UIN: 140N090V02

Pramerica Life Flexi Income Plan

A Non-Linked Non-Participating Individual Savings
Life Insurance Plan

Pramerica Life Flexi Income Plan

Achievement of important milestones such as securing financial future of a loved one or ensuring your
comfortable retirement should not be left to chance. To attain these important objectives, it is essential to
ensure optimum availability of funds at the opportune time. For this, you require a financial strategy that
enables you to save systematically towards your goals. It should ensure assured income payouts that are not
affected by market volatilities and should be robust enough to ensure the realisation of your goals, even in
the event of unforeseen circumstances.
Presenting Pramerica Life Flexi Income Plan, a Non-Linked Non-Participating Individual Savings Life
Insurance Plan, which has been meticulously designed to help you achieve your goals with certainty. This
plan allows you to accumulate your funds in a wallet, offering you the flexibility to access them, at a future
date of your choice, to help realise your milestones.

Key Benefits
Provides two Plan Options: You may choose your Plan Option depending upon your insurance and savings
need. The two options that are available under the plan are – Early Income & Early Income with Policy
Continuation Benefit (PCB). The Early Income with Policy Continuation Benefit will provide enhanced
protection to the Policyholder.
Guaranteed Benefits: This plan offers guaranteed regular income during the Policy Term & lumpsum benefit
at maturity provided the policy is in force and all due premiums are paid in full.
Financial security for your family: Get life insurance cover during the entire Policy Term to secure your loved
ones.
Pay as you like: Wide choice of Premium Payment Term to choose from – 6 | 8 | 10 | 12 years.
Flexibility of Income
• You may choose to receive the Guaranteed Income Benefit (income payout) in Annual, Semi-annual or
Monthly frequency.
• You have the flexibility to choose your Income Start Year at inception.
Tax Benefits: Tax benefits may be applicable on premiums paid and on benefits received, as per prevailing
Income tax laws. Tax laws are subject to change, please consult a tax advisor.
Other Benefits: The plan offers benefits like - Auto Cover Continuance, Express Claim Relief (Quick and
hassle-free claim process), Option to Accrue Guaranteed Income Benefit and Premium Offset.

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Eligibility Criteria
Plan Option Early Income Early Income with PCB

PPT Min Age Max Age PPT Min Age Max Age
Age at Entry 6 45 years 6 40 years
911 days 911 days
8,10,12 55 years 8,10,12 45 years

Maturity Age 25 years to 80 years

Premium Payment
6,8,10 and 12 years
Term (PPT)
Policy Term (PT) 25,30,35 and 40 years
Income Start Year 1,2,3,4 and 5
Mode Annual Semi Annual Monthly
Premium Minimum Instalment Premium `30,000 `15,300 `2,580
Maximum Instalment Premium No limit, as per Board Approved Underwriting Policy

7 or 11 times of Annualized Premium# as chosen at inception by the Policyholder

Sum Assured on
Minimum Sum Assured on Death- `2,10,000
Death
Maximum Sum Assured on Death - as per Board Approved Underwriting Policy
All reference to age are based on age as on the last birthday. Substandard lives may also be covered subject
to Board Approved Underwriting Policy and with any extra Premium, if applicable. Taxes as applicable will
be charged over and above the quoted Premium.
Annualized Premium shall be the premium amount payable in a year excluding taxes, rider premiums, underwriting extra premiums and loadings for
#

modal premiums.
In case the Life Insured is a minor at the date of commencement,
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a. Policy vests in the name of Life Insured on attainment of his/her majority i.e. 18 years
b. The proposer can either be a parent or grandparent or legal guardian of the Life Insured, or any other relation subject to insurable interest
between the proposer and Life Insured. The ownership of such policies will vest automatically in name of Life Insured once he/she attains
majority. The right of Appointee will extinguish on the attainment of majority of Life Insured.

How does the plan work? Plan Option 1: Early Income - This option shall
suit you if you wish to receive regular/secondary/
You can purchase this policy either through any of
retirement Income throughout the Policy Term and a
our intermediary or online from our website in 4
lumpsum at the end of the Policy Term.
simple steps:
Step 1: Choose the Plan Option. Survival Benefit: Guaranteed Income Benefit (Income
Step 2: Choose the Premium you wish to pay and for Payout), expressed as a percentage of Annualized
how long you wish to pay. Premium#, shall be payable in arrears on survival of
the Life Insured from the Income Start Year until
Step 3: Choose the Sum Assured on Death*, Policy
the end of the Policy Term as per the chosen income
Term, Income Start Year and Income Payout
payout frequency provided all due premiums have
frequency.
been paid in full and the Policy is in force.
Step 4: Guaranteed Income Benefit & the Maturity
Benefit shall be determined basis the above Maturity Benefit: On survival of the Life Insured till
selections, your age and gender. the end of the Policy Term i.e. the date of maturity,
*Sum Assured on Death is defined as 7 or 11 times of Annualized
while the policy is in force, you shall receive Sum
Premium as chosen at inception by the policyholder
Assured on Maturity as lumpsum which is equal to
Benefits in detail • Guaranteed Maturity Benefit, plus
This product provides two Plan Options to choose • Accrued Loyalty Boosters
from, these options help you customise the plan
according to your individual needs. Your benefits
will vary depending upon the Plan Option chosen.
Let’s look at the benefits of each of the Plan Options
in detail:
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 Where Guaranteed Maturity Benefit means the benefit amount as a percentage of Total Annualized
Premiums$ payable by the Policyholder during the Policy Term. Loyalty Boosters are defined as 100% of
Guaranteed Maturity Benefit, which shall accrue uniformly at the end of every year, starting from 3rd policy
year till the end of the Premium Payment Term, provided all due premiums have been paid and the policy is
in force.

