Pramerica Life Rakshak Smart Life Insurance Plan PDF

Pramerica Life Rakshak Smart A Non-Linked Non-Participating Individual Life Insurance Savings Plan WE COVER WAR AND WAR-LIKE SITUATIONS  Pramerica Life Rakshak Smart A Non-Linked Non-Participating Individual Life Insurance Savings Plan You want to continuously power your drea...

Pramerica Life Rakshak Smart A Non-Linked Non-Participating Individual Life Insurance Savings Plan WE COVER WAR AND WAR-LIKE SITUATIONS  Pramerica Life Rakshak Smart A Non-Linked Non-Participating Individual Life Insurance Savings Plan You want to continuously power your dreams that you have Guaranteed benefits: No ambiguity and no surprises. This plan nurtured for your loved ones, and are looking at ways for offers guaranteed benefits provided the policy is in force and all providing them with a secure future. Helping you live your due premiums are paid in full. dreams and prepare for times of uncertainty is at the heart of what we do. We say, ‘long live dreams!’ with a lot of Tax benefits: Tax benefits may be applicable on premiums paid responsibility and therefore, we help you beat uncertainties & and on benefits received, as per prevailing income tax laws. Tax unpredictability of life with confidence and clarity. This can laws are subject to change, please consult a tax advisor. be achieved with a reliable Life Insurance plan that not just provides you a life cover but also offers assured benefits. Eligibility Criteria: Presenting Pramerica Life Rakshak Smart, a life insurance plan Life Option: 91 days to 60 years with guaranteed benefits. So, go ahead in the direction of your Age at Entry Enhanced Life Option: 18 years to 50 years dreams and prepare strong for any surprise that life throws Life Option: 18 years to 80 years Maturity Age at you. Enhanced Life Option: 28 to 70 years Policy Term & Policy Term (years) 10 12 15 20 Premium Payment Term Premium Payment Term (years) 5 7 10 12 Key Benefits Minimum: `1,50,000 Base Sum Assured Maximum: No Limit, subject to Board Approved Choose the protection you need for your family: Underwriting Policy Minimum: Get life insurance cover during the policy term to secure your For Life Option: `19,445 loved ones. Annual Premium For Enhanced Life Option: `20,567 Maximum: No Limit, subject to Board Approved You could choose from two plan options as per your life Underwriting Policy insurance needs. Premium Payment Mode Annual, Semi-Annual and Monthly All reference to age are based on age as on the last birthday. Substandard lives Choice of two plan options: may also be covered subject to Board Approved Underwriting Policy and with any extra Premium, if applicable. Taxes as applicable will be charged over and above Life Option: It helps to supplement your savings and fulfil your the quoted Premium. financial responsibilities. Enhanced Life Option: It provides comprehensive protection Boundary conditions for policies sourced to meet immediate, recurring and future needs of your loved through point of sales person ones. Only “Life Option”, can be sourced through point of sales Flexibility: person. There will be no medical underwriting for policies sourced through POS Person. An option to choose your policy term: 10 years | 12 years | 15 years | 20 years to align with your future goals. Premiums are payable for 5 years | 7 years | 10 years | 12 years respectively. You may choose to receive your guaranteed income in annual or monthly installments during the payout period. 2 Eligibility Criteria for POS Channel: Guaranteed Income Savings Booster Total Benefits Payout Period (Annual) Minimum: 91 days Maximum as per table given below: 16th year `1,20,000 `1,20,000 Age at entry Policy Term (yrs) 10 12 15 20 17th Year `1,20,000 `1,20,000 Max entry age (yrs) 55 53 50 45 18th year `1,20,000 `1,20,000 Maturity Age 18 years to 65 years 19th year `1,20,000 `1,20,000 Policy Term & Policy Term (years) 10 12 15 20 020 year `1,20,000 `2,44,800 `3,64,800 th Premium Payment Term Premium Payment Term (years) 5 7 10 12 Minimum: `1,50,000 Total Maturity Benefit `8,44,800 Maximum: The maximum Base Sum Assured will be Base Sum Assured subject to Sum assured on Death of `25 Lakh as per Savings Booster of the prevailing POS guidelines, as `2,44,800 amended from time to time Minimum: `19,445 Guaranteed Income of Annual Premium Maximum: Corresponding to maximum Sum assured `1,20,000 p.a. for 5 Years `45,171 p.a. for 10 years on Death of `25 lacs Premium Payment Annual, Semi-Annual and Monthly Mode 0 15 16 17 18 19 