Pramerica Insurance plans

Pramerica Life Insurance

Pramerica Life Insurance Limited (PLIL) 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 fully owned subsidiary of Prudential Financial, Inc. (PFI), a financial services leader headquartered in the U.S. PLIL represents the coming together of two renowned financial services organizations with a legacy of business excellence spread over decades. The life insurance joint venture agreement between the two partners was signed in July 2013.

Pramerica Life Insurance Limited, which was earlier known as DHFL Pramerica Life Insurance Company Limited started operations in India on September 01, 2008 and has a pan India presence through multiple distribution channels which have been customized to address the specific insurance needs of diverse customer segments. The Company is committed to providing protection and quality financial advice to its customers. Headquartered in Gurugram, they provide a wide range of life insurance solutions for individuals as well as groups and are committed to catering to our customers’ various financial protection needs such as securing their child’s future, retirement planning, savings and wealth creation.

Pramerica Life insurance review

Pramerica Insurance plans
Distribution - Number of branches pan India (March 2019)
Number of Lives Covered (Ind+Group) **
Policy Term Minimum / Maximum (Years) - Terms Plans
Solvency ratio as on 31-Mar-21 *
Number of Policies Sold (Ind+Group) *
Claims Settlement Ratio (Ind+Group) ***
* - As per IRDAI data 2018-19 - The solvency ratio of an insurance company is the size of its capital relative to all the risk it has taken, which is all liabilities subtracted from total assets. In other words, solvency is a measurement of how much the company has in assets versus how much it owes
** - as per L-25 Public Disclosure of Insurance Companies for 2019-20  |  *** - Claims Settlement Ratio = Claims Settled in the year / Claims Reported in the year - as per IRDAI data published

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  • Awards & Recognitions
  • Why choose Pramerica Life Insurance
  • Claims Process

Awards & Recognitions

Listed below are some of the many awards that the company has won over the past two years: PRIDE OF THE NATION AWARD
Pramerica Life Insurance Limited received the "Pride of the Nation" award from Union Home Minister Shri Rajnath Singh on 16th December 2018 in New Delhi. This award recognizes the Community Engagement programmes which Pramerica Life Insurance Limited has been running successfully in collaboration with the Indian Army

Pramerica Life Insurance Limited adjudged winner for the Sales Championship in the Life Insurance category at the 5th Annual Economic Times Insurance Summit 2018.

SKOCH Consultancy honored Pramerica Life Insurance Limited with SKOCH Order-of-Merit in the two categories namely Corporate Social Responsibility initiative(Behtar India) and Group and Partnership distribution.

Pramerica Life Insurance Limited received Golden Star Awards in two categories namely Corporate Social Responsibility initiative(Behtar India) and Claims Service of the year.

Pramerica Life Insurance Limited’s AceApp has been declared as a winner of 2nd Digital Industry Awards in the Digital Excellence in Insurance/Financial services category for Showcasing AceApp 2.0, a comprehensive “Mobile Office on the go” for its agents, covering all aspects of customer lifecycle and agent servicing.

Endorsed by CMO Asia, the award focuses on best marketing campaigns in the Banking, Financial Services & Insurance Industry.

Pramerica Life Insurance Limited operates an Information Security Management System which complies with the requirements of ISO/IEC 27001:2013

For Outstanding Corporate Branding under Behtar India campaign. Award was given by Institute of Technology & Science, Ghaziabad.

For Showcasing AceApp 2.0, a comprehensive “Mobile Office on the go” for its agents, covering all aspects of customer lifecycle and agent servicing. We won the award in Digital Transformation category based on IT Optimization Enterprise Integration, Cloud infrastructure and Modern Application Development.

Why choose Pramerica Life Insurance?

Pramerica Life Insurance is a trustworthy brand with strong legacy of DHFL Group and Prudential USA. They offer a wide range of solutions and our life insurance policies will help you in meeting your Protection and Financial needs for every important stage of your life. They care about you and look for innovative ways to provide long term value to our customers, employees, shareholders and community.

Key differentiators include:
  • Financial Management
    • Judicious management of customers’ investments
    • Strong financial governance and policies
  • Strategic distribution channels
  • Prahri - This channel is dedicated to serving the life insurance needs of the armed forces:
    • Dedicated sales team comprising mainly of ex-Defence personnel
    • Defined training and sales processes to enable sales and support teams to understand and deliver customer needs
    • Unique product offerings with base plans covering war and warlike situations
    • Defined and speedy claims process with waiver of death certificate in case of duty deaths
  • Values driven business practices
  • Established quality benchmarks with regular monitoring of service quality standards
  • Transparent and compliant business practices
  • Talented team of professionals
  • Focused on operational excellence

Claims Process

To register a claim, please follow one of the following:
Call us at : Toll Free in India 1800 102 7070
(9.30 AM- 6.30 PM Monday to Saturday)
Missed Call Facility at 1800 102 7986
Email us at :
SMS : 'LIFE' to 5607070 or 9289207070
Visit Online at :
Write to us at : Policy Services, Pramerica Life Insurance Limited
(Erstwhile DHFL Pramerica Life Insurance Company Limited),
4th Floor, Building No. 9 B,
Cyber City, DLF City Phase III,

What are the documents required to process an online death claim?
The documents required to process the claim are based on the cause of death are:
  • Medical Cause of Death Certificate
  • Death Certificate
  • Claimant’s ID PAN card
  • Claimant’s Address proof
  • Cancelled cheque of claimant
  • Claimant’s photograph

Notes: Any document uploaded should be self-attested by the claimant. Pramerica Life may further call for documents apart from the above (case specific).

