Pramerica Life Insurance
Pramerica Life Insurance Company

Pramerica Life Insurance Company

Pramerica Life Insurance Limited is the result of the merger of two well-known financial services companies with a long history of commercial performance. The company is a joint venture between DHFL Investments Limited (DIL), a wholly-owned subsidiary of Dewan Housing Finance Corporation Ltd. (DHFL), and Prudential International Insurance Holdings, Ltd. (PIIH), a wholly-owned subsidiary of Prudential Financial, Inc. (PFI). In July 2013, the two parties signed a life insurance joint venture agreement.

The company began operations in India on September 1, 2008, and now has a pan-India presence through a variety of distribution channels that have been tailored to meet the unique insurance needs of various consumer segments. It is also dedicated to providing its consumers with protection and sound financial guidance.

Key Highlights Of The Company

Premium UnderwrittenRs. 1228.06 Crores (2019-20)
Equity Share Capital374.06 (As On March 31, 2020)
Solvency Ratio3.50 (March 2020)
Number Of Branches135
Number Of Employees2208
Assets Under ManagementRs. 6,022,45 Crores
Number Of Lives Secured2.2 Millions+
Recent Awards & Accolades
  • Pride Of The Nation Award
  • Sales Champion Award
  • Skoch Order-Of-Merit
  • Golden Star Award
  • Digital Industry Awards
  • Times Network Award
  • ISO Certification (ISO/IEC 27001:2013 Certified)

What Kinds Of Life Insurance Plans Does Pramerica Offer?

Customers of Pramerica Life Insurance can choose from a variety of life insurance plans as follows:

1. Pramerica Life Protection Plans

Pramerica Life Insurance provides the following plans as Protection Plans:

Name Of The PlanEntry AgeCoverage Amount
Pramerica Life Saral Jeevan Bima18 To 65 YearsRs. 5,00,000 To Rs. 25,00,000
Pramerica Life TruShield18 To 55 YearsRs. 5,00,000 To Rs. 50 Crores
Pramerica Life U-Protect18 To 55 YearsRs. 25,00,000 To No Limit
  • Pramerica Life Saral Jeevan Bima: It is an individual pure risk premium life insurance plan that is non-linked and non-participating. The plan provides inexpensive financial security for you and your family. It also gives you the choice of choosing your policy term from 5 to 40 years, depending on your protection needs.

  • Pramerica Life TruShield: Pramerica Life TruShield is a plan designed to meet your family’s financial needs in the event that you are no longer able to do so. This is a plan that offers both life insurance and a premium refund at maturity for the benefit of your loved ones.

  • Pramerica Life U-Protect: Pramerica Life U-Protect is a plan created only for you to ensure that your family is safe and comfortable even when you are not present. It’s a plan that offers simple life insurance coverage for the benefit of your loved ones at a low cost.

2. Pramerica Life ULIP Plans

Pramerica Life Insurance has four ULIP plans that provide customers with a combination of investment and protection.

Name Of The PlanEntry AgeCoverage Amount
Pramerica Life Wealth Enhancer1 To 70 Years

For 1 To 45 Years Age:

Option A: 10 X SP

Option B: 1.25 X SP

For 46 Years & Above:

Option A: NA

Option B: 1.25 X SP

Pramerica Life Wealth Maximiser90 Days To 65 Years1.25 X Top-Up Premium
Pramerica Life Wealth+ Ace90 Days To 65 Years1.25 X Single Premium
Pramerica Life Smart Wealth+8 To 55 Years7 X Annualized Premium To 10 X Annualized Premium
  • Pramerica Life Wealth Enhancer: It’s a non-participating unit-linked single premium life insurance plan. You only need to pay once and you can enjoy benefits for up to 20 years.

  • Pramerica Life Wealth Maximiser: The Pramerica Life Wealth Maximiser is a non-participating unit-linked life insurance plan. You can also choose a suitable life cover based on your preferred degree of protection from a variety of sum assured alternatives based on your age at admission.

  • Pramerica Life Wealth+ Ace: Pramerica Life Wealth+ Ace, a single premium unit-linked insurance plan, helps you reach your goals by providing investment options, ensuring a financially secure and protected future for you and your loved ones. You only have to put money into the plan once, and you’ll get a lot of benefits over the course of the policy’s term.

