Pramerica Life Tatkaal Suraksha Gold Plan
Pramerica Life Tatkaal Suraksha Gold Plan is an Endowment Plan. Thus, it is a Traditional Plan without Bonus Facility.
Key Features
There is only 1 additional rider available with this plan
Pramerica Traditional Accidental Death Benefit rider
Benefits
In case of death of the Life Insured within the Policy Tenure, the nominee gets the Sum Assured + accrued Annual Regular additions as Death Benefit.
However, if death occurs in the first policy year, then 50% of the Sum Assured is paid as Death Benefit.
At the end of the Policy Tenure, Sum Assured + Annual Regular Additions are paid as Maturity Benefit and the policy terminates.
Life Insurance premiums paid up to Rs. 1,50,000 are allowed as a deduction from the taxable income each year under section 80C. The Maturity Benefit is also tax free under section 10(10)D subject to fulfilment of all terms and conditions.
How it works
Eligibility
Minimum | Maximum | |
Sum Assured (in Rs.) |
50,000
|
10,00,000
|
Policy Term (in years) | 15 | 20 |
Premium Payment Term (in years) | 10 for PT=15 | 15 for PT=20 |
Entry Age of Policyholder (in years) | 18 | 50 |
Age at maturity (in Rs.) | - | 70 |
Annual Premium (in Rs.) | 5,000 | NA |
Payment modes | Yearly, Half-Yearly, Quarterly and Monthly |
FAQs
If the policy holder stops paying the premium, then all benefits of the policy will cease after the expiry of the grace period from the due date of the first unpaid premium. You can re-instate the policy within 3 years of lapsation by paying up all due premiums with interest.
If the policy holder stops paying the premium after paying for 2 policy years, the policy acquires a Paid Up Value and all benefits would reduce proportionately. Rider Benefits would cease. You can re-instate the policy within 3 years of lapsation by paying up all due premiums with interest.
The policy can be surrendered after 2 policy years.
Minimum Guaranteed Surrender Value= 30% of all premiums paid – 1st years’ premium
Loan facility is available under this policy after completion of 3 policy years subject to 90% of Surrender Value.