Pramerica Life Wealth+ Ace

Pramerica Life Wealth+ Ace a Single Premium Unit Linked Insurance Plan, assists you in achieving your planned milestones by creating investment opportunities, thereby facilitating a financially secure and protected future for your loved ones.

Reasons to buy this plan

  • One - time Investment
  • Opportunity for Wealth Creation and Accumulation

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Key Features

Know about this plan

Plan Benefit

Maturity Benefit

On maturity, fund value including the value of persistency units will become payable.

On maturity, fund value including the value of persistency units will become payable.

Death Benefit

In the event of death, the Policy pays higher of, Sum Assured* less partial withdrawals (if applicable) or Fund Value (including the value of persistency units) or 105% of Premiums paid till date of death.

In the event of death, the Policy pays higher of, Sum Assured* less partial withdrawals (if applicable) or Fund Value (including the value of persistency units) or 105% of Premiums paid till date of death. *Sum Assured will be reduced to the extent of partial withdrawals made in the last 2 years immediately preceding the date of death. The policy will terminate on payment of death benefit.

Systematic Transfer Plan (STP)

With Systematic Transfer Plan (STP), you can invest a specific amount in a regular fashion in one or more of the four funds mentioned below,

With Systematic Transfer Plan (STP), you can invest a specific amount in a regular fashion in one or more of the four funds mentioned below, and decide the proportion of money you would like to invest in each fund at monthly intervals subject to minimum of 10% of single premium. This gives you the advantage of rupee cost averaging. You buy more units when markets are down and fewer units when markets are up, thereby reducing the average cost of purchase of units in the funds selected by you. Apart from choosing the amount, the Policyholder also needs to choose the duration/ period over which he/she would like to avail STP from the available options of 6 or 12 months.

Persistency Units

As our commitment towards your wealth creation objective, while the Policy is in force,

As our commitment towards your wealth creation objective, while the Policy is in force, Persistency Units as a percentage of average fund value at preceding 36 monthly anniversaries will be added to the Policyholder's unit account at the end of every 5th Policy year starting 10th Policy Anniversary until the end of the Policy Term. The Persistency Units will be as follows:
Premium Band From () To () Persistency Units
Band – 1 65,000 1,99,999 1.50%
Band – 2 2,00,000 Onwards 2.00%

Choice of Investment Funds

You have an option to choose from four funds to invest your money in

You have an option to choose from four funds to invest your money in. You can look at the investment objectives of each of our funds and match those with your investment goals and then decide the proportion of money you would like to invest in each of them. If you are opting for more than one fund, the minimum investment in any fund should be at least 10% of the Single Premium paid. The funds and fund objectives are as follows:
Fund Investment
objective
Asset
Allocation
Risk
profile
Debt Fund
(SFIN: ULIF00127/08 /08FIXEDIFUND140)
To generate steady return at lower risk by investing in a range of debt securities. Government securities: 50% to 100% Corporate bonds: 0% to 50% Money Market/cash: 0% to 40% Low
Balance Fund
(SFIN: ULIF00227/08 /08BALANCFUND140)
To generate balance return by investing in debt securities to provide stability and by investing in equities to provide potential to enhance the return through capital appreciation. Equity: 10% to 50% Government securities: 20% to 50% Corporate bonds: 0% to 50% Money Market/cash: 0% to 40% High
Growth Fund
(SFIN: ULIF00327/08 /08GROWTHFUND140)
To generate higher return through capital appreciation in the long term by investing in a diversified portfolio of equities. Debt investment will provide a little stability and diversification. Equity: 40% to 80% Government securities: 10% to 30% Corporate bonds: 0% to 30% Money Market/cash: 0% to 40% High
Large Cap Equity Fund
(SFIN: ULIF00427/08 /08LARCAPFUND140)
To generate higher return through capital appreciation in long term from a portfolio invested predominantly in large cap equities. Equity: 60% to 100% Money Market/cash: 0% to 40% High

Liquid Fund will be available to the Policyholder only through STP. Investment objective of Liquid Fund is as under.

