Pramerica Life Smart Wealth+
Higher protection greater returns
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Wealth
Creation
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Loyalty
Additions
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Fund
Conservation Option
A Unit Linked Non Participating Individual Savings Life Insurance Plan. UIN: 140L041V04
What is Smart Wealth+ Plan?
UIN: 140L041V04
Pramerica Life Smart Wealth+ is a Unit Linked Non-Participating Individual Saving Life Insurance Plan that facilitates wealth creation for your planned milestones in life.
Why choose this plan
Learn more about the plan
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.
Eligibility
Age at Entry##
Minimum: 8 Years
Minimum: 8 Years
Maximum: 55 Years
Maximum Maturity Age##
75 Years
Policy Term
20 Years
Premium Payment Term
5,10,15 or 20 Years
Premium
Minimum Premium:
Frequency
PPT = 5 Years
PPT = 10,15 or 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 Board Approved Underwriting Policy
Sum Assured
A multiple of Annualized Premium as defined below:
Sum Assured Multiplier
Sum Assured Premium Paying Term
Age at entry < 45 Years
Age at entry>= 45 Years to < 50 years
Age at entry >=50
5
7/10
7
5
10,15 or 20
7/10
7/10
5/10
Premium Payment Mode
Annual, Half-Yearly, Quarterly and Monthly*
*Monthly mode of Premium payment is available only through credit card, direct debit and ECS
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Benefits of Buying a Smart Wealth+
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, where Sum
Assured is defined as a multiple of the Annualized Premium.
On survival of the Life Insured till maturity date and subject to
Policy being in force for full risk benefits, the Policy will pay the
fund value to the Policyholder. Death cover and the rider risk
cover chosen will cease on Maturity
The Policy will acquire surrender value from the first Policy
year but it become payable only after completion of 5 complete
Policy years. The surrender value will be the value of units less
discontinuance (or surrender) charges.
This is an option, to preserve your capital towards end of your Policy, when your investments are due to be paid back.
All your investments are systematically transferred from funds of
your choice to Debt Fund in the last three years of your Policy;
on a half-yearly basis. The exposure in your chosen funds is
systematically diverted to Debt Fund at the beginning of every
half-year. 1/N of the units from the funds of your choice at the
beginning of each half year will be switched to the Debt Fund,
where N is the number of half years before maturity.
Tax benefits may be applicable as per prevailing tax laws. Tax
laws are subject to change. Please consult your tax advisor for
details.
Choice of investment strategies
At inception, the Policyholder can choose one of the below investment strategies.
Within the Defined Portfolio Strategy, the Policyholder can choose to invest with or without the Systematic Transfer Plan Option. Once opted in, the investment strategy will continue throughout the policy term. You cannot switch from one investment strategy to another during the policy term.
Under this option, you can choose to invest in any of the funds as available (except discontinued policy fund or Liquid Fund) in proportion to your choice. Within the Defined Portfolio strategy, you also have the option to select the Systematic Transfer Plan (STP) option for which Liquid Fund will be made available to you. You can switch monies amongst these funds using the switch option.
You can choose from Six funds to invest your money in. You can look at the investment objectives of each of our funds to evaluate and match your investment goals to decide the proportion of investment in each of them. If you opt for more than one fund, the minimum investment in any fund should be at least 1% of the Annual Premium paid. The funds and fund objectives are as follows:
Why choose Pramerica Life Insurance?
99.18% Claim Settlement Ratio
Individual Death Claim Paid Ratio as per audited financials for FY 2024-25
134 Branches PAN India
As reported on Mar 2025
Over 5.2 Million Lives Secured
As on September 2023
Unshakeable life insurance products tailored for your needs
Pramerica Life
Super Investment Plan
- Benefit from Zero premium allocation charge in all years
- Return of Mortality & Waiver of Premium Charges on survival till the end of the Policy Term
Pramerica Life
Cancer + Heart Shield
- Covers different stages of Cancer and Heart conditions
- Monthly Income payable as recuperation benefit to meet your needs.
- No need to pay any premium from the date of first claim for next 3 Policy years
Pramerica Life
Rakshak Smart
- Flexibility to choose from two plan options
- Flexible Premium Payment Modes
- Comprehensive death benefit in Enhanced Life Option
A knowledgeable you is an informed you
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Disclaimer:
This product provides Life Insurance coverage. Pramerica Life Smart Wealth+ UIN: 140L041V04. This material gives the salient features of the product. 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. Goods &
Service Tax will be charged over and above the quoted premium. Tax Benefits may be available as per the applicable laws as amended from time to time.