Upon Payment of Maturity Benefit policy will terminate.

Death Benefit: In the unfortunate event of death of the Life Insured during the Policy Term while the policy
is in-force and all due premiums have been paid as on the date of death, the beneficiary shall receive higher
of:
• Sum Assured on Death* (or)
• 105% of the Total Premiums Paid## till the date of death (or)
• Surrender Value as on date of death

Upon the payment of death benefit, the policy shall terminate and no further benefits shall be payable.
#
Annualized Premium shall be the premium payable in a year chosen by the Policyholder, excluding the taxes, rider premiums, underwriting extra
premiums and loadings for modal premiums, if any.
*
Sum Assured on Death is defined as 7 or 11 times of Annualized Premium as chosen at inception by the policyholder.
Total Premiums Paid means total of all the premiums received, excluding any extra premium, any rider premium and taxes.
$
Total Annualized premiums payable is the sum total of Annualized Premium for the entire premium payment term as per the policy contract.

Case Study:
Karan, a 35-year-old Marketing Manager with a multinational company, is looking for a plan which will help
him manage his family’s growing needs during his earning years. He plans to purchase Pramerica Life Flexi
Income Plan (Early Income plan option) and pays `1,00,000 p.a. for 12 years with an aim to create a
second income source, for an Income Duration of 40 years, at Income start year 1, and 11x of
Sum Assured on Death*.

Scenario I: If Karan survives till the end of the policy term, he shall receive the following benefits:

Total Premium Paid (`) Benefits Payable Amount (`)

`12,00,000 Guaranteed Income Benefit (Annual) `22,500
Total Guaranteed Income Benefit `9,00,000
Guaranteed Maturity Benefit `23,61,480
Loyalty Booster `23,61,480
Total Benefit `56,22,960

Loyalty Booster of `23,61,480

Pay `1,00,000 p.a. for 12 years
Guaranteed Maturity Benefit of `23,61,480

0 40

Guaranteed Income Benefit of `22,500 from 1st policy year in arrears

Income Period

Policy Term

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Scenario II: In case of unfortunate demise of Karan at the end of the 3rd year, beneficiary shall receive the
death benefit `11,00,000 and the policy shall terminate.

Plan Option 2: Early Income with Policy Continuation Benefit: This option provides enhanced protection. If
opted, ensures your survival and maturity benefits continue to be paid, as and when due in case of death of
the Life Insured without any need of paying future remaining premiums.

Survival Benefit: Guaranteed Income Benefit (Income Payout), expressed as a percentage of Annualized
Premium#, shall be payable in arrears on survival of the Life Insured from the Income Start Year until the
end of the Policy Term as per the chosen income payout frequency provided all due premiums have been
paid in full and the Policy is in force.

Maturity Benefit: On survival of the Life Insured till the end of the Policy Term i.e. the date of maturity, while
the policy is in force, shall receive Sum Assured on Maturity as lumpsum benefit which is equal to
• Guaranteed Maturity Benefit, plus
• Accrued Loyalty Boosters

Where Guaranteed Maturity Benefit means the benefit amount as a percentage of Total Annualized
Premiums$ payable during the Policy Term. Loyalty Boosters are defined as 100% of Guaranteed Maturity
Benefit, which shall accrue uniformly at the end of every year, starting from 3rd policy year till the end of
the Premium Payment Term, provided all due premiums have been paid and the policy is in force. Upon
Payment of Maturity Benefit policy will terminate.

Death Benefit: In the unfortunate event of death of the Life Insured during the Policy Term while the policy is
in force as on the date of death, the nominee/beneficiary shall receive higher of:
• Sum Assured on Death* (or)
• 105% of the Total Premiums Paid## till the date of death
Additionally, the nominee/beneficiary shall continue to receive Guaranteed Income Benefit (Income Payout)
as and when due, without any need of paying the future premiums.

At the end of the Policy Term, the nominee shall receive Sum Assured on Maturity which is equal to
Guaranteed Maturity Benefit Plus Accrued Loyalty Boosters, upon which the policy shall terminate and no
further benefits shall be payable.
*
Sum Assured on Death is defined as 7 or 11 times of Annualized Premium as chosen at inception by the policyholder.
#
Annualized Premium shall be the premium amount payable in a year excluding taxes, rider premiums, underwriting extra premiums and loadings for
modal premiums.
##
Total Premiums Paid means total of all the premiums received, excluding any extra premium, any rider premium and taxes.
$
Total Annualized premiums payable is the sum total of Annualized Premium for the entire premium payment term as per the policy contract.

Case Study:
Manoj, a 30-year-old software engineer with a multinational company, is looking for a plan which will help
him manage his family’s growing needs during his earning years and at the same time provides a safety net
for his family. He plans to purchase Pramerica Life Flexi Income Plan (Early Income plan option with Policy
Continuation Benefit) and pays `1,50,000 p.a. for 10 years with an aim to create a second income source
immediately, for an Income Duration of 40 years, for Income start year 1 year, and 11x Sum Assured on
Death*.

