Pramerica Life Smart Invest

UIN: 140L081V01

Reason to buy this plan

  • Get a life cover to protect your loved ones against uncertainty
  • Zero Premium Allocation charge and Zero Administration Charge in all years
  • Return of Mortality Charges on survival of the Life Insured
  • Choice of three plan options as per your need
  • Extra benefit for female life insured
  • Monthly income in Dream Builder to support your family in case of unfortunate event of death

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Features of a Smart Invest

 
Financial security to your family

Enjoy the benefit of life cover and secure your family’s future against uncertainties of life.

 
Different plan options to choose from

Fulfil your life goals by choosing from three plan options namely Wealth Builder, Dream Builder & Legacy Builder for different life stage needs.

 
Zero Premium Allocation charge and Zero Administration Charge

in all years and watch your wealth grow faster.

 
Female Benefits

Get Extra Allocation to the Fund and an additional 10% Extra Allocation for female lives.

 
Monthly Income

Monthly Income in Dream Builder plan option to support your family in case of unfortunate event of death.

 
Return of charges

Return of Mortality Charges on survival of the Life Insured till the end of the Policy Term or on the 70th birthday depending upon the plan option.

 
Unlimited switch and premium redirection

Flexibility of unlimited switches and premium re-directions between fund options to take advantage of market movement or change in risk preference at no additional cost.

 
Liquidity

Cater to your recurring monetary needs through a Systematic Withdrawal facility.

 
Investment strategies/funds options to choose from

Choice of two investment strategies and six fund options to suit your varied investment needs.

Benefits of buying a Smart Invest plan

Avail additional benefits while enjoying the peace of mind knowing that your loved ones are financially protected and also having the potential to earn higher returns on your investments

Death benefit

In case of an unfortunate demise of the Life Insured during the Policy Term provided all due premiums are paid, the following benefits shall be payable:

For Wealth Builder:

Death Benefit shall be higher of

  • Sum Assured** including Top-Up Sum Assured, if any or
  • Fund Value, including Top-Up Fund Value, if any, or
  • 105% of total premiums paid till date of death, including Top-Up premiums, if any.

Where, Sum Assured is a multiple of Annualized Premium/Single Premium chosen at the inception of the Policy

For Legacy Builder:

Death Benefit shall be higher of

  • Sum Assured** including Top-Up Sum Assured, if any or
  • Fund Value, including Top-Up Fund Value, if any, or
  • 105% of total premiums paid till date of death, including Top-Up premiums, if any.

Where, Sum Assured is a multiple of Annualized Premium/Single Premium chosen at the inception of the Policy

For Dream Builder Option:

Death Benefit shall be

  • Immediate Lump Sum on Death of Life Insured:A lump sum benefit equal to higher of the Sum Assured** including Top-Up Sum Assured, if any, or 105% of total premiums paid including Top-Up premiums, if any, shall be immediately paid to the nominee or the beneficiary as the case be and
  • Waiver of future premiums (WOP): All future premiums will be paid into the policy by the company as and when they are due till the end of Premium Payment Term and the policy will continue.
  • Fund Value at Maturity: : Fund Value, including Top-Up Fund Value, if any, at Maturity shall be paid to the Nominee or the beneficiary as the case be
  • Monthly Income: Monthly Income equal to AP$/12, shall be paid after the death of the Life Insured to the nominee starting from the subsequent monthly anniversary till the end of the Policy Term.

 

**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

$AP refers to Annualized Premium

Maturity Benefit (For all Plan Options)

On survival of the Life Insured till maturity date, the Fund Value including Top-Up fund value, if any, shall be payable and the policy shall terminate.

Surrender Benefit

The policy will acquire surrender value immediately from first policy year. However, no surrender value will be payable during the “lock in period”, which is a period of five consecutive Policy years from the date of commencement of the Policy.

If the Policyholder opts for surrender within first five Policy years, the Fund Value, including Top-up fund value if any, after deducting the applicable discontinuance charges, shall be credited to the Discontinued Policy Fund (DPF) and the risk cover and rider cover, if any, shall cease. The proceeds from the DPF shall be paid at the end of the lock in period as Surrender Value. Only fund management charge shall be deducted from this fund during this period.

