Pramerica Life Term Insurance Plans
Pramerica Life Insurance Limited, earlier known as DHFL Pramerica Life Insurance Company Limited, provides an array of life insurance products, including term plans. The term insurance plan comes with various features and benefits catering to customers’ financial needs, such as providing high coverage to ensure substantial financial protection to the insured’s family from a sudden mishap.
Benefits of Pramerica Life Term Insurance Plans
- The company offers complete protection while financially securing your family at an affordable cost.
- It offers an additional option to enhance the scope of your base coverage by adding various riders like Critical Illness Rider and Accidental Death Benefit Rider.
- Flexible options for premium payments, you can either make regular payments or a one-time payment or for a limited period.
- It offers a flexible death benefit option, which includes a level cover or reducing cover option.
- Maturity benefit is available with these term plans, wherein all the premiums are paid back upon completion of the policy tenure.
- Premium paid towards the Pramerica Term Insurance Plans are eligible for tax benefit under prevailing tax laws.
Term Plans offered by Pramerica Life Insurance
1.Pramerica Life TruShield
It is a non-linked and non-participating term insurance plan that offers a premium return at the time of maturity. The minimum sum assured provided by this plan is Rs 5 lakhs. Besides that, the plan provides an additional death benefit for policyholders when they pay all due premiums. This plan is a must-buy as it ensures a comfortable and secured lifestyle at a very nominal cost.
2. Pramerica Life U-Protect
Pramerica Life U-protect term insurance plan offers comprehensive coverage to a policyholder’s family to live a problem-free life after his/her sudden death during the policy term. The plan provides a minimum sum assured of Rs 25 lakhs to a policyholder’s family in case of a sudden demise. A beneficiary or nominee will receive the amount, and the policy gets terminated immediately. Pramerica’s Life U-protect term insurance plan provides two rider options for policyholders enabling them to pick any option based on their choices for more protection. It also offers lower premiums for keeping up a healthy, non-smoking lifestyle.