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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  • 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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6.7 Crore
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Policies Sold

Key Features

  • It is a unit linked plan with Limited and Regular Pay options of premium payment.

  • Persistency Units are added at the end of the 10th, 15th, and 20th policy years.

  • 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:-

  • Debt Fund

  • Balance Fund

  • Growth Fund

  • Large Cap Equity Fund

  • Multi Cap Opportunities Fund


  • Persistency Units are added @ 1% of the average Fund Value in the last 3 years prior to the additions.

  • 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.

  • 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

  • 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.

  • 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


Fund Name Fund Type Fund Value(Cr) Growth (in %) Action
3 Yrs. 5 Yrs. 7 Yrs.
Debt Fund Moderate 110 4.74 6.55 8.36 Get Details
Secure Fund Low Risk 39 4.03 3.16 6.05 Get Details
Blue Chip Equity Fund High Risk 187 15.82 11.36 12.93 Get Details
Stable Fund Moderate 22 8.36 8.18 9.89 Get Details
Accelerator Fund High Risk 195 16.56 12.76 14.15 Get Details
Opportunity Fund High Risk 192 22.77 15.36 N.A. Get Details

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.


  • One free Partial withdrawal is allowed every year after 5 completed policy years with a minimum value of Rs.10,000

  • 4 free Switches are allowed every year for switching between funds

  • Premium Redirection is allowed to redirect future premiums


  • The benefit paid in case of suicide within 12 months of policy inception or revival is the fund value as of that date.

  • 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.

*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.
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