Pramerica Life Wealth Maximiser ULIP Plan

Eligibility Criteria for the Pramerica Life Wealth Maximiser Plan

The plan offers flexible premium payment options such as single pay, limited pay, and regular pay, allowing individuals to choose according to their financial capacity and planning horizon.

Features of the Pramerica Life Wealth Maximiser Plan

Here are the key features of the plan:

• Flexible Premium Payment Options: The policyholder can choose single premium, limited payments, or regular payments based on their financial planning needs.
• Multiple Investment Fund Options: The plan offers a variety of investment funds, including equity, debt, and balanced funds, so policyholders can choose investments based on their risk profile.
• Choice of Investment Strategies: Policyholders can manage their investments through options such as the Defined Portfolio Strategy or the Life Stage Portfolio Strategy.
• Wealth Boosters: Additional units may be added to the fund value at specific policy anniversaries for policyholders who continue the policy for longer durations.
• Persistence Units: Frequent premium payers can earn persistence units, which can help build fund value.
• Systematic Transfer Plan: An investment alternative that allows policyholders to systematically transfer investments from one fund to another, useful for managing market swings.
• Top-Up Premium Facility: The plan gives the opportunity to add top-up premiums throughout the policy time to get the value of investments and life cover increased.

If you are looking for long-term savings with insurance coverage, you can also check different investment plans that help build wealth while securing your family’s future.

Benefits of the Pramerica Life Wealth Maximiser Plan

The plan provides both protection and investment benefits to help individuals build long-term financial stability.

• Maturity Benefit: In case the life insured manages to live until the end of the policy term, the policyholder will earn the sum of the fund value that has been amassed throughout the policy period.
• Death Benefit: In the event of the unfortunate death of the life insured of the policy within the period of maturity, the nominee recovers the maximum of the following:
  • Sum assured, including top-up sum assured
  • Fund value, including top-up fund value
  • 105% of the total premiums paid

This benefit ensures financial protection for the family during difficult times.

• Long-Term Wealth Creation: A quantified unit-linked insurance plan offers the opportunity to invest in market-linked funds, which can deliver capital growth over time.
• Flexibility in Investment Management: Policyholders are given the right to switch among available funds and adjust their investment allocation as per market conditions and their financial objectives.

Policy Details of the Pramerica Life Wealth Maximiser Plan

Understanding the policy terms is important when selecting a ULIP for long-term financial planning.

1. Grace Period

   There is a grace period of 30 days (15 days in the monthly mode) following the due date of the premium, during which payment will not affect the policy status.

2. Revival

   If the policy lapses due to default in payment of premiums, it can be revived within 3 years from the date of the last unpaid premium by paying the premiums.

3. Free Look Period

   Policyholders are allowed 30 days from receipt of the policy document to review the terms and conditions. If they do not agree with the policy, they may cancel it within this period.

4. Surrender

   The policy provides a surrender value in the first year, and the proceeds are paid out by the end of the five-year lock-in period.

5. Fund Switching

   The policy allows switching between available funds during the term, helping policyholders adapt their investment strategy to different market conditions.

   You can explore more options under Pramerica ULIP Plans to compare similar market-linked policies that offer both investment growth and life insurance protection.

Exclusions Under the Pramerica Life Wealth Maximiser Plan

Suicidal Clause

It is a life insurance that is paid out upon death due to suicide in the next 12 months after the date of commencement or revival of the policy.