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Pramerica Life Insurance Plans

Pramerica Life Insurance Company is one of the premier insurance companies in India with a claim settlement ratio of 99.06%.

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Established on 1 September 2008, Pramerica Life Insurance has a pan-India presence, offering a range of distribution channels tailored to meet the diverse insurance needs of its customers.

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 subsidiary of Prudential Financial, Inc. (PFI).

Pramerica Life Insurance Categories

Pramerica Life Insurance provides insurance schemes under six different categories. They are:

1. Term Plans

2. ULIP Plans

3. Savings Plan

4. Child Progress Plans

5. Health Plans

6. Retirement Plans     

1. Pramerica Life Insurance Term Plans:

Pramerica Life offers four term insurance plans designed to provide financial security for your family. Some of these term insurance plans are customisable that adapt to your needs, ensuring your family's future is protected even in your absence.

Insurance Plan

Details

Pramerica Life RockSolid Term Insurance

Minimum Age at Entry: 18 years

Maximum Age at Entry:

  1. Regular Pay: 65 years
  1. Limited Pay (5/10/15 years): 65 years
  1.  Pay till Age 60: 55 years

Spouse Cover:

  1. Minimum age: 21 years for both Primary Life and Secondary Life
  1. Maximum age: 55 years for both Primary Life and Secondary Life

Maturity Age:

  1. Minimum Age: 28 years
  1. Maximum Age: 85 years

Sum Assured:

  1. Minimum: Rs. 50,00,000
  1.  Maximum: As per policy

Policy Term:

  1. Minimum Age: 10 years
  1.  Maximum Age: 30 years and up to 65, 70, 75, 80, 85 years

Premium Payment Term:

  1. Regular Pay: Same as policy term
  1.  Single Pay: One time payment
  1. Limited Pay: 5, 10, 15 to age 60

Premium Payment Frequency: Monthly, semi-annual, and annual

Pramerica Life Saral Jeevan Bima

Entry Age:

  1. Minimum: 18 years
  1. Maximum: 65 years

Maturity Age: 70 years

Sum Assured:

  1. Minimum: Rs. 5,00,000
  1. Maximum: Rs. 25,00,000

Policy Term & Premium Payment Term:

  1. Regular Premium:

Policy Term: 5 to 40 years

Premium Payment Term: Same as policy term

  1. Limited Premium:

Policy Term: 6 to 40 years, 11 to 40 years

Premium Payment Term: 5 years, 10 years

  1. Single Premium:

Policy Term: 5 to 40 years

Premium Payment Term: One time payment

Premium Payment Frequency: Single, monthly, semi-annual, and annual

Pramerica Life TruShield

Entry Age:

  1. Minimum: 18 years
  1. Maximum:

o   7-year policy term: 50 years

o   10-year policy term: 55 years

o   12-year policy term: 50 years

o   15-year policy term: 50 years

o   20-year policy term: 45 years

Maturity Age: 65 years

Sum Assured:

  1. Minimum: Rs. 5,00,000
  1. Maximum: Rs. 5 crore (as per approved underwriting policy)

Policy Term & Premium Payment Term:

  1. 7-year policy term: Regular pay
  1. 10-year policy term: Regular pay, single pay or 5 pay
  1. 12-year policy term: Regular pay

15-year policy term: Single pay, 7 pay or 12 pay

 20-year policy term: Single pay or 10 pay

Premium Payment Frequency: Single, monthly, and annual

Pramerica Life U-Protect

Entry Age:

  1. Minimum: 18 years
  1. Maximum: 65 years

Maturity Age:

  1. Minimum Age: NA
  1. Maximum Age: 65 years

Sum Assured:

  1. Minimum: Rs. 25,00,000
  1. Maximum: As per policy

Policy Term:

  1. Minimum Age: 10 years
  1. Maximum Age: 30 years

Premium Payment Term: Regular pay

Premium Payment Frequency: Semi-annual, and annual

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2. Pramerica Life Insurance ULIP Plans:

Pramerica Life offers six ULIP plans that offer life cover to protect your loved ones. Pramerica ULIP Plans combine savings and protection to secure your family's future while helping you achieve financial goals through flexible coverage options and investment opportunities.