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 Scenario I: If Manoj survives till the end of the policy term, he shall receive the following benefits:

Total Premium Paid (`) Benefits Payable Amount (`)

`15,00,000 Guaranteed Income Benefit (Annual) `33,750
Total Guaranteed Income Benefit `13,50,000
Guaranteed Maturity Benefit `22,95,450
Loyalty Booster `22,95,450
Total Benefit `59,40,900

Loyalty Booster of `22,95,450

Pay `1,50,000 p.a. for 10 years
Guaranteed Maturity Benefit of `22,95,450

0 40

Guaranteed Income Benefit of `33,750 from 1st policy year in arrears

Income Period

Policy Term

Scenario II: In case of unfortunate demise of Manoj at the end of the 3rd year, beneficiary shall receive the
following Death Benefit:
(A) Sum Assured on (B) Total (C) Guaranteed (D) Accrued Loyalty Total Death Benefit
Death shall be paid Guaranteed Income Maturity Benefit Booster shall be (A+B+C+D)
immediately on the Benefit paid on maturity
intimation of death date
`16,50,000 `12,82,500 `22,95,450 `22,95,450 `75,23,400
In the event of death future premiums are waived off and the above benefits are paid as and when due.

Other Features
Higher Guaranteed Income Benefit:
Guaranteed Income Benefit as a percentage of Annualized Premium# shall vary by age, PPT, PT, Income
Start Year and Premium Band. The table below indicates the different premium bands and the incremental
Guaranteed Income applicable
Premium Band Band 1 Band 2 Band 3 Band 4 Band 5
Less than `75,000- `1,50,000- `3,00,000- `5,00,000 &
Annualized Premium
`75,000 `1,49,999 `2,99,999 `4,99,999 above
Incremental Income 0% 1% 1.5% 2.5% 3%
Annualized Premium shall be the premium payable in a year chosen by the Policyholder, excluding the taxes, rider premiums, underwriting extra
premiums and loadings for modal premiums, if any

Additionally, if the Sum Assured on Death is 7 times the Annualized Premium#, the Guaranteed Income
Benefit shall further be increased by Income Booster. The Income Booster applicable shall be as below
Age at Entry (in years) PPT: 6 years PPT: 8 years PPT: 10 years PPT: 12 years
Up to 35 1.25% 1.00% 0.75% 0.75%
36 to 40 2.00% 1.50% 1.00% 1.00%
41 to 45 3.00% 2.50% 1.50% 1.50%
46 & above NA 3.00% 1.75% 1.75%

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For Example Option to Accrue Guaranteed Income Benefit
For age 35 Yrs, PPT 10, Policy Term 30 years and You have an option to accumulate the Guaranteed
income start year 1, the annual Guaranteed Income Income Benefit (Income Payout), instead of
Benefit is 20% taking the same as a periodic payment during the
• If the Life Insured is male who chooses to pay policy term. You may choose to opt this feature by
Annualized Premium from Premium Band 2 and submitting a request to the company at any time
Sum Assured on Death to be 11 times Annualized during the policy term. This feature can be opted-in
Premium, then his annual Guaranteed Income or opted-out at any time during the policy term.
Benefit (Income Payout) shall be 21% (i.e. 20% + The income Payout shall accrue daily at prevailing
1% incremental income). interest which shall be equal to higher of (Repo rate
• If the Life Insured is male who chooses to pay less 2.0% and 0.5 times Repo rate). The Repo rate
Annualized Premium from Premium Band 2 and shall be as published by the RBI and information
Sum Assured on Death to be 7 times Annualized regarding it shall be published on the Company’s
Premium, then his annual Guaranteed Income website. This rate will be reviewed every six months
Benefit (Income Payout) shall be 21.75% (i.e. (on 1st April and 1st October every year). The current
20% + 1% incremental income + 0.75% Income applicable accrual rate till 31st March 2025 is 4.5%
Booster). compounding annually. The Company may in future
change the reference rate from Repo Rate to some
If the Life Insured is female, then the annual
other index, subject to prior approval from IRDAI.
Guaranteed Income Benefit (Income Payout) shall
be enhanced by 2%. At any time, you have an option to withdraw,
completely or partially, from the accrued income
• If the Life Insured is female who chooses to pay
payout. The balance amount will keep accumulating
Annualized Premium from Premium Band 2 and
and shall be payable to you on termination of the
Sum Assured on Death to be 11 times Annualized
policy on death or maturity or surrender.
Premium, then her annual Guaranteed Income
Benefit (Income Payout) shall be 21.42% (i.e. Auto Cover Continuance
{20% + 1% incremental income} * 1.02).
In case the Premium for at least first two Policy
• If the Life Insured is female who chooses to pay Years have been paid in full and any subsequent
Annualized Premium from Premium Band 2 and Premium installment is not paid, the risk cover for
Sum Assured on Death to be 7 times Annualized full Death Benefit shall continue for a period of one
Premium, then her annual Guaranteed Income successive year (Auto Cover Continuation Period)
Benefit (Income Payout) shall be 22.185% (i.e. from the due date of first unpaid Premium even
{20% + 1% incremental income + 0.75% Income though the policy is in Paid-Up status.
Booster} * 1.02).
If the Life Insured dies during this period, the
Premium Offset Company will pay Death Benefit as applicable after
deducting the premium due for entire Auto Cover
You shall be able to adjust the premium payable in
Continuation Period, if any, on the date of death.
the policy to the extent of survival benefits payable
by the company, if any. The frequency and timing This is an in-built feature which will be available by
of benefit payment must match that of premium default to all policies.
payment under this option. If the benefit payout
Express Claim Relief (ECR)
exceeds the premium payable under the policy, the
company shall pay such excess to the Policyholder. Coping with unfortunate event of death of a loved
However, if the benefit payable is not sufficient to one is one of life’s most stressful events - not
offset the premium payable under the policy, then, only because of the emotional grieving process,
the Policyholder will be required to pay the balance but because of the financial challenges that can
premium to the company. The benefit will be come across as well. Keeping this in mind, we at
deemed as paid when used for ‘Premium Offset’. Pramerica Life have introduced a special feature
called Express Claim Relief.

