Pramerica Life Insurance
Pramerica Life Insurance Limited is a well-known company in the field of insurance market in India. Pramerica Life Insurance Limited was earlier known as DHFL Pramerica Life Insurance Company Limited. This company started its operations from 2008 across India. Ever since the company was established, it has been bringing a variety of life insurance plans in India at very affordable annual premium rates. Also, there has been a significant growth in terms of its customer service and distribution network. It is serving its insurance products across India through its multiple distribution channels. Insurance policies provided by Pramerica Life Insurance Limited are designed keeping in mind the needs of the customers.
Pramerica Life Insurance offers a wide range of life insurance plans to its customers in India. It caters to various financial protection needs of customers such as life insurance, insurance to secure children’s future, retirement planning insurance, savings insurance, insurance that provides wealth creation.
Types Of Pramerica Life Insurance Plans
Pramerica Life Insurance offers a variety of insurance plans to meet the need of its customers. Presently there are 7 types of life insurance plans offered by this insurance company which are mentioned below.
- Term Plan : Pramerica Life Insurance offers 3 types of term insurance plans to its customers. It is as follows-
(a) Pramerica Life Saral Life Insurance
(b) Pramerica Life TruShield
(c) Pramerica Life U – Protect
- ULIP Plan :
Pramerica Life Insurance offers 4 ULIP plans to its customers. These 4 ULIP plans are as follows-
(a) Pramerica Life Wealth Enhancer
(b) Pramerica Life Wealth Maximizer
(c) Pramerica Life Wealth + Ace
(d) Pramerica Life Smart Wealth+
A ULIP plan provides life protection as well as investment convenience to the customers. Hence a ULIP plan offers the customer a dual benefit.
- Child Plans :
Pramerica Life Insurance offers a child plan for children called Pramerica Life Rakshak Gold.
(i) Pramerica Life Rakshak Gold
It is a type of endowment policy which provides death benefit to the policyholder as well as maturity benefit. This policy serves to provide financial protection to their children if the policyholder dies due to an unfortunate event.
- Health Insurance Plans :
Pramerica Life Insurance offers 1 health insurance plan namely Pramerica Life Cancer + Heart Shield
( i ) Pramerica Life Cancer + Heart Shield
Pramerica Life Cancer + Heart Shield health insurance plan offered by Pramerica Life Insurance is designed to provide financial protection to you and your family by covering medical expenses arising out of various critical illnesses such as cancer, heart disease etc.
- Savings Plans :
Savings plans are also offered by Pramerica Life Insurance. Presently 7 types of savings schemes have been made available in the market by this insurance company which are as follows-
(i) Pramerica Life Secure Savings Plan
(ii) Pramerica Life Smart Income
(iii) Pramerica Life Smart Assure
(iv) Pramerica Life Flexi Cash
(v) Pramerica Life Smart Cash Protect
(vi) Pramerica Life Rose Sanchay
(vii) Pramerica Life Magnum Assure
- Group Plans :
Group plans are also provided by Pramerica Life Insurance as per the requirement of the customers. Presently 9 group insurance plans are being provided by Pramerica Life Insurance which are as follows-
(i) Pramerica Life Group COVID -19 Shield
(ii) Pramerica Life Group Traditional Employee Benefit Plan (ramerica Life Group Traditional Employee Benefit Plan)
(iii) Pramerica Life Group Health Kavach
(iv) Pramerica Life Total Security
(v) Pramerica Life Group Term Care
(vi) Pramerica Life Group Term Plan
(vii) Pramerica Life Sarva Suraksha , Pramerica Life Group Credit Life + (Pramerica Life Sarva Suraksha, Pramerica Life Group Credit Life+)
(viii) Pramerica Life Dengue + Group Shield
- Read Also Prahari Life Insurance
Benefits Of Pramerica Life Insurance
Pramerica Life Insurance offers a variety of life insurance products in India. Here is all you need to know about the benefits of these life insurance products provided by the insurance company. Now we will know in detail about the benefits of Pramerica Life Insurance.
- Customer Friendly Services :
Pramerica Life Insurance endeavors to provide customized services to its customers. If a person wants to buy a policy from Pramerica Life Insurance, then at every step of it you get the help of the trained staff of the company. You can easily get assistance through the trained staff of the insurance company, whenever you require it, either before the policy purchase or after the policy purchase. It also includes policy renewal and claim process.
- High Claim Settlement Ratio :
Pramerica Life Insurance company has a high claim settlement ratio which shows that the life insurance policies provided by this company are quite reliable. This means that if the customer submits a claim in his insurance policy, it is much easier for him to get paid the claimed amount. A claim settlement ratio refers to the number of claims settled by an insurance provider.
- Wide range of products :
Pramerica Life Insurance offers a wide range of insurance products. This includes life insurance products such as term insurance, ULIP, savings, health, child plans and group plans. One can choose an insurance policy as per their financial requirement from the wide range of insurance products offered by this insurance company.
- Online and Offline Premium Payment :
The premium given in the insurance policy purchased from Pramerica Life Insurance can be easily paid by the customer through both online and offline means. The customer can choose any of these two premium payment options as per his requirement.
- Tax Benefits :
On purchasing the policy from Pramerica Life Insurance, the customer is also provided with the benefit of income tax exemption. Tax benefits are provided under section 80C of the Income Tax Act on the premium paid for the policy. Also, on the maturity benefit, the subscriber is entitled to receive tax benefits under Section 10D of the Income Tax Act.
- Dedicated Policy for Defense Personnel : _
Pramerica Life Insurance offers a dedicated life insurance policy for defense personnel. Through this, keeping in mind the needs of the defense personnel, it is done to provide them the benefit of a life insurance policy suited to them.