Unshakeable life insurance products tailored for your needs

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Pramerica Life
Super Investment Plan
  • Benefit from Zero premium allocation charge in all years
  • Return of Mortality & Waiver of Premium Charges on survival till the end of the Policy Term
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Pramerica Life
Cancer + Heart Shield
  • Covers different stages of Cancer and Heart conditions
  • Monthly Income payable as recuperation benefit to meet your needs.
  • No need to pay any premium from the date of first claim for next 3 Policy years
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Pramerica Life
Rakshak Smart
  • Flexibility to choose from two plan options
  • Flexible Premium Payment Modes
  • Comprehensive death benefit in Enhanced Life Option
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Pramerica Life
Rocksolid Term Insurance
  • Guaranteed RockSolid protection throughout the policy term
  • Option to pay premiums once, for a limited period or throughout the policy term
  • Option to enhance your protection cover against death, disease and disability through riders
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Why choose Pramerica Life insurance

99.18% Claim Settlement Ratio

Individual Death Claim Paid Ratio as per audited financials for FY 2024-25

134 Branches PAN India

As reported on Mar 2025

Over 5.2 Million Lives Secured

As on September 2023

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Simplified Settlement of Death Claims due to recent Landslides and Floods in affected areas of Kerala, Himachal Pradesh and Uttarakhand

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Simplified Settlement of Death Claims due to recent Floods in affected areas of Andhra Pradesh and Telangana

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Frequently asked questions

What is Life Insurance?

Life insurance is a contract that pledges payment of an amount to the person assured (or his nominee) on the happening of the event insured against.

  • The contract is valid for payment of the insured amount during:
  • The date of maturity or
  • Specified dates at periodic intervals or
  • Unfortunate death if it occurs earlier

Among other things, the contract also provides for the payment of premiums periodically to the company by the policyholder. Life insurance is universally acknowledged as an institution which eliminates risk, substituting certainty for uncertainty and comes to the timely aid of the family in the unfortunate event of the breadwinner's death. Life insurance is concerned with two hazards that stand across the life path of every person:

  • That of dying prematurely leaves a dependent family to fend for it
  • That of living till old age without visible means of support

Your need for protection and planned savings at a point in time is the determining factor when you consider the insurance options. Our salesperson will assist you in making the right choice. However, while your advisor will recommend a life insurance policy that they think will meet your needs, you need to carefully examine the recommendations to ensure that your financial goals and protection requirements are indeed met. In India, the IRDAI has made it mandatory for insurance companies to provide each of the customers with an "illustration" that provides details of the premium outflows and the expected inflows for insurance products tailored to meet your specific requirements. Ask your advisor to explain the illustration to you and clear any doubts you have.

Your need for protection is not fixed as life progresses; new developments happen, and these developments impact the extent to which you need protection. Hence, the requirement for protection should be reviewed periodically, and if there is a shortfall, it should be covered as soon as possible by buying additional insurance cover. For illustration, some of the events in your life that are likely to have an impact on the levels of protection that you need are:

  • You or your children are getting married.
  • You have become or are becoming a parent
  • Your parents or spouse have retired/are retiring and are / will be financially dependent on you.
  • The health of your dependents or your health has taken a downturn.
  • You have acquired large capital assets like a new home or a car.
  • Your children are about to enter school or college.
  • You or your spouse has a large salary raise, or the family income levels have significantly increased.

You should consult your agent/ financial advisor if any events like those mentioned above have happened to evaluate if your need for protection has changed.

The need for life insurance is based on various factors, including your current lifestyle, expected outflows in future, your present age and your family size. The first step should be to estimate how much financial support your dependents would need to continue to enjoy the same lifestyle as they enjoy today if you are not around to provide that support. In estimating this support, you should consider all regular monthly expenses, including food, rentals, conveyance, school fees, medical expenses, any debts to be repaid, etc., and also estimated ones like children's education and marriage and your expected needs after retirement. Always provide for unforeseen contingencies that your dependents might need during the period of adjustment. Based on this analysis and the expected returns on the investments in future, you can work out a sum of money that would help your dependents achieve financial independence even if you are not around to support them. While every individual's situation would be different and should be evaluated separately, one rule of thumb is to buy a cover for an amount equal to 6-10 times your annual income. The need for insurance is not static and will change as your life stage changes, so you must re-work the requirement periodically and review the coverage available occasionally. It is advisable to speak to a trained financial consultant/insurance advisor to determine the extent of coverage that you require.

