Pramerica Life Trushield

Pramerica Life Trushield is a term life insurance plan offered by Pramerica life Insurance Limited which aims to provide financial protection to the policyholder’s family in case of any mishappening. It is a non-linked, non-participating term life insurance plan. In addition to covering the death benefit, it also aims to provide a return of premium to the policyholder.

Pramerica Life Trushield has different plan variants to choose from, and the buyer can select the one that suits him the most. The death benefit covered under this plan is also available with two options so that one can pick how they want their family to be covered in their absence. 

Pramerica Life Trushield plan is a perfect choice for anyone looking to protect their family’s financial outgoings at fair rates for when they not around to bear it. 

Eligibility Criteria of Pramerica Life Trushield

The following are the eligibility criteria of the policy

Eligibility Criteria

Details

Policy Term

7/10/12/15/20 years

Entry Age

Minimum- 18 years

Maximum-

For PT 7, 10, 12, 15 years-  50 years

For  PT 20 years- 45 years

Maturity Age

65 years

 

Premium Payment Term

 

7 years : 7-Pay

10 Years : 10-Pay/ 5-Pay/Single

12 Years: 12 –Pay

15 Years: 7-Pay/12-Pay/Single

20 years: 10-Pay/ Single

 

 

Return of Payment

All paid payments claimable at the end of the policy period when the entire tenure goes claim free.

Base Sum Assured

Min: Rs. 5 lakhs

Max: Rs. 5 crore; subject to underwriting

Premium Payment Mode

Monthly/Single/Annual

 

Payment option

For level cover (INR)

For reduced cover (INR)

Limited pay

6,460

6,010

Regular pay

14,425

12,705

Single pay

29,570

26,915

Benefits offered by Pramerica Life Trushield

The main benefit under the Pramerica Life Trushield is the death cover upon an unfortunate demise of the life assured. And there are two death cover options to choose from while selecting the policy plan of your choice.

But along with the death benefit, there are several key benefits linked to the Pramerica Life Trushield, and the same are discussed below in detail.

Death benefit

Before getting into the details of the death benefit, you should know that there are two death covers available while selecting the policy plan under Pramerica Life Trushield.

  • Level cover

The basic sum assured as the death benefit remains constant throughout the policy period if one picks the level cover under this plan.

  • Reducing cover

As you already may have got an idea from the name, the basic sum assured as the death benefit reduces over the policy period without any alterations in the premium paying value.

Details of the death benefit

There are variable death claims that one can make upon the unfortunate incident according to the premium payment option selected when purchasing the policy, the details of which are explained below.

  • For regular and limited pay option

For this premium payment option, the highest of the three values shall be paid as the death benefit considering the incident has taken place within the active policy period.

  • Ten times of the annual premium, or
  • Maturity sum assured, or
  • The absolute sum assured value payable upon death which will be different for level cover and reducing cover.

Absolute sum assured for level cover: the base sum assured chosen for the policy.

Absolute sum assured for reducing cover: the reduced amount in accordance with the passed policy tenure as applicable.

  • For single premium settlement

In case of the one time pay-out, the highest of the below-mentioned values shall be payable as the death benefit provided that the death has occurred within the active lifetime of the policy.

  • 125% of the single paid out premium, or
  • Maturity sum assured, or
  • The absolute sum assured payable upon death, the basic sum assured (in case of level cover), and the reduced sum assured amount (in case of the reduced cover option).

Additional Shield Cover Benefit

In addition to the death benefit, the additional shield cover is also applicable under Pramerica Life Trushield. But this benefit shall not be payable for the reduced cover option. And this amount shall vary according to the premium payment options chosen at the time of purchase.

Maturity benefit

Upon the survival of the life assured throughout the complete policy period, the insurer is liable to return the premiums as the maturity benefit. And it varies according to the premium payment option selected while applying for Pramerica Life Trushield. 

Tax benefits

Tax benefits under this plan are provided following the prevailing tax laws in the country, which are subject to changes with amendments in the existing laws.

“Tax benefit is subject to changes in tax laws. Standard T&C apply.”

Premium Illustration:

So, five bands designate ranges within which one can choose the base sum assured. And the premium payments also depend upon the bond under which your Base Sum Assured falls.

All of the five bands with their Sum Assured amount span are shared below in a tabular format. (The amounts entered are in INR.) 

Band 1

500,000 – 850,000

Band 2

850,001 – 12,50,000

Band 3

12,50,001 – 25,00,000

Band 4

25,00,001 – 50,00,000

Band 5

50,00,001 and above.

Premium Savings

The insurer offers premium discounts on the first policy year according to the commission of the first year. But the discount is only applicable to the policy buyers who are employees of the Pramerica Life Limited insurance company. 

Premium Payment Term

Discount Savings

1

2%

5

12.5%

7

17.5%

10

25%

12

35%


Documents Required to Buy Pramerica Life Trushiled

All Indian nationals are eligible to apply for Pramerica Life Trushieldand thus, documents that are needed while applying for this plan are the ones officially recognized by the government of India. A list containing some of these documents is shared below.

