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Pramerica Life Secure Savings Plan

Summary Info

Insurance Company	Pramerica Life Insurance Company Ltd
Plan Name	Pramerica Life Secure Savings Plan
Plan Nature	TRADITIONAL
Plan Category	Savings & Investment Plan
UIN No.	140N071V01
About Plan	This is a Non-Linked Non-Participating Endowment Life Insurance Plan. This is a savings cum protection plan that offers guaranteed annual income along with a lump sum savings booster paid out with the final income instalment.

Basic Details

Minimum Entry Age	5 Years
Maximum Entry Age	60 Years
Minimum Maturity Age	18 Years
Maximum Maturity Age	73 Years
Policy Term	13 Years
Premium Payment Term	8 Years / 10 Years / 12 Years
Minimum Annualised Premium	Rs. 25,000/- (Annual Mode); Rs. 30,000/- (Other Modes);
Maximum Annualised Premium	No limit, subject to board approved underwriting policy
Minimum Sum Assured	11 * Annualised Premium; (Minimum Base Sum Assured will be: 11 * Rs. 25,000 = Rs. 2,75,000/-)

Key Benefits

Benefits

Particulars	Description
Maturity Benefits	On Survival of the Life Insured till the end of the policy term and provided all due premiums have been paid, life insured will receive Annual Payouts during the Payout Period, plus Savings Booster with last Annual Payout installment as Maturity benefit. Where Annual Payouts will be 150% or 175% of Annualised Premium, based on Premium Payment Term and Savings Booster is Annualised Premium multiplied by Savings Booster Multiple. In the unfortunate event of death of Life Insured during the Payout Period, the beneficiary will continue to receive the outstanding Annual Payouts and Savings Booster when due. The beneficiary would have the option to take lump sum amount which will be discounted value of remaining Annual Payouts (if any) and Savings Booster at 8.85% per annum. Maturity Benefit payable on the basis of different Premium Payment Terms Premium Payment Term of 8 Years: Annual Payouts - 8 annual installments of 150% of Annualised Premium# from the end of 14th year to 21st year Savings Booster - At the end of 21st year based on your entry age and premium band Premium Payment Term of 10 Years: Annual Payouts - 10 annual installments of 175% of Annualised Premium# from the end of 14th year to 23rd year Savings Booster - At the end of 23rd year based on your entry age and premium band Premium Payment Term of 12 Years Annual Payouts - 12 annual installments of 175% of Annualised Premium# from the end of 14th year to 25th year Savings Booster - At the end of 21st year based on your entry age and premium band
Death Benefits	In the unfortunate event of demise of the Life Insured during the Policy Term while the policy is in-force, the Company will pay lump sum benefit equal to Sum Assured on Death. Where Sum Assured on Death will be highest of: i) 11 times the Annualised Premium (or) ii) 105% of all the premiums paid* till date of death (or) iii) Maturity Sum Assured = (One Annual Payout (multiplied by) Lump Sum Factor for annual payout) (plus) Saving booster (multiplied by) Lump Sum Factor for savings booster) (or) iv) Guaranteed amount assured to be paid on death, which is the Base Sum Assured. Policy will terminate after the payment of Death Benefit.
Loan against policy	You may take a loan against your Policy once it has acquired a Surrender Value. The maximum loan that can be availed is 75% of the Surrender Value. The interest on loans will be charged at market related rates set by the Company from time to time.
Surrender Benefit	If your Policy acquired a Surrender Value, you can choose to discontinue your policy, will be entitled to receive Surrender Value which will be higher of the Guaranteed Surrender Value (GSV) or Special Surrender Value (SSV) of the Policy. The Policy will be terminated once it is surrendered and cannot be revived.

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