The income earned on this fund shall be at least the minimum rate as prescribed by the IRDAI from time to time. The current prescribed minimum guaranteed rate of interest applicable is 4% percent per annum. The excess income earned in the DPF over and above the minimum guaranteed interest will also be accounted to the DPF.

If the Policyholder opts for surrender after the completion of the fifth policy year, the Fund Value including the Top-up Fund Value, if any will be paid.

Extra Allocation

Extra Allocation is defined as a percentage of SP# /AP$ as given in the table below. This is allocated to the fund at the time of Premium Allocation which results in higher allocation for the Policyholder. Further, for Female Life an additional 10% Extra Allocation is allocated to the fund value.

Premium Payment Term (PPT) 1st Policy year (Extra Allocation) 2-5 Policy Year (Extra Allocation) Last Year of PPT (Extra Allocation) Total(Extra Allocation) Male/Trans Life Total (Extra Allocation) Female Life
Single Pay 1% of SP# N.A. N.A. 1% of SP# 1.1% of SP#
5 1% of AP$ - 5% of AP$ 5.5% of AP$
7 1% of AP$ 1% of AP$ 6% of AP$ 6.6% of AP$
>=10 or Regular Pay 1% of AP$ 2% of AP$ 7% of AP$ 7.7% of AP$

#Single Premium
$AP refers to Annualized Premium

Choice of Investment Strategies

Choose an investment strategy of your choice to make the most of your plan

Defined Portfolio Strategy

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

  1. Look at the investment objectives of each of our funds
  2. Match funds with your investment goals
  3. Decide the proportion of money you would like to invest
Fund Investment objective Asset Allocation Risk Profile
Debt fund (SFIN: ULIF00127/08/08FIXEDIF UND140) 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
Balanced Equilibrium Fund (SFIN: ULIF016010223BALEQIBF ND140) Generate stable returns from a prudent combination of equity and fixed income investment with the possibility of increasing the fixed income contribution to 35% Equity and Equity Related Instruments: 65% to 75% Govt. Security / Corporate bonds / Money Market Instruments: 25% to 35%/td> Medium
Growth Momentum Fund (SFIN: ULIF015010223GROWM OMFND140) Generate superior long-term returns from a diversified portfolio of equity and debt securities. The fixed income allocation can be increased to 25% depending upon market conditions to afford stability to the fund. Equity and Equity Related Instruments: 75% to 85% Govt. Security / Corporate bonds / Money Market Instruments: 15% to 25% High
Large Cap Advantage Fund (SFIN: ULIF013010223LARCPAD FND140) To generate long-term capital appreciation from investment in large cap stocks which are constituents of the Nifty 100, subject to the regulatory limits on investee companies, their groups and industry sectors with the objective of beating the respective benchmark returns. The fund will have the flexibility of moving into fixed income instruments to the extent of 15% during more volatile periods. Equity and Equity Related Instruments: 85% to 100% Govt. Security / Corporate bonds / Money Market Instruments: 0% to 15% High
Flexi Cap Opportunities Fund (SFIN: ULIF014010223FLEXIOPF ND140) Dynamic capital appreciation through diversified investments in companies across the market capitalisation spectrum. The fund will have the flexibility of moving into fixed income instruments to the extent of 15% during more volatile periods. Equity and Equity Related Instruments: 85% to 100% Govt. Security / Corporate bonds / Money Market Instruments: 0% to 15% High
Pramerica Nifty Mid Cap 50 Correlation Fund (SFIN: ULIF017260423NIFMIDIC OR140) To invest in equity and equity oriented instruments in order to generate returns that closely corresponds to the returns of the Nifty Mid Cap 50 Index subject to tracking errors. The fund would invest in securities that form part of the NIFTY Mid Cap 50 Index to achieve high correlation with the index within the regulatory framework permitted. Equity & equity oriented instruments: 90-100%
Money Market Instruments: 0-10%		 High

Lifestage Portfolio Strategy

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

Age last birthday last policy anniversary Debt Fund Large Cap Advantage 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%
Return of Mortality Charges
For Wealth Builder:

On Survival of the Life Insured till the end of the Policy Term, an amount equal to the total of all the Mortality Charges deducted during the Policy Term (including mortality charge deducted on Top-Up Sum Assured as applicable) will be added to the total Fund Value (Base Fund value plus Top Up Fund value) at the Maturity Date provided the Policy is in force and all due premiums have been received in full as on the Maturity Date.