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 In which on occurrence of death while the Policy is in-force, the Company shall pay 100% of Total
Premiums Paid## till date of death on intimation of death of the Life Insured.
Express Claim Relief is an accelerated cover and the amount paid for this benefit will be deducted from
the Death Benefit payable under the Policy. It can be established basis the Death Certificate issued by
competent authority and the rights of claimant established basis applicable documents as may be required
by the Company from time to time. Post payment of Express Claim Relief remaining Death Benefit shall be
payable, with regular Claim Settlement Process.
Express Claim Relief does not constitute to full claim settlement. Claim settlement would be done as per
original Terms and Conditions of the policy mentioned in the Policy Document.

Auto Debit Booster

For all premiums paid through Auto Debit mode (ECS, direct debit etc.), an amount as defined below, will be
paid on survival of Life Insured till the end of the following period. This booster shall be payable only to the
inforce policies where all due premiums have been paid.
• 1% of Total Premiums paid## from 2nd year till 5th year through auto debit on survival of the Life Insured till
the end of the
5th year.
• 1% of Total Premiums paid## from 6th year till the end of the Premium Payment Term, through Auto Debit
on survival of the Life Insured till the end of the Premium Payment Term.
“Auto Debit” means an automatic payment method whereby we are allowed to auto debit Premiums directly
from bank account or credit/debit card.

Premium Rebates/Discounts:
The company will offer a discount of 10% on the first year premium to the existing customers, employee of
the company / promoters of the company and for policies sourced through Direct Online Channels.

Flexible Premium Payment Modes

You have an option to pay premiums Annually, Semi-annually or Monthly. Monthly mode is allowed only if
the premiums are paid electronically, such as through Credit Card, Direct Debit and ECS/NACH.
Premium Modes Annual Semi-Annual Monthly
Factor 1 0.51 0.086

Grace Period
If you are unable to pay your premium by the due date, you will be given a grace period of 15 days for
monthly mode and 30 days for all other premium payment modes. During the grace period the Policy shall
continue to remain in force along with all the benefits under this policy and claim, if any, shall be payable
subject to deduction of the unpaid due premium till the date of death.

Premium Discontinuance
The Policy will acquire Surrender Value after paying premium for the first complete policy year & will
become payable after completion of first policy year.
If you discontinue the payment of premiums before your Policy has acquired a Surrender Value, your Policy
will lapse at the end of the grace period, the Death Benefit will cease immediately and no benefits will be
paid when the Policy is in lapsed status.
If the Policy has acquired a Surrender Value and no future premiums are paid, you may choose to continue
your Policy on Reduced Paid-up basis.

8
On your Policy becoming Reduced Paid-up, benefits under the plan will be reduced as given below:
Benefit Payout
On Death (Applicable to Both Plan Options) Higher of (Sum Assured on Death * Paid Up factor;
payable on the death of the Life Insured during the
Policy Term (or) 105% of Total Premiums Paid)
On Survival (Applicable to Both Plan Options) Guaranteed Income Benefit (Income Payout) x
Paid Up factor^, which shall be payable as per the
original policy conditions
i.e. from the original Income Start Year and as per
the original income payout frequency, till the end of
the Policy Term, in arrear.
On Maturity (Applicable to Both Plan Options) Guaranteed Maturity Benefit x Paid Up factor^ plus
accrued Loyalty Boosters, if any, which shall be
payable at the end of Policy Term.
The policy will be terminated once the benefit is paid i.e. on death, on surrender or at maturity.
*
Sum Assured on Death is defined as 7 or 11 times of Annualized Premium as chosen at inception by the policyholder.
^
Paid up Factor = Total number of premiums paid / Total of number of premiums payable.

Revival Surrender
You can revive your lapsed/Paid-up policy for its full It is advisable to pay premiums for the entire
coverage within five years from the due date of the Premium Payment Term to enjoy maximum benefits
first unpaid premium but before policy maturity, by under the policy. The policy will acquire Surrender
paying all outstanding premiums together with the value after paying premium for the first complete
interest, as applicable. The interest for revival of the policy year & will become payable after completion
policy will be charged at market related rates set by of first policy year. Thereafter, if you decide not to
the Company from time to time. The rate of interest pay further Premiums, you would have the option
shall be reset on an annual basis at the beginning of to either surrender the Policy or let the Policy
every financial year (April) and would be determined continue with reduced benefits in accordance
based on the average of with the conditions mentioned in the Premium
10-year G-Sec YTM plus 75 basis points rounded Discontinuance section above. If you choose to
down to 25 basis points. The average of the discontinue your policy, you will be entitled to
benchmark would be taken from the previous receive Surrender Value which will be higher of the
financial year for the period 1st July to 31st Dec. The Guaranteed Surrender Value (GSV), if applicable or
source of information for 10 year GSec rate would Special Surrender Value (SSV) of the Policy. Please
be “CCIL”. The current applicable rate of interest refer to our website or Policy Document for details.
on policy reinstatement is 8.00% p.a. compounding
monthly which would be applicable for the FY Loan
2024-25. Revival of the policy is subject to Board
You may take a loan against your Policy once it has
approved underwriting policy, i.e. the Life Insured
acquired a Surrender Value. The maximum loan that
may have to undergo medical tests, financial
can be availed is 75% of the Surrender Value. The
underwriting etc. Upon revival of the Policy, the
rate of interest shall be reset on an annual basis at
Policyholder will become entitled to full benefits for
the beginning of every financial year. The rate of
the policy year(s) while the policy was in paid up/
interest applicable on the loan will be declared by
lapse stage. If a lapsed policy is not revived within
the Company on an annual basis at the beginning
the revival period, the policy will terminate on expiry
of every financial year. The loan rate of interest is
of the revival period.
based on yield on 10-years GSEC YTM plus 150
basis points rounded down to 25 basis points. The
average of the benchmark would be taken from the