Fund Investment objectives Asset Allocation Risk Profile
Liquid Fund(SFIN: ULIF00920/01 /11LIQUIDFUND140) To generate steady return at lower risk by investing in a range of short-term debt/liquid money market securities T-Bill/Money Market/Cash: 100% Low

In addition to above fund an additional fund will be maintained for discontinued policies with the following asset allocation and SFIN.

Fund Name Investment objectives Asset Allocation Risk Profile
Discontinued Policy Fund (SFIN: ULIF01024/02/ 11DISCONFUND140) To generate steady return at lower risk when the policyholder surrenders the policy or discontinues premium payment during the lock in period. The currently prevailing minimum guaranteed rate of interest applicable to discontinued fund is 4% percent per annum Government Securities: 60% to 100% Money Market/cash: 0% to 40% Low

The minimum guaranteed rate of interest applicable to Discontinued Policy Fund will be specified by the IRDA of India from time to time.

Eligibility Criteria

Minimum Age at Entry*

  • 8 Years for Policy Term of 10 Years
  • 3 Years for Policy Term of 15 Years
  • 90 Days for Policy Term of 20 or 25 Years

Maximum Age at Entry*

65 Yrs

Maximum Maturity age*

75 Yrs

Premium Payment Terms (PPT)

  1. Single Pay

Policy Term

  1. 10 Yrs
  2. 15 Yrs
  3. 20 Yrs
  4. 25 Yrs

Premium

  • Minimum Single Premium: 65,000
  • Maximum Single Premium: Depends on Maximum
  • Sum Assured, subject to underwriting

Sum Assured

  • 1.25 times of Single Premium
  • Subject to maximum of Rs. 10 Crore

* Age as on last birthday

Downloads

Brochure

Policy Schedule and T & C

Maturity Benefit

On maturity, fund value including the value of persistency units will become payable.

On maturity, fund value including the value of persistency units will become payable.

Death Benefit

In the event of death, the Policy pays higher of, Sum Assured* less partial withdrawals (if applicable) or Fund Value (including the value of persistency units) or 105% of Premiums paid till date of death.

In the event of death, the Policy pays higher of, Sum Assured* less partial withdrawals (if applicable) or Fund Value (including the value of persistency units) or 105% of Premiums paid till date of death. *Sum Assured will be reduced to the extent of partial withdrawals made in the last 2 years immediately preceding the date of death. The policy will terminate on payment of death benefit.

Systematic Transfer Plan (STP)

With Systematic Transfer Plan (STP), you can invest a specific amount in a regular fashion in one or more of the four funds mentioned below,

With Systematic Transfer Plan (STP), you can invest a specific amount in a regular fashion in one or more of the four funds mentioned below, and decide the proportion of money you would like to invest in each fund at monthly intervals subject to minimum of 10% of single premium. This gives you the advantage of rupee cost averaging. You buy more units when markets are down and fewer units when markets are up, thereby reducing the average cost of purchase of units in the funds selected by you. Apart from choosing the amount, the Policyholder also needs to choose the duration/ period over which he/she would like to avail STP from the available options of 6 or 12 months.

Persistency Units

As our commitment towards your wealth creation objective, while the Policy is in force,

As our commitment towards your wealth creation objective, while the Policy is in force, Persistency Units as a percentage of average fund value at preceding 36 monthly anniversaries will be added to the Policyholder's unit account at the end of every 5th Policy year starting 10th Policy Anniversary until the end of the Policy Term. The Persistency Units will be as follows:
Premium Band From () To () Persistency Units
Band – 1 65,000 1,99,999 1.50%
Band – 2 2,00,000 Onwards 2.00%