For Dream Builder:

On Survival of the Life Insured till the end of the Policy Term, an amount equal to the total of all the Mortality Charges deducted during the Policy Term (including mortality charge deducted on Top-Up Sum Assured as applicable) will be added to the total Fund Value (Base Fund value plus Top Up Fund value) at the Maturity Date provided the Policy is in force and all due premiums have been received in full as on the Maturity Date.

For Legacy Builder:

Total cumulative amount of mortality charges deducted till age 70 will be added to the fund value at the end of policy year (including mortality charge deducted on top-up Sum Assured as applicable) coinciding or immediately following 70th birthday of Life Insured.


The Return on Mortality Charges is subject to following (for all options)

  • The amount payable under the Return of Mortality Charge shall exclude any GST and cess with respect to the Mortality Charge that has been deducted.
  • For Wealth Builder and Dream Builder if the Top up Fund Value is NIL at the Maturity Date, but Mortality Charge was deducted with respect to Top up Premium during the Policy Term, the amount of Return of Mortality Charge due with respect to Top up Premium will also be added to the regular Premium Fund Value
  • For Legacy Builder if the Top up Fund Value is NIL at the age 70 of Life Insured, but Mortality Charge was deducted with respect to Top up Premium till Age 70 of Life Insured, the amount of Return of Mortality Charge due with respect to Top up Premium will also be added to the regular Premium Fund Value at age 70.
  • The amount of Return of Mortality Charge will be added in the Funds in the same proportion as the value of those Funds as on the date of the Return of Mortality Charge. Unit Price as on the date of such addition will be used for the unitization
  • No Return of Mortality Charge will be available in a Policy that has been terminated, discontinued or converted to a reduced paid-up policy
  • Any Mortality Charge deducted during the Settlement Period shall not be refunded
  • For Legacy Builder Mortality charges deducted after the age 70 till the end of the Policy Term shall not be returned.

 

Learn more about the Smart Invest

1

Choose any one of the three available plan options

2

Choose your Annualized Premium / Single Premium, Policy Term, Premium Payment Term, Sum Assured Multiple, Payment Mode

3

Choose your investment strategy and fund allocation

Maturity age

For SP/LP/ RP - Min

18 years

For SP(1.25x of SP$) – Max:

75 Years

For SP(10x of SP$) – Max:

60 Years

For LP/ RP - Max:

75 Years

Premium paying term

SP

LP – 5,7 and 10 years

RP– 10 to 40 years

Policy term

Minimum

10 years

Maximum

40 years

Age at entry

For LP/RP: Life Insured

0 years(90 days) to 60 years

For SP

0 years (901 days) to 50 years – 1.25x or 10x of SP$
51 years to 60 years – 1.25x of SP$

 

Premium (Rs.)

Premium Payment Mode

Min

Single Pay

Rs. 50,000

Annual

Rs.12,000

Semi-Annual

Rs.6,000

Quarterly

Rs. 3,000

Monthly

Rs. 1,000

Premium (Rs.)

Max

No Limit; subject to Board Approved Underwriting Policy

 

Sum Assured (Rs.)

LP/RP - Sum Assured Multiple of 7 times or 10 times of AP$

Single Pay - Sum Assured Multiple 1.25 times or 10 times of SP$

 

Premium Payment Frequency

Mode

Single Pay

Mode

Annual

Mode

Semi-Annual

Mode

Quarterly

Mode

Monthly

 

Top-up Premium

Minimum Top up Premium

Rs.5,000

Maximum Top up Premium

Total Top-up premiums paid cannot exceed the sum of base premium(s) paid till that time

SP – Single Pay, RP – Regular Pay, LP – Limited Pay

## Age as on last birthday

$AP refers to Annualized Premium

*Monthly mode of Premium payment is available only through credit card, direct debit and ECS

1In case the Life Insured is a minor at the date of commencement, a. Policy vests in the Life Insured on attainment of his/her majority i.e. 18 years. b. The proposer can either be a parent or grandparent or legal guardian of the Life Insured, or any other relation subject to insurable interest between the proposer and Life Insured. The ownership of such policies will vest automatically in name of Life Insured once he/she attains majority. The right of Appointee will extinguish on the attainment of majority of Life Insured.