Who is a Nominee? At time of death claim intimation, if there is no nominee or in case of unfortunate demise of nominee what are the documents required?
Nominee is the person appointed at time of policy issuance for receiving the benefits of insurance policy. In an event the nominee is a minor, the benefits would be received by appointee mentioned at time of policy issuance.

We require court issued proof of title/succession certificate. This condition is referred to as “Open Title Case”.

What is a Death Certificate? What is a Medical Cause of Death Certificate?
Document issued by the Government to the nearest relatives of the deceased, stating the date, fact and cause of death. Document issued by a Medical Practitioner/Hospital certifying the deceased state of a person

What is termed as Natural Death?
Death occurring in the course of nature and from natural causes (as age or disease) as opposed to accident or violence.

What are the things that I must take care while uploading the documents?
Kindly make sure of the following while uploading documents:
  • Make sure documents uploaded are clear
  • Claimant should be equal to nominee
  • Claimant’s Name on PAN should match with the name on cheque
  • Do not sign across account number and IFSC

Is NEFT mandatory for all claims?
As per the IRDAI circular no. IRDA/F&A/CIR/GLD/056/02/2014 dated February 13, 2014, all payouts made to customers need to be in the electronic form. Hence, NEFT details of the customers are mandatory to process the claim payouts.
  • NEFT payments would be made only in Indian Saving Bank Accounts or NRO Accounts.
  • Cheque would be issued if payment has to be deposited in NRE Account.

What all documents are acceptable ID proof and address proof?
Document Identity Proof Address Proof
PAN Card
Voter’s Identity Card issued by Election Commission of India
Permanent Driving License
Aadhaar Card
Identity card with applicant’s photograph issued by Central/State Departments, Statutory/Regulatory Authorities, Public Sector Undertakings, Scheduled Commercial Banks, Public Finance Institutions
Letter issued by a gazette officer, not more than 6 months old, mentioning the address along with a duly attested photograph of the person
Bank account statement / Passbook not older than six months as on date of acceptance (If it contains photograph)
Documents (not more than 3 months old) issued by Government departments of foreign jurisdiction and letter issued by Foreign Embassy or Mission in India (If it contains photograph)
Central KYC identifier (can be accepted, if there is no change in current address of client)

By when will the claim be settled?
Turn Around Time as mandated by Insurance Regulation and Development Authority of India (IRDAI) Death Claims Health Claims
Raising Claim Requirements Within 15 days of receipt of claim. Within 15 days of receipt of claim.
Settlement or Rejection or Repudiation of claims wherein Investigation is not required Within 30 days from the date of receipt of last necessary document. Within 30 days from the date of receipt of last necessary document.
Settlement or Rejection or Repudiation of claims wherein Investigation is required Investigation should be completed not later than 90 days from the date of receipt of claim intimation and the claim shall be settled within 30 days thereafter. Investigation should be completed not later than 30 days from the date of receipt of last necessary document and the claim shall be settled within 45 days from the date of receipt of last necessary document.

Frequently Asked Questions (FAQs)

Uberrima Fides
A contract of insurance is a contract of utmost good faith technically known as uberrima fides. The doctrine of disclosing all material facts is embodied in this important principle, which applies to all forms of insurance. At the time of taking a policy, the policyholder should ensure that all questions in the proposal form are correctly answered. Any misrepresentation, non-disclosure or fraud in any document leading to the acceptance of the risk would render the insurance contract null and void.

Savings through life insurance plans guarantee full protection against risk of death of the saver. Also, in case of demise, life insurance assures payment of the entire amount assured (with bonuses wherever applicable) whereas in other savings schemes/ saving plans, only the amount saved (with interest) is payable.

Aid To Thrift
In case of life insurance, it is easy to acquire loans on the sole security of any policy that has acquired loan value. Besides, a life insurance policy is also generally accepted as security, even for a commercial loan.

In case of insurance, it is easy to acquire loans on the sole security of any policy that has acquired loan value. Besides, a life insurance policy is also generally accepted as security, even for a commercial loan.

Tax Relief
Life Insurance is the best way to enjoy tax deductions on income tax and wealth tax. This is available for amounts paid by way of premium for life insurance subject to income tax rates in force. Assesses can also avail of provisions in the law for tax relief. In such cases the assured in effect pays a lower premium for insurance than otherwise.