There are many advantages of buying an insurance policy as early as possible:

  • The consideration for an insurance policy or the premium is significantly lower at younger ages (the reason for that is as you grow older, the mortality risk is greater, and hence, insurance companies would charge a higher premium to cover that risk). By buying a policy at an early age, you would be able to protect your dependents against an unforeseen event like death at a much lower overall cost.
  • As you grow older, you will likely suffer from health problems, and obtaining insurance could become difficult at that stage, even if you want to.
  • If you are buying insurance with a view to create a large sum of money at a pre-determined age to meet certain planned expenses like your childrens education or for your post-retirement expenses, then saving early on in your life is highly beneficial.

If you start saving late, you must keep much more or for longer durations to get the same amount of money.

Any person who has attained majority and is eligible to enter into a valid contract can insure themselves and those in whom they have insurable interest.

Policies can also be taken, subject to certain conditions, on the life of one's spouse or children. While underwriting proposals, the insurance company considers certain factors, such as the policyholder's state of health, the proposer's income, and other relevant factors.

Life is uncertain, and it is impossible to predict the different events that can occur. However, there is always a need to earn income to support yourself and your dependents in case of any eventuality. Life insurance provides financial security in the wake of unfortunate events like death or the inability to earn due to physical disabilities. Besides providing financial protection in the case of one's untimely death, it can be used to accumulate a kitty for your old age, build assets systematically, fund your child's education, and save on taxes.

What are IRDAI guidelines pertaining to claim processing?

As per IRDAI (Insurance Regulatory Development Authority of India), the insurance company is required to settle a claim within 15 days of receipt of all requirements. However, if the claim warrants further verification, the Company should complete its procedures within 45 days from receipt of written intimation of the claim. If the Company settles the claim beyond 45 days period, interest is payable by the Company on the claim amount. The interest is payable only where the claimant has submitted all the requirements. Further, rate and period of interest are decided as per IRDAI guidelines.

For any clarification, complaint or dissatisfaction claimant / nominee can contact Grievance Redressal Procedure Customer Service Help Line: 1860 500 7070 / 011 4818 7070 (Local charges Apply) (9 am to 7 pm from Monday to Saturday)

Email: contactus@pramericalife.in

Website: https://pramericalife.in/contact-us

Communication Address:
Customer Service,
Pramerica Life Insurance Limited
TOWER-B, 4TH FLOOR, BUILDING NO.-9, CYBER CITY, DLF CITY PHASE-III, Gurugram, Haryana, 122002

As per IRDAI circular no. IRDA/FA/CIR/GLD/056/02/2014 dated February 13, 2014, all payouts made to customers need to be in the electronic form. Hence, we will disburse claim payments through NEFT.

You will receive a letter from us on your communication address as soon as we decide on the claim.

In addition to the listed documents, we may call for additional documents if a need arises.

Claims are examined and settled by the company basis details present in the documents submitted by you. Hence, it is advisable to provide complete details and all documentation to us for faster and smoother claims processing.

You can submit the claim-related documents to us at any of our Pramerica Life branches. You may find list of branches in the Locate Us section of our website.

  • Visit the nearest Pramerica Life branch
  • Talk to your Pramerica Life Insurance representative

Please provide a copy of the legal heir certificate for us to process the claim.

Please provide an indemnity bond on a Rs. 100 non-judicial stamp paper, signed by the claimant. The indemnity bond is available with our branches.

What is rupee cost averaging?

Everyone who invests in the market wishes to get the maximum out of the market by buying at a low price, selling at a high price and timing the market to perfection. However, this is only in theory. In the real world, often, the reverse happens, and investors get caught at the wrong end. To avoid the risk of mistiming the market, rupee cost averaging can be very useful. In this, you invest a fixed sum periodically, say, monthly, over a long term, say a year or two. This lets you enter the market at various price points, irrespective of the market being high or low. In this way, you can average your investment cost and reduce the risk of the ups and downs of the market.

