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All About Pramerica Life ULIP Plans

Updated On Jul 10, 2021

The Pramerica Life Insurance Company offers consumers ULIP Plans, which combine the benefits of market-linked returns and life insurance coverage into a single plan. The company provides a comprehensive selection of life insurance products for individuals and groups that address their varied financial goals.

The company currently offers four ULIP plans. Let us have a look at them in this article.

  • Pramerica Life Wealth Maximiser

It is a non-participating unit-linked life insurance plan that is financially equipped and adequately insured to meet your needs and future financial expectations.

Key Features

1. Flexibility to choose from Single, Regular or Limited Premium Payment tenures.

2. Reduced charges

3. Fund Option: 5

4. Defined Portfolio Strategy.

5. Avail Systematic Transfer Plan

6. Top-up premium.

7. Fund Conservation at Maturity

Choice of Investment Strategies

Policyholders can select one of the investing strategies listed below at the time of purchase. 

  • Defined Portfolio Strategy
  • Life Stage Portfolio Strategy

Eligibility Criteria

Entry Age: 90 Days(Min) - 65 Yrs (Max)

Maturity Age: 18 Yrs (Min) -75 Yrs(Max)

Premium Payment Mode:  Single, Annual, Half-Yearly, Quarterly and Monthly

  • Pramerica Life Smart Wealth+

It is a non-participating unit-linked life insurance plan that provides life insurance for your family while also providing strong returns to assist meet rising expenses, as well as the benefits of protection and wealth growth.

Key Features

1. Option to choose regular or limited Premium Payment tenure.

2. Wealth creation 

3. Loyalty additions in the form of Persistency Units.

4. Fund options: Five 

5. Fund Conservation Option

Choice of Investment Funds

The investors have the choice of investing in one of five funds. You can compare the investment objectives of each of the funds to your own investment objectives, and then determine how much money you want to invest in each of them.

Eligibility Criteria

Age At Entry: 8 Years(Min) - 55 Years(Max)

Maximum Maturity Age: 75 Years

Premium Payment Mode: Annual, Half-Yearly, Quarterly and Monthly

  • Pramerica Life Wealth+Ace

Pramerica Life Wealth+Ace is a Unit Linked Non-Participating Single Premium Life Insurance Plan. It is a one-time investment plan that helps you reach your goals by providing investment opportunities, allowing your loved ones to have a financially secure and protected future.

Key Features

1. Invest one time and reap many benefits across the policy term.

2. Persistency Units: at the end of every 5th year starting from 10th policy anniversary

3. Benefits Of Systematic Transfer Plan

Choice of Investment Strategies

The investors can put their money into one of four different funds. You can compare each fund's investment objectives to your own, and then decide how much money to put into them.

Eligibility Criteria

Entry Age: 

8 Years for Policy Term 10 Years

3 Years for Policy Term 15 Years

90 Days for Policy Term 20 or 25 Years

Maximum: 65 Years

Maximum Age At Maturity:  75 Years

Premium Payment Mode: Single Pay

  • Pramerica Life Wealth Enhancer

It is a  non-participating unit-linked single premium life insurance plan that helps you reach all of your financial goals while also protecting your family from life's challenges. Pramerica Life has incorporated all of the 

Savings and security requirements into a single-pay ULIP plan. 

Key Features

1. Pay just once and enjoy benefits up to 20 years

2. Wealth Additions 

3. Wealth Boosters

4. Option of Fund conservation at Maturity 

5. Life Stage Portfolio Strategy

6. Tax benefits 

7. Fund Options: 5

Choice of Investment Strategies

You can only choose one of the following investment strategies at the start:

  • Defined Portfolio Strategy; or
  • Life Stage Portfolio Strategy

Eligibility Criteria

Entry Age: 1 Year (Min) - 70 Years (Max)

Age At Maturity: 18 (Min) 75( Max)

Premium Payment Mode: Single Pay

Take Away

Customers can purchase ULIP Plans from Pramerica Life Insurance, which combine the benefits of market-linked returns and life insurance coverage into a single plan. Investors should take note of the plan's essential elements and make an informed decision based on the information.

Also Read: 

Top 10 Benefits of ULIPs

How To Invest In Equity Through ULIPs?

Disclaimer: This article is issued in the general public interest and meant for general information purposes only. Readers are advised not to rely on the contents of the article as conclusive in nature and should research further or consult an expert in this regard.

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