Pramerica Life Traditional Plans

Pramerica Life Insurance, headquartered at Gurgaon, India was launched in the year 2008. Pramerica Life Insurance Company along with as its major stake holder, holding bout 74% of the company’s shares has evolved as one of the major insurance service providers in India. The company offers a variety of products in the form of term plans, Child Plans, Savings and Investment Plans which are available in both conventional or ULIPs form and pension plans. With about 138 branches spread all over India and over 2586 employees, the company as managed to strive as one of the best insurance service provider to the people of India.

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What are Traditional / Investment Plans

Traditional plans, also called Conventional Insurance Plans are plans where money is invested as per the guidelines laid down in the Insurance Act. The whereabouts of the invested premium is not known to the policyholder. The policyholder is simply promised certain benefits payable on death, maturity or as money back. Traditional Investment Plans have some of the basic features which are mentioned below:

  • These plans are issued for a longer term perspective and money cannot be withdrawn from the plans.

  • In case of stopping the premium payment, the plan becomes paid-up if at least three full years’ premiums have been paid. A paid-up plan has a reduced Sum Assured and the policyholder has a choice to either run the plan at the reduced coverage or surrender the plan.

  • The plans may be offered as participating or non-participating plans. Participating plans are entitled to participate in the company’s profits and earn bonuses which are not true for non-participating plans.

  • The plans may be issued either as Endowment Plans or Money Back Plans

Pramerica Life Traditional / Investment Plans

Pramerica Life Insurance Company offers various types of Traditional / Investment Plans to its customers with attractive features and benefits. Here is the detailed list of plans along with their respective features and benefits.

Pramerica Life AajeewanSamriddhi:

A participating insurance plan with the following benefits:

  • Offers whole life cover till the age of 99.

  • Offers guaranteed accrued additions as well as bonuses at the time of maturity of the plan.

  • Offers survival benefits consisting of accrued reversionary bonuses and accrued annual guaranteed additions. These benefits are paid to the policy holder once he reaches 65 years of age.

  • Offers maturity benefits consisting of Basic Sum Assured and Total bonus. These benefits are paid to the policy holder once he reaches 99 years of age.

  • Offers convenient and flexible premium payment term of 15 years or 20 years, dependinguponthe suitability of the customer.

  • Offers death benefits in case of untimely death of the plan holder. The benefits to be given depend upon the total policy term as well as the expired term of the policy.

Eligibility:

Parameters Minimum Maximum
Age 8 years 50 years for 15 year policy 45 years for 20 year policy
Maturity Age Nil 99 years
Premium Payment Term 15 years and 20 years
Premium Paying Mode Annually, Semi Annually and monthly
Premium Amount Rs.5500 Varies upon age at entry, minimum premium and basic Sum Assured
Sum Assured Rs.7500 No Limit

Pramerica Life Flexi Cash:

A non-participating endowment plan with the following benefits:

  • Offers the flexibility to pre pone the maturity date during the Flexi Benefit period.

  • Offers bonus additions as well as guaranteed loyalty premium of 10% commencing from the second year of the plan issuance.

  • Offers limited premium payment term, whereby, the premium has to be paid for 5, 10 or 15 years.

  • In case of death, higher of the Sum assured or 10 times the annual premium (for entry age below 45 years) or 7 times the annual premium (for entry age above 45 years) is paid including the Guaranteed Additions subject to a minimum of 105% of all premiums paid till the date of death.

  • On maturity, the Sum Assured along with accrued non-guaranteed reversionary bonuses and terminal bonuses, if any is paid to the policyholder.

Eligibility:

Policy Term

15 year 25 year 35 years
Minimum Age 8 8 8
Maximum Age 60 50 40
Maximum Maturity Age 75 years
Policy Term 15 25 30
Minimum Sum Assured Rs.170000 RS.200000 Rs.200000
Minimum Premium Rs.17000
Premium payment term 5 years 10 years 15 years
Premium Payment modes Yearly, half-yearly and monthly

Pramerica Life Magnum Assure:

A non-participating endowment plan offering the following benefits:

  • On maturity, the Sum Assured is paid to the policyholder.

  • Offers regular monthly income equal to a payout period which begins from the month of death of the policyholder or the maturity date of the plan.

  • Payouts can be opted for in the form of a lump sum payment or as a monthly regular income by the nominee in case of death of the buyer.

  • In case of death, higher of the Sum assured or 10 times the annual premium is paid including the Guaranteed Additions subject to a minimum of 105% of all premiums paid till the date of death.