  • Application form provided by the insurer
  • Identity proof (Aadhar card, pan card, driving license)
  • Age proof (Birth certificate, domicile)
  • Address proof (Utility bills)
  • Latest professional photos (Passport size)
  • Bank account details (Passbook, checkbook, and/or any relevant document provided by the bank)

Any additional document may be required according to the mode you have selected to buy this plan

How to Buy Pramerica Life TrushieldOnline?

Online purchase is an easier alternative to buy this plan from the comfort of your home. The procedure is trouble-free and involves only a few clicks through your computer.

The stepwise guide is given below:

  • Go to the website that the insurer approves.
  • Search for Pramerica Life Trushieldunder the search box.
  • A web page containing all the details regarding the plan will appear.
  • Read through the instructions provided on the website.
  • Click on the apply online box.
  • An online application form will appear. Fill it.
  • Click on the save and proceed button.
  • Enter your health details.
  • Pick the plan option you have decided on.
  • Pay the premium online and finish the process.

Exclusions

Exclusion due to suicide

If the policyholder commits suicide within the first twelve months, counting from the date of commencement of risk, the insurer shall not be liable to pay the death benefit. Then the insurer will provide an amount equal to 80%of the premiums paid till date or surrender value (if any), whichever among both is higher provided that the policy is in active mode.

No extra claims shall be entertained by the insurer under such a condition.

*For a detailed list of exclusions, please refer to the policy document or the product brochure.

FAQs

Disclaimer: Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by an insurer.

*All savings are provided by the insurer as per the IRDAI approved insurance plan. Standard T&C apply.

Disclaimer: Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by an insurer.
Average Rating
(Based on 25 Reviews)
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Pramerica Life Trushield Reviews & Ratings

