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Pramerica Life Wealth Maximiser

 

Financial security becomes a major factor in determining whether our journey through the ocean of life is going to be a smooth or a rough one. Therefore, this critical factor needs to be carefully addressed when it comes to choosing a Life Insurance plan to protect our family and secure their financial future. We need to be financially equipped and significantly insured to fulfill the certain as well as uncertain needs of our family. Pramerica Life Wealth Maximiser is a Unit Linked Non Participating Life Insurance plan which offer various advantages to choose from.

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Reasons to buy this plan

  • Life Cover for your family with high returns to help meet increasing expenses.
  • Wealth creation for your planned milestones in life.

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Key Features

Know about this plan

Plan Benefit

Death Benefit

In case of an unfortunate demise of the Life Insured during the Policy Term, the Policy will pay Death Benefit which is higher of

In case of an unfortunate demise of the Life Insured during the Policy Term, the Policy will pay Death Benefit which is higher of

  1. Sum Assured* including Top-Up Sum Assured, if any  or
  2. Fund Value, including Top-Up Fund Value, if any, or
  3. 105% of total Premium paid including Top-Up premiums, if any.

Where, Sum Assured is defined as multiple of Annualized Premium / Single Premium as opted at inception of policy.

*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.

Maturity Benefit

On survival of the Life Insured till maturity date and subject to Policy being in-force for

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 including Top-Up fund value, if any, to the Policyholder.

Death cover chosen will cease on Maturity.

Surrender Benefit

The Policy will acquire surrender value from the first Policy year but it becomes

The Policy will acquire surrender value from the first Policy year but it becomes payable only after completion of "lock-in period" which is a period of 5 consecutive Policy years from the date of commencement of the Policy.

The surrender value will be the value of units less discontinuance (or surrender) charges, if applicable.

Persistency Units

As a reward for continuing your policy, Persistency units equal to 0.50% of the average

As a reward for continuing your policy, Persistency units equal to 0.50% of the average of Fund Value including Top-Up Fund Value of preceding 36 monthiversaries would be allocated to the Policyholder's unit account at the end of every policy year, starting from sixth policy year provided monies are not in Discontinuance Fund.

No Persistency Units would be given to policies sold online

Wealth Boosters

Wealth Boosters would be allocated as extra units at the end of every fifth policy year,

Wealth Boosters would be allocated as extra units at the end of every fifth policy year, starting from the end of tenth policy year. Wealth Booster as a percentage of average fund value including Top-up Fund Value of preceding 36 monthiversaries would be allocated to the policyholder's unit account at the end of 10th, 15th, 20th, 25th and 30th policy anniversaries, if they fall within the policy term.


Policy Anniversary Premium Band
Band 1 Band 2 Band 3
10th 1.00% 1.25% 1.50%
15th 1.25% 1.75% 2.00%
20th 1.50% 2.25% 2.50%
25th 1.75% 2.75% 3.00%
30th 2.00% 3.25% 3.50%

Choice of Investment Strategies

At inception, Policyholder can choose one of the below investment strategies

At inception, Policyholder can choose one of the below investment strategies.

  • Defined Portfolio Strategy
  • Life Stage Portfolio Strategy

Within the Defined Portfolio Strategy, Policyholder can choose to invest with or without Systematic Transfer Plan Option. Once opted in, the investment strategy will continue throughout the policy term. Policyholder cannot switch from one investment strategy to another during the policy term.

Defined Portfolio Strategy

Under this option, you can opt to invest in any of the funds as available (except DPF or Liquid Fund)

Under this option, you can opt to invest in any of the funds as available (except DPF or Liquid Fund) in proportions of your choice. Within the Defined Portfolio strategy, you also have an option to select Systematic Transfer Plan (STP) option and/or Fund Conservation Option for which Liquid Fund will be made available to you. The Policyholder can switch monies amongst these funds using the switch option.

