Pramerica Life Traditional Plans

There are more than 10 savings plan offered by Pramerica Life. Read more to know the features and eligibility criteria for the same.

Note: All information related to product benefits and eligibility has been sourced from the official website of Pramerica Life.

Pramerica Life Secure Savings Plan

This is a savings and protection plan which offers guaranteed annual income in addition to a lump sum savings booster.

Product Benefits

• Flexibility in choosing your premium payment term along with life cover.
• You will get Guaranteed Benefits on Death or Maturity and Guaranteed Annual Payouts.
• Death benefit payable will be 11 times the Annualized Premium (or) 105% of all the premiums paid till date of death (or) Maturity Sum Assured = (One Annual Payout (multiplied by) Lump Sum Factor for annual payout) (plus) Saving booster (multiplied by) Lump Sum Factor for savings booster) (or) Guaranteed amount assured to be paid on death, which is the Base Sum Assured.
• Maturity benefit payable is Annual Payouts during the Payout Period, plus Savings Booster with last Annual Payout Installment. Annual Payouts will be 150% or 175% of Annualized Premium, based on Premium Payment Term and Savings Booster is Annualized Premium multiplied by Savings Booster Multiple.
• You have an option to accept maturity benefits as a lump sum amount.

Pramerica Life Magnum Assure

This is non-participating endowment insurance plan which provides guaranteed benefits to boost your savings.

Product Benefits

• Facility to take a loan against the policy.
• Guaranteed monthly income post completion of policy term.
• Death benefit payable will be Death Sum Assured in the form of equal monthly payouts during the payout period.
• Death Sum Assured will be highest of Base Sum Assured or Maturity Sum Assured or 10 times of the Annualized Premium or 105% multiplied by all the premiums paid (excludes underwriting extra) as of date of death where, Base Sum Assured = Annualized Premium X Policy Term (in years) X Death Benefit Multiple.
• Maturity benefit will be in the form of regular monthly payouts during the payout period where monthly maturity benefit is Annualized Premium X Maturity Benefit Multiple) / 12.
• Option to receive the same as a lump sum amount.

Eligibility Details

Pramerica Life Smart Money Back

This is a participating endowment plan which provides benefits in the form of periodic payouts.

Product Benefits

• Facility to take a loan against your policy.
• Flexibility to choose your policy and premium payment terms.
• You are entitled to bonus additions to your policy.
• Death benefit payable will be 11 times the Annualized Premium along with Accrued Reversionary Bonuses, if any, plus Interim and Final Bonus. The minimum Death Sum Assured along with Bonuses will be at least 105% multiplied by all the Premiums paid (excluding underwriting extra Premium, if any) as on date of death.
• Maturity benefit will comprise of Accrued Reversionary Bonus and Final Bonus, if any.
• Survival Benefit is paid starting from end of every 4th policy year for 16 years policy Term and from end of every 5th policy for 20 years policy term.

Eligibility Details

Pramerica Life Smart Income

This is a non-participating guaranteed annual income plan with multiple options for customizing your policy.

Product Benefits

• You will receive guaranteed annual income for a specific duration equivalent to the premium payment term.
• Flexibility to choose premium paying terms in addition to availing loan against the policy.
• Death benefit payable will be highest of Base Sum Assured (11 times of Annualized Premium) or Maturity Sum Assured or 105% of all the Premiums (excluding underwriting extra Premium, if any) paid till the date of death, Where Maturity Sum Assured is Annualized Premium x Maturity Benefit Multiplier (MBM) x lump sum factor.
• Maturity benefit payable will be in the form of annual payout, where annual payout is Annualized Premiumx Maturity Benefit Multiplier (MBM).

Eligibility Details

Pramerica Life Premier Gain

This is a participating non-linked endowment insurance plan which entitles you to get attractive returns.

Product Benefits

• Option to take a loan against your policy.
• You will receive Bonus Additions over the policy tenure.
• Death benefit payable will be the sum of Death Sum Assured, Accrued Reversionary Bonuses and Interim and Final Bonus, if any, where Death Sum Assured would be highest of 10 times of Annualized Premium or Base Sum Assured.
• Maturity benefit payable will be Base Sum Assured along with Accrued Reversionary Bonus and Final Bonus, if any.

Eligibility Details

Pramerica Life Smart Assure Plan

This is a non-participating endowment insurance plan which provides a guaranteed maturity and death benefit.

Product Benefits

• You have the flexibility to take a loan against the policy and an option to select your premium payment term.
• You are entitled to Guaranteed Maturity Benefit.
• Death benefit payable will be the Death Sum Assured where Death Sum Assured is higher of Base Sum Assured or 11 times of Annualized Premium or Maturity Sum Assured, if Life Insured’s age at entry is less than 45 years or a Higher of Base Sum Assured or 7 times of Annualized Premium or Maturity Sum Assured if Life Insured’s age at entry is greater than or equal to 45 years.
• Maturity benefit payable will be Maturity Sum Assured plus Maturity additions.
• You also have Automatic Cover Continuance.

