Pramerica Life Super Investment Plan

Eligibility Criteria for the Pramerica Life Super Investment Plan

Features of Pramerica Life Super Investment Plan

Below are the features of Pramerica Life Super Investment Plan:

• Three Plan Options: Policyholders may choose Wealth Builder, Dream Builder, or Inheritance Builder based on their financial aim.
• Zero Premium Allocation Charge: The plan does not incur a premium allocation fee, allowing it to invest the majority of the premium at the start.
• Multiple Investment Funds: The investors have 9 fund choices, including equity, debt, balanced, and index-tracking funds.
• Flexible Investment Strategies: There are two strategies: the Defined Portfolio Strategy and the Life Stage Portfolio Strategy.
• Unlimited Fund Switching: To respond to market changes, policyholders can switch funds without incurring any extra fees.
• Additions and Boosters Persistence: Additional units are credited at time intervals to policyholders who continue with the plan and make regular payments.
• Return of Mortality and Waiver Charges: All mortality and waiver-of-premium deductions deducted during the policy term are refunded at maturity.

Benefits of the Pramerica Life Super Investment Plan

As one of the flexible Pramerica Life ULIP Plans, this policy provides both insurance protection and long-term investment opportunities for policyholders. Let's look at some of the benefits of the plan.

Life Insurance Protection: The nominee will be offered the sum assured, the fund, or 105% of the premiums paid in case of the death of the policyholder.

• Market-Linked Wealth Growth: Capital markets are associated with investments that offer the potential for long-term growth.
• Maturity Benefit: Should the policyholder survive the policy term, the full fund value of the investments made with the top-up investments is paid.
• Systematic Withdrawal Option:Since the 10th policy year, policyholders may make periodic withdrawals of a percentage of the value of their funds.
• Tax Advantages: The amounts paid in premiums and received in benefits may be tax-deductible or tax-exempt under existing tax laws.

These features make the Pramerica Life Super Investment Plan a competitive option among the best investment plans for individuals seeking protection and growth together.

*The plan does not offer standalone riders. However, the Waiver of Premium (WOP) benefit is inbuilt under the Dream Builder option.*

Policy Details of the Pramerica Life Super Investment Plan

1. Grace Period

   Annual, quarterly, and half-yearly modes offer a grace period of 30 days, while the monthly mode offers 15 days to pay the premium after the due date.

2. Revival

   An abandoned policy may be revived after three years from the initial unpaid premium by paying up the arrears.

3. Free Look Period

   The policyholders are given 30 days from the date they receive the policy document to review the terms and cancel the policy if they are not satisfied.

   

4. Surrender

   The surrender value is received by the policy at once, though partial withdrawals can only be obtained after five years of lock-in.

5. Fund Switching

   The defined portfolio strategy provides flexibility to adjust investments, allowing investors to change funds without charges.

*Pramerica Life Super Investment plan does not include a Total Permanent Disability benefit except under selection or riders.*