Pramerica Life Term Insurance FAQs

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

Yes, Pramerica Life Insurance Company offers 15 days of free-look cancellation period from the date of policy issuance.

Pramerica Life Insurance offers affordable term insurance plans. The company offers high coverage at a reasonable cost. Pramerica Life Insurance has featured a high claim settlement ratio of 98.42% in the FY 2019-20.

Yes nomination and assignment is allowed under pramerica term insurance plans.

The nominee will receive the money from Pramerica directly into their bank account. In case the nominee is a minor, the appointee will receive the money who will keep it safe till the nominee comes of age.

Generally, the Pramerica claim settlement process takes 30 working days from the day of last document submission.

Typically, the nominee in Pramerica is a close relative or preferably, a person next of kin, but it all depends upon the policyholder, and anyone can be a nominee.

Yes, Pramerica can within their rights reject a claim if they find any indications of fraud, non-disclosure of information, indications of the irrelevant claim.

The minimum sum assured in a Pramerica TruShield plan is Rs 5 lakhs, and the maximum is Rs. 50 crores. The minimum amount assured in DHFL Pramerica U-Protect plan is Rs. 25 lakhs, and there is no maximum limit which is subject to underwriting.

Pramerica TruShield plan has an option of monthly, annual, or single premium payment, whereas the U-Protect plan has yearly and half-yearly premium options.

Pramerica TruShield term insurance returns the premium minus the tax amounts to the policyholder if they are alive at maturity otherwise the sum assured at the inception of the policy is offered to the family of the policyholder in an unfortunate event of death.

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

No, facility of loan against the insurance policy is not allowed under Pramerica term insurance plans.

Pramerica Life TruShield plan offers return of premiums in case the life assured survives the entire policy term. The premiums will be returned at the time of maturity of the insurance policy.

No, Pramerica Life TruShield plan does not offer any riders.

Documents required to purchase a Pramerica term insurance plans are as follows:

• Photo Identity Proof (Adhaar Card, PAN Card, Voter’s ID Card etc.)
• Application Form
• Address Proof

No, the calculation is a task completed within minutes from start to end. If only calculation is taken into account without considering the entry of details, it is a task of seconds.

The Pramerica term insurance can be easily accessed at the InsuranceDekho website in the life insurance section.

Yes, the premium calculated is exact even when you go for purchase. The only scenarios where premium can vary is if you add a new rider to the original policy or your smoking habit can affect the end premium. Disclosure of smoking information is essential; otherwise, the policy may be rendered null and void by the company for fraud due to non-disclosure of information.

Factors which are crucial in the determination of the premium amount are the type of plan, insurance amount, policy term, your age, and gender. They affect the premium amount of Pramerica term insurance.