Broadly, the different types of fees are given below:

Premium Allocation Charge This is a percentage of the premium appropriated towards charges before allocating the units under the policy. This charge usually includes initial and renewal expenses apart from commission expenses.
Mortality Charges These are charges to cover the cost of insurance coverage under the plan. Mortality charges depend on factors such as age, amount of coverage, state of health, etc.
Fund Management Charges Charges These are fees levied for managing the fund (s) and are deducted before arriving at the Net Asset Value (NAV).
Policy Administration Charges These are the fees for the plan's administration and are levied by unit cancellation. This could be flat throughout the policy term or vary at a pre-determined rate.
Surrender Charges A surrender charge may be deducted for premature, partial or complete encashment of units wherever applicable, as mentioned in the policy conditions.
Fund Switching Charge Generally, a limited number of fund switches may be allowed each year without charge, with subsequent switches subject to a charge.

Investment returns from ULIP are not guaranteed. In unit-linked products/policies, the investment risk in the investment portfolio is borne by the policyholder. The policyholder may achieve gains or losses on their investments depending upon the performance of the unit-linked fund (s) chosen. It should also be noted that the past returns of a fund are not necessarily indicative of the future performance of the fund.

Partial withdrawal of a policy implies withdrawal of only a part of the funds of your policy. For specific details on the same, please refer to the ULIP product brochure in the Products section of this website.

For Switch and premium redirection, you can download the appropriate form from the Download section of our website, fill it in and send it to the nearest Pramerica Life Insurance branch office. You can log in to the website with your user ID and password and give your request online.

Top-ups are one-time payments. You can make an additional investment through a top-up over and above your regular premium payments. You can make a top-up anytime while your policy is in force. The applicable norms for top-ups may differ for every product.

A premium redirection enables you to change your fund allocation for all the future premiums of your policy.

A switch enables you to shift the existing units of your unit-linked policy into a new fund.

It is a component of the fund in a ULIP.

The allocated (invested) portions of the premiums, after deducting all the charges and premiums for risk cover under all policies in a particular fund as chosen by the policyholders, are pooled together to form a unit fund.

Can I change the frequency of payment for my policy?

Yes, you can change the premium frequency from low (annual) to a higher frequency (bi-annual or monthly) or vice-versa.

You have the following options:

  • Download the Policy Amendment Form A form from the Download section of our website, fill and send it to us.
  • Call our Customer Service Helpline numbers mentioned in the Contact Us section of the website.
  • Or write to us at the corporate address mentioned in the Contact Us section of the website

Assignment or transfer of a life insurance policy may be made by simply endorsing that effect in the policy document. Another way of transferring or assigning the life insurance policy is to get a separate assignment deed executed. The former case is the preferred assignment mode as it is exempt from further stamp duty. The assignor should sign an assignment or his duly authorised agent, specifically stating the transfer or assignment. At least one witness should attest the document.

Yes, you can assign a policy. To assign the policy, you have to notify us regarding the assignment.

Transfer or assignment is a method of transferring one's transferable interest in a life insurance policy to another person or institution, for example, as a security for repayment of loans.

The following details are necessary when filling in the proposal form:

  • Full name of the nominee
  • Address
  • Age
  • The relationship between you and the nominee

Yes. You can change your nomination at any time till the maturity date. All you need to do is to inform us about the change through the specified form.

Nomination is a right conferred on the life insurance policyholder to appoint a person(s) to receive the policy monies if the policy becomes a claim by death. Any policyholder who is a major and the life insured under a policy can make a nomination. A nominee is a person designated by the policyholder to receive the proceeds of an insurance policy, upon the death of the life insured.

While nomination is an authorisation to receive the policy monies in the event of death of the life insured, it does not give the nominee an absolute right over the money received to exclude other legal heirs. Further, the nomination can be revoked or cancelled at any time during the policyholder's lifetime at his will and pleasure or by a subsequent assignment.

On the other hand, the assignment of an insurance policy is a transfer or assignment of all rights and liabilities of the insurance policy in favour of the assignee.

The following details are necessary when filling in the proposal form:

  • Full name of the nominee
  • Address
  • Age
  • The relationship between you and the nominee

Disclaimers:
* As on September 2023
** Individual death claims settled and reported in public disclosures for FY 2022-23
^ As reported in Annual Report for FY 2023-24
# Valid for Pramerica Life Rakshak Smart plan, purchased by serving Indian Army personnel | Guarantee valid upto Rs 20 Lakhs | Standard policy T&C apply