Pramerica Life Rakshak Gold Plan

Pramerica Life Rakshak Gold Plan is a non-linked, non-participating endowment life insurance plan that safeguards your child's future and ensures financial protection even in your absence. Whether for higher education, marriage, or any other needs, this plan provides the necessary funds for your child's aspirations.

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Investing in your child's future:A wise decision & a loving choice
  • Insurer pays premium in case of loss of life of parent

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  • Tax Free maturity amount+

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Invest ₹10k/month your child will get ₹1 Cr Tax Free*

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What is the Pramerica Life Rakshak Gold Plan?

Pramerica Life Rakshak Gold Plan is a child plan offered by Pramerica Life Insurance. It is a non-linked, non-participating plan, which means the returns are not linked to the market performance, and you are not eligible for any bonus payouts offered by the company.

This investment plan provides the flexibility to decide the amount for your child's future requirements. It helps you to rest assured that even in the unfortunate event of your demise, your child's progress continues seamlessly. The Pramerica Life Rakshak Gold Plan allows you to enjoy regular monthly payouts to support your child's recurring needs and ensure their advancement as desired. 

Features of Pramerica Life Rakshak Gold Plan

  • Enhanced Death Benefit: Immediately supports the family in case of the insured's demise, offering a lump sum payout, monthly benefits until the policy term ends, and a final lump sum at maturity.

  • Guaranteed Maturity Benefit: Assures a predetermined payout at policy maturity, ensuring transparency and reliability.

  • Incremental Annual Guaranteed Addition: Adds to the policy's value each year, with increments occurring every three years for enhanced growth.

  • Limited Premium Payment Term: Allows for premium payments over a defined period, offering convenience and streamlined financial management.

  • Policy Loan Flexibility: Enables borrowing against the policy's value, providing financial flexibility when needed.

  • Tax Advantages: Your investments in this plan qualified for tax benefits on both premiums and benefits received, which aligns with current tax regulations.

People also read: Pramerica Life Child Plans

Eligibility Criteria

Eligibility Criteria  Details
Entry Age
  • 12- Year PT: 18 – 53 years;
  • 15- Year PT: 18 - 50 years;
  • 18- Year PT: 18 - 47 years.
Maturity Age 65 years
Premium Payment Term (PPT)
  • 12- Year PT: 7 years;
  • 15- Year PT: 10 years;
  • 18- Year PT: 10 years.
Policy Term (PT) 12/ 15/ 18 years
Premium Payment Frequency Monthly, Half-Yearly, Annually.
Minimum Premium Amount
  • Annual: ₹12,170 ;
  • Semi-Annual: ₹6,329;
  • Monthly: ₹1,096;
Sum Assured (SA) ₹75,000 - ₹5 crores*

*Based on Board Approved Underwriting Policy.

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People also read: Child Investment Plans

Benefits of Pramerica Life Rakshak Gold Plan

  1. Annual Guaranteed Addition (AGA):

    • Each completed policy year increases the AGA, provided the policy is in force for full-risk benefits.

    • AGA escalates every three policy years based on specified rates for each policy term option.

  2. Guaranteed Maturity Multiple (GMM):

    • Represents the factor applied to the Base Sum Assured for calculating the payable benefit upon maturity.

    • The GMM varies depending on the chosen policy term.

  3. Death Benefit:

    • In case of your demise during the policy term while the policy is active for full benefits:

      • An immediate lump sum payment is equal to the base sum assured.

      • Immediate payment of accrued Annual Guaranteed Addition.

      • Monthly payouts are equivalent to 2% of the Base Sum Assured, starting from the month of death for the remaining policy term. At least 36 monthly payouts are guaranteed, even if extending beyond the policy term.

  4. Maturity Benefit:

    • If you survive until the Maturity Date, and the policy remains in force for full benefits:

      • You receive an amount equal to the Base Sum Assured multiplied by the Guaranteed Maturity Multiple (GMM) plus any accrued Annual Guaranteed Additions.

    These features outline the guaranteed benefits provided by the Pramerica Life Rakshak Gold Plan in various scenarios.

