Pramerica Life Insurance offers a wide variety of term insurance plans to suit your individual needs. They provide a wide range of life insurance solutions for individuals and groups, taking care of various aspects of financial protection required.
Since its inception in 2008 Pramerica Insurance Company has leaped towards immense growth with an extensive distribution network, customer support, and impressive annual premium. Pramerica life has a network of 133 branches across India providing individuals with all kinds of insurance needs.
Pramerica Life Term Insurance Plans offer High sum assured, and low premium rates, and customers can customize their plan based on their needs.
Awards and Achievements
The company was awarded with the "Pride of the Nation" award from Union Home Minister Shri Rajnath Singh on 16th December 2018 in New Delhi.
Pramerica Life Insurance was adjudged winner for the Sales Championship in the Life Insurance category at the 5th Annual Economic Times Insurance Summit 2018.
SKOCH Consultancy honored Pramerica Life Insurance Limited with SKOCH Order-of-Merit in the two categories namely Corporate Social Responsibility initiative (Behtar India) and Group and Partnership distribution.
Pramerica Life Insurance Limited received Golden Star Awards in two categories namely Corporate Social Responsibility initiative(Behtar India) and Claims Service of the year.
The company received 'National Award for Marketing Excellence by Times Network Group in 2018.
In 2016, Pramerica achieved the 'Website of the Year title for being the most popular & best website of the year in the insurance category.
Key Features of Pramerica Life Insurance
Pramerica Life Insurance is a versatile insurance provider with plans for each and every societal stratum. Pramerica Life Insurance has many plans for single individuals, married couples, couples with young children, and individuals with dependents such as parents, spouses, children, etc. To help you understand better how Pramerica Life Insurance is one of the best brands we have listed some features of Pramerica Life that will highlight the benefits offered by the company.
Solvency Ratio The solvency ratio of the company helps an individual ascertain the company's ability to meet its long-term financial obligations. The Solvency Ratio of Pramerica Life Insurance company for 2021-22 is 4.0. (As per the IRDAI, it is mandatory for every life insurer to maintain a solvency ratio of 1.5).
Claim Settlement Ratio The company holds a good and reliable claim-settling process with a CSR of 98.3%. (CSR as per IRDAI report of the year 2021-22). Pramerica Life Insurance holds one of the highest claims settlement ratios amongst all the insurance companies.
Annual Premium As per the IRDAI report 2021-22, Pramerica Life Insurance recorded an annual premium of Rs. 1,098.78 Crores.
PAN India Presence Pramerica Life Insurance Company has 100+ branches across India and additional distribution touch-points through several new tie-ups and partnerships. Apart from its PAN India presence, it has consultants that will guide you through its wide array of products and help you pick what is right for you.
Looking to buy Life Insurance? Find complete details in one go!
Pramerica Life Insurance is amongst the most trust worthy insurance providers in the country offering a wide range of plans with multiple benefits in store for its customers. We have listed a few of these below
Economical Plans: Pramerica Life Plan provides you with comprehensive cover and financial security for your family.
Riders: The plans are customizable in a way that adding riders to your plan will provide you with enhanced coverage.
Flexible Premium Payment Options: Pramerica Insurance offers flexible premium payment options, available in all of their insurance products including term plans like one time or for a limited period.
Tax Benefits: Tax Benefits can be availed for premium payments of Pramerica Life Insurance Plans under sections 80C and 10 (10D) of the income tax act 1961.
Attractive Premiums: Insurance Plans offered by Pramerica Life have impressive premium rates for males and females, especially for people with a healthy lifestyle and who are non-smokers.
Maturity Benefit: Pramerica offers you all your premiums paid, back on survival till the completion of your policy.
Pramerica Life Insurance Plans
Pramerica Life Insurance comes with several plans to serve the different requirements of its customers. Pramerica Life Insurance Company offers a plethora of insurance plans that allow customers to choose their ideal plan as per their and their family's requirements. The company ensures to offer a plan for everyone.
Pramerica Protection Plans
You are your family's pillar of strength as you ensure their comfort and well-being and Pramerica Life Term Plans are the perfect pure protection plans that safeguard your family's future in case of your unfortunate demise.
Plan
Entry Age
Tenure
Minimum Sum Assured
Pramerica Life Saral Jeevan Bima
Minimum Age: - 18 years Maximum Age: - 65 years
5 to 40 years
Rs. 5,00,000
Pramerica Life TruShield
Minimum Age: - 18 years Maximum Age: - 55 years
7 to 20 years
Rs. 5,00,000
Pramerica Life U-Protect
Minimum Age: - 18 years Maximum Age: - 55 years
10 to 30 years
Rs. 25,00,000
Pramerica ULIP Plans
Pramerica Life Insurance offers a multitude of investment plans that are designed specifically to help you reach your financial goals without compromising on your present lifestyle.