20 Sum Assured Bands Scenario II: In case of unfortunate demise of Sukhdev at the Band Band 1 Band 2 Band 3 Band 4 end of the 1st year, beneficiary shall receive the following death Base Sum `1,50,000 to `2,50,000 to `4,00,000 to `7,50,000 & benefit: Assured `2,49,999 `3,99,999 `7,49,999 above Immediate (A) Total Monthly Benefit at end of Total Death Income (B) policy term (C) Benefit (A+B+C) Base Sum Assured 2% of Base Sum Base Sum How does the plan work? + Annual Assured for the Assured Guaranteed rest of the policy (multiplied by) You can purchase this policy either through any of our Additions term Guaranteed intermediary or online from our website in just 3 simple steps: Maturity Multiple factor Step 1: Choose between one of the two plan options, Life Option `3,00,000 `10,08,000 Rs.6,00,000 `19,08,000 or Enhanced Life Option. Step 2: Choose your Base Sum Assured subject to a minimum Immediate Benefit of Lump sum at end of policy `3,00,000 term `6,00,000 of `1,50,000. The Base Sum Assured is utilized to determine the Guaranteed Benefits under your policy, you may check the Monthly Income of `6,000 p.m. for 14 years guaranteed amount available at policy maturity to ensure that your financial needs are met. Step 3: Choose your Policy Term and premium payment mode, 0 15 align the policy term according to your savings horizon and future goals; and pay premiums according to chosen frequency. Scenario III: In case of unfortunate demise of Sukhdev at the The premium under this plan shall be determined basis your end of the 14th year, beneficiary shall receive the following age at entry and the chosen plan option, Base sum assured and death benefit: policy term as mentioned above. Immediate (A) Total Monthly Benefit at end of Total Death Let’s understand this through an example Income (B) policy term (C) Benefit (A+B+C) Example 1: Sukhdev, a healthy 25 year old man, opts for Base Sum 2% of Base Sum Base Sum Assured Pramerica Life Rakshak Smart (Enhanced Life Option) with a Assured + Annual Assured for the (multiplied by) Guaranteed rest of the policy Guaranteed policy term of 15 Years and premium payment term of 10 years. Additions term subject to a Maturity Multiple He pays an annual premium of `45,171 (excluding taxes) and minimum of 36 factor his base sum assured is `3,00,000. monthly payouts `4,56,000 `2,16,000 `6,00,000 `12,72,000 Scenario I: If Sukhdev survives till the end of the policy term, he shall receive the following benefits: Lump sum at end of policy term `6,00,000 Immediate Monthly Income Benefit of of `6,000 p.m. `4,56,000 for 3 years `45,171 p.a. for 10 years 0 14 15 16 17 3  Example 2: Deepak, a healthy 35 year old male, opts for a. Sum Assured on Death and, Pramerica Life Rakshak Smart (Life option) with a policy term b. Accrued Annual Guaranteed Additions till the date of of 20 years and premium payment term of 12 years. He pays an death. annual premium of `1,22,090 every year (excluding taxes) and his base sum assured is `10,00,000. The Sum Assured on Death for Life Option is highest of: Scenario I: If Deepak survives till the end of the policy term, he 11 times Annualised Premium# (or) shall receive the following benefits: Base Sum Assured (or) Guaranteed Income Savings Booster Total Benefits 105% of the total premiums paid till the date of death Payout Period (Annual) (or) 21st year `5,00,000 `5,00,000 X% of Total Premiums Paid* till the date of death, where 22nd year `5,00,000 `5,00,000 X% is defined as per the table given below 23rd year `5,00,000 `5,00,000 24 year th `5,00,000 `5,00,000 Year X% Year X% 25th year `5,00,000 `13,60,000 `18,60,000 1 105.0% 11 130.0% Total Maturity Benefit `38,60,000 2 107.5% 12 132.5% 3 110.0% 13 135.0% Savings Booster of `13,60,000 4 112.5% 14 137.5% 5 115.0% 15 140.0% Guaranteed Income of `5,00,000 p.a. for 5 Years 6 117.5% 16 142.5% `1,22,090 p.a. for 12 years 7 120.0% 17 145.0% 8 122.5% 18 147.5% 0 20 21 22 23 24 25 9 125.0% 19 150.0% 10 127.5% 20 152.5% Scenario II: In case of unfortunate demise of Deepak at the end of 12th year, his beneficiary shall receive the Sum Assured on Year in the table above refers to the year in which death occurs. death plus Accrued Annual Guaranteed Additions till the date II. Enhanced Life Option: In the unfortunate event of the death of death i.e. `19,41,231 plus `1,60,000. Hence the total of the Life Insured during the Policy Term while the policy is in- death benefit shall be `21,01,231 and the policy shall force on the date of death, the beneficiary shall receive