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In Unit Linked Insurance Policies, the investment risk is borne by the policyholder. These insurance products do not offer any liquidity in the first 5 years, as they have a mandatory lock-in period of 5 years. During this period, the policyholder cannot fully or partially withdraw the invested amount or surrender the policy.
Pramerica Life Smart Wealth+ Plan
Pramerica Life Smart Wealth+ is a Unit Linked Non-Participating Life Insurance Plan. It helps you build wealth for specific goals and events in your life.
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Insurance Companies in India
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Pramerica Ulip Plans
- DHFL Pramerica Smart Wealth+ Plan
Key Features
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It is a unit linked plan with Limited and Regular Pay options of premium payment.
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Persistency Units are added at the end of the 10th, 15th, and 20th policy years.
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There is an option of Fund Conservation at Maturity whereby the units from all the funds will be directed to the Debt Fund every half year in the last 3 policy years to protect the Fund Value from market fluctuations toward maturity.
The following Funds are available for Investment:-
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Debt Fund
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Balance Fund
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Growth Fund
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Large Cap Equity Fund
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Multi Cap Opportunities Fund
Benefits
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Persistency Units are added @ 1% of the average Fund Value in the last 3 years prior to the additions.
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The insured will get the total Fund Value on Maturity, which can either be taken in a lump sum or availed in installments over 5 years post Maturity under the Settlement Option, and exploring the best SIP plans can help investors build wealth steadily over time.
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On the death of the policyholder, higher of the Sum Assured net of partial withdrawals made in the last 2 years if the age attained was less than 60 years or Fund Value subject to a minimum of 105% of all premiums paid till death is payable
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If the age attained was more than 60 years, higher of the Sum Assured less withdrawals made after age 58 or the Fund Value subject to a minimum of 105% of all premiums paid is payable.
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Income tax benefit on the premium paid as per Section 80C and on claims under Section 10(10D) of the Income Tax Act.
Product Specification:
| Minimum | Maximum | |
| Entry Age (Last Birthday) | 8 years | 55 years |
| Maturity Age (Last Birthday) | - | 75 years |
| Policy Term (PT) in years | 20 | |
| Premium Paying Term (PPT) in years | 5 / 10 / 15 / 20 | |
| Premium paying Frequency | Annual, half-yearly, quarterly, monthly | |
| Yearly Premium | 30,000 | No limit |
| Sum Assured | For PPT 5 years – 10*annual premium for ages<45 years or 7*annual premium for ages>=45 years
For PPT 10, 15, 20 yrs. – 10*annual premium |
No limit |
Latest ULIP NAVs
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| Fund Name≈ | Fund Type | Fund Value(Cr) | Growth (in %) | Action | ||
| 3 Yrs. | 5 Yrs. | 7 Yrs. | ||||
| Accelerator Fund | High Risk | 195 | 16.56 | 12.76 | 14.15 | Get Details |
| Blue Chip Equity Fund | High Risk | 187 | 15.82 | 11.36 | 12.93 | Get Details |
| Debt Fund | Moderate | 110 | 4.74 | 6.55 | 8.36 | Get Details |
| Opportunity Fund | High Risk | 192 | 22.77 | 15.36 | N.A. | Get Details |
| Secure Fund | Low Risk | 39 | 4.03 | 3.16 | 6.05 | Get Details |
| Stable Fund | Moderate | 22 | 8.36 | 8.18 | 9.89 | Get Details |
Disclaimer: ≈ Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by any insurer. This list of plans listed here comprise of insurance products offered by all the insurance partners of Policybazaar. The sorting is done in alphabetical order (Fund Data Source: Value Research). For a complete list of insurers in India refer to the Insurance Regulatory and Development Authority of India website, www.irdai.gov.in
Details about Premium
Premium in Rupees and Benefit Illustration for a term of 20 years and PPT for 5 years
| Age | 35 years | 45 years | 55 years |
| Premium | 50,000 | 50,000 | 50,000 |
| Sum Assured | 5,00,000 | 3,50,000 | 3,50,000 |
| Fund Value @ 4% | 3,02,739 | 3,04,292 | 2,54,018 |
| Fund Value @ 8% | 6,55,551 | 6,57,588 | 6,26,080 |
Policy Details
Grace Period: 15 days grace period is allowed for monthly mode and 30 days for other modes of premium payment, after which the policy lapses.
Policy Termination or Surrender Benefit: Policyholder is allowed to surrender the policy after 5 completed years. If surrendered before 5 years, the fund value net of discontinuation charge will be credited to the Discontinued Policy Fund, where it will earn a minimum of 4% p.a. growth. After the completion of 5 years, the fund value in the Discontinued Policy fund as of that date will be paid to the policyholder. If surrendered after 5 completed policy years, the entire Fund value on the date of surrender is paid without any charges
Free Look Period: If you are not pleased with the coverage, and terms and conditions of the policy, you have the option of canceling the policy within 15 days of receipt of the policy documents, provided there has been no claim.
Inclusions
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One free Partial withdrawal is allowed every year after 5 completed policy years with a minimum value of Rs.10,000
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4 free Switches are allowed every year for switching between funds
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Premium Redirection is allowed to redirect future premiums
Exclusions
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The benefit paid in case of suicide within 12 months of policy inception or revival is the fund value as of that date.
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For the rider's benefit, accidental deaths due to any self-inflicted injury, acts of criminal nature, war, aviation, participation in hazardous activities, alcohol abuse, etc., are excluded
Documents Required
Policyholder has to fill up an 'Application form/ proposal form' with an accurate medical history and submit KYC documents.
Insurers Offering ULIPs
Disclaimer: Policybazaar Insurance Brokers Private Limited does not endorse, rate or recommend any particular insurer or insurance product offered by an insurer.
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˜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 Insurance Brokers Private Limited 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.
++Source - Google Review Rating available on:- http://bit.ly/3J20bXZ