Pramerica Life Term Insurance Calculator

Pramerica Life Term Insurance Calculator

A collaboration between Prudential International Insurance Holdings Limited and Dewan Housing Finance Corporation Limited, Pramerica Life Insurance commenced its operations in 2013. The company follows a customer-centric approach to provide quality and affordable financial solutions.

Pramerica Life Insurance provides various insurance products, including term insurance plans which offer high coverage at an affordable price range. The term insurance plans at Pramerica are carefully designed to cater to its customers’ different needs while providing comprehensive life cover.

Pramerica Life Insurance provides a term insurance premium calculator used to calculate the correct premium amount to be paid for the term insurance. The calculator is free and accurately calculates the premiums for a particular term insurance policy. Therefore, a policy buyer can calculate the premium beforehand and then make an informed buying decision considering his or her financial condition.

Benefits of Pramerica Life Term Insurance Premium Calculator

  • Free of Cost: Pramerica Life term insurance premium calculator is an online free-of-cost tool that is simple and easy to use.
  • Accurate Calculation: The term insurance premium calculator gives a precise premium amount to be paid by you for your term insurance.
  • Make the right decision: Pramerica Life term insurance premium accurately calculates the premium amount based on your inputs and helps you make the right decision by choosing the right term insurance policy.

Pramerica Life Term Insurance Plans

  • Pramerica Life TruShield
  • Pramerica Life U-Protect

Below are the details about term insurance plans offered by Pramerica Life Insurance:

1. Pramerica Life TruShield: Pramerica Life TruShield term plan has been carefully designed to offer financial security to your family in your absence, along with an option to return the premium if you survive the policy tenure as a maturity benefit. The tenure of this policy is 7 years, 10 years, 12 years, 15 years, and 20 years. The minimum age to apply for this policy is 18 years, and the maturity age is 65 years. The minimum sum assured under this policy is Rs 5 lakhs and a maximum of Rs 50 crores.

2. Pramerica Life U-Protect: Pramerica Life U-Protect term insurance policy provides life cover without any maturity benefits. It is a pure protection plan wherein the nominee receives the death benefit amount upon the policyholder’s demise, and the policy terminates after that. Its tenure ranges from 10 years to 30 years, and the maximum maturity age is 65 years. The minimum sum assured under this policy is Rs 25 lakhs, and there is no maximum limit.

Benefits of Pramerica Life Term Insurance Plans

Pramerica Life term insurance plans offer financial support to your loved ones in your absence while helping them to meet their daily expenses and desired when you are not around with them. The company works on a customer-centric approach and has curated its products considering the requirement of the customers.

  • Financial security: Pramerica term insurance plans provide financial security to your loved ones in case of your unfortunate demise within the policy term. These plans ensure that your family does not have to face any financial problems in your absence.
  • High Assured Amount at Low Premium: Pramerica Term Insurance policies offer high insurance cover at considerably low and affordable premiums.
  • High Claim Settlement Ratio: Pramerica Life Insurance Company boasts of a high claim settlement ratio of 98.42% in the FY 2019-20, proving it to be one of the most trusted reliable partners in the insurance sector. The company aims at providing quality service to its customers through its well-thought products.
  • Tax Benefits: Pramerica Term Insurance policies are eligible for tax exemptions under sections 80C and 10D of the Income Tax Act 1961.

 

FAQs:

Does Pramerica Life term insurance plans cover suicide?

Suppose the insured passes away because of suicide during the first 12 months from the date of the policy issuance. In that case, the insurer will provide 80% of the total premiums paid to the insured's family.

What is the grace period offered for Pramerica term insurance plans?

Pramerica Life Insurance offers 30 days grace period from the date of the first unpaid premium. The policy will lapse in case you fail to pay the premium within the grace period.

How much time does Pramerica Life Insurance Company take to decide on the claim?

Pramerica Life Insurance Company generally takes 30 working days from the date of the last document submission to settle the claim.

Can Pramerica Life term insurance reject a claim?

Yes, Pramerica Life term insurance can reject a claim if they find any false information, non-disclosure of information, fraud, or any indications of an irrelevant claim.

What are the different premium payment frequencies in Pramerica Term Insurance policies?

You can pay Pramerica Life term insurance policy premiums yearly, monthly, half-yearly, quarterly, or even a single premium payment.

Which Term Insurance policy under Pramerica Life Insurance provides maturity benefit?

Pramerica TruShield term insurance provides maturity by returning the premiums paid minus the tax amounts to the policyholder if they outlive the policy term; otherwise, the sum assured is given to the insured's family in case of sudden demise insured.

What is the maximum maturity age under a Pramerica Life term insurance plan?

The maximum maturity age for a Pramerica term insurance policy is 65 years.

What are the documents required to buy Pramerica term insurance plans?

Documents required to buy Pramerica term insurance plans include - Photo Identity Proof, Address Proof such as Adhaar Card, PAN Card, Voter's ID Card, etc., along with the Application Form.

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