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Pramerica Life Insurance
Pramerica Life Insurance
Pramerica Life Insurance offers a wide variety of term insurance plans to suit your individual needs. They provide a ...Read More
What you get with Pramerica Life Insurance
The headline features and policy mechanics, at a glance.
Annual Premium 2074.43 crores
Affordable premium options starting from entry-level to comprehensive whole-life protection.
99.18% claim settlement ratio
Industry-leading approval rate on eligible life insurance claims in the most recent fiscal year.
2.33x solvency ratio
Well above IRDAI's 1.5× floor — strong indicator of long-term claim-paying ability.
4+ optional riders
Extend a base policy with add-on covers — critical illness, accidental death, waiver of premium and more.
134 pan-India presence
Branch offices and claim service centres across India for easy policy servicing.
Pramerica Life Insurance
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. Since its inception in 2008, Pramerica Insurance Company has achieved immense growth with an extensive distribution network, customer support, and impressive annual premiums. 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 plans based on their needs.
Pramerica Life Insurance Company ensures to look after your insurance needs by offering:
- Economical Plans
- Riders Benefit
- Flexible Premium Payment Options
- Affordable Premiums
Features of Pramerica Life Insurance
Solvency Ratio:
The company's solvency ratio helps an individual ascertain its ability to meet its long-term financial obligations. The Solvency Ratio of Pramerica Life Insurance Company for 2022-23 is 4.1. (As per IRDAI regulations, every life insurer must maintain a solvency ratio of 1.5).
Claim Settlement Ratio:
The company maintains a strong and reliable claim settlement process with a CSR of 98.8% (as per the IRDAI report for 2022-23). Pramerica Life Insurance holds one of the highest claim settlement ratios among insurance companies.
Annual Premiums:
As per the IRDAI report for 2022-23, Pramerica Life Insurance recorded an annual premium of Rs. 1495.39 crores.
Pan-India Presence:
Pramerica Life Insurance Company has over 100 branches across India, along with additional distribution touchpoints through various new tie-ups and partnerships. Its consultants are available to guide you through its wide array of products and help you choose the right one.
Benefits of Pramerica Life Insurance Plans
There are multiple benefits of Pramerica Life Insurance Plans. Read below to understand the plethora of advantages provided by the insurer.
Maturity Benefit
If the life insured survives the entire policy term, Pramerica Life Insurance pays the maturity benefit as per the plan.
Tax Benefit
All premiums paid for Pramerica Life Insurance can be used for claiming tax benefits as per the Income Tax Act, 1961.
Death Benefit
Upon the unforeseen death of the life insured during the policy tenure, Pramerica Life Insurance pays the death benefit as the highest of the following: 10 times the annual premium, the sum assured, or 105% of the total premiums paid.
Riders You Can Avail With Pramerica Life Insurance Plans
Enhance your life plan with optional add-on riders for broader protection.
Pramerica Life Accidental Death Benefit Rider
Under this rider, if the policyholder dies after 180 days of the occurrence of the accident, an additional benefit equal to the rider sum assured will be payable to the nominee immediately.
Pramerica Term Accidental and Total Permanent Disability Rider
Under this rider, upon the policyholder's disability due to an accident, a rider sum assured will be paid for treatment and managing monthly expenses.
Pramerica Term Critical Illness Rider
Under this rider, if the policyholder is diagnosed with any of the listed 36 critical illnesses, a rider sum assured will be paid to the nominee.
Pramerica Term Waiver of Premium Rider
Under Pramerica's Life Waiver of Premium Rider, if the policyholder is diagnosed with any of the listed 40 critical illnesses or is fully disabled due to an accident, all future premiums of the ongoing term plan will be waived off immediately.
Documents required
For policy purchase and claim submission. Have these ready before you start.
Photo ID Proof
Photo ID Proof (any one of the following): Passport, Aadhaar card, PAN card, Driving Licence.
Age Proof
Age Proof (any one of the following): Passport, Aadhaar card, PAN card, Driving Licence.
Address Proof
Address Proof (any one of the following): Utility bill, Passport, Voter ID, Ration Card.
Medical Records
Medical records of the policyholder (if requested).
Income Proof
Income Proof (any one of the following): Bank statement, last three months' salary slips (for salaried individuals).
How to Buy a Pramerica Life Insurance Plan?
Step-by-step guides for the four key moments in your policy lifecycle. Click a tab to switch.
- Visit the PolicyX.com website or the Pramerica Life Insurance official website to compare and choose a suitable life plan.
- Enter your personal details such as name, date of birth, gender, annual income, and smoking status to get a customised quote.
- Compare plan options — choose your sum assured, policy term, premium payment term, and any optional riders.
- Fill in the proposal form with your contact details, nominee information, and medical history accurately.
- Upload the required documents: identity proof, address proof, income proof, and recent photographs.