You have an option to choose from five 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 1% of the Single / Annual Premium (as applicable) 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 balanced 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
Multi Cap Opportunities Fund(SFIN: ULIF01106/02 /18MULCAPOPPO140) To generate capital appreciation for policyholders by dynamically investing across assets to capitalize on changing market conditions. The scheme aims to invest primarily in equities and to mitigate market volatility, in fixed income securities, including money market instruments. The investments will be market capitalization agnostic and will focus on growth oriented opportunities. Equity: 50% to 100% Govt. Securities, Corporate Bonds: 0% to 30% Money Market Instruments/Cash: 0% to 50% 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 Objective 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% 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. The current minimum guaranteed rate applicable to Discontinued Policy Fund is 4% per annum.

Systematic Transfer Plan

With STP, you can invest a specific amount in a regular fashion at monthly intervals

With STP, you can invest a specific amount in a regular fashion at monthly intervals. 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.

Life Stage Portfolio Strategy

Considering the ever changing financial needs as per the different life milestones

Considering the ever changing financial needs as per the different life milestones, 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. At inception the funds will be distributed between two funds, Large Cap Equity & Debt Fund. As and when the next milestone is achieved, the funds will be re-distributed according to the attained age (age bands) as given in following table.


Age last birthday last policy anniversary Debt Fund Large Cap Equity Fund
Up to 25 15% 85%
26 – 30 20% 80%
31 – 35 25% 75%
36 – 40 30% 70%
41 – 45 35% 65%
46 – 50 40% 60%
51 – 55 45% 55%
56 And Above 50% 50%

On a quarterly basis, the strategy shall be reviewed and rebalanced, if necessary, to achieve above proportions. The rebalancing will be done on the first day of each quarter of the financial year except for the last 12 months of the policy. If the first day is a non valuation date then the next working day's NAV will be applicable.

In the last 12 months, the remaining investments from Large Cap Equity Fund will be systematically transferred to the liquid fund in 12 installments.

Flexibilities available in the plan *

Top-Up

To boost your savings, you can pay additional Top-Up Premiums over & above

To boost your savings, you can pay additional Top-Up Premiums over & above the base premium as long as all due premium till date has been paid The minimum Top-up premium is 5,000. Sum Assured would increase by Top-up Sum Assured after availing a Top-up facility.

Switching option

Within Defined Portfolio Strategy, you can switch your investments within the

Within Defined Portfolio Strategy, you can switch your investments within the available funds, depending on your financial priorities and investment decision. There are no switching charges or restriction on number of switches during entire policy term. The minimum switch amount is Rs 5000 unless 100% of the fund is switched.

Premium Redirection

Within Defined Portfolio Strategy, you have the flexibility to change

Within Defined Portfolio Strategy, you have the flexibility to change the proportion of Premium that is invested in different funds by giving an advance notice to the Company of at least 15 days before exercising this option. There are no Premium Redirection charges or restriction on number of redirection during the entire policy term. This feature would not be applicable for single premium payment policies.

Partial withdrawals

To manage any unexpected need for money or for any exigency,

To manage any unexpected need for money or for any exigency, partial withdrawals can be made from your investment account after 5 Policy years. The policyholder can make unlimited number of partial withdrawals as long as the total amount of partial withdrawals in a year does not exceed 20% of the Fund Value in a policy Year. The minimum withdrawal amount is Rs 10,000. The partial withdrawals are free of cost.

Fund Conservation

Within Defined Portfolio Strategy the Company will give you an option to preserve

Within Defined Portfolio Strategy the Company will give you 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 Debt fund, Balance fund, Growth fund, Large Cap Equity fund and Multi Cap Opportunities fund to Liquid Fund in the last 12 months of your Policy; on monthly basis.

All Premiums received during this period will be re-directed to Liquid Fund

Settlement option

Upon Maturity of the policy, you will have the option, to receive

Upon Maturity of the policy, you will have the option, to receive maturity benefit as a structured payout over a period of 1, 2, 3, 4 or 5 years post maturity by availing settlement option. For e.g. if you choose settlement period of 1 year with monthly frequency, the first installment will be paid on the Maturity Date, second installment will be paid upon completion of one month from date of maturity and so on.