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Invest ₹5K/Month YOU GET ₹50 Lakhs* For Your Child View Plans
Standard T&C Apply *

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Policy Details of Pramerica Life Rakshak Gold Plan

  1. Surrendering Your Policy:

    • You can surrender your policy at any time during its term after paying premiums for at least two consecutive years.

    • Upon surrender, you will receive a Surrender Value, which is the higher of Guaranteed Surrender Value (GSV) and Special Surrender Value (SSV).

  2. Unable to Pay Premium:

    • Your policy will lapse if you stop paying premiums before completing two consecutive years.

    • You can revive lapsed policies within five years from the first unpaid premium date by paying all due premiums with interest.

    • After paying premiums for two consecutive years, you can opt for a paid-up policy with reduced benefits or surrender it for immediate benefits.

  3. Benefits of a Reduced Paid-Up Policy:

    • If you die before maturity, the nominee receives a benefit based on premiums paid and accrued benefits.

    • On surviving till maturity, you receive benefits based on premiums paid and Guaranteed Maturity Multiple (GMM).

  4. Early Termination and Surrender Value:

    • Policies without Surrender Value after two years but with the first-year premium paid in full will receive 15% of the premiums paid upon early termination.

    • Surrendering a paid-up policy entitles you to a surrender value.

  5. Reviving a Policy:

    • You can revive a lapsed policy within five years from the first unpaid premium date by paying all unpaid premiums with interest.

    • Upon revival, you regain full policy benefits, subject to underwriting requirements.

  6. Tax Benefits:

    • You can get tax deductions of up to ₹1.5 lakhs on the premiums paid towards the policy under Section 80C

    • The lump sum payout you receive at the end of the policy term is tax-exempted under Section 10(10D) if the annual premiums paid are below ₹2.5 lakhs.

  7. Free Look Cancellation:

    • You have 15 days (30 days for distance marketing) to review the policy. If you disagree with the terms, you can return it for a refund, deducting certain expenses.

  8. Grace Period:

    • A grace period of 30 days is provided if you miss the premium due date. During this period, the policy remains in force, but unpaid premiums are deducted from claims.

People also read: Government Schemes for Girl Child

How Does the Pramerica Life Rakshak Gold Plan Work?

Step 1: Choose a Base Sum Assured between ₹75,000 and ₹5 Crores.

Step 2: Select your premium payment duration and policy term combination from the available options.

Step 3: Pay your premiums according to age, gender of the life insured, Base Sum Assured, policy terms, and premium payment terms, adhering to the company's underwriting norms.

Suicide Exclusion

  • Exclusion Period: The exclusion period in the Pramerica Life Rakshak Gold Plan is 12 months from the policy start date or from the date of revival of the policy if it had lapsed earlier.

  • Payout during Exclusion: If you die by suicide within this period, your beneficiary will receive either of the following:

    • 80% of the total premiums paid or

    • The Fund Value (available on the date of death), whichever is higher.


  • What is the Pramerica Life Rakshak Gold Plan?

    Pramerica Life Rakshak Gold Plan is a child-focused, non-linked endowment plan by Pramerica Life Insurance. It provides guaranteed benefits like a maturity benefit and death benefit to secure your child's future financially.
  • What are the benefits of the Pramerica Life Rakshak Gold Plan?

    • Guaranteed maturity benefit: Ensures a lump sum payout for your child at the policy's end term.

    • Death benefit: Provides financial support to your family in case of your unfortunate demise during the policy term. This benefit includes a lump sum amount and monthly payouts.

    • Guaranteed annual additions: Boost your savings with annual guaranteed additions that increase every 3 years.

    • Loan facility: Avail loans against your policy after it acquires a surrender value.

    • Tax benefits: Premiums paid and benefits received qualify for tax deductions up to a certain limit under prevailing tax laws.

  • What happens in case of death during the policy term?

    The nominee receives a death benefit, typically a sum assured amount plus guaranteed additions, along with monthly income payouts till the policy term ends.
  • Are there different payment modes available in the Pramerica Life Rakshak Gold Plan?