Insurance Plan

Details

Pramerica Life Smart Invest

1. Wealth Builder

Entry Age:

For Single Pay

  1. Minimum: 90 days
  1.  Maximum: 50 years

For Others

  1. Minimum: 90 days
  1. Maximum: 60 years

Maturity Age:

  1. Minimum Age: 18 years
  1. Maximum Age: 75 years

Sum Assured:

Limited Pay or Regular Pay:

  1.  Sum Assured is 7 or 10 times the Annual Premium for ages below 50.
  1. Sum Assured is 5 or 10 times the Annual Premium for ages 50 and above.

Single Pay:

  1.  Sum Assured is 1.25 or 10 times the Single Premium for ages below 50.
  1. Sum Assured is 1.10 or 10 times the Single Premium for ages 50 and above.

Policy Term:

  1. Minimum Age: 10 years
  1. Maximum Age: 40 years

Premium Payment Term:

  1. Single pay and limited pay- 5, 7 and 10 years

Regular pay- 10 to 40 years

Premium Payment Frequency: Single, monthly, quarterly, semi-annual, and annual

2. Dream Builder

Entry Age:

  1. Minimum: 18 years
  1. Maximum: 50 years

Maturity Age:

  1. Minimum Age: 28 years
  1. Maximum Age: 65 years

Sum Assured:

Limited Pay or Regular Pay:

  1. Sum Assured is 7 or 10 times the Annual Premium for ages below 50.
  1. Sum Assured is 5 or 10 times the Annual Premium for ages 50 and above.

Single Pay:

  1. Sum Assured is 1.25 or 10 times the Single Premium for ages below 50.
  1. Sum Assured is 1.10 or 10 times the Single Premium for ages 50 and above.

Policy Term:

  1. Minimum Age: 10 years
  1. Maximum Age: 40 years

Premium Payment Term:

  1. Single pay and limited pay- 5, 7 and 10 years

Regular pay- 10 to 40 years

Premium Payment Frequency: Single, monthly, quarterly, semi-annual, and annual

3. Legacy Builder

Entry Age:

  1.  Minimum: 90 days
  1. Maximum: 60 years

Maturity Age: 99 years

Sum Assured:

Limited Pay or Regular Pay:

  1. Sum Assured is 7 or 10 times the Annual Premium for ages below 50.
  1. Sum Assured is 5 or 10 times the Annual Premium for ages 50 and above.

Single Pay:

  1. Sum Assured is 1.25 or 10 times the Single Premium for ages below 50.
  1. Sum Assured is 1.10 or 10 times the Single Premium for ages 50 and above.

Policy Term: 99 minus age at entry

Premium Payment Term:

Limited pay- 5, 7, 10 to 70 minus age at entry

Premium Payment Frequency: Single, monthly, quarterly, semi-annual, and annual

Pramerica Life Super Investment Plan

1. Wealth Builder

Entry Age:

  1.  Minimum: 90 days
  1. Maximum: 65 years

Maturity Age:

  1. Minimum Age: 18 years
  1. Maximum Age: 75 years

Sum Assured:

  1. Sum Assured is 7 or 10 times the Annual Premium for ages below 50.
  1. Sum Assured is 5 or 10 times the Annual Premium for ages 50 to 55 years.
  1. Sum Assured is 5 times the Annual Premium for ages below 56 years and above.

Policy Term: 10, 15, 20, 25, & 30 years

Premium Payment Term:

  1. For ten-year policy term- 5 to 9 years
  1.  For 15-year policy term- 5 to 14 years

For 20/25/30-year policy term- 5 to 15 years

  1. Premium Payment Frequency: Single, monthly, quarterly, semi-annual, and annual

2. Dream Builder

Entry Age:

  1. Minimum: 18 years
  1. Maximum: 65 years

Maturity Age:

  1.  Minimum Age: 28 years
  1. Maximum Age: 75 years

Sum Assured:

  1. Sum Assured is 7 or 10 times the Annual Premium for ages below 50.
  1. Sum Assured is 5 or 10 times the Annual Premium for ages 50 to 55 years.
  1. Sum Assured is 5 times the Annual Premium for ages below 56 years and above.