  • Pramerica Life Smart Wealth+: Pramerica Life Smart Wealth+ is a non-participating unit-linked life insurance plan that helps you build wealth for your planned life milestones. You can also pick between a regular or limited premium payment period.

3. Pramerica Savings Plans

Pramerica Life Insurance offers seven savings plans, each of which is tailored to help you save for a better future or a specific objective.

Name Of The PlanEntry AgeCoverage Amount
Pramerica Life Secure Savings Plan5 To 60 Years11 X Annualized Premium
Pramerica Life Smart Income8 To 60 Years11 X Annualized Premium
Pramerica Life Smart Assure8 To 60 YearsRs. 75,000 To No Limit
Pramerica Life Flexi Cash8 To 60 Years1,70,000 & 2,00,000 (Minimum)
Pramerica Life Smart Cash Protect12 To 55 YearsRs. 1,25,000 To No Limit
Pramerica Life Roz Sanchay8 To 50 YearsRs. 80,000 To Rs. 5 Crores
Pramerica Life Magnum Assure18 To 55 YearsAnnualized Premium X Policy Term X Death Benefit Multiple
  • Pramerica Life Secure Savings Plan: Pramerica Life Secure Savings Plan is an endowment life insurance plan that is non-linked and non-participating. You can also combine a premium payment term and a policy term to meet your financial goals.

  • Pramerica Life Smart Income: Pramerica Life Smart Income is a non-participating guaranteed annual income plan that is tailored to your specific financial needs. This plan’s Guaranteed Annual Income benefits ensure a regular income stream for you and your family, while the Death Benefit ensures financial stability for your loved ones when you are no longer able to care for them.

  • Pramerica Life Smart Assure: Pramerica Life Smart Assure is a non-linked, non-participating endowment life insurance product that lives up to its name. Guaranteed Maturity and Death Benefit are included in the plan, so you know precisely what you’ll get from the start.

  • Pramerica Life Flexi Cash: Pramerica Life FLEXI CASH is a non-linked participating endowment life insurance plan that lets you tailor the benefits to meet your specific financial needs. The plan also allows you to customize your payment term and maturity date to match your specific financial needs, allowing you to achieve your financial objectives.

  • Pramerica Life Smart Cash Protect: Pramerica Life Smart Cash Protect is a participating endowment life insurance plan that is not connected to the stock market. It’s an all-in-one plan that’s designed to cover both your short-term and long-term expenses. In addition to lump-sum payouts, this plan provides a continuous source of income in the form of annual cash benefits.

  • Pramerica Life Roz Sanchay: Pramerica Life Roz Sanchay is an endowment life insurance plan that is non-linked and non-participating. It’s a savings and protection plan with guaranteed benefits, which means you’ll know what your maturity benefits will be when you buy the policy.

  • Pramerica Life Magnum Assure: Pramerica Life Magnum Assure is a non-linked, non-participating endowment life insurance plan that provides you with two advantages to help you meet your future financial demands and ensure a secure future for you and your family. With insurance durations of 10 or 15 years, you can choose this plan for your medium and long-term goals.

4. Pramerica Child Insurance Plans

Pramerica Life Insurance offers only one child progress plan, Pramerica Life Rakshak Gold, which is a very progressive plan.

Name Of The PlanEntry AgeCoverage Amount
Pramerica Life Rakshak Gold18 To 53 YearsRs. 75,000 To Rs. 5 Crores
  • Pramerica Life Rakshak Gold: It’s an endowment policy that pays out a death benefit to your child if something tragic occurs to you. It also gives a maturity benefit if the policyholder is living.

5. Pramerica Health Plans

Pramerica Life Cancer + Heart Shield is the only health insurance plan offered by Pramerica Life Insurance.

Name Of The PlanEntry AgeCoverage Amount
Pramerica Life Cancer+Heart Shield18 To 65 YearsRs. 5 Lakhs To Rs. 50 Lakhs
  • Pramerica Life Cancer+Heart Shield: This plan provides financial protection for you and your family in the event of a catastrophic disease such as cancer or other heart-related illness. The plan provides comprehensive coverage by covering different stages of cancer and heart conditions.