terminate thereafter. a. Immediate Benefit: A lump sum amount equal to Base Please refer to “Benefits in Detail” section for more information. Sum Assured b. Immediate Benefit: Accrued Annual Guaranteed Benefits in Detail Additions till the date of death Annual Guaranteed Additions c. Monthly Payout: 2% of the Base Sum Assured, starting Provided the Policy is in-force for full risk benefits, Annual from the month of death for rest of the policy term subject Guaranteed Additions (AGA) shall accrue to the Policy at the to a minimum of 36 monthly payouts even if these fall end of each completed Policy Year during the last 10 years outside Policy Term of the Policy Term. The rates of addition are given below for d. Benefit at Maturity Date: A lump sum amount equivalent each option of Policy Term. The AGAs per 1,000 of Base Sum to the Base Sum Assured multiplied by Guaranteed Assured are as follows: Maturity Multiple (GMM) factor. Policy Policy Policy Policy The Guaranteed Maturity Multiple for different policy terms Year Term Year Term Year Term Year Term shall be as below: 10 yrs 12 yrs 15 yrs 20 yrs 1st & 2nd 5 3rd & 4th 10 6th & 7th 40 11th & 12th 80 Policy Term 10 12 15 20 3 &4 rd th 7.5 5 &6 th th 20 8 &9 th th 50 13th & 14th 90 GMM factor 150% 150% 200% 250% 5th & 6th 15 7th & 8th 30 10th & 11th 60 15th & 16th 100 7th & 8th 25 9th & 10th 40 12th & 13th 70 17th & 18th 110 The total benefits payable on death as mentioned above will be 9 & 10 th th 25 11 & 12 th th 50 14 & 15 th th 80 19 & 20 th th 120 at least equal to Sum Assured on Death plus Accrued Annual Guaranteed Additions. The Sum Assured on Death shall be highest of: Death Benefit 11 times the Annualized Premium# The Death Benefit in this plan secures your family’s well-being and future. It would variate basis the plan option you choose: 105% of the total premiums paid* till the date of death I. Life Option: In the unfortunate event of death of the Life Sum of (a), (c) and (d) as defined above in case of Insured during the Policy Term while the policy is in-force on Enhanced Life Option the date of death, the beneficiary shall receive # Annualized Premium shall be the Premium payable in a Policy Year, excluding any, rider premiums, premium towards underwriting extra, loadings for modal premium and taxes, if any 4 *Total premiums paid means total of all the premiums received, excluding any underwriting extra, any rider premium and taxes. The Policy covers death under all situations (including death during declared or undeclared war, civil commotion, invasion, terrorism, hostilities) except death due to suicide as specified in the Suicide Exclusion. Maturity Benefit On Survival of the Life Insured till the end of the policy term and provided all due premiums have been paid, you shall receive the Maturity Benefit as sum of Guaranteed Income Benefit, in arrears as per the frequency chosen (annual or monthly), during the payout period of 5 years from the maturity date and Savings Booster payable at the end of the Payout Period. Where Savings Booster is equal to accrued AGAs, as at the end of policy term, multiplied with a Savings Booster Multiple (SBM). For a policyholder continuing till end of the payout period SBM shall be 136%. Refer to the below details on the Payout Period, Guaranteed Income and Savings Booster applicable for different policy terms Policy Term 10 12 15 20 Pay-out Period 11th year to 15th year in arrears 13th year to 17th year in arrears 16th year to 20th year in arrears 21st to 25th year in arrears Annual Payout is equal to GMM Annual Payout is equal to GMM Annual Payout is equal to GMM Annual Payout is equal to GMM Guaranteed Income Benefit factor divided by 5 and multiplied factor divided by 5 and multiplied factor divided by 5 and multiplied factor divided by 5 and multiplied is payable as per the by the Base Sum Assured i.e. by the Base Sum Assured i.e. by the Base Sum Assured i.e. by the Base Sum Assured i.e. chosen frequency during 30% of Base Sum Assured 30% of Base Sum Assured 40% of Base Sum Assured 50% of Base Sum Assured the payout period of Monthly Payout is equal to Monthly Payout is equal to Monthly Payout is equal to Monthly Payout is equal to 5 years Annual Payouts divided by 12 Annual Payouts divided by 12 Annual Payouts divided by 12 Annual Payouts divided by 12 multiplied by a factor of 98% multiplied by a factor of 98% multiplied by a factor of 98% multiplied by a factor of 98% Savings Booster at the end 136% of the Accrued Annual 136% of the Accrued Annual 