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Idbi Federal vs Pramerica Term

Idbi Federal

Ageas Federal Life Insurance (AFLI) is one of India’s prominent life insurance companies that work towards offering best insurance solutions. They are a joint venture between Ageas and Federal Bank.

Pramerica Term

Pramerica Life Insurance offers wide range of solutions to individuals as well as groups. They have PAN India presence with 137 branches.

COMPANY DETAILS

Idbi Federal

Pramerica Term

Rating	Rating 4.6	Rating 4.6
Number of term insurance plans and add-ons	No. of Plans -	No. of Plans -
Annual Premiums Collected (2023-24)	Annual Premiums Collected (2023-24) 2289 Cr	Annual Premiums Collected (2023-24) 1495.39 Cr
Payout Options	Payout Options Lump sum, monthly or a combination of both	Payout Options Lump sum, monthly, or a combination of both
Claim ratio	Payout Options 96.06%	Payout Options 98.8%
Solvency Ratio	Solvency Ratio 3.1	Solvency Ratio 4.1
Pan India Presence	Pan India Presence 3,200	Pan India Presence 131
Riders Available	Riders Available Critical Shield Rider, Accident Care Rider	Riders Available Accidental Death Benefit Rider, Accidental and Total Permanent Disability Rider, Critical Illness Rider, Waiver of Premium Rider
Policy Term	Policy Term 10 to 75 years	Policy Term 10 to 30 years

Know More About Companies

Overview

Ageas Federal Term Insurance: Overview

Ageas Federal Term Insurance plans help you secure your family and offer financial security in case of your untimely demise. Ageas Federal Life Insurance offers 4 term insurance plans to suit your different needs: Termsurance Life Protection, Income Protect, Saral Jeevan Bima, and iSecure Plan. The Ageas Federal term plan offers key features such as the return of premium, income options in case of death, additional discounts, and tax benefits (T&Cs apply).

What are some of the
Benefits
that set them apart?

Get your money back,
Avail high sum assured discount,
Get life cover at affordable premiums,
Tax benefits under section 80C or 10 (10D),

Special premium rates for women,
Increased sum assured option,
Monthly income benefit,
Optional accidental death benefit, etc.

Riders

Riders You Can Avail With Pramerica term insurance Plans

Name of the Riders	Benefits
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 with immediate effect.
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 the 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	IUnder 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 then all the future premiums of the ongoing term plan will waived off with immediate effect.

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