9
 previous financial year for the period 1st July to 31st Free look cancellation
Dec. The source of information for 10 year GSec
You will have a period of 30 days from the date of
rate would be “CCIL”. The current applicable rate of
receipt of the Policy Document to review the terms
interest for FY 2024-25 is
and conditions of the Policy and where you disagree
8.75% p.a. Compounding monthly. Any outstanding
to any of these terms and conditions, you have an
loan amount together with any unpaid interest
option to return the Policy stating the reasons for
thereon shall be adjusted against any Policy Benefit
objection. On receipt of the letter along with the
which become payable during the Policy Term. For
Policy bond, the Company will refund the Premiums
other than in force and fully paid up policies: In
paid, subject to the deduction of proportionate
case outstanding loan amount including interest
risk premium and any expenses incurred by the
exceeds the surrender value, the policy will get
Company on insurance stamp duty and medical
foreclosed after giving intimation and reasonable
examination, if any.
opportunity to the Policyholder to continue the
policy.
Suicide Exclusions
Policies in force for full benefits or fully paid
In case of death of the Life Insured due to suicide
policies would not be foreclosed on the account of
within 12 months from the date of commencement
outstanding loan amount (including outstanding
of risk under the policy or from the date of revival
interest on loan, if any) exceeding the surrender
of the policy, as applicable, the Company shall pay
value.
to the nominee or beneficiary 80% of the Total
premiums paid## (excluding any rider premium
Riders and taxes, thereon if any) till the date of death, or
At inception or at any Policy Anniversary during the the surrender value available as on date of death
Policy, you can choose any of the following optional whichever is higher, provided the policy is in force.
riders by paying the applicable additional rider
premium. Alterations
a) Pramerica Life Critical Illness Rider The Plan Option, Sum Assured on Death, Premium
(UIN: 140B026V01 Payment Term, Income Start Year, Annualized
b) Pramerica Life Accidental Death Benefit Rider Premium or Policy Term cannot be altered after
(UIN: 140B029V01) commencement of the policy. You have an option to
c) Pramerica Life Accidental Total and Permanent select the frequency of Guaranteed Income Benefit
Disability Rider (ATPD) (UIN: 140B027V01). (Income Payout) to be annual, semi-annual or
monthly. Income Payout Frequency for Guaranteed
d) Pramerica Life Waiver of Premium
Income Benefit can be changed any time before the
(UIN: 140B028V01)
Income Start Year however it cannot be changed
once the Income Payout Start. The corresponding
Terms and Conditions income payout shall be derived as
Death of Life Insured under the in force policy
Annual Income Payout Frequency:
In case of death of Life Assured under an inforce Annual Guaranteed Income x1
policy wherein all the premiums due till the date Semi-annual Income Payout Frequency:
of death have been paid and where the mode of (Annual Guaranteed Income x 98%)/2
payment of premium is other than yearly, balance Monthly Income Payout Frequency:
premium(s), if any, falling due from the date of (Annual Guaranteed Income x 97%)/12
death and before the next policy anniversary shall
be deducted from the claim amount.

10
Minor Lives Section 45 of the Insurance Act 1938, (as amended
In case the Life Insured is a minor at the date of from time to time):
commencement, the proposer can either be a parent Fraud and mis-statement would be dealt with in
or grandparent or legal guardian of the Life Insured accordance with provisions of Section 45 of the
or any other relation subject to insurable interest Insurance Act, 1938, as amended from time to
between the proposer and life insured. In case of time. For provisions of this Section, please contact
minor lives, date of risk commencement for policies the insurance Company or refer to the sample policy
will be same as that of date of commencement contract of this product on our website
of policy. The ownership of such policies will vest www.pramericalife.in
automatically in name of Life Insured once he/she
attains majority.
Grievance Redressal
I. In case of any clarification or query please
Tax Benefits
contact your Company Salesperson. Any concern
Premiums paid under this plan may be eligible for may also be raised at any of the branch offices
tax exemptions, subject to the applicable tax laws of the Company, the addresses of the branch
and conditions. Income tax benefits under this plan, offices are available on the official website of the
if any, shall be applicable as per the prevailing company.
Income Tax Laws and are subject to amendments
II. The Company may be contacted at:
from time to time. Kindly consult a tax expert.
Customer Service Helpline 1860 500 7070
(Local charges apply) / 011 48187070
Goods and Services Tax (GST)
(9:00 am to 7:00 pm from Monday to Saturday)
GST and other levies, as applicable, will be extra Email: [email protected]
and levied as per prevailing tax laws and are subject Email for Senior Citizen:
to change from time to time. [email protected]
Website: www.pramericalife.in
Nomination and Assignment
Communication Address:
Nomination in this policy is allowed as per Section Customer Service
39 of Insurance Act, 1938 as amended from time Pramerica Life Insurance Ltd.
to time. Assignment in this policy is allowed as per 4th Floor, Building No. 9 B, Cyber City,
Section 38 of Insurance Act, 1938 as amended DLF City Phase III, Gurgaon– 122002
from time to time. Office hours: 9:30 am to 6:30 pm from
Monday to Friday
Section 41 of the Insurance Act 1938: Prohibition of
rebate, (as amended from time to time): III. Grievance Redressal Officer:
If the response received from the Company
1. No person shall allow or offer to allow, either
is not satisfactory or no response is received
directly or indirectly, as an inducement to any
within two weeks of contacting the Company, the
person to take out or renew or continue an
matter may be escalated to:
insurance in respect to any kind of risk relating
Email- [email protected]
to lives or property in India, any rebate of the
whole or part of the commission payable or any Grievance Redressal Officer,
rebate of the premium shown on the policy, Pramerica Life Insurance Ltd.,
nor shall any person taking out or renewing or 4th Floor, Building No. 9 B, Cyber City,
continuing a policy accept any rebate, except DLF City Phase III, Gurgaon– 122002
such rebate as may be allowed in accordance GRO Contact Number: 0124 – 4697069
with the published prospectuses or tables of the Email- [email protected]
insurer. Office hours: 9:30 am to 6:30 pm from
Monday to Friday
2. Any person making default in complying with
the provisions of this section shall be liable for
penalty, which may extend to ten lakh rupees.

