Pramerica Term
vs
Lic Term

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

Lic Term

One of the most trusted and legacy insurance names. LIC started its journey 6 decades ago and more than 250 million people are associated with the brand.

COMPANY DETAILS Edit Pramerica Life Term Insurance

Pramerica Term

 Edit LIC Term Insurance

Lic Term
Rating
Number of term insurance plans and add-ons
Annual Premiums Collected (2023-24)

Annual Premiums Collected (2023-24)

1495.39 Cr

Annual Premiums Collected (2023-24)

Rs 474668.14 crores
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

98.8%

Payout Options

98.6%
Solvency Ratio

Solvency Ratio

4.1

Solvency Ratio

1.8
Pan India Presence

Pan India Presence

131

Pan India Presence

2000+
Riders Available

Riders Available

Accidental Death Benefit Rider, Accidental and Total Permanent Disability Rider, Critical Illness Rider, Waiver of Premium Rider

Riders Available

Accidental Death and Disability Benefits Rider, Accidental Death Benefits Rider, Critical Illness Rider, Premium Waiver Benefit Rider
Policy Term

Policy Term

10 to 30 years

Policy Term

5 to 35 years

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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LIC Term Insurance

Explore India’s best-selling Term insurance plans below

One of the most trusted and legacy insurance names. LIC started its journey 6 decades ago and more than 250 million people are associated with the brand.

LIC Jeevan Amar

LIC Jeevan Amar

LIC Jeevan Amar plan is a non-linked, non-participating, without profit, offline pure protection term insurance plan. With several benefits, LIC Jeeva...

Unique Features

  • Rebate on High Sum Assured
  • Discounted Premium for Women
  • Add-on cover with Accident Benefit Rider

LIC Jeevan Amar (Pros)

LIC Jeevan Amar
  • Choose your policy term
  • Flexibility to choose from two benefit
  • Special rates for women

LIC Jeevan Amar (Cons)

LIC Jeevan Amar
  • No maturity benefits
  • No survival benefits
  • No policy loan

LIC Jeevan Amar (Other Benefits)

LIC Jeevan Amar
  • High sum assured rebate
  • Choose the riders of your choice
  • Attractive premium rates for non-smokers

LIC Jeevan Amar (Eligibility Criteria)

LIC Jeevan Amar
  • Entry age - 18 years
  • Max entry age - 65 years
  • Min sum assured - 25 lakhs
  • Max maturity age - 80 years
  • PPT - RP/SP/LP

LIC Tech Term Plan

LIC Tech Term Plan

LIC's Tech Term plan is a non-linked, non-participating online, pure risk premium plan, that provides financial protection to the insured's family in ...

Unique Features

  • Online Application
  • Rebate on High Sum Assured
  • Lower Premium for Women

LIC Tech Term Plan (Pros)

LIC Tech Term Plan
  • Choose from two benefit options
  • Opt for payment of benefit in installments
  • Special rates for women

LIC Tech Term Plan (Cons)

LIC Tech Term Plan
  • No maturity benefits
  • No survival benefits
  • No policy loan

LIC Tech Term Plan (Other Benefits)

LIC Tech Term Plan
  • High sum assured rebate
  • Choose your policy term
  • Enhance your protection with riders

LIC Tech Term Plan (Eligibility Criteria)

LIC Tech Term Plan
  • Entry age - 18 years
  • Max entry age - 65 years
  • Min sum assured - 50 lakhs
  • Max maturity age - 80 years
  • PPT - RP/SP/LP

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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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