Pramerica Term vs Birla Sun Life

COMPANY DETAILS

Pramerica Term

Birla Sun Life

Rating	Rating 4.6	Rating 4.6
Number of term insurance plans and add-ons	No. of Plans -	No. of Plans 5
Annual Premiums Collected (2024-25)	Annual Premiums Collected (2024-25) 2074.43 crores	Annual Premiums Collected (2024-25) Rs 20638.77 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 99.18%%	Payout Options 98.65%
Solvency Ratio	Solvency Ratio 2.33	Solvency Ratio 1.88
Pan India Presence	Pan India Presence 134	Pan India Presence 1048+
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 Comprehensive Critical Illness Rider, Waiver of Premium Rider, Accidental Death and Disability Rider, Critical Illness Rider, Accidental Death Benefit Rider Plus
Policy Term	Policy Term 10 to 30 years	Policy Term 10 to 55 years
Inception year	Inception year 2008	Inception year 2000
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 0.022
Average claim settlement time	Average claim settlement time 15 days	Average claim settlement time 24 working hours
IRDAI registration number	IRDAI registration number 140	IRDAI registration number 109
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 Domestic Life Insurer of the Year, Quality Enterprise Leadership, Best Fraud Intelligence Company of the Year
Recommended Videos	Pramerica Term Insurance Plans Overview

Overview

Pramerica Term Insurance: Overview

Pramerica Life Insurance offers high life cover at affordable premiums, simple plan structures, flexible policy options, and strong financial protection for families.

Pramerica Life, established in 2008, offers a vast range of insurance products to its 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 the
key features
of this plan?

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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Aditya Birla Term Insurance

Explore India’s best-selling Term insurance plans below

Birla Sunlife or ABSLI is a part of Aditya Birla Capital. ABSLI is a 51:49 a joint venture between the Aditya Birla Group and Sun Life Financial.

Aditya Birla Life Shield Plan

Aditya Birla Sun Life Shield Plan is an online term insurance policy designed to provide comprehensive protection with its 8 plan options. The plan al...

Unique Features

Avail 8 Plan Options
Flexible-Premium Payment
Cover for Spouse

Aditya Birla Life Shield Plan (Pros)

105% of total death benefit
Tax benefits as per law
Return of premium

Aditya Birla Life Shield Plan (Cons)

No policy loan
No critical illness
no tax benefit

Aditya Birla Life Shield Plan (Other Benefits)

Suicide Cover After 12 Months
Discount for Non-Smokers
5% online discount

Aditya Birla Life Shield Plan (Eligibility Criteria)

Min entry age-1 years
Max entry age-65 years
Min. sum assured-25 Lac
Max. sum assured- No limit
Premium payment term-Regular/limited

ABSLI Poorna Suruksha Kawach

ABSLI Poorna Suraksha Kawach is an insurance plan with return of premium and life cover benefit. It also provides an early return of premium option to...

Unique Features

6 Plan option
Increasing or decreasing SA benefit
Special exit value

ABSLI Poorna Suruksha Kawach (Pros)

Death benefit
Return of Premium
Critical illness benefit

ABSLI Poorna Suruksha Kawach (Cons)

No Policy Loan
No investment option
No terminal illness benefit

ABSLI Poorna Suruksha Kawach (Other Benefits)

Maturity benefit
Tax benefit
Surrender benefit

ABSLI Poorna Suruksha Kawach (Eligibility Criteria)

Minimum entry age- 18 years
Maximum entry age-65 years
Maximum sum assured-20 crore
Minimum policy term-5 years
Maximum policy term-55 years

Aditya Birla Saral Jeevan Bima

Aditya Birla Sun Life Insurance Saral Jeevan Bima is a simple term insurance plan that offers high life cover at affordable premiums, with flexible pr...

Unique Features

Simple Protection Plan
Flexible Premium Payment
Covers Accidental Death

Aditya Birla Saral Jeevan Bima (Pros)

High-life cover
Accidental death
Flexible premium payment

Aditya Birla Saral Jeevan Bima (Cons)

1 year WP for suicide
No policy loan
No pre-existing illness cover

Aditya Birla Saral Jeevan Bima (Other Benefits)

Hassle-free buying process
Tax benefits
Optional Riders

Aditya Birla Saral Jeevan Bima (Eligibility Criteria)

Entry age - 18 years
Max entry age - 65 years
Min sum assured - 5 lakhs
Max maturity age - 70 years

Aditya Birla Anmol Suraksha Kawach Plan

Aditya Birla Sun Life Insurance ABSLI Anmol Suraksha Kawach is a short-term term insurance plan that provides life coverage from ₹50 lakh to ₹2 cr...