Eligibility Details

Pramerica Life Aajeevan Samriddhi

This is a whole life participating insurance and savings plan which provides financial protection till the age of 99 years.

Product Benefits

• You get whole life cover till the age of 99 years.
• You will receive Guaranteed Additions accrued for initial 5 years of the policyand Bonus post completing 5 years of policy termtill Policyholder attains age 65.
• Death benefit payable will be Basic Death Benefit plus Accrued Guaranteed Additions plus Accrued Reversionary Bonuses plus Final Bonus (If any), depending on the year of death since the commencement of the policy.
• Survival benefit payable will be Accrued Reversionary Bonuses plus Accrued Guaranteed Additions. (At the age of 65 years)
• Maturity benefit will be Basic Sum Assured plus Final Bonus, if any.

Eligibility Details

Pramerica Life Roz Sanchay

This is a limited pay non-participating guaranteed endowment plan which offers combined benefits of savings and a protection plan.

Product Benefits

• Option to take a loan against the policy.
• Flexibility to select the premium payment term (12 or 16 years).
• Death benefit payable will be Base Death Benefit along with the Accrued AGAs, where, Base Death Benefit is 150% of Base Sum Assured in the first Policy Year increasing by an amount equal to 5% of the Base Sum Assured for every completed Policy Year till the end of the policy term.
• Death benefit is highest of 10 times the Annualized Premium or 150% of the Base Sum Assured or 105% of the premium paid (excluding underwriting extra and service tax, if any) as on date of death if the age of entry is less than 45 years.
• If the age of entry is 45 years or higher, the death benefit is highest of 7 times the Annualized Premium or 150% of the Base Sum Assured or 105% of the premium paid (excluding underwriting extra and service tax, if any) as on date of death.
• Maturity benefit will be the sum of 150% of the Base Sum Assured and accrued Annual Guaranteed additions, subject to policy being in force for full Policy Benefits and all due premium have been paid.
• You will be entitled to Annual Guaranteed Addition.

Eligibility Details

Pramerica Life Flexi Cash Plan

This is a participating non-linked endowment plan with a flexible option to access your savings at any time during the flexi benefit period.

Product Benefits

• Flexibility to prepone the maturity date during the flexi benefit period.
• You will get Guaranteed Loyalty Benefit of 10% of the Annualised Premium each year from the second year of the policy.
• Death benefit payable will be Death Sum Assured along with accrued Reversionary Bonus and Final Bonus, if any.
• Death Sum Assured is highest of 10 times the Annualized Premium or 100% of base sum assured if the age at entry is less than 45 years.
• Death Sum Assured is highest of 7 times the Annualized Premium or 100% of base sum assured, if the age at entry if 45 years or higher. The death sum assured together with bonuses shall be at least equal to 105% multiplied by sum of all the premiums paid as on date of death.
• Maturity benefit will be equal to 100% of Base Sum Assured chosen at inception PLUS Accrued Reversionary Bonus PLUS Final Bonus if any.
• The flexi benefit period can vary from 10 and 15 years, 15 and 25 years or 20 and 35 years.

Eligibility Details

Pramerica Life Sahaj Suraksha

This is a long-term participating savings-cum protection plan which focuses on helping you meet your expenses during older years.

Product Benefits

• Flexibility to pay premium only for 15 or 20 years.
• You are entitled to Compounding Reversionary Bonuses.
• Maturity benefit will be the sum of Basic Sum Assured, Accrued Reversionary Bonuses and Final Bonus, if any.
• Death benefit will be the Death Sum Assured, Accrued Reversionary Bonuses, Interim Bonus, if any, and Final Bonus, if any.
• Death Sum Assured is 11 x Annualized Premium @ (70 - Age at entry) x 0.5 x Annualized Premium @ Basic Sum Assured if the age of entry is less than 45 years.
• Death Sum Assured is 11 x Annualized Premium @ (70 - Age at entry) x 0.25 x Annualized Premium @ Basic Sum Assured if the age of entry is more than 45 years.

Eligibility Details

Pramerica Life Smart Cash Protect Plan

This is a participating endowment-cum insurance plan which provides regular income in the form of annual cash benefits along with lump sum payouts.

Product Benefits

• You are guaranteed an annual payout along with survival benefits.
• You can select Limited Premium Payment Options (12|15|20 years).
• Maturity benefit payable will be 50% of the Sum Assured plus final bonus (if any).
• Annual payouts will be equal to 6% of the Sum Assured.
• You will be entitled to a paid bonus, if declared, every year and Reversionary Bonus Accrued.
• Death benefit payable will be Death Sum Assured plus Accrued Reversionary Bonus plus Final Bonus (if any). (Applicable only if the life insured dies within the first 15 policy years).
• In case of death post 15 policy years, the Death Sum Assured plus Final Bonus (if any). The Death Sum Assured is defined as maximum of 11 times the Annualised Premium or 50% of the Sum Assured. However, the minimum Death Benefit will be at least equal to 105% multiplied by the total Premium paid as on the date of death.

Eligibility Details