Archive · 29 Sep 2026
Pramerica Life Launches Poorna Rakshak With Five Benefit Options
Pramerica Life Insurance has introduced a new life insurance plan called Poorna Rakshak.
It is designed to help people save money while also providing life protection.
Customers can choose one of five ways to receive benefits.
Some options are meant for children’s future expenses, such as education.
Another option begins paying income early in the policy.
One option gives some money back soon after the first premium is processed.
Other options provide payments every five years or during later policy years.
The guaranteed benefits depend on the selected option and the policy staying active.
Pramerica Life Insurance launched Poorna Rakshak, a non-linked, non-participating individual savings life insurance plan.
The product combines life protection with guaranteed benefits and lets customers choose among five payout structures.
Smart Scholars supports children’s future milestones, while Early Income provides payouts from the second, third or fourth policy year.
Income Booster offers upfront cashback of 25% or 35% of annualised premium, while Smart Money Back provides payouts at five-year intervals.
Smart Saver provides income from the sixth through tenth policy years, and all variants include life cover subject to policy terms and conditions.
- Who
- Pramerica Life Insurance Limited launched the product, with comments from Managing Director and Chief Executive Officer Pankaj Gupta and Chief Business Officer Karthik Chakrapani.
- What
- It launched Poorna Rakshak, a non-linked, non-participating individual savings life insurance plan with five benefit structures.
- When
- September 29; the year is not specified in the article.
- Where
- Gurugram, Haryana, India.
- Why
- The product is intended to address different financial goals, income needs and life-stage milestones through flexible payout structures.
- Product
- Pramerica Life Poorna Rakshak
- Product type
- Non-linked, non-participating individual savings life insurance plan
- Benefit choices
- Five variants: Smart Scholars, Early Income, Income Booster, Smart Money Back and Smart Saver
- Life protection
- Life cover continues throughout the policy term, subject to applicable terms and conditions
- Income Booster cashback
- 25% or 35% of annualised premium within 10 days of realisation of the first premium after issuance
- Smart Money Back
- Guaranteed income is paid at five-year intervals, with each successive payout doubling the previous payout
- Tax treatment
- Tax benefits are available as applicable under prevailing tax laws