136% of the Accrued Annual 136% of the Accrued Annual of payout period Guaranteed Additions Guaranteed Additions Guaranteed Additions Guaranteed Additions The beneficiary shall continue to receive the outstanding guaranteed income benefits & savings booster even after the death of the life insured during the payout period, as per the scheduled dates. Option to receive benefits in Lump sum Other Features a. Beneficiary shall have an option to receive maturity benefit Flexible Premium Payment Modes i.e. guaranteed income along with savings booster as a You have an option to pay premiums Annually, Semi-annually or lump sum amount by making a written request anytime Monthly. Monthly mode is allowed only if the premiums are paid during the policy term to the Company at least 6 months electronically, like Credit Card, Direct Debit and ECS/NACH. before Maturity Date. The maturity lump sum amount will Loading on premium will be applicable as per the table be equal to accrued AGAs at the end of policy term plus given below GMM factor (multiplied by) base sum assured (multiplied Premium Modes Annual Semi-annual Monthly by) applicable lump sum factor. 1 0.51 0.086 b. During the maturity payout period also the beneficiary Factors shall have an option to take remaining maturity benefit as lump sum amount. The lump sum amount will be equal to Grace Period accrued AGAs as at the end of the policy term multiplied If you are unable to pay your premium by the due date, you will by applicable SBM plus [GMM factor (multiplied by) base be given a grace period of 30 days for all modes. During the sum assured (multiplied by) 98% for monthly payout grace period the Policy shall continue to remain in-force along frequency (minus) guaranteed income(s) already paid], with all benefits under this policy and claim, if any, shall be (multiplied by) applicable lump sum factor. payable subject to deduction of the unpaid due premium till Once exercised, this option cannot be reversed. The claim date of death. payment obligation of the company will end on the payment of lump sum and no further benefits will be paid. Applicable Premium Discontinuance Lump sum factor and SBM are determined basis outstanding The Policy shall acquire a Surrender Value after payment of duration (in completed months) of the 5 year payout period, and Premium for at least first two consecutive policy years in full. are provided under Term and Conditions in the later part of this document. If you discontinue the payment of premiums before your Policy has acquired a Surrender Value, your Policy will lapse at the end of the grace period, the Death Benefit will cease immediately and no benefits will be paid when the Policy is in lapsed status. 5  If the Policy has acquired a Surrender Value and no future Surrender premiums are paid, you may choose to continue your Policy on It is advisable to pay premiums for the entire premium payment Reduced Paid-up basis. term to enjoy maximum benefits under the policy. If your Policy On your Policy becoming Reduced Paid-up, benefits under the acquired a Surrender Value, on payment of at least first two full plan will be reduced as given below: years’ premium and you choose to discontinue your policy, you will be entitled to receive Surrender Value which will be higher Benefit Payout of the Guaranteed Surrender Value (GSV) or Special Surrender Paid-up Factor (multiplied by) Sum Assured on Death^ Value (SSV) of the Policy. Please refer to our website or policy On Death plus Annual Guaranteed Additions accrued till the date of last unpaid premium document for details. a) Paid-up Factor (multiplied by) Guaranteed Income payable during the payout period; plus Loan b) Savings Booster, payable at the end of the payout period. For Reduced paid up policies, savings booster You may take a loan against your Policy once it has acquired a is defined as accrued AGAs, as at the end of last Surrender Value. The maximum loan that can be availed is 75% unpaid premium, (multiplied by) applicable SBM of the Surrender Value. The rate of interest shall be reset on an In case the beneficiary opts to take the maturity annual basis at the beginning of every financial year. The rate of benefit as one time lump sum amount at the time of interest applicable on the loan will be declared by the Company On Maturity maturity (or payout period) then the maturity benefit for a reduced paid up policy would be as follows: on an annual basis at the beginning of every financial year. The loan rate of interest is based