  • Offers Loan facilities to the policy holder in case of financial emergencies.

  • Tax benefits as per the prevailing Tax laws are offered on paid premiums and received benefits.

Eligibility:

Parameters Minimum Maximum
Age 18 years 55 years for 10 year policy 50 years for 15 year policy
Maturity Age Nil 65 years
Premium Payment Term Regular Pay
Premium Paying Mode Annually and monthly
Premium Amount Rs.5500 Varies upon age at entry, minimum premium and basic Sum Assured
Payout period 120 months for 10 year policy 180 months for 15 year policy
Policy Term 10 and 15 years

Pramerica Life Premier Gain:

A participating endowment pan with the following features:

  • On maturity or death, the Sum Assured along with accrued non-guaranteed reversionary bonuses and terminal bonuses, if any is paid to the policyholder or to the nominee of the plan.

  • In case of death, higher of the Sum assured or 10 times the annual premium is paid including the Guaranteed Additions subject to a minimum of 105% of all premiums paid till the date of death.

  • Offers Loan facilities to the policy holder in case of financial emergencies.

  • Tax benefits as per the prevailing Tax laws are offered on paid premiums and received benefits.

  • Offers guaranteed bonus additions as well as comprehensive insurance cover.

Eligibility:

Policy Term

Policy Term 10 year 15 year 20 year 25 year
Minimum Age 8 years 3 years 91 days 91 days
Maximum Age 50 years 55 years 50 days 45 days
Minimum Premium Rs.75000 Rs.50000 Rs.50000 Rs.50000
Premium payment term 5,7 years 7, 10 years 7, 10 and15 years 10, 15 and 20 years
Premium Payment Mode Annually Annually, Semi Annually or Monthly
Maximum Maturity Age 70 years
Minimum Sum Assured Rs.350000
Maximum Sum Assured No Limit
Maximum premium No Limit

Pramerica Life Roz Sanchay:

A non-participating endowment plan with the following benefits:

  • On maturity, 150% of the Sum Assured along with accrued non-guaranteed reversionary bonuses and terminal bonuses, if any is paid to the policyholder.

  • In case of death, higher of the Sum assured or 10 times the annual premium (for entry age below 45 years) or 7 times the annual premium (for entry age above 45 years) or 150% of the basic sum assured is paid including the Guaranteed Additions subject to a minimum of 105% of all premiums paid till the date of death.

  • Offers Loan facilities to the policy holder in case of financial emergencies.

  • Tax benefits as per the prevailing Tax laws are offered on paid premiums and received benefits.

  • Offers guaranteed bonus additions as well as comprehensive insurance cover.

  • Offers limited premium payment term, whereby, the premium has to be paid for 12 or 16 years.

Eligibility:

Parameters Minimum Maximum
Age 8 years 50 years for 16 year policy 45 years for 21 year policy
Maturity Age Nil 66 years
Premium Payment Term 12 years for 16 year policy 16 years for 21 year policy
Premium Paying Mode Annually, Semi Annually and Monthly
Sum Assured Rs.1 lakh for 16 year policy Rs.2 lakhs for 21 year policy Rs.5 Crore

Pramerica Life Sahajsurakhsha:

A participating plan which offers the following benefits:

  • Offers whole life cover till the age of 75.

  • Offers guaranteed accrued additions as well as bonuses at the time of maturity of the plan.

  • Offers survival benefits consisting of accrued reversionary bonuses and accrued annual guaranteed additions. These benefits are paid to the policy holder once he reaches 75 years of age.

  • Offers maturity benefits consisting of Basic Sum Assured and Total bonus. These benefits are paid to the policy holder once he reaches 75 years of age.

  • Offers convenient and flexible premium payment term of 15 years or 20 years, dependingupon the suitability of the customer.

  • Offers death benefits in case of untimely death of the plan holder. The benefits to be given depend upon the age of the policy holder at the time of plan issuance.

Eligibility:

Parameters Minimum Maximum
Age 18 years 50 years
Maturity Age 75 years
Premium Payment Term 15 and 20 years
Premium Paying Mode Annually, semi-annually, quarterly and monthly
Premium Amount Rs.6144 Varies upon age at entry, minimum premium and premium payment term
Basic Sum Assured Rs.100000 No Limit

Pramerica Life Smart Assure:

A non-participating endowment insurance plan with the following features:

  • Offers maturity benefits consisting of Maturity Sum Assured and Maturity additions.