    The Pramerica Life Rakshak Gold Plan offers various payment modes, such as monthly, quarterly, or yearly, which might be found on the insurer's website or by contacting an agent.

*All savings are provided by the insurer as per the IRDAI approved insurance plan. Standard T&C Apply
*Please note that the quotes shown will be from our partners
*Tax benefit is subject to changes in tax laws
^The tax benefits under Section 80C allow a deduction of up to ₹1.5 lakhs from the taxable income per year and 10(10D) tax benefits are for investments made up to ₹2.5 Lakhs/ year for policies bought after 1 Feb 2021. Tax benefits and savings are subject to changes in tax laws.
~Source - Google Review Rating available on:-
#The lumpsum benefit is calculated if policyholder invested ₹10000 monthly for 10 years in the fund with a policy term of 20 years. This Point To Point past performance data of last 10 years has been used to illustrate a scenario for the customers benefit. It is assumed that the past 10 years returns would have also been delivered in last 20 years. This is not guaranteed and not in anyway indicative of what the customer may actually get 20 years from now. The investment is subject to market risk and the risk is borne by the policyholder.

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Pramerica Life Child Plans Reviews & Ratings

4 / 5 (Based on 26 Reviews)
(Showing Newest 10 reviews)
Ramanujganj, March 31, 2021
Affordable premium amount
The premium amount of child insurance plan which I bought last year for my child is very much affordable in nature and I like it. It was the plan of premerica and I bought it from the website of the policybazaar.
Barielly, March 30, 2021
Got high sum insured
I preferred to buy a high sum insured child insurance plan from the website of the policybazaar. It will be easy for me and my child to get best education. I don’t want to compromise with the same. It is for his benefits so that he can sustain his future.
Ambikapur, March 16, 2021
Customer support
The customer care team of policybazaar is good and well-behaved. They understood my needs and provided with best child plan of pramerica. Amazing plan with great benefits under the same. Thanks.
Bomkei, March 09, 2021
Investment at one place
I did a little bit of investment for my child as by taking a child insurance policy from the policybazaar. It is the plan of pramerica. A nice company and before buying it I did a research work too. The plan is really nice. Thanks team.
Kinnaur, July 07, 2016
Child Plan
Child insurance plan of my child is wonderful and it's service is up to the mark. Policy cover is very much and all expenditure is through policy only. Claims are easy to cleared which is possible only by the fast service given by the staff members of the company.
Ahmedabad, June 28, 2016
Good Policy
My farther gave me child insurance plan which has some nice benefits. the policy coverage is high and the returning amount is very good. Service facilitate by the executives is fantastic. Good future plan which make my dreams come true. Thanks dad.
Navi_mumbai, May 20, 2016
Best Plan
I have child plan for my child from dhfl pramerica life insurance. Policy coverage is high 89% and the premium is low. Claims are easy to get because of the fast service provided by the executives and staff members. Daily updates are also mailed to me time to time. Good future investment which save taxes. Really good job guys, I like the terms and conditions of the policy.
Meerut, May 20, 2016
Good Policy Coverage
The child plan for my child which i buy from dhfl pramerica life insurance. Policy coverage is high 90% and the premium is low. Claims are easy to get because of the fast service provided by the executives and staff members. Daily updates are also mailed to me time to time. Fine policy good work. Good future investment and it save tax also.
Indore, May 20, 2016
Future Savings
I own an awesome dhfl pramerica child plan for my child. The claim is high and the policy coverage is 92%. Service you provided is fast and very quick. Daily updates are mail and texted to me. The policy is good for future investment and it saves taxes also. I'm satisfied with the policy and its terms and conditions.
Lonavla, May 20, 2016
Excellent Policy
My policy is dhfl pramerica child plan for my child is really good. The policy is nice with good benefits. Good policy coverage ~90% and claiming amount is Rs.33 L after policy get mature. But the service is bit slow, please improve it. And the behaviour of the executives and staff members are nice. Good future investment with saving tax too.
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