Option to Increase/Decrease the Sum Assured

You can increase or decrease the sum assured within maximum and minimum

You can increase or decrease the sum assured within maximum and minimum limits after third policy anniversary provided you have paid all the premium/s due and would be subject to underwriting and other requirements of the Company.

Option to Increase/Decrease the Premium Payment Term

Provided all due premiums have been paid, you can choose

  • Provided all due premiums have been paid, you can choose to increase the Premium Payment Term by notifying the Company.
  • Provided at least five years' premiums have been paid, you can choose to decrease the Premium Payment Term by notifying the Company.
  • Increase or decrease in Premium Payment Term must always be in multiples of one year.

This benefit is not applicable for the Single Pay option

Option to Increase/Decrease in Policy Term

You can choose to increase or decrease your policy term by notifying

  • You can choose to increase or decrease your policy term by notifying the Company.
  • On decrease of policy term, your Sum Assured will not reduce unless it is requested by you


*Please refer to sales brochure for further details

Eligibility Criteria

Entry Age*

Min

90 Days

Max

65 Yrs

Maturity Age*

Min

18 Yrs

Max

75 Yrs

Policy Term

For Limited/Regular Pay

Age (Last Birthday) Policy Term
Minumum Maximum
0-40 5 Years 30 Years
41-65 5 Years 25 Years
For Single Pay:
Minimum: 5 Years
Maximum: 10 Years

Premium Payment Term

Single Pay,Limited Pay or Regular Pay
For Limited/Regular Pay:

Age (Last Birthday) Premium Payment Term
Minumum Maximum
0-40 5 Years 30 Years
41-65 5 Years 25 Years

Premium

Minimum Premium: Single Pay: 1,20,000 For Limited/Regular Pay:
Frequency Minimum Premium
Annual ┐36,000
Half-Yearly ┐18,000
Quarterly ┐9,000
Monthly* ┐3,000
Maximum Premium:Subject to underwriting Top Premium: Minimum: Rs 5,000 Maximum: Sum of total base Premiums paid till date of Top-Up payment

Minimum Sum Assured

A multiple of Annualized Premium as defiend below:
Premium
Paying Term		 Age at entry
< 45 Years		 Age at entry
>= 45 Years
Single Pay 1.25 x SP 1.25 x SP
Limited/
Regular Pay		 Higher of 10xAP
or
0.5 X PT X AP		 Higher of 7xAP
or
0.25 X PT X AP
AP: Annual Premium >PT: Policy Term Top-Up: 1.25 x Top-Up Premium

Maximum Sum Assured

A multiple of Annualized Premium as defiend below:
Age at Entry Single Pay Limited/Regular Pay
Up to 30 1.25 30
31 – 35 20
36 – 40 15
41 – 44 12.5
45 – 55 10
56 & above 7
Top-Up: 1.25 x Top-Up Premium

Premium Payment MODE

  1. Single
  2. Annual
  3. Half-Yearly
  4. Quarterly
  5. Monthly**

* Age as on last birthday ** Monthly Mode of Premium Payment is available only through Credit Card, Direct Debit and ECS

Premium Bands

Following Premium Bands would be applicable:

Premium Band Limited/Regular Pay Single Pay
Band 1 ┐36,000 to ┐1,19,999 NA
Band 2 ┐1,20,000 to ┐2,99,999 ┐1,20,000 to ┐2,99,999
Band 3 ┐3,00,000 & above ┐3,00,000 & above

Tax Benefits

Tax benefits will be applicable as per prevailing tax laws. Tax laws are subject to change. Please consult your tax advisor for details.