on yield on 10-years GSEC 1. Sum of remaining guaranteed income as defined YTM plus 150 bps rounded down to 25 bps. The average of in “(a)” above (multiplied by) applicable lump sum factor; plus the benchmark would be taken from the previous financial year for the period 1st July to 31st Dec. The source of information 2. Savings Booster, payable along with the lump sum. For such reduced paid up policies, savings booster is for 10 year GSec rate would be “CCIL”. The current applicable defined as accrued AGAs, as at the end of last unpaid rate of interest for FY 2023-24 is 8.75% p.a. compounding premium, (multiplied by) applicable SBM. monthly. Any outstanding loan amount together with any unpaid Paid-up Factor = Number of premiums paid/Number of premiums payable interest thereon shall be adjusted against any Policy Benefit ^Sum Assured on Death shall be applicable as per variant option chosen as which become payable during the policy term. For other than defined above in-force and fully paid up policies: In case outstanding loan Revival amount including interest exceeds the surrender value, the policy will get foreclosed after giving intimation and reasonable You can revive your lapsed/Paid-up policy for its full coverage opportunity to the policyholder to continue the policy. within five years from the due date of the first unpaid premium but before policy maturity, by paying all outstanding premiums Policies in-force for full benefits or fully paid policies would together with the interest, as applicable. The interest for revival not be foreclosed on the account of outstanding loan amount of the policy will be charged at market related rates set by (including outstanding interest on loan, if any) exceeding the the Company from time to time. The rate of interest shall be surrender value. reset on an annual basis at the beginning of every financial year (April) and would be determined based on the average of Terms and Conditions 10-year G-Sec YTM plus 75 bps rounded down to 25 bps. The Free look cancellation average of the benchmark would be taken from the previous financial year for the period 1st July to 31st Dec. The source of You will have a period of 15 days (30 days in case the information for 10 year GSec rate would be “CCIL”. The current Policy is sold through Distance Marketing* i.e. any means of applicable rate of interest on policy reinstatement is 8.00% communication other than in person) from the date of receipt p.a. compounding monthly which would be applicable for the of the Policy Document to review the terms and conditions of FY 2023-24. Revival of the policy is subject to Board approved the Policy and where you disagree to any of these terms and underwriting policy, i.e. the Life Insured may have to undergo conditions, you have an option to return the Policy stating the medical tests, financial underwriting etc. Upon revival of the reasons for objection. On receipt of the letter along with the Policy, the policyholder will become entitled to full Annual Policy bond, the Company will refund the Premiums paid, Guaranteed Additions for the policy year(s) while the policy was subject to the deduction of proportionate risk premium and any in paid up/lapse stage. If a lapsed policy is not revived within expenses incurred by the Company on insurance stamp duty the revival period, the policy will terminate on expiry of the and medical examination. revival period. *Distance Marketing includes every activity of solicitation (including lead generation) and sale of insurance products through the following modes: (i) Voice mode, which includes telephone-calling (ii) Short Messaging Services (SMS) (iii) Electronic mode which includes e-mail, internet and interactive television (DTH) (iv) Physical mode, which includes direct postal mail and newspaper & magazine inserts and (v) Solicitation through any means of communication other than in person. 