A term plan is perfectly suited to protect the financial future of the family in the absence of the breadwinner. Pramerica Life TruShield has been conceptualized on the same grounds to provide the policyholder with a large sum assured to realize the family's desires and aspirations. It also helps to liquidate the existing financial obligations, if any, after the unfortunate demise of the insured.
+Tax benefit is subject to changes in tax laws.
++All savings are provided by the insurer as per the IRDAI approved insurance plan. Standard T&C Apply
The Pramerica Life TruShield policy is a non-linked non-participating term, pure risk life insurance plan providing a return of premium on survival. The policy delivers comprehensive benefits with additional cover and multiple options to pay the premium to suit the policyholder’s convenience.
The table below shows the eligibility criteria of Pramerica Life TruShield:
Parameters |
Description |
Entry Age |
Minimum: 18 years Maximum: 7 years Policy: 50 years 10 Years Policy Term: 55 years (For Regular Pay, Maximum Entry Age is 50 years) 12 Years Policy Term: 50 years 15 Years Policy Term: 50 years 20 Years Policy Term: 45 years |
Maturity Age |
Maximum: 65 years |
Policy Tenure |
7, 10, 12, 15, or 20 years |
Premium Paying Term |
7 years Policy Term: Regular Pay 10 Years Policy Term: Single Pay, 5-Pay, or 10-Pay 12 Years Policy Term: 12-Pay 15 Years Policy Term: Single Pay, 7- Pay, or 12 -Pay 20 Years Policy Term: Single Pay, or 10- Pay |
Premium Paying Mode |
Single, Annual, or Monthly |
Grace Period |
30 days |
Sum Assured |
Minimum: Rs 5 Lakh
Maximum: Rs 50 Crore (Subject to the underwriting policy)
|
The following are the key benefits of Pramerica Life TruShield:
The beneficiary receives the sum assured on the unfortunate demise of the policyholder during the policy term, provided the Pramerica Life TruShield Policy status is active.
Death Benefit Options: The comprehensive benefit is offered to the policyholder in 2 options:
The total of the paid premium is payable to the policyholder on survival, based on the Premium Payment option, and after deduction of any extra premium and taxes.
The premium paid and benefit received in the financial year is tax-exempt under Sections 80C & 10(10D) of the Income Tax Act, 1961
Note: Tax benefit is subject to changes in tax laws
Pramerica Life TruShield premium is payable as single, limited, and regular pay modes, according to the convenience and preference of the policyholder. The minimum annual premium payable is as below:
Level Benefit Option:
Reducing Benefit Option:
The following is the list of documents required to buy Pramerica Life TruShield online
This plan is not open to purchase online, but the policyholder can get an idea of the premium by using the Pramerica Life TruShield calculator at the insurer portal. The purchase proper involves a few steps, and the assistance of the agent may be sought with an online request.
A filled-in proposal form with supporting documents and the payment of the first premium online completes the process.
The exclusion in the policy is suicidal death. For suicidal death of the insured within the first 12 months of the inception, or the time of policy revival, the insurer obligation is limited. The payable amount is higher of 80% of the total paid premium (fewer taxes and any underwriting extra) or the surrender value till the date of death.