Exclusions

In case of death due to suicide or attempted suicide, whether sane or insane, within 12 months from the date of commencement of the Policy or from the date of revival of the Policy, as applicable, the nominee(s) or beneficiary of the Policyholder shall be entitled to the fund value available as on the date of intimation of death and the charges other than FMC and Guarantee Charges, if any levied subsequent to the date of death shall be added back to the fund value as available on the date of intimation of death.

 

Downloads

Brochure

Policy Schedule and T & C

Death Benefit

In case of an unfortunate demise of the Life Insured during the Policy Term, the Policy will pay Death Benefit which is higher of

In case of an unfortunate demise of the Life Insured during the Policy Term, the Policy will pay Death Benefit which is higher of

  1. Sum Assured* including Top-Up Sum Assured, if any  or
  2. Fund Value, including Top-Up Fund Value, if any, or
  3. 105% of total Premium paid including Top-Up premiums, if any.

Where, Sum Assured is defined as multiple of Annualized Premium / Single Premium as opted at inception of policy.

*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.

Maturity Benefit

On survival of the Life Insured till maturity date and subject to Policy being in-force for

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 including Top-Up fund value, if any, to the Policyholder.

Death cover chosen will cease on Maturity.

Surrender Benefit

The Policy will acquire surrender value from the first Policy year but it becomes

The Policy will acquire surrender value from the first Policy year but it becomes payable only after completion of "lock-in period" which is a period of 5 consecutive Policy years from the date of commencement of the Policy.

The surrender value will be the value of units less discontinuance (or surrender) charges, if applicable.

Persistency Units

As a reward for continuing your policy, Persistency units equal to 0.50% of the average

As a reward for continuing your policy, Persistency units equal to 0.50% of the average of Fund Value including Top-Up Fund Value of preceding 36 monthiversaries would be allocated to the Policyholder's unit account at the end of every policy year, starting from sixth policy year provided monies are not in Discontinuance Fund.

No Persistency Units would be given to policies sold online

Wealth Boosters

Wealth Boosters would be allocated as extra units at the end of every fifth policy year,

Wealth Boosters would be allocated as extra units at the end of every fifth policy year, starting from the end of tenth policy year. Wealth Booster as a percentage of average fund value including Top-up Fund Value of preceding 36 monthiversaries would be allocated to the policyholder's unit account at the end of 10th, 15th, 20th, 25th and 30th policy anniversaries, if they fall within the policy term.


Policy Anniversary Premium Band
Band 1 Band 2 Band 3
10th 1.00% 1.25% 1.50%
15th 1.25% 1.75% 2.00%
20th 1.50% 2.25% 2.50%
25th 1.75% 2.75% 3.00%
30th 2.00% 3.25% 3.50%

Choice of Investment Strategies

At inception, Policyholder can choose one of the below investment strategies

At inception, Policyholder can choose one of the below investment strategies.

  • Defined Portfolio Strategy
  • Life Stage Portfolio Strategy

Within the Defined Portfolio Strategy, Policyholder can choose to invest with or without Systematic Transfer Plan Option. Once opted in, the investment strategy will continue throughout the policy term. Policyholder cannot switch from one investment strategy to another during the policy term.

Defined Portfolio Strategy

Under this option, you can opt to invest in any of the funds as available (except DPF or Liquid Fund)

Under this option, you can opt to invest in any of the funds as available (except DPF or Liquid Fund) in proportions of your choice. Within the Defined Portfolio strategy, you also have an option to select Systematic Transfer Plan (STP) option and/or Fund Conservation Option for which Liquid Fund will be made available to you. The Policyholder can switch monies amongst these funds using the switch option.

You have an option to choose from five 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 1% of the Single / Annual Premium (as applicable) 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 balanced 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
Multi Cap Opportunities Fund(SFIN: ULIF01106/02 /18MULCAPOPPO140) To generate capital appreciation for policyholders by dynamically investing across assets to capitalize on changing market conditions. The scheme aims to invest primarily in equities and to mitigate market volatility, in fixed income securities, including money market instruments. The investments will be market capitalization agnostic and will focus on growth oriented opportunities. Equity: 50% to 100% Govt. Securities, Corporate Bonds: 0% to 30% Money Market Instruments/Cash: 0% to 50% 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 Objective 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% 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. The current minimum guaranteed rate applicable to Discontinued Policy Fund is 4% per annum.

