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Pramerica Term Insurance
Pramerica Term Insurance
Pramerica Life Insurance offers a wide range of solutions to individuals as well as groups. They have a pan-India ...Read More
What you get with Pramerica Term Insurance
The headline features and policy mechanics, at a glance.
Annual Premium 2074.43 crores
Affordable premium options starting from entry-level to comprehensive whole-life protection.
99.18% claim settlement ratio
Industry-leading approval rate on eligible term insurance claims in the most recent fiscal year.
2.33x solvency ratio
Well above IRDAI's 1.5× floor — strong indicator of long-term claim-paying ability.
4+ optional riders
Extend a base policy with add-on covers — critical illness, accidental death, waiver of premium and more.
134 pan-India presence
Branch offices and claim service centres across India for easy policy servicing.
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, ensuring your family is financially protected by offering a lump sum payout in the event of death during the policy term.
Key Features of Pramerica Term Insurance:
- 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
Video reviews
Pramerica Term Insurance Plans Overview
Riders You Can Avail With Pramerica Term Insurance Plans
Enhance your term plan with optional add-on riders for broader protection.
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
Under 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 future premiums of the ongoing term plan will be waived off with immediate effect.
Benefits of Pramerica Term Insurance
Pramerica Term Insurance is one of the most trustworthy and reliable insurer partners. Here are the reasons why you should choose Pramerica Term Insurance Plans:
01
Affordable Premiums
One of the main reasons to opt for Pramerica term insurance plans is their affordability. Pramerica offers term insurance plans with affordable premiums. The basic term insurance coverage with a life cover of 50 lacs starts at just ₹645 per month.
02
Flexible Policy Terms
Pramerica term plans include 10, 20, or 30 years of policy term, allowing flexibility based on financial goals and contingency needs.
03
Claim Settlement Ratio (CSR)
The claim settlement ratio showcases the long-term claim-settling ability of the insurer. Pramerica stands strong in this feature.
04
Solvency Ratio
Pramerica term insurance reported a solvency ratio of 4 in the financial year 2022, considered one of the best in the insurance industry.
Documents required
For policy purchase and claim submission. Have these ready before you start.
- Any one of the following: Passport, Aadhaar Card, PAN Card, Driving License.
- Any one of the following: Passport, Aadhaar Card, PAN Card, Driving License.
- Any one of the following: Utility Bill, Passport, Voter ID, Ration Card.
- Medical records of the policyholder, if requested.
- Any one of the following: Bank Statement, last three months' salary slips (if salaried).
Eligibility Criteria of Pramerica Term Insurance Plans
To purchase a Pramerica term insurance plan in 2025, certain eligibility criteria must be met. Let's understand the eligibility criteria in detail.
Age: A person between the ages of 18 and 65 is eligible to apply for a term life insurance plan. The policyholder’s age is a key factor in the term insurance plan’s premium.
Health condition: Since a Pramerica term insurance plan insures the policyholder’s life, most insurance providers require a policyholder to undergo a health examination to determine their current health condition and the inherent risks for the insurer. Be completely honest about your health condition and medical history to avoid issues during claim settlement.
Income: A Pramerica term insurance plan has no specified minimum income requirement. However, they might ask for your bank statement copies and salary slips to determine the coverage on your term plan.
Smoking habits: If you smoke or have been a smoker in the past, you must disclose this information to the insurer. This is because smokers are exposed to severe health hazards like lung cancer.
Citizenship: Indian citizens can buy a Pramerica term insurance plan in India in their name. However, NRIs or PIOs can also avail the benefits of a term insurance plan in India.
Additional Benefits Offered By Pramerica Term Plans
Pramerica Life Term Insurance Plans offer various additional benefits to policyholders, some of which are explained below:
Increasing Life Cover
Some Pramerica Term insurance plans offer you the option to increase your life cover to cope with upcoming responsibilities in life.
Spouse Cover
Pramerica Life Rocksolid Term Insurance Plan offers spouse cover so that you can cover your spouse under the same plan.
Smart Exit Option
The Smart Exit option gives you the choice to exit the policy once your need for cover is over. Under this, you can receive all your paid premiums back (excluding rider premiums and applicable taxes).
Convenient Premium Payment Terms
All Pramerica term insurance plans offer convenient premium payment options: single premium, limited premium (5 or 10 years), or regular premium.
Special Premium Rates for Non-Smokers and Females
Pramerica Life Term Plans, such as Pramerica Life Rocksolid Term Insurance Plus, offer special premium rates for non-smokers as well as females.
Types of Pramerica Term Plans
There are a plethora of Pramerica Life Term Plans based on their features, benefits, and premiums. You can select the one that best suits your requirements.
Basic Term Plan
Plan Name: Plan Name: Pramerica Life U-protect
This plan only provides a death benefit to the nominee in case of the unfortunate demise of the policyholder.