4.2 / 5 (Based on 25 Reviews)
(Showing Newest 25 reviews)
Sikander
Barasat, March 02, 2021
Pay easily
It is easy to pay for the premiums of my term insurance plan online. I bought the term plan of pramerica. A nice company with good term quotes. Kudos team.
Lalit
Andipatti, February 19, 2021
Benefits to family
I bought a term insurance plan from policybazaar and that was of pramerica company. The team explained me about this plan very clearly and I liked it a lot. I bought it for the safety and security of my family. Awesome plan.
Mahesh
Jamnagar, January 29, 2019
Good Services
I am the customer of DHFL Pramerica Life Insurance Company for past two years and I am very satisfied with the services provided by this company. The company not only provides life insurance products of different categories but it also has really good customer support team. The customer care executive from Policybazaar helped me to select the most suitable life insurance cover for me. DHFL is comparatively new in the insurance sector but in my two years with it, I did not find any flaw. They are just good and try to give you the best products and services. So, you can go for the life insurance plans of this DHFL.
Madhu
Jiaganj, July 07, 2016
Term Insurance
I have term insurance plan and very good one. Policy cover maximum scenarios and its premium is less. Service is fantastic provided by members of company. Claims are simple to clear by online or manually. Online service is easy to use.
Akash
Agra, June 28, 2016
Good
The policy coverage is high and claims are good which very easy to clear because your guys are really very good responsive team. The investment is low but the returns are high. Good term insurance plan which makes my life easier. I like the insurance policy and internet service too.
Bhavya
Nizamabad, May 18, 2016
Excellent Policy
My dhfl pramerica term insurance plan is nice. The policy coverage is high and the claims are high too. Claims are easily sanctioned because of fast services provided by the executives. Fantastic policy plan which provides good terms and conditions. Good investments which reduces taxes. I like the plan.
Varun
Zahirabad, May 18, 2016
Manageable Policy
My policy is not that good because the service is bit slow, the policy coverage is little low, Claims are not enough, premiums are high, Executives and staff members help when ever needed. Manageable policy, Please improve the service for better result.
Chandan
Kolkata, May 18, 2016
Perfect
I have term insurance policy plan from dhfl pramerica life insurance. The policy is good and the premiums are very less. The best investment and the taxes are also saved. Policy coverage and claims are good and the services is super. Good behaviour shown by executives and staff members. Good investment which save taxes.
Abhinav
Kolkata, May 18, 2016
Fantastic Deal
The dhfl pramerica term insurance plan i have is great. The policy coverage is high with high claiming amount. The premiums are low and the payback returns are approx. rs.39 L. The service provided by the executives and the staff members is good with nice behaviour. Good investments for future. I'm satisfied.
Sumeet
Newada, May 18, 2016
Good Plan
My dhfl pramerica term insurance plan is awesome. The policy coverage is high ~92% and the claims are approx. 40 L after policy get mature. Claims are easily sanctioned because of fast services provided by the executives. Fantastic policy plan which provides good terms and conditions. Daily updates mailed to me timely. I like the plan.
Dinesh
Greater_noida, May 18, 2016
Above Average
I purchase dhfl pramerica life insurance policy and the product is term insurance plan. The premiums are ~Rs.36 K per year. The claims are good and easily sanctioned. Service facilitate by executives and staff members are very nice and fast. The policy saves taxes and it is really very good investment for future. Daily updates are send to me. Good job, I like the plan.
Gautam
Sonipat, May 18, 2016
Very Nice
Great dhfl pramerica term insurance plan i got recently. They has good speed and responsive for any query and for any help. Policy coverage is 87% and the claims are good with easy claiming process. The investment is good and it saves taxes also. Good investment with tax saving.
Harish
Jaipur, May 18, 2016
Better Plan
The dhfl pramerica term insurance plan is wonderful with huge benefits like low premiums and the policy coverage is high 90%. Claims are good and the payback amount is around Rs.37 L after the policy get mature. Internet services are great with easy interface and vast variety of policies are there with full descriptions. Good future investment with tax savings.
Jayant
Haridwar, May 18, 2016
Normal Policy
The dhfl pramerica term policy plan i have is not as i expected. The policy coverage is 68% and the claims are less. The premiums are 22 K twice a year. Services is fast and the behaviour of the executives and staff members is good. Some improvement needed in the web site. Manageable policy plan. Please increase the coverage and services.
Kamal
Ahmedabad, May 18, 2016
Nice Policy
The dhfl pramerica term insurance plan is good. Policy coverage and claims are high with low investments. The executives and staff members behave well with the customers and providing nice outputs. The daily updates are mailed and texted to me regularly. It saves taxes. Good investment for future.
Lakshay
Lucknow, May 18, 2016
Manageable
I got dhfl pramerica term insurance plan. The policy plan is above average and the premiums are low. Policy coverage and the claims are high with high payback returns. Services provided by you guys is appreciable with good behaviour of your staff members and the extra good treatment provided by the executives is very nice. The terms and conditions are good.
Prabhjot
Nilgiris, May 18, 2016
Okay Plan
Policy coverage is less around 71% and the premiums are low around 21 K twice a year. Service are good and always on time till now. The claims are cleared easily due to quick response from the executives and staff members. Please improve your policy coverage for better performance. My dhfl pramerica term insurance plan is satisfactory for me.
Omesh
Haldwani, May 18, 2016
Power Plan
DHFL pramerica term insurance plan is one of the best policy. The policy coverage is 89% and the claims are good even the the claiming procedure is easy because the service provided by the company members are good and even the web services are even better. The premiums are low and for women get 5% less extra benefits on premiums. Good tax saver too.
Ishita
Faizabad, May 18, 2016
Above Average
The dhfl pramerica term insurance plan i have is not as i expected. The policy coverage is 69% and the claims are less. The premiums are 21 K twice a year. Services are fast and the behaviour of the executives and staff members are good. Some improvement needed in the web site. Good tax saving benefit.
Umakant
Hyderabad, May 18, 2016
Fair Policy
The dhfl pramerica term insurance plan is wonderful with huge benefits like low premiums and the policy coverage is high 88%. Claims are are good and the payback amount is around Rs.32 L after the policy get mature. Internet services is great with easy interface and vast variety of policies are there with full descriptions. Good policy.
Tanmay
Bangalore, May 18, 2016
Easy Returns
Great term insurance policy plan i got from dhfl pramerica life insurance. They has good in facilitate the fast services. Policy coverage is 86% and the claims are good with easy claiming process. The investment is good and it saves taxes also. The behaviour of executives and staff members are very nice.
Prashant
Gautam_buddha_nagar, May 18, 2016
Coverage Is Good
My dhfl pramerica term insurance plan is wonderful with huge benefits like low premiums and the policy coverage is high 89%. Claims are are good and the payback amount is around Rs.35 L after the policy get mature. Internet services are great with easy interface and vast variety of policies are there with full descriptions. Good future investment with tax savings. I like the plan.
Eshu
Lonavla, May 18, 2016
Average
I have dhfl pramerica term insurance plan. Policy coverage is good ~87% and the premiums are low approx. 36 K. Claiming is easy and the waiting time is very less due to fast and on time services from executives and the staff members. Good future investment and it reduces my taxes too.
Yajan
Darjeeling, May 18, 2016
Good
DHFL pramerica life insurance is one of the perfect insurance providers, i took term insurance policy plan from them. The policy is good in service and it can be buy and accessed from online also. The web service is awesome and 5% less for women on premiums. Policy coverage and the claims are high. Because of online facility, it reduces the paper work and the waiting part is erased.
Chirag
Jorhat, May 12, 2016
Power Plan
DHFL Pramerica term insurance plan is great. They has good speed and responsive for any query and for any help. Policy coverage is 88% and the claims are good with easy claiming process. The investment is good and it saves taxes also. Daily updates are send to me regularly.
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