Systematic Transfer Plan

With STP, you can invest a specific amount in a regular fashion at monthly intervals

With STP, you can invest a specific amount in a regular fashion at monthly intervals. 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.

Life Stage Portfolio Strategy

Considering the ever changing financial needs as per the different life milestones

Considering the ever changing financial needs as per the different life milestones, 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. At inception the funds will be distributed between two funds, Large Cap Equity & Debt Fund. As and when the next milestone is achieved, the funds will be re-distributed according to the attained age (age bands) as given in following table.


Age last birthday last policy anniversary Debt Fund Large Cap Equity Fund
Up to 25 15% 85%
26 – 30 20% 80%
31 – 35 25% 75%
36 – 40 30% 70%
41 – 45 35% 65%
46 – 50 40% 60%
51 – 55 45% 55%
56 And Above 50% 50%

On a quarterly basis, the strategy shall be reviewed and rebalanced, if necessary, to achieve above proportions. The rebalancing will be done on the first day of each quarter of the financial year except for the last 12 months of the policy. If the first day is a non valuation date then the next working day's NAV will be applicable.

In the last 12 months, the remaining investments from Large Cap Equity Fund will be systematically transferred to the liquid fund in 12 installments.

Flexibilities available in the plan *

Top-Up

To boost your savings, you can pay additional Top-Up Premiums over & above

To boost your savings, you can pay additional Top-Up Premiums over & above the base premium as long as all due premium till date has been paid The minimum Top-up premium is 5,000. Sum Assured would increase by Top-up Sum Assured after availing a Top-up facility.

Switching option

Within Defined Portfolio Strategy, you can switch your investments within the

Within Defined Portfolio Strategy, you can switch your investments within the available funds, depending on your financial priorities and investment decision. There are no switching charges or restriction on number of switches during entire policy term. The minimum switch amount is Rs 5000 unless 100% of the fund is switched.

Premium Redirection

Within Defined Portfolio Strategy, you have the flexibility to change

Within Defined Portfolio Strategy, you have the flexibility to change the proportion of Premium that is invested in different funds by giving an advance notice to the Company of at least 15 days before exercising this option. There are no Premium Redirection charges or restriction on number of redirection during the entire policy term. This feature would not be applicable for single premium payment policies.

Partial withdrawals

To manage any unexpected need for money or for any exigency,

To manage any unexpected need for money or for any exigency, partial withdrawals can be made from your investment account after 5 Policy years. The policyholder can make unlimited number of partial withdrawals as long as the total amount of partial withdrawals in a year does not exceed 20% of the Fund Value in a policy Year. The minimum withdrawal amount is Rs 10,000. The partial withdrawals are free of cost.

Fund Conservation

Within Defined Portfolio Strategy the Company will give you an option to preserve

Within Defined Portfolio Strategy the Company will give you 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 Debt fund, Balance fund, Growth fund, Large Cap Equity fund and Multi Cap Opportunities fund to Liquid Fund in the last 12 months of your Policy; on monthly basis.

All Premiums received during this period will be re-directed to Liquid Fund

Settlement option

Upon Maturity of the policy, you will have the option, to receive

Upon Maturity of the policy, you will have the option, to receive maturity benefit as a structured payout over a period of 1, 2, 3, 4 or 5 years post maturity by availing settlement option. For e.g. if you choose settlement period of 1 year with monthly frequency, the first installment will be paid on the Maturity Date, second installment will be paid upon completion of one month from date of maturity and so on.

Option to Increase/Decrease the Sum Assured

You can increase or decrease the sum assured within maximum and minimum

You can increase or decrease the sum assured within maximum and minimum limits after third policy anniversary provided you have paid all the premium/s due and would be subject to underwriting and other requirements of the Company.

