Insurance Company: News, Details and ULIPs Performance | India Infoline

Pramerica Life Cancer+Heart Shield

Summary Info

Insurance Company	Pramerica Life Insurance Company Ltd
Plan Name	Pramerica Life Cancer+Heart Shield
Plan Nature	TRADITIONAL
Plan Category	Health Plan
UIN No.	140N057V01
About Plan	This is a Non Linked, Non Participating Fixed Benefit Individual Health Product that covers you against the financial impact of various critical illnesses on their diagnosis and during their recovery process. The plan, with various coverage options provides you an in-depth coverage against different dreaded critical illnesses like Cancer, Heart (Cardiovascular) and other illnesses.

Basic Details

Minimum Entry Age	8 Years (age as on last birthday)
Maximum Entry Age	65 Years (age as on last birthday)
Maximum Maturity Age	75 Years (age as on last birthday)
Minimum Policy Term	10 Years
Maximum Policy Term	40 Years
Premium Payment Term	Equal to Policy Term
Minimum Annual Premium	Rs. 500/- - for Option I; Rs. 1,000/- - for Other Options; (subject to minimum installment premium of Rs. 200/-)
Maximum Annual Premium	No Limit, subject to maximum Sum Insured, Entry Age, Coverage Option and Benefit Payout Option chosen
Minimum Sum Assured	Rs. 5,00,000/- (for all options)
Maximum Sum Assured	Rs. 50,00,000/- - for Option I; Rs. 25,00,000/- - for other Options;

Key Benefits

Benefits

Particulars	Description
Surrender Benefit	No Surrender Value is applicable under this plan
Premium Waiver Benefit	On diagnosis of critical illness under the policy, Premium for next 3 Policy Years will be waived off from the next premium due date following the date of diagnosis of critical illness. This benefit is available only one time during thelifetime of the Policy. In case Policyholder chooses Option I or Option II, waiver of Premium will be applicable only on occurrence of minor stage claim. The coverage will immediately terminate on payment of major stage benefit and no waver of premium would be applicable. Under Option III and Option IV, the waiver of Premium is applicable on first claim (minor/major). The Policy willcontinue for the remaining benefits thereafter
Critical Illness Benefit	Care Benefit: Under this option following benefits are payable: Upon diagnosis of a Minor Stage Condition/Illness: Lump Sum payment of 25% of Base Sum Insured becomes payable immediately; plus, Monthly Income of 1% of Base Sum Insured is payable every month for next 6 months where firstpayment made immediately with lump sum payment. Upon diagnosis of a Major Stage Condition/Illness: 100% of Base Sum Insured less 25% of Base Sum Insured, if paid earlier under Minor stage condition, becomes payable immediately. On diagnosis of critical illness under the policy, premium would be waived off for next 3 Policy years. This benefit is available only one time during the lifetime of the Policy. Care+ Benefit: Under this option, Indexed Sum Insured would become payable. Indexed Sum Insured is Base Sum Insuredincreased by 10% per annum (simple) starting first policy anniversary, for each completed claim free year. Indexation would only be applicable till date of diagnosis of critical illness or till Indexed Sum Insured reaches 150% of Base Sum Insured. At no point of time Indexed Sum Insured would be different for minor and major stages rather it will become constant after the first claim is made under the policy. Under this option following benefits are payable: Upon diagnosis of a Minor Stage Condition/Illness: Lump sum payment of 25% of Indexed Sum Insured becomes payable immediately; plus, Monthly Income of 1% of Base Sum Insured is payable every month for next 6 months where first payment made immediately with lump sum payment.BR>Upon diagnosis of a Major Stage Condition/Illness: 100% of Indexed Sum Insured less 25% of Indexed Sum Insured, if paid earlier under Minor Stage condition, becomes payable immediately - Monthly Income of 1% of Base (Initial) Sum Insured become payable for 5 years, where first payment madeimmediately with lump sum payment On diagnosis of critical illness under the policy, Premium would be waived off for next 3 Policy years. This benefit is available only one time during the lifetime of the Policy. In case a claim is made under both of the minor and major categories, then the Monthly Income benefit will be paid under each of the category and can continue to be paid together. In such case Monthly Income under minor will continue to be paid for 6 months, along with the Monthly income payable in case of claim under Major category for 5 Policy years payable monthly In case Life Assured dies, after the Monthly income under the plan has started, the Monthly Income Benefit would continue to be paid to Nominee/legal heirs of Life Assured.
Plan Options Benefits	Option I: Cancer Shield: This option offers fixed benefits against Cancer diagnosis. The amount of benefit coverage varies according to Minor and Major Stages of Cancer Minor Stage: Carcinoma in Situ/Early Stage Cancer Major Stage: Cancer of specified severity Option II: Heart Shield: This option offers fixed benefits against Heart (Cardiovascular) related conditions/procedures. The amount of benefit coverage varies according to Minor and Major Stages of Heart related conditions/ procedures. Option III: Cancer & Heart Shield: This is a combination of Option I & Option II. This option offers fixed benefits against both Cancer and Heart (Cardiovascular) related conditions/procedures. Option IV: Comprehensive Shield: This option offers fixed benefits as per Option III plus an additional coverage against 26 Major Critical Illnesses. These 26 additional Major Critical Illnesses are distinct from the Critical Illnesses covered under Major category of Cancer and Heart.

Rider Name

Plan Speciality

Fund Option

Latest NAV

News

Insurance Company

Aegon Religare Life Insurance

Aviva Life Insurance

Bajaj Allianz Life Insurance

Bharti Axa Life Insurance

Birla Sun Life Insurance

Canara HSBC OBC Life Insurance

DHFL Pramerica Life Insurance

Edelweiss Tokio Life Insurance

Exide Life Insurance

Future Generali India Life Insurance

HDFC Life Insurance

ICICI Pru Life Insurance

IDBI Federal Life Insurance

IndiaFirst Life Insurance

Kotak Mahindra life Insurance

Max Life Insurance

PNB Metlife India Insurance

Reliance Life Insurance

Sahara India Life Insurance

SBI Life Insurance

Shriram Life Insurance

Star Union Dai-Ichi Life

Tata AIA Life Insurance

Housing Loan EMI Calculator

Taking a Housing Loan? Check how much will be your EMI

Loan Amount (Rs.)

Interest rate

Tenure

SIP as per need – SIP Calculator

Check what should be your SIP amount to get a big sum of money in future

I Want Rupees

in years.

Your Expectations of Returns

%

Result

You will need to do an SIP of Rs. Per Month

Table for Growing SIP

Monthly Amount For SIP Needed

Expected Returns
8	10	12	15	17.5	20

Table for Non Growing SIP

Monthly Amount For SIP Needed (non-growing)

Exp. Returns(%)	Number of Years of SIP
Exp. Returns(%)	5	10	15	20	25	30
10
12
15
20