11
 IV. IRDAI- Grievance Redressal Cell: c. Disputes over premium paid or payable in terms
If after contacting the Company, the of insurance policy
Policyholders query or concern is not resolved d. Misrepresentation of policy terms and conditions
satisfactorily or within timelines the Grievance
e. Legal construction of insurance policies in so far
Redressal Cell of the IRDAI may be contacted.
as the dispute relates to claim
Bima Bharosa Toll Free number – 155255 or
1800-425-4732 f. Policy servicing related grievances against
Email Id- [email protected] insurers and their agents and intermediaries
Website: https://bimabharosa.irdai.gov.in g. Issuance of Life insurance policy, which is not in
Complaints against Life Insurance Companies: conformity with the proposal form submitted by
Insurance Regulatory and Development Authority the proposer
of India Policyholder’s protection & Grievance h. Non-issuance of insurance policy after receipt of
Redressal Department (PPGR), Sy. No. 115/1, premium
Financial District Nanakramguda, Gachibowli,
i. Any other matter resulting from the violation of
Hyderabad– 500032
provisions of the Insurance Act, 1938 or the
V. Insurance Ombudsman: regulations, circulars, guidelines or instructions
The office of the Insurance Ombudsman has issued by the IRDAI from time to time or the
been established by the Government of India for terms and conditions of the policy contract,
the redressal of any grievance in respect to life in so far as they relate to issues mentioned at
insurance policies. clauses (a) to (f)
Any person who has a grievance against an No complaint to the Insurance Ombudsman shall lie
insurer, may himself or through his legal heirs, unless
nominee or assignee, make a complaint in
(a) The complainant makes a written representation
writing to the Insurance Ombudsman within
to the insurer named in the complaint and—
whose territorial jurisdiction the branch or
office of the insurer complained against or the (i) Either the insurer had rejected the complaint, or
residential address or place of residence of the (ii) The complainant had not received any reply
complainant is located. within a period of one month after the insurer
The complaint shall be in writing, duly signed received his representation, or
by the complainant or through his legal heirs, (iii) The complainant is not satisfied with the reply
nominee or assignee and shall state clearly the given to him by the insurer
name and address of the complainant, the name (b) The complaint is made within one year—
of the branch or office of the insurer against
(i) After the order of the insurer rejecting the
whom the complaint is made, the facts giving
representation is received, or
rise to the complaint, supported by documents,
the nature and extent of the loss caused to the (ii) After receipt of decision of the insurer which is
complainant and the relief sought from the not to the satisfaction of the complainant, or
Insurance Ombudsman. (iii) After expiry of a period of one month from the
In case you are not satisfied with the decision/ date of sending the written representation to the
resolution of the insurer, you may approach the insurer if the insurer named fails to furnish reply
Insurance Ombudsman if your grievance pertains to to the complainant
any of the following: The address of the Insurance Ombudsman are
a. Delay in settlement of claim beyond the time attached herewith as Annexure and may also be
specified in the regulations, framed under the obtained from the following link on the internet -
Insurance Regulatory and Development Authority Link: //www.cioins.co.in/ombudsman
Act, 1999
b. Any partial or total repudiation of claims

12
 Address & Contact Details of Ombudsmen Centres
Office of The Governing Body of Insurance Council (Monitoring Body for Offices of Insurance Ombudsman) 3rd Floor, Jeevan Seva Annexe,
Santacruz (West), Mumbai - 400054. Tel no: 022 - 69038800/69038812. Email id: [email protected] Website: www.cioins.co.in
If you have a grievance, approach the grievance cell of Insurance Company first. If complaint is not resolved/ not satisfied/not responded for
30 days then You can approach The Office of the Insurance Ombudsman (Bimalokpal) Please visit our website for details to lodge complaint
with Ombudsman.

