Pramerica Life Smart Wealth+

Switching option:

You can switch your investments within the available funds, depending on your financial priorities and investment decision. In any year 4 switches are available free of cost. The minimum switch amount is `5000 unless 100% of the fund is switched. 

Premium Redirection:

You have the flexibility to change the proportion of Premium that is invested in different funds by giving an advance notice to the Company. Premium received after this date will be invested as per the revised mandate till the Policyholder does not change the same.

In case you select more than one fund, at least 10% of the allocated Premium should be invested in each fund. Two redirections in a year are available free of cost. 

Partial withdrawals: 

To manage any unexpected need for money or for any exigency, partial withdrawals can be made from your investment account only after completion of 5 Policy years (Lock in Period). Such withdrawals can be made 10 times during the entire term of the Policy.

For policies where life insured is a minor, Partial withdrawal is not allowed until the minor life insured, attains majority i.e. on or after the attainment of age 18.

One or first partial withdrawal in a Policy year is available free of cost. The minimum withdrawal amount is ₹10,000. The amount of a partial withdrawal cannot exceed 25% of the Fund Value at the time of withdrawal.

If there is a partial withdrawal from the unit account then in case of death during two years immediately after partial withdrawal, the Sum Assured will get reduced by the amount of the partial withdrawal. The partial withdrawals shall not be allowed which would result in termination of a contract.

Settlement option:

Upon Maturity of the policy, you will have the option, to receive maturity benefit as a structured payout over a period of up to 5 years post maturity by availing settlement option.