Policy Term: 10, 15, 20, 25, & 30 years

Premium Payment Term:

  1. For ten-year policy term- 5 to 9 years
  1. For 15-year policy term- 5 to 14 years
  1.  For 20/25/30-year policy term- 5 to 15 years

Premium Payment Frequency: Single, monthly, quarterly, semi-annual, and annual

3. Legacy Builder

Entry Age:

  1. Minimum: 90 days
  1. Maximum: 65 years

Maturity Age:

  1.   Minimum Age: 99 years
  1.  Maximum Age: 99 years

Sum Assured:

  1. Sum Assured is 7 or 10 times the Annual Premium for ages below 50.
  1. Sum Assured is 5 or 10 times the Annual Premium for ages 50 to 55 years.
  2. Sum Assured is 5 times the Annual Premium for ages below 56 years and above.

Policy Term: 99 minus age at entry

Premium Payment Term: 7, 10, 12, and 15 years

Premium Payment Frequency: Single, monthly, quarterly, semi-annual, and annual

Pramerica Life Wealth Enhancer

Entry Age:

  1.  Minimum: 1 year
  1.  Maximum: 70 years

Maturity Age:

  1. Minimum Age: 18 years
  1. Maximum Age: 75 years

Sum Assured Based on Entry Age and Plan Option:

  1. Age 1 year to 45 years:

o   Option A: 10 times the Single Premium

o   Option B: 1.25 times the Single Premium

  1. Age 46 to 49 years:

o   Option A: Not Available (NA)

o   Option B: 1.25 times the Single Premium

  1. Age 50 years and Above:

o   Option A: Not Available (NA)

o   Option B: 1.10 times the Single Premium

Policy Term:

  1. Age at entry 1 year to 40 years

o   Option A: 5 to 20 years

o   Option B: 5 to 20 years

  1. Age at entry 41 to 45 years

o   Option A: 5 to 10 years

o   Option B: 5 to 20 years

  1. Age at entry 46 years and Above:

o   Option A: Not Available (NA)

o   Option B: 5 to 20 years

Premium Payment Term: Single pay

Premium Payment Frequency: Single pay

Note:

Option A: Sum Assured is ten times the Single Premium

Option B: Sum Assured is 1.25 times the Single Premium (for age at entry below 50 years) and 1.10 times the Single Premium (for age at entry 50 years and above).

Pramerica Life Wealth Maximiser

Entry Age:

  1.  Minimum: 90 days
  1. Maximum: 65 years

Maturity Age:

  1. Minimum Age: 18 years
  1. Maximum Age: 75 years

Minimum Sum Assured Based on Premium Payment Term and Age:

Single Pay:

  1.  Less than 45 years: 1.25 times the Single Premium
  1. 45 years and above to less than 50 years: 1.25 times the Single Premium
  1. 50 years and above: 1.10 times the Single Premium

Limited or Regular Pay:

  1.  Less than 45 years: Higher of 7 times the Annual Premium or 0.5 times the Policy Term x Annual Premium
  1. 45 years and above to less than 50 years: Higher of 7 times the Annual Premium or 0.25 times the Policy Term x Annual Premium
  1. 50 years and above: Higher of 5 times the Annual Premium or 0.25 times the Policy Term x Annual Premium

Maximum Sum Assured Based on Age at Entry:

Single Pay:

  1. Up to 30 years: 1.25 times the Single Premium
  1. 50 to 55 years: 1.10 times the Single Premium
  1. 55 years & above: 7 times the Single Premium

Limited or Regular Pay:

  1. Up to 30 years: 30 times the Annual Premium
  1. 31 to 35 years: 20 times the Annual Premium
  1. 36 to 40 years: 15 times the Annual Premium
  1. 41 to 44 years: 12.5 times the Annual Premium
  1. 45 to 49 years: 10 times the Annual Premium
  1. 50 to 55 years: 10 times the Annual Premium
  1. 55 years & above: 7 times the Annual Premium

Policy Term:

  1. For Limited or Regular Pay

o   Age at entry 1 year to 40 years: 5 to 30 years

o   Age at entry 41 to 65 years: 5 to 25 years

  1.  For Single Pay: 5 to 10 years

Premium Payment Term: Single pay, limited pay and regular pay

Premium Payment Frequency: Single, monthly, quarterly, semi-annually, annually

Pramerica Life Wealth + Ace

Entry Age:

  1.  Minimum:

o   10-year policy term: 8 years

o   15-year policy term: 3 years

o   20 to 25-year policy term: 90 days

  1. Maximum: 65 years

Maturity Age:

  1. Minimum Age: NA
  1.  Maximum Age: 75 years

Sum Assured Based on Entry Age

  1. Age less than 50 years:

o   Minimum: 1.25 times the Single Premium

o   Maximum: Rs. 10 crore

  1. Age 50 years and Above:

o   Minimum: 1.10 times the Single Premium

o   Maximum: Rs. 10 crore

Policy Term: 10, 15, 20, and 25 years

Premium Payment Term: Single pay

Premium Payment Frequency: Single pay

Pramerica Life Smart Wealth+

Entry Age:

  1. Minimum: 8 years
  1. Maximum: 55 years

Maturity Age:

  1. Minimum Age: NA
  1. Maximum Age: 75 years

Sum Assured Multipliers Based on Age at Entry and Premium Paying Term:

  1. Premium Paying Term: 5 years

o   Age at entry less than 45 years: 7 or 10 times the Annualised Premium

o   Age at entry 45 to less than 50 years: 7 times the Annualised Premium

o   Age at entry 50 years and above: 5 times the Annualised Premium

  1.  Premium Paying Term: 10, 15, or 20 years

o   Age at entry less than 45 years: 7 or 10 times the Annualised Premium

o   Age at entry 45 to less than 50 years: 7 or 10 times the Annualised Premium

o   Age at entry 50 years and above: 5 or 10 times the Annualised Premium

Policy Term: 20 years

Premium Payment Term: 5, 10, 15, and 20 years

Premium Payment Frequency: Monthly, quarterly, semi-annually, and annually

3. Pramerica Life Insurance Savings Plans:

Pramerica Life offers 11 savings insurance plans that are well planned financial strategies for you and your family with assured income payout.  These savings plans will help you and your family to achieve your goals, remain comfortable and financially stable.

Insurance Plan

Details

Pramerica Life Flexi Income Plan

1. Early Income

Entry Age:

  1. Premium Payment Term: 6 years

o   Minimum: 91 days

o   Maximum: 45 years

  1. Premium Payment Term: 8, 10, 12 years

o   Minimum: 91 days

o   Maximum: 55 years

Maturity Age:

  1. Minimum Age: 25 years
  1. Maximum Age: 80 years

Sum Assured: 7 to 10 times of the Annualised Premium

Policy Term: 25, 30, 35, and 40 years

Income Start Year: 1, 2, 3, 4, and 5 years

Premium Payment Term: 6, 8, 10, and 12 years

Premium Payment Frequency: Quarterly, semi-annual, and annual

2. Early Income with PCB

Entry Age:

  1. Premium Payment Term: 6 years

o   Minimum: 91 days

o   Maximum: 45 years

  1. Premium Payment Term: 8, 10, 12 years

o   Minimum: 91 days

o   Maximum: 55 years

Maturity Age:

  1. Minimum Age: 25 years
  1. Maximum Age: 80 years

Sum Assured: 7 to 10 times of the Annualised Premium

Policy Term: 25, 30, 35, and 40 years

Income Start Year: 1, 2, 3, 4, and 5 years

Premium Payment Term: 6, 8, 10, and 12 years

Premium Payment Frequency: Quarterly, semi-annual, and annual

Pramerica Life Signature Wealth

1. LumpSum

Entry Age:

  1. Single Life

o   Minimum: 91 days

o   Maximum: 65 years

  1. Joint Life

o   Minimum: 91 days

o   Maximum: 55 years

Maturity Age:

  1. Single Life

o   Minimum: 18 years

o   Maximum: 80 years

  1. Joint Life

o   Minimum: 18 years

o   Maximum: 70 years

Sum Assured:

  1. Single Life: 1.25 times of the Single Premium
  1. Joint Life: 10 times of the Single Premium

Policy Term:

  1. Minimum: 5 years
  2. Maximum: 30 years

Income Period: NA

Premium Payment Term: Single pay

Premium Payment Frequency: Single pay

2. Regular Income

Entry Age:

  1.  Single Life

o   Minimum: 91 days

o   Maximum: 65 years

  1. Joint Life

o   Minimum: 91 days

o   Maximum: 60 years

Maturity Age:

  1. Single Life

o   Minimum: 18 years

o   Maximum: 80 years

  1. Joint Life

o   Minimum: 18 years

o   Maximum: 70 years

Sum Assured:

  1. Single Life: 1.25 times of the Single Premium
  1. Joint Life: 10 times of the Single Premium

Policy Term:

  1. Minimum: 5 years
  1. Maximum: 15 years

Income Period: 20, 25, and 30 years

Premium Payment Term: Single pay

Premium Payment Frequency: Single pay

Pramerica Life RockSolid Future

1. Income Builder

Entry Age:

  1. Minimum: 1 year
  1. Maximum: 60 years

Maturity Age:

  1. Minimum: 18 years
  1. Maximum: 75 years

Policy Term:

  1. Minimum: 5 years
  1. Maximum: 17 years

Income Period: 10, 15, 20, 25, 30, and 35 years

Premium Payment Term:

  1. Minimum: 5 years
  1. Maximum: 12 years

Premium Payment Frequency: Single, monthly, semi-annually, and annually

2. Family Income Builder

Entry Age:

  1.  Minimum: 18 years
  1. Maximum: 50 years

Maturity Age:

  1.  Minimum: 23 years
  1. Maximum: 67 years

Policy Term:

  1. Minimum: 5 years
  1. Maximum: 17 years

Income Period: 10, 15, 20, 25, 30, and 35 years

Premium Payment Term:

  1.  Minimum: 5 years
  1. Maximum: 12 years

Premium Payment Frequency: Single, monthly, semi-annually, and annually

3. Fortune Builder

Entry Age:

  1. For 5- year premium paying term: 91 days to 55 years
  1. For other premium paying term: 91 days to 60 years

Maturity Age:

  1. Minimum: 18 years
  1. Maximum: 75 years

Policy Term:

  1. Single Pay: 10 to 20 years
  1. Limited Pay: Premium paying term + 5 to 30 years

Income Period: NA

Premium Payment Term:

  1. Single Pay: One time payment
  1.  Limited Pay: 5 to 12 years

Premium Payment Frequency: Single, monthly, semi-annually, and annually

4. Dream Builder

Entry Age:

  1. Minimum: 18 years
  1. Maximum: 50 years

Maturity Age:

  1. Minimum: 28 years
  1. Maximum: 75 years

Policy Term:

  1. Minimum: Premium paying term + 5 years
  1. Maximum: 30 years

Income Period: NA

Premium Payment Term:

  1. Minimum: 5 years
  1. Maximum: 12 years

Premium Payment Frequency: Single, monthly, semi-annually, and annually

Pramerica Life Guaranteed Return on Wealth

Entry Age:

  1. Minimum: 91 days
  1. Maximum: 60 years

Maturity Age:

  1. Minimum: 18 years
  1. Maximum: 102 years

Policy Term:

  1. Minimum: 15 years
  2. Maximum: 42 years

Income Period: 10, 15, 20, and 25 years

Premium Payment Term: 5, 8, 10, and 12 years

Premium Payment Frequency: Monthly, semi-annually, and annually

Pramerica Life Secure Savings Plan

Entry Age:

  1. Minimum: 5 years
  1. Maximum: 60 years

Maturity Age:

  1. Minimum: 18 years
  1. Maximum: 73 years

Policy Term: 13 years

Sum Assured: 11 times of the Annualised Premium

Premium Payment Term: 8, 10, and 12 years

Premium Payment Frequency: Single, monthly, semi-annually, and annually

Pramerica Life Smart Income

Entry Age:

  1. Minimum: 8 years
  1. Maximum: 60 years

Maturity Age:

  1. Minimum: 18 years
  1. Maximum: 75 years

Policy Term:

  1. Minimum: 7 years
  1. Maximum: 20 years

Sum Assured: 11 times of the Annualised Premium

Premium Payment Term:

  1.  For 7-year policy term: 5 years
  1. For 8-year policy term: 5 or 6 years
  1. For 9-year policy term: 5, 6, or 7 years
  1. For 10-year policy term: 5, 6, 7, 8, 9, or 10 years
  1.  For 11-year policy term: 6, 7, 8, 9, 10, or 11 years
  1. For 12-year policy term: 7, 8, 9, 10, 11, or 12 years
  1. For 13-year policy term: 8, 9, 10, 11, 12, or 13 years
  1. For 14-year policy term: 9, 10, 11, 12, 13, or 14 years
  1. For 15-year policy term: 10, 11, 12, 13, 14, or 15 years
  1. For 16-year policy term: 11, 12, 13, 14, or 15 years
  1. For 17-year policy term: 12, 13, 14, or 15 years
  2. For 18-year policy term: 13, 14, or 15 years
  3. For 19-year policy term: 14 or 15 years
  4. For 20-year policy term: 15 years

Pramerica Life Smart Assure

Entry Age:

  1. Minimum: 8 years
  1.   Maximum:

o   For 10-year policy term: 60 years

o   For 12-year policy term: 58 years

o   For 15-year policy term: 55 years

o   For 16-year policy term: 54 years

o   For 18-year policy term: 52 years

o   For 20-year policy term: 50 years

o   For 22-year policy term: 48 years

o   For 24-year policy term: 46 years

Maturity Age:

  1. Minimum: NA
  1. Maximum: 70 years

Policy Term: 10, 12, 15, 16, 18, 20, 22, and 24 years

Sum Assured:

  1. Minimum:

o   Limited Pay: Rs. 75,000

o   Regular Pay: Rs. 1,00,000

  1. Maximum: As per the policy underwriting

Premium Payment Term:

  1.  For 10-year policy term: 5, or 7 years
  1. For 12-year policy term: 5, 7, or 8 years
  1. For 15-year policy term: 5, 7, 8, 10, 12, or 15 years
  1. For 16-year policy term: 5, 7, 8, 10, or 12 years
  1. For 18-year policy term: 5, 7, 8, 10, 12, or 15 years
  1. For 20-year policy term: 5, 7, 8, 10, 12, 15, or 20 years
  2. For 22-year policy term: 5, 7, 8, 10, 12, or 15 years
  3. For 24-year policy term: 5, 7, 8, 10, 12, 15, or 20 years

Premium Payment Frequency: Monthly, semi-annually, and annually

Pramerica Life Flexi Cash

Entry Age:

  1. Minimum: 8 years
  1. Maximum:

o   For 15-year policy term: 60 years

o   For 25-year policy term: 50 years

o   For 35-year policy term: 40 years

Maturity Age:

  1. Minimum: NA
  1. Maximum: 75 years

Policy Term: 15, 25, and 35 years

Sum Assured:

  1. For 15-year Policy Term: Rs. 1,70,000
  1. For 25-year and 35-year Policy Terms: Rs. 2,00,000

Premium Payment Term:

  1. For 15-year policy term: 5 years
  1. For 25-year policy term: 10 years
  1. For 35-year policy term: 15 years

Premium Payment Frequency: Monthly, semi-annually, and annually

Pramerica Life Smart Cash Protect

Entry Age:

  1. Minimum:

o   For 12-year Premium Payment Term: 23 years

o   For 15-year Premium Payment Term: 20 years

o   For 20-year Premium Payment Term: 18 years

  1. Maximum:

o   For 12-year and 15-year Premium Payment Term: 55 years

o   For 20-year Premium Payment Term: 50 years

Policy Term:

  1. For 12-year Premium Payment Term and 70 Years at Age of Entry: 30 to 47 years
  1.  For 15-year Premium Payment Term and 75 Years at Age of Entry: 35 to 55 years
  1. For 20-year Premium Payment Term and 80 years at Age of Entry: 40 to 67 years