Sl. Centre Contact Person Office Details*** Jurisdiction of Office Union

Territory, District
1 AHMEDABAD Shri Collu Vikas Rao Insurance Ombudsman Office of the Insurance Jurisdiction : Gujarat, Dadra &
Ombudsman, Jeevan Prakash Building, 6th floor, Tilak Nagar Haveli, Daman and Diu.
Marg, Relief Road, AHMEDABAD - 380 001.
Tel.: 079 - 25501201/02
Email: [email protected]
2 BENGALURU Mr Vipin Anand Insurance Ombudsman Office of the Insurance Jurisdiction : Karnataka.
Ombudsman, Jeevan Soudha Building, PID No.
57-27- N-19 Ground Floor, 19/19, 24th Main Road,
JP Nagar, Ist Phase, Bengaluru - 560 078.
Tel.: 080 - 26652048 / 26652049
Email: [email protected]
3 BHOPAL Shri R. M. Singh Insurance Ombudsman Office of the Insurance Jurisdiction : Madhya Pradesh,
Ombudsman, 1st floor, “Jeevan Shikha”, Chhattisgarh.
60-B,Hoshangabad Road, Opp. Gayatri
Mandir, Bhopal - 462 011.
Tel.: 0755 - 2769201 / 2769202 / 2769203
Email: [email protected]
4 BHUBANESWAR Shri Manoj Kumar Parida Insurance Ombudsman Office of the Insurance Jurisdiction : Odisha.
Ombudsman, 62, Forest park, Bhubaneswar - 751
009. Tel.: 0674 - 2596461 /2596455 / 2596429 /
2596003 Email: [email protected]
5 CHANDIGARH Mr Atul Jerath Insurance Ombudsman Office Of The Insurance Jurisdiction : Punjab, Haryana
Ombudsman, Jeevan Deep Building SCO 20-27, Ground (excluding Gurugram, Faridabad,
Floor Sector- 17 A, Chandigarh - 160 017. Sonepat and Bahadurgarh),
Tel.: 0172 - 2706468 Himachal Pradesh, Union
Email: [email protected] Territories of Jammu &
Kashmir,Ladakh & Chandigarh.
6 CHENNAI Shri Somnath Ghosh Insurance Ombudsman Office of the Insurance Jurisdiction : Tamil Nadu,
Ombudsman, Fatima Akhtar Court, 4th Floor, 453, Puducherry Town and Karaikal
Anna Salai, Teynampet, CHENNAI - 600 018. (which are part of Puducherry).
Tel.: 044 - 24333668 / 24333678
Email: [email protected]
7 DELHI Ms Sunita Sharma Insurance Ombudsman Office of the Insurance Jurisdiction : Delhi & following
Ombudsman, 2/2 A, Universal Insurance Building, Districts of Haryana - Gurugram,
Asaf Ali Road, New Delhi - 110 002. Faridabad, Sonepat &
Tel.: 011 – 46013992 / 23213504 / 23232481 Bahadurgarh.
Email: [email protected]
8 GUWAHATI Shri Somnath Ghosh Insurance Ombudsman Office of the Insurance Jurisdiction : Assam, Meghalaya,
Ombudsman, Jeevan Nivesh, 5th Floor, Nr. Panbazar Manipur, Mizoram, Arunachal
over bridge, S.S. Road, Guwahati - 781001(ASSAM). Pradesh, Nagaland and Tripura.
Tel.: 0361 - 2632204 / 2602205 / 2631307
Email: [email protected]
9 HYDERABAD Shri N. Sankaran Insurance Ombudsman Office of the Insurance Jurisdiction : Andhra Pradesh,
Ombudsman, 6-2-46, 1st floor, “Moin Court”, Lane Telangana, Yanam and part of
Opp. Saleem Function Palace, A. C. Guards, Lakdi-Ka- Union Territory of Puducherry.
Pool, Hyderabad - 500 004. Tel.: 040 – 23312122
/ 23376991 / 23376599 / 23328709 / 23325325
Email: [email protected]
10 JAIPUR Shri Rajiv Dutt Sharma Insurance Ombudsman Office of the Insurance Jurisdiction : Rajasthan.
Ombudsman, Jeevan Nidhi - II Bldg., Gr. Floor, Bhawani
Singh Marg, Jaipur - 302 005. Tel.: 0141- 2740363
Email: [email protected]
11 KOCHI Shri G. Radhakrishnan Insurance Ombudsman Office of the Insurance Jurisdiction : Kerala,
Ombudsman, 10th Floor, Jeevan Prakash, LIC Building, Lakshadweep, Mahe-a part of
Opp to Maharaja’s College Ground, Union Territory of Puducherry.
M.G. Road, Kochi - 682 011. Tel.: 0484 - 2358759
Email: [email protected]
12 KOLKATA Ms Kiran Sahdev Insurance Ombudsman Office of the Insurance Jurisdiction : West Bengal,
Ombudsman, Hindustan Bldg. Annexe, 7th Floor, Sikkim, Andaman & Nicobar
4, C.R. Avenue, KOLKATA - 700 072. Islands.
Tel.: 033 - 22124339 / 22124341
Email: [email protected]

