The Pramerica Life Magnum Assure Plan is a savings plan designed for individuals who want guaranteed income along with life insurance protection. Offered by Pramerica Life Insurance, this plan helps policyholders build disciplined savings while ensuring financial support for their families. It provides guaranteed monthly payouts after the policy term, making it suitable for people who want predictable returns instead of market-linked investments.
The following is the eligibility criteria for the Pramerica Life Magnum Assure Plan:
| Criteria | Minimum | Maximum |
| Entry Age | 18 Years | 55 Years (10-Year Term) / 50 Years (15-Year Term) |
| Age At Maturity | — | 65 Years |
| Policy Term | 10 Years | 15 Years |
| Premium Payment Term | Equal To Policy Term | — |
| Annual Premium | ₹48,000 | No Limit |
| Premium Payment Mode | Monthly / Yearly | — |
| Payout Period | 120 Months (10-Year Term) | 180 Months (15-Year Term) |
Some of the key features of the Pramerica Life Magnum Assure Plan include:
If you are looking to build long-term wealth with protection, you can also explore different investment plans that combine savings with life insurance benefits.
The plan offers both savings and protection benefits designed to provide financial security and guaranteed income.
You can explore other options under Pramerica Investment Plans to compare features, benefits, and premium options offered by the insurer.
Understanding the policy terms helps individuals make better decisions when choosing a savings plan for long-term financial security.
A grace period of 15 days during which the monthly premiums should be paid, and 30 days during which other modes of payment should be paid, is permitted to pay the premium after the due date without jeopardizing the policy benefits.
If the policy lapses due to nonpayment of the premium, it can be revived within the next five years from the date of the first premium due and the interest charged.
The policyholders are given a free look period of 30 days after issuing the policy document to examine the terms and conditions and cancel the policy in case they are not satisfied with the policy.
The policy will be surrendered when the minimum required premiums have been paid. In case of surrendering, the surrendered value will be received in terms of the policy.
In this plan, fund switching is not possible as it is an insurance policy that is not linked.
When the policy gathers a surrender value, one can borrow a loan.ainst the policy, subject to the company’s terms and conditions.
If the life insured dies due to suicide within 12 months from policy commencement or revival, the benefit will be paid according to the policy conditions.

˜The insurers/plans mentioned are arranged in order of highest to lowest first year premium (sum of individual single premium and individual non-single premium) offered by Policybazaar’s insurer partners offering life insurance investment plans on our platform, as per ‘first year premium of life insurers as at 31.03.2025 report’ published by IRDAI. Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by any insurer. For complete list of insurers in India refer to the IRDAI website www.irdai.gov.in
*All savings are provided by the insurer as per the IRDAI approved insurance plan. Standard T&C Apply
^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.
¶Long-term capital gains (LTCG) tax (12.5%) is exempted on annual premiums up to 2.5 lacs.
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