchase.
Extra Fund Additions
Guaranteed* additions of upto 10% for males and 11% for female lives, of the premium paid in the 1st policy year.
Return of Mortality Charges 2
Return of Mortality Charges (ROMC) on survival of the life insured till the end of policy term.
Tax Free Returns1
Long Term Capital Gain Tax exemption upto Rs. 2.5 Lac premium per annum.
Zero Charges
Zero Premium Allocation Charge and Zero Policy Administration Charge throughout the policy term
Unlimited Fund Switches at No Extra Cost
Flexibility of unlimited switches and premium re-directions between fund options for maximising market movement or minimising the risk at no additional cost
#T&C: *Guaranteed Additions will be applicable for the first policy year premium only, subject to premium band and premium paying term. ^The fund is 100% allocated to Pramerica Nifty Mid Cap 50 Correlation Fund (SFIN: ULIF017260423NIFMIDICOR140) with returns of 22.47% since inception on 27th July’23 till 31st Oct’25. Past performance is not indicative of future performance. ^^The total benefit is subject to policy being in force and all due premiums fully paid up. The illustration is for 30-year old healthy male under the Wealth Builder option with a Premium Paying Term of 10 years and Policy Term of 25 years. 1Upto ₹2.5 Lac premium per annum. 2On survival of the life insured till end of the policy term.
Financial Illustration with Pramerica Life Smart Invest 1UP
Meet Rohit
30 years old working professional
Investing in Pramerica Nifty Mid Cap 50
Correlation Fund @22.47%^ for 10 years.
(SFIN: ULIF017260423 NIFMIDICOR140)
Tip: Stay invested!
Let time grow your wealth.
0 -5Y
He invests ₹96,000 p.a
for 10 years. Total
investment is
₹ 9.6 Lakhs
At year 10,
With continued investment, his
fund is projected to be
₹ 29.41 Lakh
At year 15,
With continued investment, his
fund is projected to be
₹ 76.14 Lakh
At year 20,
With continued investment, his
fund is projected to be
₹ 1.97 Crore
At year 25,
With continued investment, his
fund is projected to be
₹ 5.10 Crore
Surrender value accrues from year one, but is payable only after the lock-in period (5 Years).
Fund Value Basis ARR **
**ARR (Assumed Rate of Return) refers to the projected assumption for the purpose of illustration, as directed by IRDAI. Please check your fund performance to track its actual return.
| Policy Year | 10Y | 15Y | 20Y | 25Y |
|---|---|---|---|---|
|
Fund Value at ARR 8%
|
₹13,62,127 | ₹18,80,091 | ₹25,95,016 | ₹35,86,381 |
|
Fund Value at ARR 4%
|
₹11,07,867 | ₹12,66,184 | ₹14,47,125 | ₹16,59,074 |
Features of a Pramerica Life Smart Invest 1 UP
Life Cover
Enjoy the benefit of life cover and secure your family's future against the uncertainties of life
2 Plan Options
Fulfil your life goals by choosing from two plan options for different life stage needs. 1. Wealth Builder (You receive a lump sum at the end of the Policy Term to support your long-term financial needs.) 2. Dream Builder (Secure your loved ones’ future in your absence while building a substantial corpus for your and your family’s long-term needs)
Waiver of Premium Option
In the event of the policyholder’s untimely demise, all future premiums as and when due will be paid by the company until the end of the Premium Payment Term keeping the policy in force.
Zero Allocation & Admin Charges
Zero Premium Allocation Charge and Zero Policy Administration Charge throughout the Policy Term
Extra Fund Allocation
Guaranteed* additions of upto 10% for males and 11% for female lives, of the premium paid in the 1st policy year.
Return of Mortality Charges
Return of Mortality Charges (ROMC2) on survival of the Life Insured till the end of the Policy Term
Fund Performance
Mid-Caps: Superior Long-Term Growth Performance.
Historically, mid-cap companies have shown the potential to generate higher long-term returns than large-cap companies due to their faster growth prospects. While they may experience higher volatility, investors with a long-term horizon may benefit from staying invested in their growth journey.
RETURN PROFILE
| INDEX | 1 YR | 2 YR | 3 YR | 5 YR | 10 YR | 15 YR |
|---|---|---|---|---|---|---|
| NIFTY MIDCAP 50 | -4.8% | 18.5% | 22.5% | 27.6% | 17.5% | 12.1% |
| PRAMERICA NIFTY MIDCAP 50 CORRELATION FUND (SFIN: ULIF017260423 NIFMIDICOR140) |
-4.4% | 18.3% | - | - | - | - |
| NIFTY 50 | -2.9% | 12.6% | 11.2% | 16.5% | 11.8% | 10.6% |
| NIFTY SMALLCAP 50 | -9.1% | 21.3% | 23.4% | 25.1% | 11.1% | 8.3% |
Source: Bloomberg; Period for returns data are from 31st Aug 10 – 31st Aug 25. Return profile reflects holding period return for periods less than one year and annualized for those more than one year
This plan is best suited for
Smart investors
Market linked returns with life coverage: ULIPs combine market-linked investment options with life insurance cover, helping investors plan for growth along with protection.
