Pramerica Life Insurance recently launched its newest product, Pramerica Life RockSolid Future. This recently introduced plan is an individual, non-participating, non-linked savings life insurance plan. It provides policyholders with the flexibility to choose between guaranteed regular income or a lump sum payout upon maturity, accompanied by tax benefits.
On the occasion of the launch, Pankaj Gupta, MD & CEO, Pramerica Life Insurance, said, “We all aspire for a better tomorrow, not just for ourselves but for our loved ones too. However, realizing a better life or lifestyle in the future necessitates proactive financial planning today. As a step in that direction, I am excited to unveil the Pramerica Life RockSolid Future, a forward-looking savings life insurance plan with many customer-centric flexible features. The product offering not only provides protection during life’s uncertainties but also assists individuals in attaining their financial life goals.”
The product offers four distinct proposi-tions to choose from:
Income builder option
The strategy is well-suited for retirement preparation or establishing an additional source of income. Additionally, it delivers a steady income after the policy term concludes, along with a lump sum payment accompanying the final income installment.
Family income builder option
This choice offers superior protection compared to the Income Builder Option. It grants an immediate lump sum death benefit and waives future premiums in the event of the unfortunate demise of the life assured. The family receives an income benefit from the following month, in addition to a lump sum amount alongside the last income instalment.
Fortune builder option
The policy grants the entire proceeds in a lump sum at the conclusion of the term, empowering policyholders to pursue the life they have always envisioned.
Dream builder option
This choice offers superior protection compared to the Fortune Builder Option. In the event of the unfortunate demise of the life assured, it provides an immediate lump-sum death benefit and waives future premiums. Upon maturity, it ensures the beneficiaries receive the promised maturity amount.
The distinctiveness of this plan is evident in the array of features it presents, including guaranteed benefits, a choice of four plan options based on individual needs, the flexibility to receive benefits as a lump sum or as income, heightened protection through options like the Family Income Builder Option and Dream Builder Option, and tax benefits in accordance with prevailing income tax laws.
