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What Are The Common Exclusions Under Retirement Insurance Plans Offered By Pramerica Life insurance?

Updated On Jul 11, 2021

Pramerica Life Insurance Company India is one of most popular insurance companies in India which caters you with a plethora of life insurance policies according to your investment cum savings plan needs. It includes life insurance plans, protection plans, retirement plans, term insurance plans, child plans, etc. Here we would be talking specifically about the common exclusions under the retirement insurance plans offered by Pramerica Life Insurance.

Before that, one should know that, Policy exclusions are events or conditions that, if they result in the death of the policyholder, are not covered by a Life Insurance policy. Consider the following example: Assume someone buys a life insurance policy and then commits suicide. In this situation, the amount insured in the Life Insurance policy will be transferred to the nominee following the death of the policyholder, according to the terms of the policy. 

What Are The Common Exclusions Under Retirement Insurance Plans Offered By Pramerica Life insurance? 

Insurance firms, too, want to make a profit and can't keep supporting people who take risks and embark on excursions that they know can be fatal for them. This is clearly stated in the company's brochure, but the inclusions are sometimes so appealing that investors overlook the exclusions. Continue reading to learn about the most typical exclusions in Pramerica Life Insurance.

  • Homicidal or Suicidal Acts

If the insured individual commits suicide within one year of the policy's inception, the policy's protective cover will be immediately terminated. When the insurance ends, the company is merely obligated to pay the policyholder's premium (s). The insurance company no longer pays interest and takes a cut of any expenses incurred by them.

  • Indulging Into Risky Adventure Sports

Retired individuals frequently take weekends away to mountainside journeys to enjoy their retirement savings and post retirement days, during which they try thrilling rides such as paragliding, hill climbing, bungee jumping, and so on, which may not be age - appropriate or suitable according to their medical problems and complications, and if it results in a deadly accident, no financial gains will be paid because they were already aware of the difficulties it could cause.

  • Overdose of Medicines/ Drug Abuse

Numerous claims for pension payments in cases of drug-related deaths have been rejected by the corporations. In this sense, drug abuse refers to taking more medications than recommended by a doctor, which might result in death or disease, among other things. Individuals may argue that this was the result of old age, but insurance companies may deny this claim. Similarly, mortality from an alcohol overdose, for instance, is included in the subtotal but will not be covered.

  • Risky Lifestyle

You would be queried about your nicotine and alcohol consumption before signing up for cover. According to insurance companies, people who smoke are far more likely to die than nonsmokers. To summarise, smokers are far more likely to file a Life Insurance claim than nonsmokers. As a consequence, they can demand smokers higher amounts than nonsmokers and even deny claims if you suffer as a result of smoking.

  • Natural Calamities

Natural catastrophes are beyond anyone's command, and it is evident that a large number of people are impacted, and the company cannot recompense everyone; as a result, natural disasters are generally deemed an Act of God and are exempt from insurance exclusions. This includes natural disasters such as floods and tidal waves.


Prior to actually purchasing a Life Insurance policy, it is significant to review the terms of agreement of the contracts and insurance policies. As a result of your premature death, your family may incur severe financial loss. A denied wrongful death case, on the other hand, can be devastating. Examining the terms and conditions may necessitate more effort than usual. Nonetheless, it is essential to comprehend what your insurance covers and does not cover.

Also read 

Key Retirement-Planning Steps Everyone Should Take

Retirement Planning: How To Prepare For Retirement?

Disclaimer: This article is issued in the general public interest and meant for general information purposes only. Readers are advised not to rely on the contents of the article as conclusive in nature and should research further or consult an expert in this regard.                     

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