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Pramerica Life Insurance has a long list of life insurance plans and group insurance products as well for its customers. The company caters to clients from all strata, and thus it provides a set of distinct policies under the following categories.
- Term Plans
- ULIP Plans
- Child Progress Plans
- Health Plans
- Savings Plans
- Group Plans
Pramerica Life Insurance Term Plans
DHFL Pramerica Life Insurance offers 3 term insurance plans as discussed below:
- Pramerica Life Saral Jeevan Bima: Pramerica Life Saral Jeevan Bima is a pure risk plan that provides a lump sum amount in case of unforeseen demise of the life assured during the policy term. This plan lets you ensure that your family is financially protected even in your absence.
- Pramerica Life U-Protect Plan: Pramerica Life U-Protect plan is a pure-term plan, and it provides higher coverage at lower premiums. This plan helps to ensure a financially secure future for your family members in your absence.
- Pramerica Life TruShield Term Plan: Pramerica Life TruShield Term plan provides a special feature of return of premium at the time of maturity in case the life is assured. The policy pays the death benefit in case of the unfortunate death of the policyholder.
Pramerica Life Insurance ULIP Plans
Pramerica DHFL Life Insurance offers 4 ULIP plans which are mentioned below:
- Pramerica Life Wealth Enhancer: The Pramerica Life Wealth Enhancer plan provides wealth addition, wealth boosters, investment strategy choices, death benefits, Maturity benefits, and even Surrender Benefits.
- Pramerica Life Wealth Maximiser: This plan has a maximum policy term of 30 years and a minimum of 5 years. It is a policy designed to provide protection and flexibility.
- Pramerica Life Wealth + Ace: The Pramerica Life Wealth + Ace plan allows you to invest a partial amount through the systematic transfer plan. The policy gives the benefit of sticking with it after 10 years by providing persistence units. On maturity, the fund value, along with the persistence units, are paid to the policyholder. The policy also has a death benefit.
- Pramerica Life Smart Wealth Plus: The maximum term for the policy is 20 years, and the policy pays a loyalty bonus in terms of persistence units in the 10th, 15th, and 20th year do the policy. The maximum age of maturity for the policy is 75 years. It is one of the best options to create wealth in the long term.
Pramerica Life Insurance Child Progress Plan
Pramerica Life Insurance offers 1 child progress plan i.e. Pramerica Life Raksha Gold. The Pramerica Life Raksha Gold plan is a product of the Prahari Initiative where special policies have been designed for the army or defence personnel. The policy has a limited premium payment of 7 or 10 years. The policy has guaranteed annual additions which increase after every third year of the policy.
Pramerica Life Insurance Health Plans
Pramerica Life Insurance offers 1 health insurance plan i.e. Pramerica Life Cancer + Heart Shield. This plan provides financial aid for the treatment of critical illnesses such as Cancer or Heart related medical issues. In case the life assured is diagnosed with any critical illness during the policy term a payment is made to the life assured’s family member for the treatment of the diagnosed illness.
Pramerica Life Insurance Savings Plans
Pramerica Life Insurance offers 7 savings plans which are as mentioned below:
- Pramerica Life Secure Savings Plan: Pramerica Life Secure Savings plan provides guaranteed benefits either on death or maturity. There is an option for an annual payout after the completion of the term.
- Pramerica Life Smart Income: This plan can be used as a security against loans, and it offers flexibility in premium payment options. There is a guaranteed annual payout for a duration equal to the policy term.
- Pramerica Life Smart Assure: The policy provides life cover along with high maturity benefits. The feature of availing loan against this policy is available, and you can choose to pay the premium for a limited period.
- Pramerica Life Flexi Cash: Pramerica Life Flexi Cash is a non-linked participating endowment plan, and it provides 10% of the annual premium from the 2nd year as the loyalty benefits.
- Pramerica Life Smart Cash Protect: Pramerica Life Smart Cash Protect plan has a bonus accrued for 15 years which is paid at the end of the 15th year as a survival benefit. The annual payout is 6% of the sum assured from the 16th year till the end of the policy or death of the policyholder.
- Pramerica Life Roz Sanchay: Under this plan death benefit increases by 5% of the base sum assured annually. The policy has a limited premium payment of 12 or 16 years, and it can be used to take a loan.
- Pramerica Life Magnum Assure: Pramerica Life Magnum Assure is another plan under the Prahari Initiative. The plan provides a guaranteed monthly income for the duration of the pay-out period. The premium paid would be returned as a monthly term more than the amount paid after the completion of the term.
