Pramerica Life Child Plans

What are child plans?

Child plans are financial products specifically designed to secure a child's future. They provide financial protection and investment benefits tailored to the child's welfare. These plans come in traditional or unit-linked forms, offering long-term premiums and bonuses for traditional plans, while unit-linked plans invest premiums in the market for potential growth. Child plans often include a Premium Waiver Rider, ensuring that if the parent dies, the child still receives promised benefits, with the insurance company paying future premiums. This ensures the child's financial security and meets their future needs.

Pramerica Life Child Plans

The best Pramerica Life Child Plan for you will depend on your individual needs and budget. Here are some of the Pramerica Life Child Plans:

Pramerica Life Rakshak Smart

Pramerica Life Rakshak Smart is a non-linked, non-participating individual life insurance savings plan designed to offer both protection and savings elements to fulfil your family's financial needs.

Here are the key features and benefits of the plan:

• Two plan options: Choose between

  • Life Option for supplementing savings and meeting financial responsibilities

  • Enhanced Life Option for comprehensive protection covering immediate, recurring, and future needs.

• Flexible policy term and premium payment term: Tailor the plan to your budget and goals by choosing the duration of coverage and premium payment period.

• Guaranteed benefits: Receive guaranteed payouts upon death or policy maturity, ensuring financial stability for your loved ones.

• Maturity benefit: Upon policy maturity, receive a guaranteed income stream for 5 years along with a lump sum "Savings Booster" amount.

• Death benefit: In case of your unfortunate demise, your family receives a lump sum amount to help them cope financially.

• Tax benefits: Enjoy potential tax benefits on premiums paid and received benefits as per prevailing income tax laws.

Plan at Glance

Investment

Secure

Secure your child’s future with or without you

Start Investing

₹10,000/Month

& Get

₹1 Crore^*

VIEW PLANS

*Standard T & C Apply

Pramerica Life Raksha Gold

Pramerica Life Raksha Gold is a child protection plan designed to financially safeguard your child's future, even in your absence. It offers comprehensive benefits in case of the life insured's unfortunate demise and guaranteed returns upon maturity.

Here are the key features and benefits of the plan:

• Comprehensive/Enhanced Death Benefit:

  • Immediate Lump Sum: Upon the life insured's death, your nominee(s) will receive a lump sum equal to the Base Sum Assured.

  • Recurring Monthly Income: A monthly payout of 2% of the Base Sum Assured will be provided starting from the month of death and continuing for the remaining policy term (minimum 36 months, even if it extends beyond the policy term).

  • Final Lump Sum: At the end of the policy term, a final lump sum benefit is payable.

• Guaranteed Maturity Benefit: Upon the life insured surviving the policy term, your nominee(s) will receive a guaranteed lump sum amount calculated as the Base Sum Assured multiplied by the Guaranteed Maturity Multiple (GMM), plus any accrued Annual Guaranteed Additions.

• Financial Security for Your Child: Ensures your child's financial needs are met even in your absence, covering immediate expenses, ongoing living costs, and future milestones like education and marriage.

• Guaranteed Returns: Provides peace of mind with guaranteed benefits at maturity, regardless of market fluctuations.

• Flexibility: Choose the Base Sum Assured and policy term that best suits your needs and budget.

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Plan at Glance

Applying for a Child Plan Through Pramerica Life

1. Online

   The company offers specific plans that are only available online. The customer only needs to log into the company’s website, choose the required plan, choose the coverage and provide the details. The premium will be determined using the filled details. The customer then needs to pay the premium online through credit card, debit card or net banking facilities, and the policy will be issued.

2. Intermediaries

   Plans that are not available online can be purchased from agents, brokers, banks, etc., where the intermediaries help with the application process.

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How to Buy Child Plans Through Policybazaar?

To buy a child plan from PolicyBazaar, follow these steps:

• Visit the PolicyBazaar homepage and navigate to the "Personal" tab.

• Click on "Child Plans" from the dropdown menu.

• Fill out the lead form by providing your name and mobile number.

• After filling out the lead form, click on the "View Plans" button.

• Provide details such as your city, income, your age, and your child's age on the next page then click "Continue."

• You will be directed to the quotes page, where you will find quotes from more than 10 insurers.

• Next, choose the plan type based on the payment schedule – whether it's a one-time payout or a Monthly Payout Plan.

• Select the plan that best suits your needs and click on "Get details". 

Following these steps will guide you through the process of purchasing a child plan from Policybazaar.