6 Suicide Exclusions Tax Benefits In case of death of the Life Insured due to suicide within Premiums paid under this plan may be eligible for tax 12 months from the date of commencement of risk under the exemptions, subject to the applicable tax laws and conditions. policy or from the date of revival of the policy, as applicable, Income tax benefits under this plan, if any, shall be applicable the Company shall pay to the nominee or beneficiary 80% of as per the prevailing Income Tax Laws and are subject to the Total premiums paid (excluding underwriting extra, any amendments from time to time. Kindly consult a tax expert. rider premium and taxes, if any) till the date of death, or the surrender value available as on date of death whichever is Goods and Services Tax (GST) higher, provided the policy is in force. GST and other levies, as applicable, will be extra and levied as per prevailing tax laws and are subject to change from time to Alterations time. The plan option, base sum assured, policy term or premium payment term cannot be altered after commencement of the Nomination and Assignment policy. The payout frequency for the guaranteed income benefit Nomination in this policy is allowed as per Section 39 cannot be changed after the end of policy term. of Insurance Act, 1938 as amended from time to time. Assignment in this policy is allowed as per Section 38 of Waiting Period for policies sourced through POSP Insurance Act, 1938 as amended from time to time. For policies sourced through Point of Sales Persons (POSP), a waiting period of 90 days will be applicable from date of acceptance of risk. In the event of death (except accidental death) within waiting period, 100% of total premiums paid shall be payable to the beneficiary. Minor Lives In case the Life Insured is a minor at the date of commencement, the proposer can either be a parent or grandparent or legal guardian of the life insured. In case of minor lives, date of risk commencement for policies will be same as that of date of commencement of policy. The ownership of such policies will vest automatically in name of Life Insured once he/she attains majority. 7  Lump Sum Factors and Savings Booster Multiple (SBM): Outstanding Duration Lump Sum Factor SBM Outstanding Duration Lump Sum Factor SBM Payout Period Payout Period 60 83.56% 100.0% 29 91.82% 117.1% 59 83.99% 100.5% 28 92.29% 117.7% 58 84.42% 101.0% 27 92.76% 118.3% 57 84.85% 101.5% 26 93.24% 118.9% 56 85.28% 102.1% 25 93.71% 119.5% 55 85.72% 102.6% 24 91.29% 120.0% 54 86.16% 103.1% 23 91.75% 120.7% 53 86.60% 103.6% 22 92.22% 121.3% 52 87.04% 104.2% 21 92.69% 122.0% 51 87.48% 104.7% 20 93.16% 122.6% 50 87.93% 105.2% 19 93.64% 123.2% 49 88.38% 105.8% 18 94.12% 123.8% 48 86.04% 106.0% 17 94.60% 124.5% 47 86.47% 106.8% 16 95.08% 125.1% 46 86.92% 107.4% 15 95.57% 125.7% 45 87.36% 107.9% 14 96.05% 126.4% 44 87.81% 108.5% 13 96.54% 127.0% 43 88.25% 109.0% 12 94.07% 128.0% 42 88.70% 109.6% 11 94.55% 128.3% 41 89.16% 110.2% 10 95.04% 129.0% 40 89.61% 110.7% 9 95.52% 129.6% 39 90.07% 111.3% 8 96.01% 130.3% 38 90.53% 111.9% 7 96.50% 131.0% 37 90.99% 112.4% 6 96.99% 131.6% 36 88.61% 113.0% 5 97.49% 132.3% 35 89.06% 113.6% 4 97.98% 133.0% 34 89.52% 114.2% 3 98.48% 133.7% 33 89.97% 114.7% 2 98.99% 134.4% 32 90.43% 115.3% 1 99.49% 135.0% 31 90.89% 115.9% 0 100.00% 136.0% 30 91.36% 116.5% Note: Lumsum factor and SBM are determined basis outstanding duration (in complete months) of the 5 year payout period. For example policies opting to take maturity benefit as lump sum on maturity date itself, the outstanding duration would be 60 months. Section 41 of the Insurance Act 1938: Prohibition of rebate No person shall allow or offer to allow, either directly or indirectly, as an inducement to any person to take out or renew or continue an insurance in respect of any kind of risk relating to lives or property in India, any rebate of the whole or part of the commission payable or any rebate of the premium shown on the policy, nor shall any person taking out or renewing or continuing a policy accept any rebate, except such rebate as may be allowed in accordance with the published prospectuses or tables of the insurer. Section 45 of the Insurance Act 1938, as amended from time to time Fraud and mis-statement would be dealt with in accordance with provisions of Section 45 of the Insurance Act, 1938, as amended from time to time. For provisions of this Section, please contact the insurance Company or refer to the sample policy contract of this product on our website www.pramericalife.in The brochure gives the salient features for the product. Please refer to policy document for further details of the terms and conditions. 