In this policy, the investment risk in investment portfolio is borne by the policyholder.
A UNIT LINKED NON-PARTICIPATING INDIVIDUAL SAVINGS LIFE INSURANCE PLAN
Guaranteed extra allocation to the fund (Additional 10% allocation for female lives)
Zero premium allocation and admin charges throughout the policy term
Waiver of future premium along with monthly income for your loved ones*
*In case of demise of the Life Insured.
UIN: 140L081V01
Enjoy the benefit of life cover and secure your family’s future against uncertainties of life.
Fulfil your life goals by choosing from three plan options namely Wealth Builder, Dream Builder & Legacy Builder for different life stage needs.
in all years and watch your wealth grow faster.
Get Extra Allocation to the Fund and an additional 10% Extra Allocation for female lives.
Monthly Income in Dream Builder plan option to support your family in case of unfortunate event of death.
Return of Mortality Charges on survival of the Life Insured till the end of the Policy Term or on the 70th birthday depending upon the plan option.
Flexibility of unlimited switches and premium re-directions between fund options to take advantage of market movement or change in risk preference at no additional cost.
Cater to your recurring monetary needs through a Systematic Withdrawal facility.
Choice of two investment strategies and six fund options to suit your varied investment needs.
Avail additional benefits while enjoying the peace of mind knowing that your loved ones are financially protected and also having the potential to earn higher returns on your investments
In case of an unfortunate demise of the Life Insured during the Policy Term provided all due premiums are paid, the following benefits shall be payable:
Death Benefit shall be higher of
Where, Sum Assured is a multiple of Annualized Premium/Single Premium chosen at the inception of the Policy
Death Benefit shall be
**Sum Assured will be reduced to the extent of partial withdrawals made in the last 2 years immediately preceding the date of death. The partial withdrawal made from the Top-Up premium shall not be reduced for this purpose
$AP refers to Annualized Premium
On survival of the Life Insured till maturity date, the Fund Value including Top-Up fund value, if any, shall be payable and the policy shall terminate.
The policy will acquire surrender value immediately from first policy year. However, no surrender value will be payable during the “lock in period”, which is a period of five consecutive Policy year from the date of commencement of the Policy.
If the Policyholder opts for surrender within first five Policy years, the Fund Value, after deducting the applicable discontinuance charges, shall be credited to the Discontinued Policy Fund and the risk cover and rider cover, if any, shall cease. The proceeds from the discontinuance fund shall be paid at the end of the lock in period as Surrender Value. Only fund management charge shall be deducted from this fund during this period.
The income earned on this fund shall be at least the minimum rate as prescribed by the IRDAI from time to time. The current prescribed minimum guaranteed rate of interest applicable is 4% percent per annum. The excess income earned in the discontinuance fund over and above the minimum guaranteed interest will also be accounted to the discontinuance fund.
If the Policyholder opts for surrender after the completion of the fifth policy year, the Fund Value including the Top-up Fund Value, if any will be paid.
Extra Allocation is defined as a percentage of SP# /AP$ as given in the table below. This is allocated to the fund at the time of Premium Allocation which results in higher allocation for the Policyholder. Further, for Female Life an additional 10% Extra Allocation is allocated to the fund value.
#Single Premium $AP refers to Annualized Premium
Choose an investment strategy of your choice to make the most of your plan
Defined Portfolio Strategy
Under this option, you can opt to invest in any of the funds as available (except discontinuance fund or Liquid Fund) in proportion of your choice
Lifestage Portfolio Strategy
We offer a life stage-based investment strategy wherein the investments are distributed between Large Cap Equity Fund and Debt Fund with their proportions varying as per the different life stages
On Survival of the Life Insured till the end of the Policy Term, an amount equal to the total of all the Mortality Charges deducted during the Policy Term (including mortality charge deducted on Top-Up Sum Assured as applicable) will be added to the total Fund Value (Base Fund value plus Top Up Fund value) at the Maturity Date provided the Policy is in force and all due premiums have been received in full as on the Maturity Date.
Total cumulative amount of mortality charges deducted till age 70 will be added to the fund value at the end of policy year (including mortality charge deducted on top-up Sum Assured as applicable) coinciding or immediately following 70th birthday of Life Insured.
The Return on Mortality Charges is subject to following (for all options)
Choose any one of the three available plan options
Choose your Annualized Premium / Single Premium, Policy Term, Premium Payment Term, Sum Assured Multiple, Payment Mode
Choose your investment strategy and fund allocation
Age## at entry
For SP (10 times of SP$) - Life Insured: 0 years (901 days) to 50 years
For others - Life Insured: 0 years (901 days) to 60 years
Maturity age##
Minimum
18 years
Maximum For SP(1.25/1.10 times of SP$)
75 Years
For SP(10 times of SP$)
60 Years
For LP/ RP
Premium paying term (PPT)
SP
LP – 5,7 and 10 years
RP– 10 to 40 years
Policy term
10 years
Maximum
40 years
Premium (Rs.)
Premium Payment Mode
Min
Single Pay
Rs. 50,000
Annual
Rs.12,000
Semi-Annual
Rs.6,000
Quarterly
Rs. 3,000
Monthly
Rs. 1,000
Max
No Limit; subject to Board Approved Underwriting Policy
Sum Assured (Rs.)
LP/RP - Sum Assured Multiple of 7 times or 10 times of AP$ for Age<50 Sum Assured Multiple of 5 times or 10 times of AP$ for Age>=50
Single Pay - Sum Assured Multiple of 1.25 times or 10 times of SP$ for Age<50 Sum Assured Multiple of 1.10 times or 10 times of SP$ for Age>=50
Premium Payment Frequency
Mode
Monthly*
Top-up Premium
Minimum Top up Premium
Rs.5,000
Maximum Top up Premium
As per BAUP (Board Approved Underwriting Policy)
SP – Single Pay, RP – Regular Pay, LP – Limited Pay
## Age as on last birthday
*Monthly mode of Premium payment is available only through credit card, direct debit and ECS
1In case the Life Insured is a minor at the date of commencement,
a. Policy vests in the Life Insured on attainment of his/her majority i.e. 18 years.
b. The proposer can either be a parent or grandparent or legal guardian of the Life Insured, or any other relation subject to insurable interest between the proposer and Life Insured. The ownership of such policies will vest automatically in name of Life Insured once he/she attains majority. The right of Appointee will extinguish on the attainment of majority of Life Insured.
Life Insured(Min):
Life Insured(Max):
50 years
28 years
Max:
65 Years
LP
5,7 and 10 years
RP
10 to 40 years
0 years (901 days )
60 years
99 years
99 Years
5,7,10 to 70 minus Age at Entry
PPT 5
Max Entry age 40 years
PPT 7
Max Entry age 50 years
PPT 10 and above:
Max Entry age 60 years
99 minus Age at Entry
Brochure
Rates
T&C Pramerica Life Smart Invest
CUSTOMER_INFORMATION_SHEET -Pramerica Life Smart Invest
Individual death claims settled and reported in public disclosures for FY 2023-24
As reported in Annual Report for FY 2023-24
As on September 2023
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