The new products offer Industry-Leading Features including guaranteed additions in the 1st policy year.
Gurugram, 18
December 2024: Pramerica Life Insurance, one of India's fastest-growing life insurance providers, has joined hands with Policybazaar
to accelerate its focus on Unit-Linked Insurance Plans (ULIPs). Building on
ULIPs as a critical driver of its product strategy, the company introduced two
new solutions: Pramerica Life
NextGen Pension Plan and Pramerica Life Smart Invest 1UP. Leveraging Policybazaar’s digital
expertise and extensive customer insights, these products are designed to
empower individuals with retirement planning & wealth-building options,
ensuring financial security in today’s dynamic economic environment.
Policybazaar is renowned for simplifying
insurance solutions and providing seamless digital experiences to customers.
These
ULIPs offer a suite of best-in-class benefits, including:
· Upfront Guaranteed
Additions in the policy
· Zero
premium allocation charges
· Zero
policy administration charges
· Return
of mortality charges (ROMC) upon policy survival
· Unlimited
fund switches at zero charges
|
Pramerica Life NextGen Pension
Plan: A Secure Path to Retirement |
Pramerica Life Smart Invest 1UP: A Comprehensive Wealth-Building
Tool |
|
1. Up to 5% Guaranteed Additions in
the first policy year 2.
Flexibility in premium redirection to optimise returns 3. Tax benefits as
per prevailing tax laws |
1. Up to 10% Guaranteed Additions in
the first policy year, with additional benefits for female lives 2. Two plan options-
Focused on accumulating wealth, income continuity and financial security for
beneficiaries. 3. Tax benefits as
per prevailing tax laws |
Pramerica Life NextGen Pension Plan gives
access to Pramerica Life’s flagship
Nifty Midcap 50 Correlated Pension Fund, which offers an impressive 30.7%
1-Year return. The fund is available through an NFL from 18th December 2024 to 1st January
2025 at an NAV of ₹10.
Mr. Pankaj Gupta, MD & CEO, Pramerica
Life Insurance said, “Our collaboration with Policybazaar
is a significant step in making innovative financial solutions accessible to a
larger audience. These new ULIP offerings reflect our commitment to delivering
customer-centric products with industry-first features that cater to evolving
financial needs, helping individuals secure their future while creating wealth.
The Pramerica Life NextGen Pension Plan, in particular, is designed to help
individuals build a reliable retirement corpus, ensuring financial independence
and peace of mind in their post-retirement years.”
Mr. Sarbvir Singh, CEO, Policybazaar stated
“Retirement planning is more important than ever as India faces shifting
demographics and evolving financial needs. At Policybazaar, our mission is to
empower customers with tailored financial solutions that secure their future.
Partnering with Pramerica Life Insurance to introduce these ULIP pension plans
reflects our commitment to offering comprehensive products that help
individuals achieve long-term financial stability and a worry-free retirement.”
The new
offerings will empower customers to choose insurance products that will help
accelerate their financial goals.
About
Pramerica Life Insurance Limited:
Pramerica Life Insurance Limited is a
joint venture between DIL, a wholly owned subsidiary of Piramal Capital and
Housing Finance Limited 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 PFI. For more details, please visit: www.pramericalife.in
About
Piramal Capital & Housing Finance Limited:
Piramal Capital & Housing Finance
Limited (referred as Piramal Finance), 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,
Piramal Finance 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 a network of branches across 318 cities/towns
in 27 states. It offers multiple products, including home loans, loan against
property, used car 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. For more information visit: piramalfinance.com
About
Prudential Financial, Inc.:
Prudential Financial, Inc. (NYSE: PRU), a
global financial services leader and premier active global investment manager
with approximately $1.4 trillion in assets under management as of December 31,
2022, has operations in the United States, Asia, Europe, and Latin America.
Prudential’s diverse and talented employees help make lives better by creating
financial opportunity for more people by expanding access to investing,
insurance, and retirement security. Prudential's iconic Rock symbol has stood
for strength, stability, expertise, and innovation for nearly 150 years. For
more information, please visit: news.prudential.com
About Policybazaar (www.policybazaar.com)
Policybazaar.com is one of India's leading online
insurance platforms. It is the flagship platform of PB Fintech, which owns the
fintech brand, Paisabazaar.com, and the lending & insurance marketplace in
the UAE region, Policybazaar.ae. The Policybazaar.com group has backing from a
host of investors including the likes of PE funds and other family offices.
Policybazaar.com started with the purpose to educate people on insurance
products and with its offerings has addressed the large and highly underpenetrated
online insurance markets.