Pramerica Life Group Term Elite

·   On occurrence of ATPD, the ATPD Sum Assured will be payable and ATPD cover shall terminate.

·   Total Permanent Disability shall mean disablement of the insured member which meets the definitions in either of parts A or B as defined below:

Part A: Unable to work:

Total and Permanent Disability shall mean when the insured member is totally, continuously and permanently disabled as a result of injury due to accident and is thereby rendered totally incapable of being engaged in any work or any occupation or employment for any compensation, remuneration or profit

Part B: Physical Impairments:

The insured member suffers an injury due to accident resulting in total and irrecoverable loss of:

1.  The use of two limbs at or above wrists or ankles; or 

2.  The sight of both eyes; or

3.  The use of one limb at or above wrists or ankles and the sight of one eye; or 

4.  By severance of two or more limbs at or above wrists or ankles; or 

5.  Sight of one eye and loss by severance of one limb at or above wrist or ankle. 

Depending on the scheme rules defined by the Master Policyholder, members of the scheme will be eligible for wellness services (not limited to) like Tele Consultations, Preventive Health Check-Up, Diet and Nutrition Consultations etc. at no additional premium. 

These Wellness Services can be availed by the Policyholder/Life Assured, from the service providers registered with Us. The availability of services shall be at our discretion. These services will be subject to the terms and conditions of the third-party service provider and at the sole responsibility of the Policyholder/Life Assured.

There is no maturity benefit under any of the schemes.

This is a pure protection plan hence there is no surrender value. In case of surrender of the group Policy, the Company shall give an option to individual members of the group, on such surrender, to continue as an individual Policy and the Company shall continue to be responsible to serve such members till their coverage is terminated, provided the due premium for the remaining tenure is paid.

A grace period of 30 days in half-yearly mode and quarterly mode and 15 days in case of monthly mode is applicable under this product. There is no grace period applicable in case of yearly mode. If the company does not receive the premium due within the grace period, the policy will lapse at the expiry of the grace period. In case of death of a member(s) during the grace period, the death benefit will be entertained, if the premium due for the scheme has been paid by the Master Policyholder before the end of the grace period.

You will have a period of 30 days from the date of receipt of the Policy document to review the terms and conditions of the Policy and if you disagree to any of these terms and conditions, you have an option to return the Policy stating the reasons for objection. On receipt of the letter along the Policy documents, the Company will refund the premiums paid, subject to the deduction of proportionate risk premium for the period on cover and any expenses incurred by the Company on medical examination of the members and stamp fees charges, if any.

In case of Non Employer-Employee Scheme, Individual Member can also opt for free-look cancellation within 30 days of the receipt of the Certificate of Insurance.