6. Pramerica Life Retirement Plans

Pramerica Life Insurance Company offers only one type of retirement plan as discussed below:

Name Of The PlanEntry AgePurchase Price
Pramerica Life Saral Pension40 To 80 Years

Minimum: The company will accept any amount, which in turn will result in the minimum annuity amount.

Maximum: No limit

  • Pramerica Life Saral Pension: Pramerica Life Saral Pension is a non-linked, non-participating individual immediate annuity plan that invests your money in an annuity to provide you with a guaranteed regular income in retirement. You only have to pay once to ensure a steady stream of income for the rest of your life.

7. Pramerica Life Group Plans

Pramerica Life Insurance offers the following nine group insurance plans:

Name Of The PlanEntry AgeCoverage Amount
Pramerica Life Group COVID-19 Shield91 Days To 65 YearsRs. 25,000, Rs. 50,000, Rs. 75,000, & Rs. 1,00,000
Pramerica Life Group Traditional Employee Benefit Plan18 To 79 YearsRs. 5,000 Per Member
Pramerica Life Group Health Kavach14 To 65 Years

Minimum: Rs. 1,000 Per Life


Accidental Benefits: Rs.3 Crore Per Life

Critical Illness Benefit: Rs.50 Lakhs Per Life

For all benefits combined together, maximum sum insured shall be restricted to Rs.3 crores per life, subject to board approved underwriting policy.

Pramerica Life Sampoorna Suraksha14 To 68 YearsRs. 1,000 (Per Member) To Rs. 2,00,000 Per Member
Pramerica Life Group Term Care18 To 63 YearsRs. 5,000 (Per Member) To Rs. 2,00,000 (Per Member)
Pramerica Life Group Term Plan18 To 75 Years


Rs. 5,000 (Per Member)

Rs. 1 Crore (Per Scheme)

Maximum: No Limit

Pramerica Life Sarv Suraksha18 To 65 YearsRs. 1,000 To Rs. 2,00,000
Pramerica Life Group Credit Life+14 To 65 YearsRs. 10,000 To No Limit
Pramerica Life Dengue + Group Shield91 Days To 65 YearsRs. 10,000 (Per Life) To Rs. 50,000 (Per Life)
  • Pramerica Life Group COVID-19 Shield: Pramerica Life Group COVID-19 Shield is a traditional non-linked non-par fixed benefit one-year renewable group health product that protects you from the financial consequences of COVID-19 and helps you recover.

  • Pramerica Life Group Traditional Employee Benefit Plan: Group Traditional Employee Benefit Plan from Pramerica Life Group is a non-linked, non-participating, fund-based, variable insurance group policy given to employer-employee groups for providing financial security to employees as well as solutions for a better work environment. You can use this plan as an employer to provide employee benefits such as leave encashment and post-retirement medical benefits.

  • Pramerica Life Group Health Kavach: This is a traditional non-linked, non-participating, one-year renewable fixed benefit group health insurance plan. The product is intended to deliver health advantages to your high-performing staff and/or devoted consumers.

  • Pramerica Life Sampoorna Suraksha: Pramerica Life Sampoorna Suraksha is a complete protection plan that provides financial security to members of the group covered by the insurance against the danger of death.

  • Pramerica Life Group Term Care: Pramerica Life Group Term Care is a non-participating, non-linked single premium group term life insurance plan that provides full financial protection against the risk of death to the policyholders.

  • Pramerica Life Group Term Plan: The Pramerica Life Group Term plan is a yearly renewable term life insurance plan that helps your group and their families deal with the uncertainties that can arise when an insured person passes away.

  • Pramerica Life Sarv Suraksha: Pramerica Life Sarv Suraksha is a yearly renewable group term micro-insurance product designed to provide financial security to members of microfinance institutions, self-help groups, co-operative banks, non-governmental organizations (NGOs), and other similar organizations that operate in the social sector.

  • Pramerica Life Group Credit Life+: Pramerica Life Group Credit Life+ is a group life insurance plan with a decreasing term that helps you protect yourself from your customers’ debt responsibilities. The plan comes with two options: Plan A and Plan B.

  • Pramerica Life Dengue + Group Shield: It is a plan that aims to provide coverage against the financial impact of several illnesses as well as the recovery process. The plan comes with 4 cover combinations, namely Option 1: Dengue Shield, Option 2: Dengue & Chikungunya Shield, Option 3: Dengue & Severe Malaria Shield, and Option 4: Dengue, Chikungunya & Severe Malaria Shield.

