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. Basic term insurance coverage with a life cover of 50 lacs starts at just ₹645 per month.
Flexible Policy Terms
Pramerica term plans include 10, 20, or 30 years of policy term, allowing flexibility based on financial goals and contingency needs.
Claim Settlement Ratio (CSR)
The claim settlement ratio showcases the long-term claim-settling ability of the insurer. Pramerica stands strong in this feature.
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.
Eligibility Criteria for 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: 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: Pramerica Life True Shield
This plan offers reducing cover along with flexible premium payment.
Term Insurance with Affordable Premium
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: Pramerica Life Rocksolid Term Insurance Plan
This plan offers spouse coverage in the same policy along with life-stage benefits.
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 |
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. |
Documents Required to Buy Pramerica Term Insurance Policy
Here are the documents required to buy a Pramerica Life Term Insurance Plan:
Photo ID Proof
- Passport
- Aadhaar Card
- PAN Card
- Driving License
Age Proof
- Passport
- Aadhaar Card
- PAN Card
- Driving License
Address Proof
- Utility Bill
- Passport
- Voter ID
- Ration Card
Medical Records
Medical records of the policyholder, if requested.
Income Proof
- Bank Statement
- Last three months' salary slips (if salaried)
How to Calculate Premiums
- 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.
How to File a Pramerica Life Term Insurance Plan Claim
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.
Online Process
-
Claim Reporting
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.
-
Claim Review
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.
-
Claim Approval and Settlement
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.
Offline Process
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.
How to Port Your Policy
- Fill out the form given at the top of this page with the necessary details.
- Select your income and city. Click on 'Proceed'.
- Update your education and occupation details.
- Choose your preferred plan and click on 'Buy this plan'.
- Select the policy term, premium period, and riders (if required), and then proceed to make the payment.
ChatGPT
Claude
Perplexity
