Why Use Pramerica Life Insurance Premium Calculator?
Calculating a premium is an important aspect that influences the customer's decision of buying or investing in a policy. Pramerica Life Insurance Premium Calculator helps determine if the policy lies within their budgetary constraints.
The premium calculator also saves time and effort. The customers can use the calculator independently and free of charge online.
How to Use Pramerica Life Insurance Premium Calculator?
To use the Pramerica Life Insurance premium calculator, follow these steps:
- Visit the company's official website
- Select your type of insurance plan under Life Insurance tab
- Go to your preferred plan page
- Now click on calculate premium
- Provide details like name, gender and contact information
- Enter base policy information
- Click on calculate
The customers shall see the premiums and other details displayed on the screen. You can also try different combinations of values to choose an adequate policy that is affordable.
Advantages of Using Pramerica Life Insurance Premium Calculator
Listed below are the advantages of using the Pramerica Life Insurance Premium Calculator:
- A hassle-free tool. The premium calculator is available for use on the company website and can be used by the customers without any problems.
- Saves a trip to the branch office. The customer does not need to visit the branch office to get the details of his policy. Instead, he can simply go online and collect any information he needs.
- Free of cost. The company does not charge the customers to use the calculator. It is a free device.
- Gives prior information regarding premium rates. This makes the customer aware of the investment he is expected to make so he can plan his finances.
- A premium calculator is a digital tool. Hence there is no scope for errors while using it.
The following information must be supplied to the Pramerica Life Insurance Premium Calculator to calculate the premium accurately. All the data entered must be genuine. Only then will the calculator be able to make correct assumptions regarding the premium amounts.
- Personal Information: This information includes the name, date of birth, contact information, etc., of the customer.
- Premium Term: This is the information regarding how long the customer wants to remain invested in a particular policy.
- Income: The customer must input his monthly income to correctly determine the premium amount that he would be able to pay up.
- Premium Payment Term: This information determines the duration that premiums will be paid for. The customer may choose between single, 5 years,10 years payment terms, etc.
- Sum Assured: This is the amount of money that the beneficiaries will receive in the event that the policyholder may pass away unexpectedly.
Benefits of Buying Pramerica Life Insurance Plan
Some of the benefits of buying life insurance plans offered by Pramerica are:
- Death Benefits. The plan provides death benefits to the beneficiaries in the event of the death of the policyholder. This secures the loved ones of the policyholder.
- Good Returns on Investment. Investing in Pramerica Life Insurance Plan provides the policyholder with a steady buildup of return on his investments that lead to the generation of a large corpus.
- Tax Benefits. Upon investment in the life insurance plan, the policyholder can claim tax benefits under Section 80C.
- Additional Benefits. A policyholder can claim additional benefits by purchasing and adding riders to his insurance plan. For example, an accident benefit death rider may be added to a life insurance plan, giving additional benefits if the policyholder is involved in an accident.
DHFL Pramerica Life Insurance Plan Premium Rates
Listed below are the factors that directly affect the premium rates of a life insurance plan:
- Age: Purchasing a life insurance plan earlier in life guarantees a better premium rate as premium rates increase as age advances.
- Gender: Women can avail better premium rates than men.
- Occupation: Certain individuals who are involved in high-risk occupations may be expected to pay higher premiums, e.g., sailors, firemen, miners, etc.
- Sum Assured: A higher Sum Assured automatically attracts lower premiums.