8 About Pramerica Life Insurance Limited (PLIL) Pramerica Life Insurance Limited is a joint venture between DHFL Investments Limited (DIL), a wholly-owned subsidiary of Piramal Capital and Housing Finance Limited (“PCHFL”)* and Prudential International Insurance Holdings, Ltd. (PIIH), a fully owned subsidiary of Prudential Financial, Inc. (PFI). Pramerica Life Insurance Limited represents the coming together of two renowned financial services organizations with a legacy of business excellence spread over decades. Pramerica Life Insurance Limited, started operations in India on September 01, 2008 and has a pan India presence through multiple distribution channels which have been customized to address the specific insurance needs of diverse customer segments. The Company is committed to providing protection and quality financial advice to its customers. Pramerica is the brand name used in India and select countries by Prudential Financial, Inc. Prudential International Insurance Holdings, Ltd. and Prudential Financial, Inc. of the United States are not affiliated with Prudential Plc. a Company incorporated in the United Kingdom. For further information on the Company, please visit www.pramericalife.in *As part of the implementation in compliance of the NCLT order dated June 7, 2021, PCHFL has been merged into and with Dewan Housing Finance Corporation Limited (“DHFL”) by way of an amalgamation by a scheme of arrangement, and in accordance with approved scheme of arrangement, the name of the merged entity has been changed from Dewan Housing Finance Corporation Limited to “Piramal Capital & Housing Finance Limited” vide the certificate of incorporation issued by the Registrar of Companies, Mumbai dated 3rd November, 2021. About Piramal Capital & Housing Finance Limited Piramal Capital & Housing Finance Limited (PCHFL), a wholly owned subsidiary of Piramal Enterprises Limited (flagship company of the Piramal Group), is a housing finance company engaged in retail and wholesale lending. In retail lending, PCHFL is one of the leading players that addresses the diverse financing needs of the under-served and unserved people of ‘Bharat’ market. It has over 1 million customers and presence in 24 states with a network of over 300 branches. It offers multiple products, including home loans, small business loans to Indian budget conscious customers at the periphery of metros and in Tier I, II and III cities. In wholesale lending, it caters to both real estate as well as non-real estate sector and offers multiple products including construction finance, structured debt and senior secured debt. The Piramal Group also has strategic partnerships with leading global funds such as CDPQ, CPPIB, APG, Ivanhoe Cambridge and Bain Capital. About PFI PFI*, a financial services leader with $1.7 trillion of assets under management as of September,2021 has operations in the United States, Asia, Europe and Latin America. Prudential’s diverse and talented employees are committed to helping individual and institutional customers grow and protect their wealth through a variety of products and services, including life insurance, annuities, retirement-related services, mutual funds and investment management. Prudential International Insurance Holdings & Prudential Financial Inc. of the United States are not affiliated with Prudential Plc, a Company incorporated in the United Kingdom. In the U.S., PFI’s iconic Rock symbol has stood for strength, stability, expertise and innovation for more than a century. For more information, please visit www.prudential.com/about Pramerica Life and the Rock Logo are proprietary service marks and may not be used without the permission of the owner. 9  TAKE THE DECISION TO PROTECT YOUR FAMILY’S FUTURE TODAY. CALL AT SMS ‘LIFE’ TO EMAIL 1860 500 7070 5607070 [email protected] (Local charges apply) This product provides Life Insurance coverage. Pramerica Life Rakshak Smart UIN: 140N075V02. Goods & Services Tax will be charged over and above the quoted premium. Tax Benefits may be available as per the applicable laws as amended from time to time. This plan offers guaranteed benefits provided the policy is in force and all due premiums are paid in full. IRDAI Registration No. 140. Pramerica Life Insurance Limited. Registered Office and Communication Address: 4th Floor, Building No. 9, Tower B, Cyber City, DLF City Phase III, Gurgaon-122002. CIN: U66000HR2007PLC052028. Customer Service Helpline Tel. No: 1860 500 7070 (Local charges apply) Timings: 9:30 a.m. to 6:30 p.m. (Monday-Saturday), Website: www.pramericalife.in. The Pramerica mark displayed belongs to ‘The Prudential Insurance Company of America’ and is used by Pramerica Life Insurance Limited under license. RS/B-ENG/23/MAY/V3 BEWARE OF SPURIOUS / FRAUD PHONE CALLS: IRDAI is not involved in activities like selling insurance policies, announcing bonus or investment of premiums. Public receiving such phone calls are requested to lodge a police complaint.