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Pramerica Life Flexi e-Term

Summary Info

Insurance Company	Pramerica Life Insurance Company Ltd
Plan Name	Pramerica Life Flexi e-Term
Plan Nature	TRADITIONAL
Plan Category	Term Plan
UIN No.	140N055V01
About Plan	This is a Non-Participating, Non-Linked, Pure Term Insurance plan. This is a term plan that gives you protection in case of uncertainty along with Critical Illness Cover, Terminal Illness Cover and Accidental Death Benefit. This plan covers Death, Accidental Death, Terminal Illness & Critical Illness basis chosen option and provides unparalleled peace of mind. It also gives a choice of flexible term, policy payment term and a cover that is difficult to match otherwise.

Basic Details

Minimum Entry Age	18 Years (age as on last birthday)
Maximum Entry Age	65 Years - for Regular Pay option; 50 Years - for 60 Years less Age at Entry option;
Maturity Age	75 Years (age as on last birthday)
Minimum Policy Term	10 Years - for Regular Pay option; PPT + 1 - for 60 Years less Age at Entry option (subject to minimum PPT of 10 years)
Maximum Policy Term	75 Years less Entry Age;
Premium Paying Term	Same as Policy Term - for Regular Pay option; 60 Years less Age at entry - for 60 Years less Age at Entry option;
Minimum Sum Assured	Rs. 25,00,000/- (for Base, Accidendtal Death Benefit, Terminal Illness) Rs. 1,00,000/- (for Critical Illness)
Maximum Sum Assured	No limit subject to underwriting - for Base Sum Assured; Rs. 1 Crore - for Accidental Death benefit, Terminal Illness; Rs. 50,00,000/- - for Critical Illness;
Minimum Annual Premium	Rs. 3,000/-
Maximum Annual Premium	As per Base Sum Assured chosen, subject to underwriting

Key Benefits

Benefits

Particulars	Description
Maturity Benefits	No Maturity Benefit is payable on completion of policy term under this plan.
Loan against policy	Loans are not available under this policy.
Additional Benefits	Life Stage Cover Enhancement option: With this feature, you can choose to increase Base Sum Assured under your policy without any medicals on achieving any one or all of the events (such as Marriage, Birth/Legal Adoption of 1st child, Birth/Legal Adoption of 2nd child, and on purchase of a house where loan has been taken) upon payment of an additional premium. This feature is available only for regular premium paying policies and to standard healthy life at inception of the policy.
Surrender Benefit	A regular premium policy will not be entitled for any surrender value. A limited pay policy, will acquire surrender value only after premium payment term is over, and the company has received all due premiums payable under the policy in full. Surrender value will be calculated as: 70% * (Sum of premiums paid * excluding the first years complete premium) * (outstanding policy duration (in months) / (Policy Term (in months))
Plan Options Benefits	The benefits shall be payable as per the option chosen by the policyholder at inception of the policy: a) Option 1: Life Cover: In unfortunate event of death of life assured during the policy term, while the policy is in-force, Death Sum Assured will be paid out to the nominee as per the benefit payout option chosen at inception. The policy will terminate on payment of this benefit. Death Sum Assured under the policy will be highest of: i) 10 times the Annualized Premium, or ii) 105% of all the Premiums paid as on date of death, or iii) Absolute amount payable on death which is equal to Base Sum Assured. b) Option 2: Life Cover plus Terminal Illness: On occurence of either death of life assured or diagnosis of Terminal Illness, whichever is earlier, the Death Sum Assured will be paid out to the nominee as per the benefit payout option chosen by policyholder at inception, subject to the policy being in force. Terminal illness is an accelerated benefit and the policy will continue with the remaining Base Sum Assured, if any, (reduced by the extent of the Terminal Illness benefit paid) and the benefit payment upon diagnosis of Terminal Illness would be restricted to 1 crore. Terminal Illness benefit will be payable to the life insured as lump sum only. c) Option 3: Life Cover plus Terminal Illness plus Accidental Death Benefit: In addition to the benefits payable under option 2 (Life Cover plus Terminal Illness), the policy also provides an extra cover in case of accidental death. The additional death benefit equal to Accidental Death Benefit would become payable as lump sum in case Life Assured dies due to an accident. d) Option 4: Life Cover plus Terminal Illness plus Critical Illness: Under this option, in addition to the Death Sum Assured under option 2 (Life Cover plus Terminal Illness), the policy provides Critical Illness Benefit as chosen by the policyholder at inception, upon diagnosis of any of the 35 critical illnesses. Critical Illness benefit is also an accelerated benefit and the policy will continue with the remaining Base Sum Assured (reduced by the extent of the Critical Illness benefit paid). The policy will continue for remaining Base Sum Assured. Premium payment towards critical illness benefit will cease after payment of Critical Illness Benefit. e) Option 5: Life Cover plus Terminal Illness plus Critical Illness plus Accidental Death Benefit: In addition to the benefits payable under option 4 (Life Cover plus Terminal Illness plus Critical Illness), the policy also provides an extra cover in case of accidental death. Critical Illness and Terminal Illness benefits are Accelerated Benefits while Accidental Death Benefit is an Additional Benefit. Option 4 and 5 are available, only if the policyholder has opted for regular premium option.

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