Pramerica Life Insurance Group Plans
Pramerica Life Insurance Group Insurance Plans provide life insurance solutions to corporations for their employees. Below mentioned are 9 group plans offered by Pramerica Life Insurance:
- Pramerica Life Group Covid-19 Shield: Pramerica Life Group Covid-19 Shield is a renewable one-year plan. The plan offers affixed benefits, which cover you during the COVID-19 treatment and the recovery.
- Pramerica Life Group Traditional Employee Benefit Plan: This plan provides financial security to the employees and to provide them with better working conditions. The plan can be used to create a post-retirement benefit for them.
- Pramerica Life Group Health Kavach: Pramerica Life Group Health Kavach plan offers coverage for your employee's health against medical expenses.
- Pramerica Life Group Sampoorna Suraksha: This plan provides comprehensive coverage and financial protection against the risk of death to all your employees covered under this policy.
- Pramerica Life Group Term Care: Pramerica Life Group Term Care is a single premium term plan that provides coverage against death for two years at one payment. It is a low-cost annual renewable group term insurance product specially designed for NGOs and cooperative institutions operating in rural areas and social sectors.
- Pramerica Life Group Term Plan: Pramerica Life Group Term plan supports a one-year renewable policy that covers your employees against the risk of death.
- Pramerica Life Sarv Suraksha: Pramerica Life Sarv Suraksha plan is a yearly renewable micro-insurance group term plan. This is for people operating in the social sector.
- Pramerica Life Group Credit Life+: Pramerica Life Group Credit Life+ plan is a term life insurance (decreasing type). It helps you to secure yourself against the liabilities of loans of your clients.
- Pramerica Life Dengue + Group Shield: The Pramerica Life Dengue + Group Shield plan provides the members of the group financial support during the treatment and recovery process.
Latest News on Pramerica Life Insurance
- In the unfortunate case of the insured's death, life insurance is a contract between a person and an insurance company in which the latter agrees to pay the insured's family a sum assured (death benefit).
- Pramerica Life TruShield plan is a return of premiums term insurance plan. It is a non-participating term insurance plan. This plan provides financial assistance to your family in case an unforeseen event takes place such as your untimely demise during th
What Are The Benefits and Common Exclusions under Unit Linked Insurance Plans offered by Pramerica Life insurance?Pramerica Life Protection's ULIP plans provide life insurance for your family while also providing excellent returns to assist you manage rising expenditures. It also helps you build wealth for your anticipated life milestones. Continue reading to learn a
What Are The Common Exclusions Under Retirement Insurance Plans Offered By Pramerica Life insurance?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,
- Pramerica Life offers four ULIP plans to cater to the needs of a diverse base of investors. These plans come in a variety of premium payment options and can be accessed based on your investing objectives. Continue reading to learn everything there is to k
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Life Insurance News
In the unfortunate case of the insured's death, life insuran...28 December 2021
Pramerica Life TruShield plan is a return of premiums term i...11 September 2021
Pramerica Life Protection's ULIP plans provide life insuranc...21 July 2021
Pramerica Life Insurance Company India is one of most popula...11 July 2021
Pramerica Life offers four ULIP plans to cater to the needs ...10 July 2021
Pramerica Life Insurance User Reviews
Claim Process at Pramerica Life Insurance
Claim IntimationIn the event of the death of the life assured, the insurance company should be intimated as early as possible.
Submission of DocumentsFor easy claim settlement, claim form, original policy document, death certificate and others documents should be submitted on time.
Claim EvaluationAfter successful submission of documents, the insurance company will thoroughly evaluate the claim filed.
Claim SettlementIf claim request is approved, claim is settled within 30 days. In case of additional investigation, claim process may take 120 days.
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FAQ About Pramerica Life Insurance
How is your age significant in the Pramerica Life Insurance premium calculation?
If you are young and you opt to buy a Pramerica Life Insurance Policy, the premium that you would have to pay is low.
What are the premium payment frequencies available for the Pramerica Life Insurance policy?
The options available for the Pramerica Life Insurance Policy are Monthly, Quarterly, Half-Yearly, and Yearly. Whatever you choose is up to you.
What happens to the Pramerica Life Insurance premium amount when the policy elapses?
The premium amount after a Pramerica life insurance policy has lapsed, increases. To revive the policy, the policyholder has to pay all the outstanding premiums which are unpaid along with a predefined interest rate.
What are the details required in the Pramerica Life Insurance premium calculator?
Your date of birth, gender, policy term, and sum assured are the primary details that are required in the Pramerica Life Insurance premium calculator. The secondary details include smoking habits, occupation type, annual salary, and educational background.
Are the details required different for the different Pramerica Life Insurance products?
The information required to be entered is the same. There can be small changes made in the selection of the plan type and the term of policy, which may depend upon the plan selected by you.