Pramerica Life Group Term Plan
Financial security to your group members
Sum Assured payable upon the unfortunate demise
of the member/employee insured
Avail tax benefits as per prevailing income tax
laws
A Non-Linked Non-Participating One Year Renewable Group Term Life Insurance plan.
UIN: 140N034V05
What is Group Term Plan?
UIN: 140N034V05
A comprehensive protection plan that helps your members and their families fight against uncertainties arising due to unfortunate death of the insured person. What’s more, this plan provides enough flexibility to suit businesses of every need and scale, so that you can take the right step today and help protect your members from the unpleasant surprises in life.
Pramerica Life Group Term Plan covers all Schemes as listed
below:
• Employer-Employee Scheme
• Employee deposit linked Insurance Scheme(EDLI)
• Non Employer-Employee Scheme
Why choose this plan
Key feature of this plan
Assured Protection
Sum Assured payable upon the unfortunate demise of the member/employee insured.
One Year Renewable Term
This is a One Year Group Term Plan, renewable on a yearly basis.
Free Cover Limit
Avail higher coverage without evidence of health up to the Free Cover Limit subject to eligibility conditions (only for Employer-Employee Schemes).
Simplified Procedures
Procedures are less cumbersome and hassle free. Insurance cover for all eligible members of the scheme with one Policy document issued to the Master Policyholder.
Flexibility to avail the benefits
This feature of periodical payout to protect the corpus from getting wiped out immediately had it been paid as lump sum (only for parents of School/College going children).
Learn more about the plan
Eligibility
1) Employer-Employee Scheme
Age at Entry#
Minimum: 18 Years
Maximum: 75 Years
Expiry Age#
76 years
Policy Term
1 Year, Yearly Renewable Plan
Premium Paying Mode
Yearly, Half Yearly, Quarterly and Monthly
Sum Assured
Minimum
₹10,000 (per member)
₹ 1 Crore (per scheme)
Maximum
No limit; subject to group characteristics, participation rate and Company underwriting requirements.
Group Size
Minimum
5 members for schemes
Maximum
No limit
2) Employee Deposit Linked Insurance Scheme (EDLI)
Age at Entry#
Minimum: 18 Years
Maximum: 85 Years
Expiry Age#
86 years
Policy Term
Policy term to be equal to 1 year, Yearly renewable plan
Premium Paying Mode
Yearly, Half Yearly, Quarterly and Monthly
Sum Assured
Minimum
₹6,01,000 per member or as per provisions of Employee’s Provident Fund & Miscellaneous
Provisions Act, 1952, whichever is higher.
₹1,20,20,000 per scheme
Maximum
₹10,00,000 per member
Group Size
Minimum
5 members in a scheme or as per provisions of Employees’ Provident Fund & Miscellaneous Provisions Act, 1952, whichever is applicable.
Maximum
No limit
#Age as on last birthday
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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
Need assistance?
We are happy to help you. Talk to our expert and choose the right plan as per your needs.
Unshakeable life insurance products tailored for your needs
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
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
Pramerica Life
Rakshak Smart
- Flexibility to choose from two plan options
- Flexible Premium Payment Modes
- Comprehensive death benefit in Enhanced Life Option
A knowledgeable you is an informed you
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Disclaimer:
This product provides Life Insurance coverage. Pramerica Life Group Term Plan UIN: 140N034V05. Goods & Service Tax and applicable cess will be charged over and above the quoted premium.
BEWARE OF SPURIOUS / FRAUD PHONE CALLS: IRDAI is not involved in activities like selling insurance policies, announcing bonus or investment of premiums. Public receiving such phone calls are requested to lodge a police complaint.