Plan
Entry Age
Tenure
Minimum Sum Assured
Pramerica Life Wealth Enhancer
Minimum Age: - 1 year Maximum Age: - 70 years
5 to 20 years
1.25 x Single Premium
Pramerica Life Wealth Maximiser
Minimum Age: - 90 days Maximum Age: - 65 years
5 to 30 years
1.25 x Single Premium
Pramerica Life Wealth + Ace
Minimum Age: - 90 days Maximum Age: - 8 years
10/15/20/25 years
1.25 x Single Premium
Pramerica Life Smart Wealth+
Minimum Age: - 8 years Maximum Age: - 55 years
20 years
Based on premium
Pramerica Savings Plan
Pramerica Life Insurance is designed to enable disciplined savings while delivering steady returns that help you achieve your financial goals.
Plan
Entry Age
Tenure
Minimum Sum Assured
Pramerica Life Guaranteed Return on Wealth
Minimum Age: - 91 days Maximum Age: - 60 years
15 to 42 years
(Income Period) 10/15/20/25 years
Pramerica Life Secure Savings Plan
Minimum Age: - 5 years Maximum Age: - 60 years
13 years
Rs. 25,000
Pramerica Life Smart Income
Minimum Age: - 8 years Maximum Age: - 60 years
7 to 20 years
Rs. 17,142
Pramerica Life Smart Assure
Minimum Age: - 8 years Maximum Age: - 60 years
10 to 24 years
Rs. 75,000
Pramerica Life Flexi Cash
Minimum Age: - 8 years Maximum Age: - 60 years
15 to 35 years
Rs. 1,70,000
Pramerica Life Smart Cash Protect
Minimum Age: - 18 years Maximum Age: - 55 years
30 to 67 years
Rs. 1,25,000
Pramerica Life Roz Sanchay
Minimum Age: - 8 years Maximum Age: - 50 years
16 to 21 years
Rs. 80,000
Pramerica Life Magnum Assure
Minimum Age: - 18 years Maximum Age: - 55 years
10 or 15 years
Rs. 48,000 (Annual Premium)
Pramerica Child Plan
Pramerica Life offers various child plans that aid you in the financial planning of your child and help you fulfill all their financial needs even in case of your unfortunate demise.
Plan
Entry Age
Tenure
Minimum Sum Assured
Pramerica Life Rakshak Smart
Minimum Age: - 91 days Maximum Age: - 60 years
12/15/20 years
Rs. 1,50,000
Pramerica Retirement Plan
Retirement planning is an investment that will help you in living your second innings without any financial crunch. Pramerica Life offers unique retirement plans to fulfill financial needs post retirement.
Plan
Entry Age
Annuity Mode
Minimum Annuity
Pramerica Life Saral Pension
Minimum Age: - 40 years Maximum Age: - 80 years
Yearly/Quarterly/Half-yearly/Monthly
Rs. 1,000
How To Buy Pramerica Life Insurance?
Pramerica Life Insurance allows you to buy life insurance plans via two platforms. You can either buy the plan online from the official website of the company or through third-party intermediaries like agents, brokers, etc. Given below is a detailed explanation of both these types of buying processes.
Steps to buy from PolicyX.com
Fill out the form given at the top of this page with the necessary details.
Select your income and city. Click on 'Proceed'.
Update your education and occupation details.
Choose your preferred plan and click on 'Buy this plan'.
Select policy term, premium period, and riders (if required) and then proceed to do the payment.
**Once the payment is made, you will get a payment confirmation at your registered email address.
Steps to buy from Pramerica Life Insurance company
Visit the official website of Pramerica Life Insurance Company.
Click on the category of plans you want to purchase on the navigation bar.
Click on the buy now button and fill in the required details.
Tap on 'next' and select a plan as per your requirements.
Select the cover option you want and make your payment.
**Once the payment is made, you will get a payment confirmation at your registered email address.
How to File Pramerica Term Insurance Claims?
Filing a claim for Pramerica Life Insurance Plan is a simple and hassle-free task. You can easily fill and submit their claims online or offline. To file a claim for Pramerica Life Insurance Plan, you need to follow the below-mentioned steps.
Claim Intimation
Inform the company about the incident via various channels- by writing an email to claims@pramericalife.in, calling on the toll-free number- (1800-102-7070), or visiting the official website of Pramerica Life Insurance and filling the online claim form on its website, or by visiting the nearest branch. The following details have to be provided during the intimation of your claim:
Date of death/Critical Illness
Policy Number
Name of the policyholder
Name of the nominee
Phone number
Email ID
City
State
Address
A claim reference number/intimation number will be provided to you upon successful registration of the claim.
Document Submission
Submit the necessary documents requested by the company to process the claim. In the case of natural death-
Death claim form.
Death certificate.
Original policy documents.
Claimant's identity & residence Proof.
Medical records at the time of death & past illnesses.
Account details of the nominee
In the case of unnatural death (Accidental death/Murder/Suicide)-
Death claim form.
Death certificate.
Original policy documents.
Claimant's identity & residence proof.
FIR, police inquest report & panchanama.
Post mortem report.
Account details of the nominee.
