Pramerica Life ULIP Plans

Pramerica Life ULIP Plans are a dynamic and versatile suite of insurance products that combines life protection with wealth creation opportunities. Pramerica Life’s Unit Linked Insurance Plans (ULIPs) offers the benefits of both financial security and investment growth. It provides you with a unique opportunity to secure your future while actively participating in the potential upside of the financial markets.

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Best ULIP Plans
  • Guaranteed Tax Savings

    Guaranteed Tax Savings^

    Under sec 80C & 10(10D)
  • savings

    ₹1 Crore

    Invest ₹10k Per Month*
  • Zero LTCG Tax

    Zero LTCG Tax^

    Unlike 10% in Mutual Funds

Top performing plans with High Returns*

Invest ₹10K/month & Get ₹1 Crore returns*

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Fund Size: 32 Cr
32 Cr
28.3 0.02%
5.63%
5.72%
6.96% Highest Returns
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Grow Your Wealth!

Best ULIP Funds - Consider the best performing ULIP funds to invest in 2024 with Policybazaar. Find the list of best ULIP funds in India on the basis of Returns, Latest Nav, Fund Size and Categories

Data source : value research

Returns as on 23-05-2024. The returns are the returns of best-performing fund in the plan

About Pramerica ULIP Plan

Pramerica ULIP Plan is an investment option that combines insurance with investment opportunities. ULIP stands for Unit Linked Insurance Plan, offering you the flexibility to invest in various funds while providing life insurance coverage. It allows you to customize your investment portfolio based on your risk appetite and financial goals. Pramerica ULIP Plan aims to provide long-term wealth creation and financial protection through a single integrated product.

Types of Pramerica Life ULIP Plans

Pramerica Life Insurance Company sells ULIP Plans to its customers, providing dual benefits of market-linked returns and life insurance protection under the same plan. Let us see the different types of plans offered by the company:

Pramerica Life ULIP Plan Entry Age Maximum Maturity Age Premium Payment Term (PPT) Policy Term (PT) Minimum Premium (in Rs.) Tax Benefits under the Income Tax Act, 1961
Pramerica Life Smart Wealth+ Plan 8 - 55 years 75 years 5/ 10/ 15/ 20 years 20 years Rs. 30,000 per annum Section 80C and Section 10(10D)
Pramerica Life Wealth+ Ace Plan 90 days - 65 years 75 years Single 10/ 15/ 20/ 25 years Rs. 65,000 Section 80C and Section 10(10D)

Let us learn the above mentioned ULIP plans in detail in the following sections.

  1. Pramerica Life Smart Wealth+

    A Unit Linked Insurance Plan where the premiums paid are invested in the market for linked returns. 

    Features of Pramerica Life Smart Wealth+:

    • Fund Switching: Switch your investments across different funds to adapt to market conditions.

    • Persistency Units: Get rewarded for staying invested with bonus units allocated at the 10th, 15th, and 20th policy anniversaries.

    • Top-up Premiums: Increase your investment corpus anytime during the policy term.

    • Automatic Switch to Debt Fund: Towards the end of the policy term (last 3 years), your investments are gradually shifted to a debt fund for capital protection.

    Invest more and Get more with ULIP Plan Invest more and Get more with ULIP Plan

    People also read: What is ULIP

  2. Pramerica Life Wealth+ Ace

    A Unit Linked Insurance Plan under which the premium is paid only at plan commencement in one lump sum. 

    Features of Pramerica Life Wealth+ Ace:

    • STP (Systematic Transfer Plan) Option: Invest a fixed amount regularly through automatic transfers from your bank account.

    • Top-up Premiums: Make additional investments to boost your fund value.

    • Rider Options: Enhance your coverage with optional riders like critical illness cover or accidental death benefits.

    • Tax Benefits: Enjoy tax deductions on premiums paid and maturity proceeds under Section 80C and 10(10D), respectively, of the Income Tax Act.

People also read: ULIP Calculator

Steps to Apply for IndiaFirst ULIP Plan through PolicyBazaar

Step 1: On the PolicyBazaar homepage, click on ULIPs under the Personal tab.

Step 2: Click New Quotes to compare and choose from top insurance providers.

Step 3: Fill in your date of birth (DOB), whether you are a smoker/non-smoker, and the payout amount. Based on your payout amount, you will get an estimate of your premium. Next, click Continue.

Step 4: Fill in your name, email address, city, country code, and mobile number. Click Continue.

Step 5: You will be taken to the Life Insurance quotes page, where you will see life insurance quotes from more than 10 insurers. Next, choose the plan as per the payment schedule – One Time Payout and Monthly Payout Plans.

Step 6: After reviewing and comparing each life insurance quote, click the premium amount to buy the desired plan.

Step 7: You will see a pop-up on the screen that will give you an overview of the chosen plan, like premium, plan features, exclusions, additional riders, etc. Click Proceed.

Step 8: This will take you to the insurer’s website. You will have to fill in the necessary details to buy the plan.

FAQ's

  • Is the Pramerica ULIP plan a good plan?

    Whether a Pramerica ULIP plan is a good plan for you depends on your individual needs and circumstances. However, you can consider some of the following advantages of Pramerica ULIP plans:
    • Life insurance protection:

    • Market-linked funds

    • Tax benefits under Section 80C and Section 10(10D)

    • Flexibility in terms of premium payment, fund switching, and partial withdrawals

  • What are the disadvantages of the Pramerica ULIP plan?

    The major disadvantages of Pramerica ULIP plans are as follows:
    • ULIP policy charges

    • Market volatility

    • Limited fund choice

    • Complexity

  • How do I choose a Pramerica ULIP plan?

    Choosing the right Pramerica ULIP plan requires careful consideration of your individual needs and circumstances, such as following:
    • Assess your financial goals and risk tolerance.

    • Understand the plan options and features.

    • Consider the fund options available.

    • Compare charges and fees associated with the plan.

    • Check the historical performance of the funds.

    • Review the flexibility and liquidity features.

    • Consult with a financial advisor for personalized advice.

    • Read and understand the policy document before making a decision.

*All savings are provided by the insurer as per the IRDAI approved insurance plan. Standard T&C Apply
Tax benefit is subject to changes in tax laws
~Source - Google Review Rating available on:- http://bit.ly/3J20bXZ
^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.
^^The information relating to mutual funds presented in this article is for educational purpose only and is not meant for sale. Investment is subject to market risks and the risk is borne by the investor. Please consult your financial advisor before planning your investments.

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