Pramerica Life Flexi Cash Plan

Death Benefit

In the event of death of the insured during the term of the policy, Death Sum Assured along with Accrued Reversionary Bonus and Final Bonus is payable to the nominee/legal heir, provided the policy is in force.
 

For age at entry less than 45 years, the Death Sum Assured is higher of 100% of Base Sum Assured or 10 times the Annualized Premium. For age at entry 45 years and more, the Death Sum Assured is higher of 100% of Base Sum Assured or 7 times the Annualised Premium.
 

The total Death Benefit payable should be at least equal to 105% multiplied by sum of all the premiums paid till the date of death.

Maturity Benefit

On survival of the life Insured till the end of the policy term, the Maturity Benefit equal to 100% of Base Sum Assured as opted plus Accrued Reversionary Bonus plus Final Bonus is payable, provided the policy is in force.
 

Prepone Maturity Benefit
 

There is an option to prepone the maturity benefit during the flexi benefit period, as per your needs at different stages of your life. During this period, you can avail full benefits which is equivalent to 100% of Sum Assured plus Accrued Reversionary Bonus plus Final Bonus.
 

Flexi Benefit Period is between 10 and 15 Years/15 and 25 years/20 and 35 years for the policy term of 15/25/35 years, respectively.

Guaranteed Loyalty Benefit

Guaranteed Loyalty Benefit is payable during the Premium Payment Term. The benefit equal to 10% of Annualized Premium is payable annually at the start of the policy year from the beginning of 2nd policy year.

Bonus

Compounded Reversionary Bonus is a percentage of the total of Base Sum Assured and the bonuses declared during first three policy years is vested only after the policy is in force during three Policy years. It does not apply to policies resulting in death claims during this period. Final Bonus is payable on maturity, surrender or death.
 

These bonuses are non-guaranteed and are dependent on the performance of the participating fund.

Loan Benefit

Under this plan, Loan is available up to 80% of the Surrender Value.

Surrender Value

Surrender Value is higher of Special Surrender Value or Guaranteed Surrender Value. Surrender Value is acquired on payment of all the due premiums for at least two consecutive policy years.

Tax Benefit

You are eligible to avail tax benefits under section 80C and 10 (10D) of the Income Tax Act, subject to change in tax laws.

No riders can be attached to this plan.

Raman at 35 years, wants to buy Pramerica Life Flexi Cash Plan to meet tomorrow’s financial requirements along with the life cover. He opts the plan with the policy term of 15 years and premium pay term of 5 years, annual premium of Rs 40,506 and the base sum assured of Rs 1.7 Lacs. Guaranteed Loyalty Benefit equal to 10% of the Annualised Premium is payable at the start of year from 2nd policy year onwards during the Premium Payment Term.

Scenario A: Raman Survives the Policy Term

If Mr. Raman survives till the maturity of the policy term, he receives Rs 1.7 Lacs plus Accrued Reversionary Bonus plus Final Bonus. This maturity amount helps meet financial obligations.
 

Scenario B: Raman dies during the Term of the Policy

In the event of demise of Mr. Raman during any policy year, the nominee will receive Rs 1.7 Lacs along with Accrued Reversionary Bonus and Final Bonus. This payout provides financial cover for the family.