  • In case of death, higher of the Sum assured or 11 times the annual premium (for entry age below 45 years) or 7 times the annual premium (for entry age above 45 years) is paid including the Guaranteed Additions subject to a minimum of 105% of all premiums paid till the date of death.

  • Offers Loan facilities to the policy holder in case of financial emergencies.

  • Tax benefits as per the prevailing Tax laws are offered on paid premiums and received benefits.

Policy Term

10 year 15 year 20 year
Minimum Age 8 8 8
Maximum Age 60 55 50
Maximum Maturity Age 70 years
Policy Term 10 15 20
Minimum Sum Assured Rs.75000 for limited pay and Rs.100000 for regular pay, subject to a maximum of Rs.2500000.
Minimum Premium Rs.6000
Maximum Premium Depends upon the maximum sum assured
Premium Payment modes Yearly, half-yearly, quarterly and monthly

 

Pramerica Life Cash Protect:

A participating endowment plan with the following benefits:

  • On maturity, a survival benefitalong with Bonus Income and guaranteed income amounting to 6% of the sum assured is paid to the policyholder.

  • A maturity benefit up to 50% of the sum assured along with bonus is paid.

  • In case of death, higher of the 50% of the Sum assured or 11 times the annual premium is paid including the Guaranteed Additions subject to a minimum of 105% of all premiums paid till the date of death.

Eligibility:

Policy Term

12 year 15 year 20 year
Minimum Age 23 20 18
Maximum Age 55 55 50
Maximum Maturity Age 85 90 90
Premium Payment Term 12, 15 and 20 years
Minimum Sum Assured Rs.125000
Maximum Sum Assured No Limit
Minimum Premium Rs.12000
Maximum Premium No Limit
Premium Payment modes Yearly, half-yearly and monthly

Pramerica Life Smart Income:

A non-participating annual income plan with the following benefits:

  • On maturity, an annual payouts for a duration equal to the payout period.

  • Payouts can be opted for in the form of a lump sum payment or as a regular income by the nominee in case of death of the buyer.

  • In case of death, higher of the Sum assured or 11 times the annual premium is paid including the Guaranteed Additions subject to a minimum of 105% of all premiums paid till the date of death.

  • Offers Loan facilities to the policy holder in case of financial emergencies.

  • Tax benefits as per the prevailing Tax laws are offered on paid premiums and received benefits.

Eligibility:

Parameters Minimum Maximum
Age 8 years 55 years
Maturity Age 18 years 65 years
Policy Term 7 years 20 years
Premium Payment Term Varies
Premium Paying Mode Annually, Semi Annually and monthly
Payout Period Equal to premium payment term
Premium Amount Rs.24000 No Limit
Sum Assured 11 times the annualized premium

Pramerica Life Smart Money Back:

A participating endowment plan offering the following benefits:

  • Offers maturity benefits consisting of Basic Sum Assured and Total bonus.

  • In case of death, higher of the Sum assured or 11 times the annual premium is paid including the Guaranteed Additions subject to a minimum of 105% of all premiums paid till the date of death.

  • Offers Loan facilities to the policy holder in case of financial emergencies.

  • Tax benefits as per the prevailing Tax laws are offered on paid premiums and received benefits.

Eligibility:

Policy Term

16 year 20 year
Minimum Age 8 8
Maximum Age 49 45
Maximum Maturity Age 65  
Premium Payment Term 5 or 7 7 or 10
Minimum Sum Assured Rs.120000
Maximum Sum Assured No Limit
Minimum Premium Rs.15000
Maximum Premium No Limit
Premium Payment modes Yearly, half-yearly and monthly

Pramerica Life E Save:

An online non participating endowment plan with the following benefits:

  • Offers maturity benefits as well as death benefits.

  • Offers guaranteed additions.

  • Offers Loan facilities to the policy holder in case of financial emergencies.

  • Tax benefits as per the prevailing Tax laws are offered on paid premiums and received benefits.

  • Is available online.

Eligibility

Policy Term

10 year 15 year 20 year
Minimum Age 18 18 18
Maximum Age 55 50 40
Maximum Maturity Age 65 years
Premium Payment Term Regular pay
Minimum Sum Assured Varies upon age at entry, minimum premium and premium payment term
Maximum Sum Assured No Limit
Minimum Premium Rs.20000
Maximum Premium No Limit
Premium Payment modes Yearly, half-yearly, quarterly and monthly

Applying for a Traditional / Investment Plan from the company:

Online

The company offers specific plans which are available online only. The customer only needs to log into the company’s website, choose the required plan, choose the coverage and provide the details. The premium will be determined using the filled details. The customer then needs to pay the premium online through credit card, debit card or net banking facilities and the policy will be issued

Intermediaries

Plans which are not available online can be purchased from agents, brokers, banks, etc. where the intermediaries help with the application process.