Maturity Age:

  1. For 12-year Premium Payment Term: 85 years
  1. For 15-year and 20-year Premium Payment Term: 90 years

Premium Payment Term: 12, 15, and 20 years

Premium Payment Mode: Monthly, semi-annually, and annually

Sum Assured:

  1. Minimum: Rs. 1,25,000
  1. Maximum: As per policy underwriting

Pramerica Life Roz Sanchay

Entry Age:

  1. Minimum: 8 years
  1. Maximum:

o   For 16-year Premium Payment Term: 50 years

o   For 21-year Premium Payment Term: 45 years

Policy Term: 16 and 21 years

Maturity Age: 66 years

Premium Payment Term:

o   For 16-year Premium Payment Term: 12 years

o   For 21-year Premium Payment Term: 16 years

Premium Payment Mode: Monthly, semi-annually, and annually

Sum Assured:

  1. Minimum:

o   For 16-year Premium Payment Term: Rs. 80,000

o   For 21-year Premium Payment Term: Rs. 1,20,00

  1. Maximum: Rs. 5 crore

Pramerica Life Magnum Assure

Entry Age:

  1. Minimum: 18 years
  1. Maximum:

o   For 10-year Premium Payment Term: 55 years

o   For 15-year Premium Payment Term: 50 years

Policy Term: 10 and 15 years

Maturity Age: 65 years

Premium Payment Term: Regular Pay

Premium Payment Mode: Monthly, and annually

Payout Period: 

  1. For 10-year Premium Payment Term: 120 months

For 15-year Premium Payment Term: 180 months

4. Pramerica Life Insurance Child Progress Plans:

There is only one insurance plan under the Pramerica Life Child Progress Plans, which is Pramerica Life Rakshak Smart. Pramerica Life Rakshak Smart is a life insurance plan that offers guaranteed benefits, and you can confidently face life's unpredictability while securing your family's future.

Insurance Plan

Details

Pramerica Life Rakshak Smart

Entry Age:

  1. Life Option: 91 days to 60 years
  1. Enhanced Life Option: 18 years to 50 years

Maturity Age:

  1. Life Option: 18 years to 80 years
  1. Enhanced Life Option: 28 years to 70 years

Policy Term: 10, 12, 15 and 20 years

Premium Payment Term:

o   For 10-year Premium Payment Term: 5 years

o   For 12-year Premium Payment Term: 7 years

o   For 15-year Premium Payment Term: 10 years

o   For 20-year Premium Payment Term: 12 years

Premium Payment Mode: Monthly, semi-annually, and annually

Sum Assured:

  1. Minimum: Rs. 1,20,00
  2. Maximum: As per policy underwriting

5. Pramerica Life Insurance Health Plans:

There is only one insurance plan under the Pramerica Life Health Plans, which is Pramerica Life Cancer + Heart Sheild. Pramerica Life Cancer + Heart Shield offers comprehensive coverage for critical illnesses such as cancer, cardiovascular conditions, and other major diseases. It provides a fixed benefit upon diagnosis of covered conditions. It also allows multiple claims based on the chosen plan option.

Insurance Plan

Details

Pramerica Life Cancer + Heart Shield

Entry Age:

  1. Minimum: 18 years
  1. Maximum: 65 years

Maturity Age:

  1. Minimum: NA
  1. Maximum: NA

Policy Term:

  1. Minimum: 10 years
  1.  Maximum: 40 years

Premium Payment Term: Regular pay, equal to policy terms

Premium Payment Mode: Monthly, semi-annually, and annually

Sum Assured:

  1. Minimum: Rs. 5,00,00
  2. Maximum:

o   Option 1: Rs. 50,00,000

Option 2: Rs. 25,00,000

6. Pramerica Life Insurance Retirement Plans:

There is only one insurance plan under the Pramerica Life Retirement Plans, which is Pramerica Life Wealth + Ace. The Pramerica Life Wealth + Ace is a Unit Linked Non-Participating Individual Savings Life Insurance Plan that helps you reach your financial milestones by offering investment opportunities, ensuring a secure and protected future for your loved ones.