Term Plan with Reducing Cover
Plan Name: Plan Name: Pramerica Life True Shield
This plan offers reducing cover along with flexible premium payment.
Term Insurance with Affordable Premium
Plan Name: Plan Name: Pramerica Life Saral Jeevan Bima
This plan offers affordable term insurance coverage along with flexible policy terms.
Term Insurance with Critical Illness
Plan Name: Plan Name: Pramerica Life Rocksolid Term Insurance Plan
This plan offers spouse coverage in the same policy along with life-stage benefits.
How to Buy a Pramerica Term Insurance Plan?
Step-by-step guides for the four key moments in your policy lifecycle. Click a tab to switch.
- Visit the PolicyX.com website or the Pramerica Term Insurance official website to compare and choose a suitable term plan.
- Enter your personal details such as name, date of birth, gender, annual income, and smoking status to get a customised quote.
- Compare plan options — choose your sum assured, policy term, premium payment term, and any optional riders.
- Fill in the proposal form with your contact details, nominee information, and medical history accurately.
- Upload the required documents: identity proof, address proof, income proof, and recent photographs.
- Pay the first premium online via net banking, UPI, debit/credit card, or cheque.
- Complete the medical examination if required (depends on your age and sum assured).
- Receive your policy document via email and registered post after underwriting approval.
- Filing a claim for a Pramerica Term Plan is a simple and hassle-free task. You can easily file and submit claims online or offline. To file a claim for a Pramerica Term Plan, you need to follow the below-mentioned steps.
- Inform the company about the incident via any of these channels: by writing an email at [email protected], calling the toll-free number (1860 209 7272), filling out the online claim form on its website, or visiting the nearest branch.
- Pramerica's customer support staff will review your claim form and assist you at every step. They will then evaluate your claim and notify you if any documents are still pending.
- After receiving all the documents and claim forms, the company will verify the details as per their norms. On successful completion, the claim will be settled, and the amount will be transferred to the nominee's bank account. The settlement will be communicated to the nominee over a call or an email.
- The Pramerica Term Plan claim settlement procedure can be reported by visiting the local Pramerica Branch Office. For details of Pramerica Life Insurance branches, you can visit their website and locate the nearest branch. You must submit the essential documents at the branch so that your claim can be processed.
- Log in to the Pramerica Term Insurance customer portal or the PolicyX.com dashboard before your policy renewal date.
- Review your existing policy details — coverage, premium amount, and nominee information.
- Choose to continue with the same plan or upgrade your sum assured if eligible.
- Pay the renewal premium online via net banking, UPI, debit/credit card, or cheque.
- Download the renewed policy document from your registered email or the insurer portal.
- Visit the official website of Pramerica Life Insurance Company.
- Click on ‘Buy Term Plan’ on the navigation bar and select ‘Term Insurance Plans’.
- Click on the ‘Buy Now’ button and fill in the required details.
- Tap on 'Next' and select a plan as per your requirements.
- Select the cover option you want and make your payment.
Why Choose PolicyX.com?
Don't just take our word for it — check out what our happy customers say about us!
All my claims were rejected for 3 years. Then, I received a text from PolicyX team, who noticed that my claims hadn't been settled. They managed to get my claims settled, totalling ₹4.5 L. I really appreciate the efforts of the PolicyX advisors for their support in settling my claims.
Ravindra SinghI highly appreciate the help of the PolicyX team for settling my claim of Rs. 5 Lakhs with zero deductions. I took a policy online from them in March 2024. As a customer, it's been a great experience throughout the process.
Priti VarshneyI'm very satisfied because my claim of over ₹2 L has been settled as a result of your team effort. However, I was very upset with the insurer, who delayed the claim for almost 2 months. But with your support and interaction, the claim was settled within 30 days & I appreciate it a lot.
Nisha MaryI bought my health policy from PolicyX, and so far, it's been a very pleasant experience with the team. I really appreciate the help for renewing my health policy. I look forward to continuing my relationship with PolicyX and recommend it to everyone.
Ajay ShahPolicyX has been a savior during a medical emergency in my family recently. My wife was admitted in the hospital, and the insurance company declined my claim request. The PolicyX team handled the situation very well and I received the claim right on time.
Vijay RathodI purchased a health plan for the very first time and the support by PolicyX is commendable. They helped me with the paperwork, explained the policy details to me with patience and supported me at every step of policy buying. A big thanks to you guys.
Uma MahajanFrequently asked questions
The 10 most-asked questions about Pramerica Term Insurance, answered.
Customer satisfaction
Aggregate ratings from 933 verified PolicyX customers who bought a Pramerica Term Insurance plan.
Term Insurance Articles
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PolicyX content is researched in-house and reviewed by an IRDAI-certified insurance specialist before publication.
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