Claim Settlement
After receiving all the documents and claim forms, the company will verify the details as per their norms. On successful completion, the claim will be settled and the amount will be transferred to the nominee's bank account and the same will be communicated to him/her over call or email.
How to Contact Pramerica Life Insurance Company?
Pramerica Life Insurance Limited, 4th Floor, Building No. 9 B, Cyber City, DLF City Phase III, Gurgaon-122002
contactus@pramericalife.in
1800-102-7070 (9:30 am to 6:30 pm IST) 1800-102-7986
Pramerica Life Insurance: FAQs
1. How can I check the status of my life insurance?
You can track your application on the official website of Pramerica Life Insurance or you can call on the toll-free number 1800-102-7070.
2. How can I cancel my Pramerica Life Insurance?
The Pramerica life insurance plan can be canceled by the policyholder at any point of time after the policy start date by writing to the insurance company and filling out the cancellation form. If the policy is to be canceled within the free look period, it can be done without any premium deduction by the insurance company.
3. What are the available payment modes for Pramerica Life Insurance?
You can pay the premiums of your Pramerica Life Insurance through various modes such as
Online or NEFT transfer
Through ECS
Through Cash or cheque at the select branch office.
At SBI branches
At Axis branches
4. How can I renew my Pramerica Life Insurance?
You can renew your Pramerica Life Insurance Policy online through the official website by entering your login credentials, enter the policy number for renewing it. Online payment options with the aid of debit card, credit card, and Net banking are available on this site.
5. 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 the 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)".
6. How can I check the status of my Pramerica Life insurance policy?
In case of any query related to your policy, you can call on the company's toll-free number i.e. 1800-102-7070. You can also give a missed call on 1800-102-7986 from 09:30 a.m. to 06:30 p.m. from Monday to Saturday following which you will get a call back from an executive.
7. Can I avail loan under my Pramerica Life Magnum Assure?
To overcome any medical emergency, a policyholder is eligible to avail the loan against his/her policy, which is available after the policy acquires a surrender value of up to 80%.
8. What happens if I am unable to pay the premium of Pramerica Life Insurance?
If the policyholder is unable to pay the premium for at least the first two consecutive policy years, the policy will get lapsed. However, one can revive his/her lapsed policy within five years from the date of the first unpaid premium.
9. Is it possible to change details after buying the policy?
Yes, you can modify the policy details after making the purchase. The following options are available-
Download the Policy Amendment Form A form from the Download section of the company website and fill it.
Call the customer service helpline numbers mentioned in the Contact Us section of the website.
Or write to the corporate address mentioned in the Contact Us section of the website.
10. Can I withdraw funds from my Pramerica Life Wealth Maximiser plan to make partial withdrawals?
Yes, once you complete the Lock-in-Period of 5 years, you are eligible to partially withdraw your funds.
11. Where can I get the claim form?
You can download the claim form from the 'Claims' section of the website.
Visit the nearest Pramerica Life branch.
Talk to your Pramerica Life Insurance representative.
12. What are the premium payment modes offered by Pramerica life insurance limited?
Following are the modes for the payment offered by Pramerica Life Insurance Limited:
Online or NEFT transfer
ECS
Cash or cheque at the nearest branch office of Pramerica Insurance.
At SBI branches
At Axis branches
You can also use the customer helpline options, which allow you to transfer money through the telephonic medium or by a credit card.
I am very grateful to the insurance experts of PolicyX and Mr. Ankur, who kindly helped me settle the claim of Aegon Life Insurance. Thanks again, I& 039;ll always remember this favor.
Prerna Negi
Chennai
April 8, 2024
I bought a Bajaj Allianz Life Insurance through PolicyX, and I must say the level of communication and assistance I have received has been truly impressive.
Preety Kamat
Bhopal
April 8, 2024
Got ICICI Pru iProtect Smart term insurance plan via PolicyX; so far, I& 039;ve hassle-free renewal service and have not faced any kind of nuisance.
Sahani Kaur
Gandhinagar
April 8, 2024
The PNB MetLife Mera Term Plan Plus I& 039;ve bought it at a low premium, and it is fully satisfactory to me. The insurance expert of PolicyX is too polite, and their online buying facility red...
Sneha Nath
Mumbai
March 28, 2024
I would like to inform you that my maturity claims have been settled by SBI Life Insurance on 04.15.2024 and thanks all of you for helping me throughout the claim process.
Khushi Kaur
Chennai
March 28, 2024
I& 039;m writing this review to let you all know that I& 039;m very satisfied because I got my kotak mahindra life insurance policy today as a result of your team effort.
kartik saxena
Goa
March 18, 2024
I had to add some riders to my Sbi life insurance, policy.com team helps to me to understand which rider is more important and which is not. Resulting helps me to save lots of money. Happy with...
Anoop srivastva
Gandhinagar
March 18, 2024
No hidden fees or charges! I have some doubts regarding my PNB MetLife insurance premiums. So I decided to visit policyx.com. Within in couple of minutes, they resolved all of my queries. I am ...