 [DG1]https://pramericalife.in/health-plans/cancer-heart-shield-plan

Insurance Plan

Details

Pramerica Life Wealth + Ace

Entry Age:

  1. Minimum:

o   For 10-year Premium Payment Term: 8 years

o   For 15-year Premium Payment Term: 3 years

o   For 20-year and 25-year Premium Payment Term: 90 days

·         Maximum: 65 years

Maturity Age:

  1. Minimum: NA
  1.  Maximum: 75 years

Policy Term: 10, 15, 20, and 25 years

Premium Payment Term: Single pay

Premium Payment Mode: Single pay

Sum Assured:

  1. Minimum:

o   For Age Less Than 50 Years: Minimum Sum Assured is 1.25 times the Single Premium

o   For Age 50 Years and Above: Minimum Sum Assured is 1.10 times the Single Premium

  1. Maximum: Subject to maximumRs. 10 crore

FAQs on Pramerica Life Insurance

  • How Do I check my policy status?

    You can check your policy status online as long as you have the login and password to your personal account on their website. You need to click on the Policy Details tab, once you are signed to check your status.

  • What are the available modes for payment of premium available for me?
    1. Online or NEFT transfer
    2. Through ECS
    3. Through Cash or cheque at select branch office.
    4. At SBI branches
    5. At Axis branches

    You can also pay through customer helpline options, which allows you to transfer money through telephonic medium or by a credit card.

    Toll free: 1800-102-7070 (Monday-Saturday, 9:00 AM-7:00 PM)

  • How Do I renew my policy with Pramerica Life Insurance?

    For renewing a policy under Pramerica Life Insurance, there are 2 basic options: Maximum: Paying online, Cheque pick up facility

    Use your user id and password and enter the policy number for renewing it. Online payment options with the aid of debit card, credit card and Net banking is available on this site.

    Cheque pick up facility is also available, wherein the company's staff will get the cheque from your doorsteps.

  • How Do I or a nominee settle my claims with Pramerica Life Insurance?

    For settling claim, you need to fill in and submit the mandatory documents as listed in the website for the particular category of claim, as well as with a cancelled cheque along with a passport size photograph.

    Upon receiving all the documents, the company checks to settle the claims within a time frame of 30 days.

  • How Can the Claim Be Settled or at least initiated online?

    Simply, log on to the company's claim page. Here too, you will have to fill up details and the required documents will need to be uploaded.

  • How Do I cancel my policy with Pramerica Life Insurance?

    For cancellation of your existing policy, you have to fill in the surrender form available on their website, and fill it up and dispatch it to the head office. Necessary documents needs to be attached with it such as mentioned in the policy including surrender charges.

    Once everything is received, the policy will be cancelled on records for the holder. However, for new users, a period of 15 days is given, wherein you can surrender the policy, by simply stating the reason for the closure.

  • How well is Pramerica Life Insurance doing when it comes to claim settlements?

    According to our sources the Claim-settlement for Pramerica Life Insurance is at a ratio of 57.2% from April 2014 - March 2015.

  • How is NAV calculated?

    NAV is calculated on all Business Days based on the Authority's guidelines in force from time to time. Based on the current guidelines enforced, NAV is calculated in the following manner as on the company literature: "{Market value of investment held by the fund + value of current assets - (value of current liabilities and provisions, if any)} / Number of units existing on Valuation Date (before creation/redemption of units)".

  • How can I track the status of my Pramerica claim?

    You can track the status of your claim by calling on the claims helpdesk (0124-4697072) between 9:00 am to 6:00 pm from Monday to Friday. You can also send an email to claims@pramerica.com to know the current status of the claim.

  • I have misplaced the policy bond. What should I do?

    In the event the policy bond is misplaced or lost, the claimant will have to provide an indemnity bond (available from company branches) on Rs.100 non-judicial stamp paper.

  • Can I change the nominee on my policy?

    Yes, you can change the nominee on your policy anytime till the maturity date. You will have to inform the company of the change in writing.

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