Pramerica Term vs Acko Term Insurance

  • Multiple policy tenure to choose from
  • Premiums starting @Rs 15/day
  • 30-day grace period
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Pramerica Term vs Acko Term Insurance

Pramerica Term

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

Acko Term Insurance

Acko Insurance is a private sector general insurance company in India. Founded in November 2016, the company received its license from the Insurance Regulatory and Development Authority of India in September 2017

COMPANY DETAILS Edit Pramerica Life Term Insurance

Pramerica Term

 Edit Acko Term Insurance

Acko Term Insurance
Rating
Number of term insurance plans and add-ons
Annual Premiums Collected (2024-25)

Annual Premiums Collected (2024-25)

919.38 crores

Annual Premiums Collected (2024-25)

₹64.05 crore
Payout Options

Payout Options

Lump sum, monthly, or a combination of both

Payout Options

Lump-Sum Payment, Fixed Monthly Payout, Increasing Monthly Payout and Lump Sum + Monthly Income
Claim ratio

Payout Options

99.18%%

Payout Options

99.38%%
Solvency Ratio

Solvency Ratio

2.62

Solvency Ratio

1.96
Pan India Presence

Pan India Presence

134

Pan India Presence

-
Riders Available

Riders Available

Accelerated Benefit Rider, Waiver of Premium Rider, Children& 039;s Term Insurance Rider, Return of Premium Rider, Accidental Death Benefit Rider, Accidental Total and Permanent Disability Rider

Riders Available

Accidental Death Benefit, Accidental Total & Permanent Disability, Critical Illness Benefit
Policy Term

Policy Term

10 to 30 years

Policy Term

5 to 40 years
Inception year

Inception year

2008

Inception year

2016
Complaint ratio per ₹1 crore of premium collected

Complaint ratio per ₹1 crore of premium collected

0.039

Complaint ratio per ₹1 crore of premium collected

-
Average claim settlement time

Average claim settlement time

15 days

Average claim settlement time

15 days
IRDAI registration number

IRDAI registration number

140

IRDAI registration number

164
Awards and recognitions

Awards and recognitions

Red Hat Innovation Award, SKOCH Awards for tech & CSR, Economic Times Sales Championship, and recognition for its high Claim Settlement Ratio (CSR)

Awards and recognitions

FICCI "Most Innovative Insurer", Golden Peacock Awards for product innovation, and multiple Effie India Awards
Recommended Videos
Pramerica Term Insurance Plans Overview

Pramerica Term Insurance Plans Overview

Know More About Companies

Overview

Pramerica Term Insurance: Overview

Pramerica Life, established in year 2008 offers a vast range of insurance products to their customers. One such product is Pramerica Term Insurance. It offers high coverage at an affordable premium by ensuring that your family is financially protected by offering a lump sum payout in the event of death during the policy term.

What are some of the
Benefits
that set them apart?

  • Attractive premiums

  • Flexible premium payment option

  • Critical illness cover

  • Accidental death benefit

  • Premium waiver option

  • Long-term protection

  • Tax benefits

  • Additional rider to enhance protection

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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Acko Term Insurance

Explore India’s best-selling Term insurance plans below

Acko Insurance is a private sector general insurance company in India. Founded in November 2016, the company received its license from the Insurance Regulatory and Development Authority of India in September 2017

Acko Life Flexi Term

Acko Life Flexi Term

Flexi Term Plan by Acko Life Insurance is a flexible term insurance plan that offers financial benefits to your family in case of your uncertain death...

Unique Features

  • Will Creation Services
  • Flexi Benefit
  • Optional Riders

Acko Life Flexi Term (Pros)

Acko Life Flexi Term

Acko Life Flexi Term (Cons)

Acko Life Flexi Term

Acko Life Flexi Term (Other Benefits)

Acko Life Flexi Term

Acko Life Flexi Term (Eligibility Criteria)

Acko Life Flexi Term

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Naval Goel

Reviewed By: Naval Goel

Naval Goel is the CEO & founder of PolicyX.com. Naval has an expertise in the insurance sector and has professional experience of more than a decade in the Industry and has worked in companies like AIG, New York doing valuation of insurance subsidiaries. He is also an Associate Member of the Indian Institute of Insurance, Pune. He has been authorized by IRDAI to act as a Principal Officer of PolicyX.com Insurance Web Aggregator.

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