New Delhi, 11th September 2023: Pramerica Life Insurance, one of the leading provider of life insurance solutions, has announced the introduction of its latest offering, ‘Pramerica Life Super Investment Plan (UIN: 140L088V01)’. The newly launched plan is one of the most flexible Unit Linked Insurance Plans (ULIPs) in India, meticulously designed to align with the dynamic lifestyle and financial ambitions of today’s generation.
On the occasion of the launch Mr. Pankaj Gupta, MD & CEO of Pramerica Life Insurance, said, “Modern India is aspirational and is looking out for new age life insurance products that support changing lifestyles and aspirations. Pramerica Life Super Investment Plan is designed to cater to modern financial aspirations while providing a safety net to customers and their families through life insurance cover. This is one of the most flexible ULIPs in India and also comes with 6 high potential investment funds including Pramerica Nifty Midcap 50 Correlation Fund.”
Unlike traditional insurance plans, the uniqueness of this plan lies in the bouquet of features it offers.
- To suit varied needs the plan comes with an option to choose from two investment strategies and 6 high potential funds including the Industry-first Pramerica Nifty Midcap 50 Correlation Fund.
- It offers zero premium allocation charge in all years which allows policyholders to grow their wealth faster.
- To further enhance the fund value, the plan offers Persistency Additions and Persistency Booster at specific intervals during the policy term.
- With flexibility of unlimited switches and premium re-directions between fund options, this plan helps to take advantage of market movement or change the risk preference at no additional cost.
- It also offers Return of Mortality and Waiver of Premium Charges on survival of the Life Insured till the end of the Policy Term.
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.
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.
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.