Age at entry

Life Insured(Min):

18 years

Life Insured(Max):

50 years

Maturity age

Min

28 years

Max:

65 Years

Premium paying term

LP

5,7 and 10 years

RP

10 to 40 years

Policy term

Minimum

10 years

Maximum

40 years

 

Premium (Rs.)

Premium Payment Mode

Min

Single Pay

Rs. 50,000

Annual

Rs.12,000

Semi-Annual

Rs.6,000

Quarterly

Rs. 3,000

Monthly

Rs. 1,000

Premium (Rs.)

Max

No Limit; subject to Board Approved Underwriting Policy

 

Sum Assured (Rs.)

LP/RP - Sum Assured Multiple of 7 times or 10 times of AP$

Single Pay - Sum Assured Multiple 1.25 times or 10 times of SP$

 

Premium Payment Frequency

Mode

Single Pay

Mode

Annual

Mode

Semi-Annual

Mode

Quarterly

Mode

Monthly

 

Top-up Premium

Minimum Top up Premium

Rs.5,000

Maximum Top up Premium

Total Top-up premiums paid cannot exceed the sum of base premium(s) paid till that time

SP – Single Pay, RP – Regular Pay, LP – Limited Pay

## Age as on last birthday

$AP refers to Annualized Premium

*Monthly mode of Premium payment is available only through credit card, direct debit and ECS

1In case the Life Insured is a minor at the date of commencement, a. Policy vests in the Life Insured on attainment of his/her majority i.e. 18 years. b. The proposer can either be a parent or grandparent or legal guardian of the Life Insured, or any other relation subject to insurable interest between the proposer and Life Insured. The ownership of such policies will vest automatically in name of Life Insured once he/she attains majority. The right of Appointee will extinguish on the attainment of majority of Life Insured.

Age at entry

Life Insured(Min):

0 years (901 days )

Life Insured(Max):

60 years

Maturity age

Min

99 years

Max:

99 Years

Premium paying term

LP

5,7,10 to 70 minus Age at Entry

PPT 5

Max Entry age 40

PPT 7

Max Entry age 50

PPT 10 and above:

Max Entry age 60

Policy term

99 minus Age at Entry

 

Premium (Rs.)

Premium Payment Mode

Min

Single Pay

Rs. 50,000

Annual

Rs.12,000

Semi-Annual

Rs.6,000

Quarterly

Rs. 3,000

Monthly

Rs. 1,000

Premium (Rs.)

Max

No Limit; subject to Board Approved Underwriting Policy

 

Sum Assured (Rs.)

LP/RP - Sum Assured Multiple of 7 times or 10 times of AP$

Single Pay - Sum Assured Multiple 1.25 times or 10 times of SP$

 

Premium Payment Frequency

Mode

Single Pay

Mode

Annual

Mode

Semi-Annual

Mode

Quarterly

Mode

Monthly

 

Top-up Premium

Minimum Top up Premium

Rs.5,000

Maximum Top up Premium

Total Top-up premiums paid cannot exceed the sum of base premium(s) paid till that time

SP – Single Pay, RP – Regular Pay, LP – Limited Pay

## Age as on last birthday

$AP refers to Annualized Premium

*Monthly mode of Premium payment is available only through credit card, direct debit and ECS

1In case the Life Insured is a minor at the date of commencement,


a. Policy vests in the Life Insured on attainment of his/her majority i.e. 18 years.


b. The proposer can either be a parent or grandparent or legal guardian of the Life Insured, or any other relation subject to insurable interest between the proposer and Life Insured. The ownership of such policies will vest automatically in name of Life Insured once he/she attains majority. The right of Appointee will extinguish on the attainment of majority of Life Insured.

 

 

Downloads

Brochure

Download

Rates

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T&C Smart Invest

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Why choose Pramerica Life Insurance

‌
98.8% Claim Paid Ratio

Individual death claims settled and reported in public disclosures for FY 2022-23

‌
130 Branches PAN India

As reported in Annual Report for FY 2022-23

‌
Over 5.2 Million Lives Secured

As on September 2023

Need assistance?

We are happy to help you. Talk to our expert and choose the right plan as per your needs. 

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