It Offers Five Ways to Plan for Life’s Different Financial Needs
FinTech BizNews Service
Mumbai, 29 September 2026: Pramerica Life Insurance today announced the launch of Pramerica Life Poorna Rakshak, a non-linked, non-participating individual savings life insurance plan that combines life protection with guaranteed benefits and a choice of income structures. With five distinct variants, the product enables customers to choose how and when they receive their benefits based on their financial goals, income requirements and future milestones.
Poorna Rakshak has been developed around the understanding that customers have different financial and protection needs at different stages of life. A young parent may prioritise planning for a child's education and future milestones, while another customer may be looking for an additional source of income in the near term. Designed as an all-encompassing solution, Poorna Rakshak is built to address the varied needs of a wide range of customer cohorts, with the flexibility to align with their individual life stages, financial goals and aspirations. Customers can choose the option that best suits their unique circumstances, making the product relevant across different phases of life and for diverse financial priorities.
Poorna Rakshak addresses these varying priorities through five benefit structures, each designed around a different customer need:
Across all five variants, Poorna Rakshak offers life cover throughout the policy term along with guaranteed benefits under the selected variant, subject to the policy remaining in force and applicable terms and conditions. The choice of benefit structures enables customers to align the timing of their payouts more closely with anticipated financial requirements and milestones. Tax benefits are also available as applicable under prevailing tax laws.
Pankaj Gupta, MD & CEO, Pramerica Life Insurance, said, “Financial planning becomes more meaningful when it reflects how people actually live - their responsibilities, aspirations and the milestones they are preparing for. With Poorna Rakshak, we wanted to give customers the ability to choose a structure that fits their priorities, while retaining the certainty of guaranteed benefits and the security of life protection. It also strengthens our guaranteed product portfolio, an area that has been an important part of our product philosophy over the years.”
Karthik Chakrapani, Chief Business Officer, Pramerica Life Insurance, said, “One thing we consistently see in customer and distributor conversations is that savings needs are becoming increasingly specific. Customers are asking not only about returns or maturity benefits, but also about when benefits begin, how frequently they are received and whether the structure fits a particular goal. Poorna Rakshak has been built to respond to these more nuanced conversations through five clearly differentiated payout options. Ultimately, it is about making savings solutions more relevant to the way customers plan their lives.”
With Poorna Rakshak, Pramerica Life further strengthens its guaranteed savings portfolio by bringing together choice, predictability and life protection, while enabling customers to select a benefit structure aligned with their individual financial requirements and life-stage milestones.