Why Should Pramerica's Life Insurance Plans Be Considered?

Below are the reasons why you should consider Pramerica’s Life Insurance plans:

Diverse Range Of Products

Pramerica Life Insurance offers a diverse range of life insurance products, including term insurance, unit-linked insurance products (ULIPs), savings, health, child progress, and group plans. These plans are tailored to meet the specific needs of each individual. One might select a life insurance plan that best meets his or her needs while remaining within his or her budget.

Hassle-Free Services

Pramerica Life Insurance has made acquiring their coverage a simple and straightforward affair. The organization has a fully trained team to assist you at any stage of the process, whether it is pre-purchase or post-purchase, which includes service, renewals, and claim processing.

Solid Solvency Ratio

A company’s capacity to satisfy its financial obligations is measured by its solvency ratio. According to the IRDAI, every insurer must maintain a health solvency ratio of 1.5. Pramerica Life Insurance satisfies the IRDAI norms with a solid solvency ratio of 3.50, as of March 2020.

Premium Payment Options

The company provides you with the option of paying your policy’s premium both online and offline. You are free to select whatever is most acceptable for you.

Tax Benefits

The corporation also provides you with an income tax deduction under sections 80C and 10 D of the Income Tax Act.

How Are Pramerica Life Insurance Premiums Calculated?

To find out the precise premium amount for Pramerica Life Insurance Plans, go to the company’s official website.

Let’s have a look at a few examples to assist you to understand!

NameAgeGenderName Of The PlanCoverage Amount



Neha30FemalePramerica Life Cancer + Heart ShieldRs. 15 LakhsRs. 2013
Ritesh28MalePramerica Life Cancer + Heart ShieldRs. 20 LakhsRs. 4772
Kiran40FemalePramerica Life Cancer + Heart ShieldRs. 25 LakhsRs. 4928
Uday50MalePramerica Life Cancer + Heart ShieldRs. 24 LakhsRs. 30,665

How Do I Purchase Pramerica Life Insurance Plans?

You need to follow the below-mentioned steps to purchase Pramerica Life Insurance plans:


  1. Visit the official website of the company.

  2. Click on the “Life Insurance Plans” tab and click the type of plan you wish to purchase.

  3. Click on “Calculate Premium” and fill in all the essential details.

  4. The premium details will be displayed on the screen.

  5. Pay for the premium and your policy details will be sent to your registered mail address.


If you want to purchase the coverage in person, visit a Pramerica branch near you. You will be provided with all of the essential insurance information when you arrive at the location.

However, if you continue to have issues, you can contact Probus Insurance for assistance.

How Do I File A Claim With Pramerica Life Insurance Plans?

On Pramerica Life Insurance’s official website, go to the claims page. To notify the claim, fill out all of the required personal and policy information. Pramerica Life Insurance’s claims officer will investigate the claim’s validity and contact the claimant to request documents. On the Pramerica Life Insurance website, you will be provided a link to upload all of your essential documents. Within 30 days of receiving the last document, Pramerica Life Insurance makes a decision on all insurance claims. If more time is required for any reason, you will be informed.

Frequently Asked Questions

Here are the frequently asked questions about Pramerica Life Insurance:

There are numerous advantages to getting a Pramerica Life Insurance Policy when you are young. At an early age, the premium is relatively modest. You can choose the policy’s maximum term, which will boost your life insurance and endowment benefits over time.

You can phone the company’s claim department at 0124-4697072 to inquire about the status of your policy claim. The operational hours range from 9:00 a.m. to 6:00 p.m. You can also check claim statistics by sending an email to

The following is a list of some of the basic documentation required for accidental death claims with Pramerica Life Insurance:

  • FIR report
  • Police inquest report
  • Final report of the police investigation
  • Post-mortem report

Pramerica Life Insurance has a distinct Prahari Initiative for the armed services, including Ex-Servicemen as sales reps. The program has policies that address the requirements of army troops.

The essential details required in the Pramerica Life Insurance premium calculator are your date of birth, gender, policy term, and sum assured. Smoking habits, career type, annual pay, and educational background are among the secondary details.