- Pay the first premium online via net banking, UPI, debit/credit card, or cheque.
- Complete the medical examination if required (depends on your age and sum assured).
- Receive your policy document via email and registered post after underwriting approval.
How to File Pramerica Life Insurance Claims?
Every claimant/nominee is assigned a dedicated Claims Relationship Officer who assists throughout the entire process. The life insurance claim settlement process at Pramerica Life Insurance involves the following three steps:
Online Process
1. Claim Intimation
Inform the company about the incident via various channels: either by writing an email to [email protected], calling the toll-free number (1800-103-7766), filling out the online claim form on its website, or visiting the nearest branch. A claim reference number/intimation number will be provided to you upon successful registration of the claim.
2. Document Submission
You have to submit the necessary documents requested by the insurer to process the claim.
In case of natural death:Death claim form, Death certificate, Original policy document, Claimant's identity and residence proof, Medical records, Account details of nominee.
In case of Accidental Death:The same documents, along with FIR and post-mortem report.
3. Claim Settlement
After receiving all the documents and claim forms, the insurer will verify the details as per its norms. If any additional details are required, they will contact you via call or email. On successful completion, the claim will be settled, and the amount will be transferred to the nominee's bank account. This will be communicated to the nominee over a call or an email.
Offline Process
Pramerica Life Insurance claim settlement procedure can be reported by visiting the local Pramerica Life Branch Office. For details of Pramerica Life Insurance branches, you can visit their website and locate the nearest branch. You have to submit the essential documents at the branch so that your claim can be processed.
- Log in to the Pramerica Life Insurance customer portal or the PolicyX.com dashboard before your policy renewal date.
- Review your existing policy details — coverage, premium amount, and nominee information.
- Choose to continue with the same plan or upgrade your sum assured if eligible.
- Pay the renewal premium online via net banking, UPI, debit/credit card, or cheque.
- Download the renewed policy document from your registered email or the insurer portal.
- Step 1: Visit the Pramerica Life Insurance Company official website and scroll down to the end of the page. Step 2: Click on the "Buy Online" tab under Popular Links.
- Step 3: Click on the "Know More" tab. Step 4: Click on the "Calculate" tab at the top right corner of the page. Step 5: Fill in the required details and click on the "Calculate" tab to view your premium.
What's covered — and what's not
The standard inclusions and exclusions across Pramerica Life Insurance plans. Specific plans may add benefits — always check the policy wording before purchase.
✗ Exclusions
- Death due to a pandemic such as COVID-19 or Ebola will not be covered by the company.
- Death due to indulging in any adventure sports.
- Death due to consumption of drugs or alcohol.
- Death due to any pre-existing disease not disclosed at the policy's inception.
- If a policyholder commits suicide during the first 12 months after obtaining the insurance, the nominee receives no death benefit. They receive only the premiums paid up to the incident date or the policy's surrender value, whichever is greater.
Conclusion
Pramerica Life Insurance offers a range of life insurance products that cater to various needs, including protection, savings, and wealth-building goals. With options like term plans, endowment plans, ULIPs (Unit Linked Insurance Plans), and child plans, Pramerica aims to provide customers with financial security and peace of mind at different stages of life. You can contact PolicyX.com at the toll-free number 1800-4200-269 or email us at [email protected].
Why Choose PolicyX.com?
Don't just take our word for it — check out what our happy customers say about us!
All my claims were rejected for 3 years. Then, I received a text from PolicyX team, who noticed that my claims hadn't been settled. They managed to get my claims settled, totalling ₹4.5 L. I really appreciate the efforts of the PolicyX advisors for their support in settling my claims.
Ravindra SinghI highly appreciate the help of the PolicyX team for settling my claim of Rs. 5 Lakhs with zero deductions. I took a policy online from them in March 2024. As a customer, it's been a great experience throughout the process.
Priti VarshneyI'm very satisfied because my claim of over ₹2 L has been settled as a result of your team effort. However, I was very upset with the insurer, who delayed the claim for almost 2 months. But with your support and interaction, the claim was settled within 30 days & I appreciate it a lot.
Nisha MaryI bought my health policy from PolicyX, and so far, it's been a very pleasant experience with the team. I really appreciate the help for renewing my health policy. I look forward to continuing my relationship with PolicyX and recommend it to everyone.
Ajay ShahPolicyX has been a savior during a medical emergency in my family recently. My wife was admitted in the hospital, and the insurance company declined my claim request. The PolicyX team handled the situation very well and I received the claim right on time.
Vijay RathodI purchased a health plan for the very first time and the support by PolicyX is commendable. They helped me with the paperwork, explained the policy details to me with patience and supported me at every step of policy buying. A big thanks to you guys.
Uma MahajanFrequently asked questions
The 16 most-asked questions about Pramerica Life Insurance, answered.
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