Unique Features

Offer short term protection
Affordable premiums
Flexible premium payment term

Aditya Birla Anmol Suraksha Kawach Plan (Pros)

Short term cover
high sum assured
flexible premium payment

Aditya Birla Anmol Suraksha Kawach Plan (Cons)

1 year WP for suicide
No policy loan
No pre-existing illness cover

Aditya Birla Anmol Suraksha Kawach Plan (Other Benefits)

Tax-benefits
Hassle-free buying process
coverage up to 60 years

Aditya Birla Anmol Suraksha Kawach Plan (Eligibility Criteria)

Entry age - 23 years
Max entry age - 55 years
Min sum assured - 50 lakhs
Max maturity age - NA

Aditya Birla Sunlife Digishield Plan

Aditya Birla Sun Life Insurance ABSLI DigiShield Plan is a term insurance plan that offers lump sum death benefit, multiple plan variants, and flexibl...

Unique Features

Large Sum Insured
Many Plan Options
Affordable Premium

Aditya Birla Sunlife Digishield Plan (Pros)

Level cover option
Increasing cover
Income benefit

Aditya Birla Sunlife Digishield Plan (Cons)

No sucide cover
No policy loan
no pre-exiting cover

Aditya Birla Sunlife Digishield Plan (Other Benefits)

Smart exit value
Premium break
Sum assured top-up

Aditya Birla Sunlife Digishield Plan (Eligibility Criteria)

Min entry age-18 yrs
Max. entry age-65 yrs
Min. sum assured-30 Lac
Max. sum assured-no limit
Plan payment- Limited/regular.

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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.

Name of the Riders	Benefits
ABSLI Comprehensive Critical Illness Rider	This rider offers additional benefits and protection against up to 64 critical illnesses mentioned in the brochure.
ABSLI Waiver of Premium Rider	This rider waives off future premiums if you are unable to pay in the event of financial difficulties.
ABSLI Accidental Death and Disability Rider	TOffers additional benefits in case of accidental death and accidental disability.
ABSLI Critical Illness Rider	ABSLI Critical Illness Rider covers 4 major illnesses - first heart attack of specified severity, cancer of specified severity, stroke resulting in permanent symptoms, and major organ/bone marrow transplant.
ABSLI Accidental Death Benefit Rider Plus	In the unfortunate event of the death of the life insured due to an accident, 100% of the rider sum assured is paid to the nominee.

Pramerica Term vs Birla Sun Life

Compare

Pramerica Term vs Birla Sun Life

Overview

Pramerica Term Insurance: Overview

Aditya Birla Term Insurance: Overview

Riders

Riders You Can Avail With Pramerica term insurance Plans

Riders You Can Avail With Birla Sunlife Term Insurance Plans

But how does it work?

Other Term Insurance Companies

Aditya Birla Term Insurance

Aditya Birla Life Shield Plan (Pros)

Aditya Birla Life Shield Plan (Cons)

Aditya Birla Life Shield Plan (Other Benefits)

Aditya Birla Life Shield Plan (Eligibility Criteria)

ABSLI Poorna Suruksha Kawach (Pros)

ABSLI Poorna Suruksha Kawach (Cons)

ABSLI Poorna Suruksha Kawach (Other Benefits)

ABSLI Poorna Suruksha Kawach (Eligibility Criteria)

Aditya Birla Saral Jeevan Bima (Pros)

Aditya Birla Saral Jeevan Bima (Cons)

Aditya Birla Saral Jeevan Bima (Other Benefits)

Aditya Birla Saral Jeevan Bima (Eligibility Criteria)

Aditya Birla Anmol Suraksha Kawach Plan (Pros)

Aditya Birla Anmol Suraksha Kawach Plan (Cons)

Aditya Birla Anmol Suraksha Kawach Plan (Other Benefits)

Aditya Birla Anmol Suraksha Kawach Plan (Eligibility Criteria)

Aditya Birla Sunlife Digishield Plan (Pros)

Aditya Birla Sunlife Digishield Plan (Cons)

Aditya Birla Sunlife Digishield Plan (Other Benefits)

Aditya Birla Sunlife Digishield Plan (Eligibility Criteria)

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