13
 13 LUCKNOW Shri. Atul Sahai Insurance Ombudsman Office of the Insurance Jurisdiction : Districts of
Ombudsman, 6th Floor, Jeevan Bhawan, Phase-II, Uttar Pradesh : Lalitpur,
Nawal Kishore Road, Hazratganj, Lucknow - 226 001. Jhansi, Mahoba, Hamirpur,
Tel.: 0522 - 4002082 / 3500613 Banda, Chitrakoot, Allahabad,
Email: [email protected] Mirzapur, Sonbhabdra, Fatehpur,
Pratapgarh, Jaunpur,Varanasi,
Gazipur, Jalaun, Kanpur, Lucknow,
Unnao, Sitapur, Lakhimpur,
Bahraich, Barabanki, Raebareli,
Sravasti, Gonda, Faizabad,
Amethi, Kaushambi, Balrampur,
Basti, Ambedkarnagar, Sultanpur,
Maharajgang, Santkabirnagar,
Azamgarh, Kushinagar, Gorkhpur,
Deoria, Mau, Ghazipur, Chandauli,
Ballia, Sidharathnagar.
14 MUMBAI Mr Vipin Anand Insurance Ombudsman Office of the Insurance Jurisdiction : Goa, Mumbai
Ombudsman, 3rd Floor, Jeevan Seva Annexe, S. V. Metropolitan Region (excluding
Road, Santacruz (W), Mumbai - 400 054. Navi Mumbai & Thane).
Tel.: 022 - 69038800/27/29/31/32/33
Email: [email protected]
15 NOIDA Shri Bimbadhar Pradhan Insurance Ombudsman Office of the Insurance Jurisdiction : State of Uttarakhand
Ombudsman, Bhagwan Sahai Palace 4th Floor, Main and the following Districts of
Road, Naya Bans, Sector 15, Distt: Gautam Buddh Uttar Pradesh: Agra, Aligarh,
Nagar, U.P - 201301. Tel.: 0120-2514252 / 2514253 Bagpat, Bareilly, Bijnor, Budaun,
Email: [email protected] Bulandshehar, Etah, Kannauj,
Mainpuri, Mathura, Meerut,
Moradabad, Muzaffarnagar,
Oraiyya, Pilibhit, Etawah,
Farrukhabad, Firozbad, Gautam
Buddh nagar, Ghaziabad,
Hardoi, Shahjahanpur, Hapur,
Shamli, Rampur, Kashganj,
Sambhal, Amroha, Hathras,
Kanshiramnagar, Saharanpur.
16 PATNA Ms Susmita Mukherjee Insurance Ombudsman Office of the Insurance Jurisdiction : Bihar, Jharkhand.
Ombudsman, 2nd Floor, Lalit Bhawan, Bailey Road,
Patna - 800 001. Tel.: 0612-2547068
Email: [email protected]
17 PUNE Shri Sunil Jain Insurance Ombudsman Office of the Insurance Jurisdiction : Maharashtra, Areas
Ombudsman, Jeevan Darshan Bldg., 3rd Floor, of Navi Mumbai and Thane
C.T.S. No.s. 195 to 198, N.C. Kelkar Road, Narayan (excluding Mumbai Metropolitan
Peth, Pune - 411 030. Tel.: 020-24471175 Region).
Email: [email protected]

***Please note that the address may change. For the most up-to-date information, please refer to the following link: www.cioins.co.in/ombudsman

About Pramerica Life Insurance Limited

Pramerica Life Insurance Limited is a joint venture between DHFL Investments Limited (DIL), a wholly-
owned subsidiary of Piramal Capital and Housing Finance Limited (“PCHFL”) 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 Prudential Financial, Inc.
Prudential International Insurance Holdings, Ltd. and Prudential Financial, Inc. of the United States are not
affiliated with Prudential Plc. a Company incorporated in the United Kingdom.
For further information on the Company, please visit www.pramericalife.in

14
About Piramal Capital & Housing Finance Limited (PCHFL)
Piramal Capital & Housing Finance Limited (PCHFL), 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, PCHFL 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 presence in
24 states with a network of over 300 branches. It offers multiple products, including home 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.
The Piramal Group also has strategic partnerships with leading global funds such as CDPQ, CPPIB, APG,
Ivanhoe Cambridge and Bain Capital.

About Prudential Financial, Inc. (PFI)

Prudential Financial,Inc. (PFI), a financial services leader with $1.7 trillion of assets under management
as of September,2021 has operations in the United States, Asia, Europe and Latin America. Prudential’s
diverse and talented employees are committed to helping individual and institutional customers grow and
protect their wealth through a variety of products and services, including life insurance, annuities, retirement-
related services, mutual funds and investment management. Prudential International Insurance Holdings &
Prudential Financial Inc. of the United States are not affiliated with Prudential Plc, a Company incorporated
in the United Kingdom. In the U.S., PFI’s iconic Rock symbol has stood for strength, stability, expertise and
innovation for more than a century. For more information, please visit www.prudential.com/about
Pramerica Life and the Rock Logo are proprietary service marks and may not be used without the permission
of the owner.

15
 TAKE THE DECISION TO PROTECT
YOUR FAMILY’S FUTURE TODAY.

CALL AT SMS ‘LIFE’ TO EMAIL

1860 500 7070 or 5607070 [email protected]
(Local charges apply)

011 4818 7070

This product provides Life Insurance coverage. Pramerica Life Flexi Income Plan - A Non-Linked Non-Participating Individual Savings Life Insurance
Plan. UIN: 140N090V02. Goods & Services Tax will be charged over and above the quoted premium. Tax Benefits may be available as per the
applicable laws as amended from time to time. This plan offers guaranteed benefits provided the policy is in force and all due premiums are paid in full.
This Product brochure is indicative of the terms, warranties, conditions and exclusions contained in the insurance policy. Please know the associated
risk and applicable charges from your insurance agent or the intermediary or policy document of the insurer.
IRDAI Registration No. 140. Pramerica Life Insurance Limited. Registered Office and Communication Address: 4th Floor, Building No. 9, Tower B,
Cyber City, DLF City Phase III, Gurgaon - 122002, Haryana. CIN: U66000HR2007PLC052028. Customer Service Helpline Numbers:
1860 500 7070 (Local charges apply) or 011 4818 7070 Timings: 9:00 a.m. to 7:00 p.m. (Monday-Saturday), SMS ‘LIFE’ to 5607070’. For more
details on our products please refer to our website www.pramericalife.in. Email: [email protected]. The Pramerica mark displayed belongs to
‘The Prudential Insurance Company of America’ and is used by Pramerica Life Insurance Limited under license.
FI/B-ENG/24/DEC/V4
BEWARE OF SPURIOUS PHONE CALLS AND FICTITIOUS / FRAUDULENT OFFERS. IRDAI or its officials do not involve in activities like selling
insurance policies, announcing bonus or investment of premiums. Public receiving such phone calls are requested to lodge a police complaint.