Goal based planners
Seeking long term goals for self and family: Designed for long-term financial goals like education, retirement, or family security through disciplined investing.
Tax savvy planners
Long term capital gain tax exemption: The plan offers tax benefits as per applicable laws, including exemption on maturity proceeds, subject to conditions.
Flexibility seekers
Systematic Transfer Plan: Offers flexibility to move funds gradually between asset classes to manage risk over time at no added cost.
Why choose Pramerica Life insurance?
99.18% Claim Settlement Ratio
Individual Death Claim Paid Ratio as per audited financials for FY 2024-25
125 Branches PAN India
As reported on Nov 2025
8.4 Crore Lives (Individual+Group) Covered
Since inception in 2008, as per audited financials FY'24-25
Frequently Asked Questions
Why should I choose Pramerica Life Smart Invest 1UP?
Pramerica Life Smart Invest 1 UP is a new-age ULIP plan designed to help you build wealth while securing your future. Along with life cover, you get two flexible plan options - Dream Builder and Wealth Builder, allowing you to invest according to your life goals, benefit from market-linked growth and stay prepared for unforeseen financial need
How do I check my eligibility for the plan?
| Parameters/Options | Wealth Builder | Dream Builder |
|---|---|---|
| Age at Entry | Minimum - 0 years (90 days) Maximum – 60 years |
Minimum – 18 years Maximum – 50 years |
| Maturity Age | Minimum - 18 years Maximum - 75 years |
Minimum: 28 years Maximum: 65 years |
| Policy Term | 10-40 Years | |
| Premium Paying Term | 5 years and 10 years | |
What does Guaranteed* Addition mean?
When you pay your first-year premium, the company adds an extra amount to your policy value right at the start.
- For males this is up to 10% of the first year premium
- For females the same is up to 11% of the first year premium
This is an added boost to your investment from day one, even before the market starts working for you. More money invested compounds to better returns in the long run.
Is all my premium actually invested?
Yes. Whatever premium you pay is fully invested into the funds you choose. There are no allocation or admin charges digging into your money, so your investment gets the maximum possible exposure to the market.
Can I switch funds if markets change?
Absolutely. You can switch between funds anytime during the policy term at No extra cost. This gives you the flexibility to adjust your investment based on market conditions, risk comfort or changing goals.
Is the maturity amount taxable?
No. As long as your annual premium is ₹2.5 lakh or less, the maturity amount is tax-free under current tax laws. This is one of the key reasons many people prefer ULIPs for long-term wealth creation.
What is Return of Mortality Charges?
A small charge is deducted during the policy term for providing life cover, called a Mortality Charge. Under this plan, these charges are returned to you at maturity, provided the policy runs its full course. So effectively, you get life insurance coverage at a much lower cost.
What kind of returns should I realistically expect?
Returns depend on market performance and the fund you select. For a perspective, the Pramerica Nifty Mid Cap 50 Correlation Fund (SFIN: ULIF017260423 NIFMIDICOR140) has delivered around 22.47%^ annualized returns since July 2023 till Oct 2025. Markets can move up and down in the short term, but this plan is designed for long-term investors who stay invested.
Is there a lock-in period?
Yes. As per IRDAI guidelines all ULIPs have a 5-year lock-in period. This simply means the plan encourages you to stay invested long enough for the market to work in your favour.
Can I withdraw money if I require at a later stage?
Yes. After the 5-year lock-in period, you can opt for partial withdrawals or systematic withdrawals, subject to policy conditions.Typically:
- You can withdraw a defined percentage of the fund value annually.
- Withdrawals beyond prescribed limits may attract penalties or impact fund value.
This feature offers liquidity while keeping your long-term goals intact.
Can I surrender my plan?
Your policy starts building surrender value from the first year itself. However, this value cannot be withdrawn during the five-year lock-in period from the policy start date. If you choose to surrender the policy within these first five years, the fund value (after applicable discontinuance charges) will be moved to the Discontinued Policy Fund and your insurance and any rider benefits will stop.
Is this plan different from mutual funds?
Pramerica Life Smart Invest 1 UP offers benefits beyond mutual funds, such as:
- Life insurance cover
- Tax-free maturity
- Guaranteed* additions
- Return of mortality charges
While mutual funds focus purely on investment, ULIPs provide a combination of protection, tax efficiency, and disciplined long-term investing.
Who will manage my investment funds?
The funds are managed by Pramerica Life Insurance, following disciplined equity investment strategies. The fund management approach focuses on:
- Long-term capital appreciation
- Risk-managed portfolio construction
- Alignment with investor life goals