Current Context: On 29 September 2026, Pramerica Life Insurance launched Poorna Rakshak, a non-linked, non-participating individual savings life insurance plan. It combines life protection with guaranteed benefits and offers five variants for different financial needs.
- Type of plan: Poorna Rakshak is a non-linked, non-participating individual savings life insurance plan, meaning its benefits are not linked to market performance.
- Five variants: Smart Scholars, Early Income, Income Booster, Smart Money Back and Smart Saver.
- Smart Scholars: Designed for a child’s future milestones, with income beginning around age 16 or 18 and continuing through selected milestone years.
- Early Income: Provides regular income starting from the 2nd, 3rd or 4th policy year.
- Income Booster: Offers an upfront cashback of 25% or 35% of Annualised Premium, along with future regular income.
- Smart Money Back: Provides guaranteed income at five-year intervals, with successive payouts increasing over time.
- Smart Saver: Provides structured income from the 6th to 10th policy year, along with a maturity benefit.
- Protection: All variants provide life cover throughout the policy term, subject to policy conditions.
- Extra features: The plan also offers options such as riders, premium-offset features and flexibility in choosing the timing of income payouts.
Question:
Q1. How many variants are offered under Pramerica Life Poorna Rakshak?a) Three
b) Four
c) Five
d) Six
Answer: c) Five. Poorna Rakshak offers Smart Scholars, Early Income, Income Booster, Smart Money Back and Smart Saver.