Money When You Need It
An insurance policy that has a suitable insurance plan or a combination of different plans can be effectively used to meet certain monetary needs that may arise from time-to-time. Children’s education, start-in-life or marriage provision or even periodical needs for cash over a stretch of time can be less stressful with the help of these insurance policies. Alternatively, policy money can be made available at the time of ones retirement from service and used for any specific purpose, such as, purchase of a house or for other investments. Also, loans are granted to policyholders for house building or for purchase of flats (subject to certain conditions).

The claim benefit can be received by:
  • The nominee or the guardian (in case of minor nominee), if you are the Life Assured
  • The proposer, in case you are not the Life Assured
  • Assignee, in case the policy is assigned
  • Life Assured, in case of living benefit claims such as, claims under disability, critical illness and major surgery rider.

In such circumstances, we would require the proof of title/succession certificate issued by a competent court. The claim would then be paid to the person specified in the said proof. Such a condition is called 'Open Title' situation.

If we have accepted the claim but are waiting for the issued certificate of proof, we hold the money till the proof is submitted and pay interest as directed by the Insurance Regulatory and Development Authority of India.

Yes, the premiums paid for the term plan as well as the pay-out received offer tax benefits. The premium that you pay for any life cover policy is eligible for deduction under section 80C of the Income Tax Act, 1961 up to a maximum of Rs 1,50,000. Moreover, the claim amount received from the life insurance policy (in the event of death) is exempted from the income tax under section 10(10D) of the Income Tax Act, 1961.

Death benefits are tax-free.

Tax benefits are subjected to changes in tax laws. You are advised to consult your tax advisor for the same.

The following details are necessary when filling in the proposal form:
  • Full name of the nominee
  • Address
  • Age
  • The relationship between you and the nominee

While nomination is an authorization to receive the policy monies in the event of death of the life insured, it does not give the nominee an absolute right over the money received to the exclusion of other legal heirs. Further, the nomination can be revoked or cancelled at any time during the lifetime of the policyholder at his will and pleasure or by a subsequent assignment.

On the other hand, assignment of an insurance policy is a transfer or assignment of all rights and liabilities of the insurance policy in favour of the assignee.

Our process of medical examination is very simple. Immediately after the making payment, basis your pin code you will be eligible either for home visit or for centre visit.

  • Home visit: If you have selected this option, you can choose the date and time of examination as per your convenience.
  • 0Medical centre visit: If home visit option is not available for your location or in case of tests which require medical centre visit like X ray, TMT (Treadmill test) etc. You can choose the date, time & centre of examination as per your convenience.
0 Cost of medical exam would be borne by the company.

Your family will receive the claim amount in the event of both natural and accidental death. Life insurance is designed to provide your family with a certain amount of money, irrespective of the reason of death. However, there are some exclusions like suicide in 1-year, non-disclosure of rightful facts that can lead to a decline of your claim amount. To know more about such exclusions, please refer to the terms & conditions section in the policy document.

It is usually suggested that a life insurance cover should be at least 10 times of your annual income and 15 to 20 times is an even better option. If you have loans such as home loans, car loans, etc. then you should factor that in too.

For instance, if your annual income is ₹ 10 Lakhs, it is ideal to buy term life insurance cover of at least ₹1.0 crore, if you do not have other liabilities. In case you have a home loan of ₹50 lakhs, include this amount in your life cover. It is best to use the term calculator provided by insurance companies before deciding on your life cover.

Online transactions are completely secure and are done directly on the insurance company’s or it’s official distributors’s website. Today almost all financial transactions including banking, stocks, etc have moved completely online and lacs of people are making online payments every day. You can evaluate Pramerica Life’s plans on .

Beneficiary is the sole person entitled to the benefits under the policy. Yes, the beneficiary of the policy can be changed in case of the unfortunate demise of the existing beneficiary. You have to submit the Policy Servicing Request Form at any Pramerica Life branch. Forms are available under the Forms & Downloads section under Policy Servicing.

You may also refer to your Policy documents to know more about the beneficiary change process.

If your policy has attained a surrender value, you can avail a policy loan which is a % of the surrender value. The policy loan can be taken for regular as well as single premium, Unit Linked & Conventional policies. Kindly refer to your policy document for details on the terms & conditions for availing a policy loan.

The death benefits received by the nominee under a life insurance policy are exempt from tax as per section 10(10D) of the Income Tax Act, 1961.

You can disclose additional information about yourself, after issuance of your policy, by sending us a letter. This information can be related to medical conditions, an occupational change which may have an impact on your health, insurance cover with other companies, changes in habits, change of residential status to NRI, etc.

You have a period of 15 days to review your original policy document from the date of receipt. If you are not satisfied with the terms and conditions of your policy, you can return it to us for cancellation and you will be eligible for a refund. If your policy is sourced through distance marketing, you have a period of 30 days. This will be mentioned in your policy certificate. To cancel your policy within the free look (review period), fill up the form and visit any of our branches with your Policy document. Once received, we will process your request and refund the premium amount after applicable deductions (if any) within 15 days.



CIN: U66000KA2018PTC117713 | IRDAI Web aggregator License Code Number: IRDAI / INT / WBA /53/ 2018, Valid till 07/08/2025