Pramerica Life Rakshak Smart Overview

The amount of money paid out to the policyholder on a regular basis, typically monthly.

A lump sum payment received at the end of the policy term, typically upon survival until the end of the policy.

A benefit provided immediately upon the occurrence of a specific event, such as death or survival, typically in the form of a cash payment.

An amount of money paid out monthly as a form of life insurance benefit.

A guaranteed annual addition to the sum assured, calculated based on the policy terms and accrued until the date of death.

Pramerica Life Rakshak Smart is a type of life insurance plan designed to offer guaranteed benefits and financial security to policyholders and their loved ones. It's a non-linked and non-participating plan, meaning the policy's value is not tied to market performance and there's no sharing of profits.

This plan guarantees specific benefits as long as the policy remains active and all premium payments are made on time. This means the amount you receive is certain and not subject to market fluctuations.

Pramerica Life Rakshak Smart provides financial protection in case of the policyholder's death, ensuring their family's financial security.

You can receive tax benefits on premium payments and benefits received under the plan, subject to current tax laws. However, it's crucial to consult a tax advisor for specific guidance as tax laws can change.

The minimum age for entering the plan varies based on the option chosen. The 'Life Option' allows for entry starting at 91 days old, while the 'Enhanced Life Option' starts at 18 years. The maximum age varies between 50 and 80 years depending on the plan.

The total amount the policyholder will receive if they pass away during the policy term.

The largest of three possible amounts: 11 times the annual premium, the base sum assured, or 105% of total premiums paid.

The guaranteed amount that is paid if Deepak survives until the end of the policy term.

An additional amount added to the yearly guaranteed income, increasing the total benefit.

The yearly amount guaranteed to be paid to Deepak if he survives the policy term.

The percentage used to calculate the Sum Assured on Death based on the number of years the policy has been in effect.

The duration for which Deepak receives a guaranteed income each year.

The initial amount of coverage provided by the policy.

A payment made to the policyholder when they choose to end their policy before it matures, representing a portion of the premiums paid.

The minimum amount guaranteed by the insurance company to be paid as Surrender Value.

The amount of Surrender Value that can be higher than the GSV, based on specific conditions like policy performance.

A feature that allows the policyholder to continue their policy without paying further premiums, but with reduced death benefits.

The amount of money paid out upon the policyholder's death, determined based on the Sum Assured on Death (SAD) and a specific Paid-up Factor.

The amount of money that the policyholder will receive if they survive until the end of the policy term.

The factor used to adjust the Death Benefit when a policy is Reduced Paid-up, signifying the reduction in benefits.

When a policy becomes invalid due to non-payment of premiums within the grace period.

The term 'outstanding duration' refers to the remaining time period for which a life insurance policy will continue to be in effect. It relates to the time left until the policy matures. For example, if someone chooses a lump sum maturity benefit and the policy has a duration of 5 years, then the outstanding duration would be 5 years.

Section 41 prevents insurance companies from offering unauthorized discounts or rebates to persuade people to buy or renew policies. It emphasizes transparency and a level playing field for all customers.

When someone attempts to gain an advantage by making false statements or hiding important information during the insurance process, it is considered fraud and can be addressed according to Section 45 of the Insurance Act of 1938.

Pramerica Life Insurance Limited is a joint venture established by two reputable financial organizations: DIL, a subsidiary of Piramal Capital and Housing Finance Limited, and PIIH, a subsidiary of Prudential Financial, Inc. They combine their expertise to offer insurance products.

Pramerica Life Insurance Limited started offering insurance products in India on September 1st, 2008, and they reach customers using various distribution channels tailored to different people's needs and preferences.

In India and a few other countries, Pramerica is the name used by Prudential Financial, Inc., showing a connection though important to remember that Pramerica is not the same as the UK-based Prudential Plc.

Pramerica Life Insurance Limited is committed to providing financial protection and providing guidance to its customers, helping them make informed decisions about their financial future.

The brochure is a summary of the product's main features, but for complete information regarding terms and conditions, refer to the official policy document, which you can find on their website.

Piramal Capital & Housing Finance Limited (PCHFL) is a housing finance company that provides loans to individuals and businesses. They specialize in retail lending to under-served markets and wholesale lending to the real estate and non-real estate sectors.

PCHFL is a wholly owned subsidiary of Piramal Enterprises Limited, which is the flagship company of the Piramal Group.

PCHFL caters to individuals in the "Bharat" market, which includes smaller cities and towns. They offer various products like home loans and small business loans.

PCHFL also provides loans to real estate companies and other businesses. These loans can be for construction projects, structured debt, or senior secured debt.

The Piramal Group has partnered with several major international investment funds like CDPQ, CPPIB, APG, Ivanhoe Cambridge, and Bain Capital.

PFI is a financial services company with operations throughout the world, managing a large amount of assets for individuals and institutions.

PFI provides a range of financial services, including life insurance, retirement planning, mutual funds, and investment management.

PFI is not connected to Prudential Plc, a company based in the United Kingdom.