Option to Increase/Decrease the Premium Payment Term

Provided all due premiums have been paid, you can choose

  • Provided all due premiums have been paid, you can choose to increase the Premium Payment Term by notifying the Company.
  • Provided at least five years' premiums have been paid, you can choose to decrease the Premium Payment Term by notifying the Company.
  • Increase or decrease in Premium Payment Term must always be in multiples of one year.

This benefit is not applicable for the Single Pay option

Option to Increase/Decrease in Policy Term

You can choose to increase or decrease your policy term by notifying

  • You can choose to increase or decrease your policy term by notifying the Company.
  • On decrease of policy term, your Sum Assured will not reduce unless it is requested by you


*Please refer to sales brochure for further details

Entry Age*

Min

90 Days

Max

65 Yrs

Maturity Age*

Min

18 Yrs

Max

75 Yrs

Policy Term

For Limited/Regular Pay

Age (Last Birthday) Policy Term
Minumum Maximum
0-40 5 Years 30 Years
41-65 5 Years 25 Years
For Single Pay:
Minimum: 5 Years
Maximum: 10 Years

Premium Payment Term

Single Pay,Limited Pay or Regular Pay
For Limited/Regular Pay:

Age (Last Birthday) Premium Payment Term
Minumum Maximum
0-40 5 Years 30 Years
41-65 5 Years 25 Years

Premium

Minimum Premium: Single Pay: 1,20,000 For Limited/Regular Pay:
Frequency Minimum Premium
Annual ┐36,000
Half-Yearly ┐18,000
Quarterly ┐9,000
Monthly* ┐3,000
Maximum Premium:Subject to underwriting Top Premium: Minimum: Rs 5,000 Maximum: Sum of total base Premiums paid till date of Top-Up payment

Minimum Sum Assured

A multiple of Annualized Premium as defiend below:
Premium
Paying Term		 Age at entry
< 45 Years		 Age at entry
>= 45 Years
Single Pay 1.25 x SP 1.25 x SP
Limited/
Regular Pay		 Higher of 10xAP
or
0.5 X PT X AP		 Higher of 7xAP
or
0.25 X PT X AP
AP: Annual Premium >PT: Policy Term Top-Up: 1.25 x Top-Up Premium

Maximum Sum Assured

A multiple of Annualized Premium as defiend below:
Age at Entry Single Pay Limited/Regular Pay
Up to 30 1.25 30
31 – 35 20
36 – 40 15
41 – 44 12.5
45 – 55 10
56 & above 7
Top-Up: 1.25 x Top-Up Premium

Premium Payment MODE

  1. Single
  2. Annual
  3. Half-Yearly
  4. Quarterly
  5. Monthly**

* Age as on last birthday ** Monthly Mode of Premium Payment is available only through Credit Card, Direct Debit and ECS

Premium Bands

Following Premium Bands would be applicable:

Premium Band Limited/Regular Pay Single Pay
Band 1 ┐36,000 to ┐1,19,999 NA
Band 2 ┐1,20,000 to ┐2,99,999 ┐1,20,000 to ┐2,99,999
Band 3 ┐3,00,000 & above ┐3,00,000 & above

Tax Benefits

Tax benefits will be applicable as per prevailing tax laws. Tax laws are subject to change. Please consult your tax advisor for details.

Exclusions

In case of death due to suicide or attempted suicide, whether sane or insane, within 12 months from the date of commencement of the Policy or from the date of revival of the Policy, as applicable, the nominee(s) or beneficiary of the Policyholder shall be entitled to the fund value available as on the date of intimation of death and the charges other than FMC and Guarantee Charges, if any levied subsequent to the date of death shall be added back to the fund value as available on the date of intimation of death.

 

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 Maximiser: UIN No. 140L060V03.This product provides life insurance coverage. Goods & Services Tax 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.