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Pramerica Term vs Exide Term

Pramerica Term

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

Exide Term

Exide Life, an established insurance company, commenced its operations in 2001-02. The insurance company is headquartered in Bangalore and is a subsidiary of HDFC.

COMPANY DETAILS

Pramerica Term

Exide 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 (2024-25)	Annual Premiums Collected (2024-25) 919.38 crores	Annual Premiums Collected (2024-25) 3767.96 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 99.09%
Solvency Ratio	Solvency Ratio 2.62	Solvency Ratio 1
Pan India Presence	Pan India Presence 134	Pan India Presence 100+
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, Disability and Dismemberment Rider, Critcal Illness Rider
Policy Term	Policy Term 10 to 30 years	Policy Term 10 to 35 years
Inception year	Inception year 2008	Inception year 2001
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 30 days
IRDAI registration number	IRDAI registration number 140	IRDAI registration number 114
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 Product of the Year 2019, Digital Insurer of the Year 2018, Indian Insurance Award 2016
Recommended Videos	Pramerica Term Insurance Plans Overview

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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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