Applying For Traditional Insurance through PolicyBazaar

  • On the PolicyBazaar homepage, click on Traditional Insurance under the Personal tab.

  • Click New Quotes to compare and choose from top insurance providers.

  • Fill your date of birth (DOB), whether you are a smoker/non-smoker, and the payout amount. On the basis of your payout amount, you will get an estimate of your premium. Next click Continue.

  • Fill in your name, email address, city, country code, and mobile number. Click Continue.

  • You will be taken to the Life Insurance quotes page where you will see life insurance quotes of more than 10 insurers. Next, choose the plan as per payment schedule – One Time Payout and Monthly Payout Plans.

  • After reviewing and comparing each life insurance quote, click the premium amount to buy the desired plan.

  • You will see a pop-up on the screen which will give you an overview of the chosen plan like premium, plan features, exclusions, additional riders, etc. Click Proceed.

  • This will take you to the insurer’s website. Fill in the necessary details to buy the plan.

Investment Plan
Disclaimer: Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by an insurer.
Investment Plan 2
Average Rating
(Based on 22 Reviews)
Investment Plan 3

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Pramerica Life Traditional Plans Reviews & Ratings

4.2 / 5 (Based on 22 Reviews)
(Showing Newest 10 reviews)
Nandini
Alapur, July 07, 2016
Traditional Plan
Traditional insurance plan i have which has less investment but the returns are high. Policy coverage is high and claims are good which easily cleared because of fast service. Online service is also easy and simple to access. Renewal and updates are easy to done on website.
Prashant
Agartala, June 28, 2016
Good
My Traditional insurance plan is very good which has low premiums. Service is damn good which provided by the executives of the company. Policy coverage is good and claims are simple to sanctioned due to fast service and hassle free documentation too. I like the insurance policy.
Bhupesh
Dwarka, May 18, 2016
Damn Good
The traditional policy plan i have from dhfl pramerica life insurance which is really nice plan. The premium is low and the policy coverage is around 92% and claims are high. Services is fast, so any work is done without waiting and no paper work. Good policy which save taxes. Daily updates send to me regularly. Fully satisfied.
Nakul
Ludhiana, May 18, 2016
Best Plan
I have dhfl pramerica traditional plan. The policy coverage is 87% and the claims are high which can be easily sanctioned. The service provided by the executives and staff members are fast and responsive. Nice policy plan which save taxes also. Good behaviour of executives and staff members is very nice. Best investment.
Mankaran
Gwalior, May 18, 2016
Nice Insurance
I have traditional insurance policy plan which i buy from dhfl prameirca life insurance. The policy coverage is 89% and the claims are good. The premiums are low and the claiming process is easy and sanctioned in short time period. The policy is good future investment and it saves taxes too.
Lakshay
Pune, May 18, 2016
Good Investment
Superb policy i buy i.e., dhfl pramerica traditional plan. The returns are good ~Rs.38 L in very low premiums ~Rs.10 K quarterly per year. Service is fast which facilitate by executives and all company members with nice behaviour and quick response. Daily updates are send to me regularly.
Kunal
Jhansi, May 18, 2016
Marvelous
My dhfl pramerica traditional plan is good with great facilities. Superb plan with good benefits, your service is fast and on time. Premiums are low and the policy coverage is 90% with good claims. Executives and staff members facilitate the services very nicely. Good experience, It save my taxes too. I like the plan.
Jiten
Howrah, May 18, 2016
Average Policy
The dhfl pramerica traditional plan i have is an average policy. The premium is good and the returns are okay. Services is bit slow and the behaviour of the staff members is good. Web services are good and working properly. Manageable plan.
Harish
Agalpur, May 18, 2016
Future Security
The dhfl pramerica traditional plan i have which provide me best service and good returns in low investment. The premiums are low and the policy coverage is 87% with high claims. The behaviour is good of executives and staff members. Good future investment which reduces taxes too. Really nice work guys. I like the policy.
Gaurav
Patiala, May 18, 2016
High Coverage
I own dhfl pramerica traditional plan. Plan is good and premium is low. Policy coverage is high ~90% and payback returns good too. Claiming amount is Rs.41 L. Service is fast like super sonic. The daily updates are mailed to me time to time. The service facilitate by the executives and staff members is very good and the behaviour is also nice.
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