Choice of Investment Funds

You have an option to choose from four funds to invest your money in

You have an option to choose from four funds to invest your money in. You can look at the investment objectives of each of our funds and match those with your investment goals and then decide the proportion of money you would like to invest in each of them. If you are opting for more than one fund, the minimum investment in any fund should be at least 10% of the Single Premium paid. The funds and fund objectives are as follows:
Fund Investment
objective
Asset
Allocation
Risk
profile
Debt Fund
(SFIN: ULIF00127/08 /08FIXEDIFUND140)
To generate steady return at lower risk by investing in a range of debt securities. Government securities: 50% to 100% Corporate bonds: 0% to 50% Money Market/cash: 0% to 40% Low
Balance Fund
(SFIN: ULIF00227/08 /08BALANCFUND140)
To generate balance return by investing in debt securities to provide stability and by investing in equities to provide potential to enhance the return through capital appreciation. Equity: 10% to 50% Government securities: 20% to 50% Corporate bonds: 0% to 50% Money Market/cash: 0% to 40% High
Growth Fund
(SFIN: ULIF00327/08 /08GROWTHFUND140)
To generate higher return through capital appreciation in the long term by investing in a diversified portfolio of equities. Debt investment will provide a little stability and diversification. Equity: 40% to 80% Government securities: 10% to 30% Corporate bonds: 0% to 30% Money Market/cash: 0% to 40% High
Large Cap Equity Fund
(SFIN: ULIF00427/08 /08LARCAPFUND140)
To generate higher return through capital appreciation in long term from a portfolio invested predominantly in large cap equities. Equity: 60% to 100% Money Market/cash: 0% to 40% High

Liquid Fund will be available to the Policyholder only through STP. Investment objective of Liquid Fund is as under.

Fund Investment objectives Asset Allocation Risk Profile
Liquid Fund(SFIN: ULIF00920/01 /11LIQUIDFUND140) To generate steady return at lower risk by investing in a range of short-term debt/liquid money market securities T-Bill/Money Market/Cash: 100% Low

In addition to above fund an additional fund will be maintained for discontinued policies with the following asset allocation and SFIN.

Fund Name Investment objectives Asset Allocation Risk Profile
Discontinued Policy Fund (SFIN: ULIF01024/02/ 11DISCONFUND140) To generate steady return at lower risk when the policyholder surrenders the policy or discontinues premium payment during the lock in period. The currently prevailing minimum guaranteed rate of interest applicable to discontinued fund is 4% percent per annum Government Securities: 60% to 100% Money Market/cash: 0% to 40% Low

The minimum guaranteed rate of interest applicable to Discontinued Policy Fund will be specified by the IRDA of India from time to time.

Minimum Age at Entry*

  • 8 Years for Policy Term of 10 Years
  • 3 Years for Policy Term of 15 Years
  • 90 Days for Policy Term of 20 or 25 Years

Maximum Age at Entry*

65 Yrs

Maximum Maturity age*

75 Yrs

Premium Payment Terms (PPT)

  1. Single Pay

Policy Term

  1. 10 Yrs
  2. 15 Yrs
  3. 20 Yrs
  4. 25 Yrs

Premium

  • Minimum Single Premium: 65,000
  • Maximum Single Premium: Depends on Maximum
  • Sum Assured, subject to underwriting

Sum Assured

  • 1.25 times of Single Premium
  • Subject to maximum of Rs. 10 Crore

* Age as on last birthday

Brochure

Policy Schedule and T & C

NOTE: IN THIS POLICY, THE INVESTMENT RISK IN THE INVESTMENT PORTFOLIO IS BORNE BY THE POLICYHOLDER. This product does not offer any liquidity during the first five years of the contract. The Policyholder will not be able to surrender/withdraw the monies invested in this product completely or partially till the end of the fifth Policy year.

Pramerica Life Wealth+ Ace: UIN No. 140L025V03. Insurance is the subject matter of solicitation. This product provides life insurance coverage. Service tax and education cess as applicable will be charged over and above of the applicable charges from the unit fund. 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. Please refer Rider sales brochure before concluding the sale.