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Pramerica U-Protect Plan

Pramerica Life U-Protect Plan is a vanilla Term Insurance Policy for Sum Assured greater than Rs 25 lacs. This is a Traditional Plan without Bonus Facility.

In this plan, premium needs to be paid till the end of the Policy Term chosen. If the Life Insured dies within the Policy Tenure, then the Sum Assured is paid to the nominee as Death Benefit. However, if the Life Insured survives till the end of the policy term, then nothing is payable as Maturity Benefit as this is a pure Protection Plan.

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pure Term Insurance Policy
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Death Benefit
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Income Tax Benefit
Compare this plan with other Term Plans
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Key Features

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It is a pure Term Insurance Policy with Death Benefit and no Maturity Benefit.
Sum Assured is paid as Death Benefit if the Life Insured dies within the Policy Tenure
There are low premiums for maintaining a healthy non-smoking healthy lifestyle.
Riders

There are 2 riders available in this policy

  • Pramerica Traditional Accidental Death Benefit rider
  • Pramerica Traditional Critical Illness rider

Benefits

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Death Benefit

In case of death of the Life Insured within the Policy Tenure, the nominee gets the Sum Assured as Death Benefit.

Maturity Benefit

Being a pure Term Plan, there are no Maturity Benefits under this plan.

Income Tax Benefit

Life Insurance premiums paid up to Rs.1,50,000 are allowed as a deduction from the taxable income each year under section 80C

Eligibility

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  Minimum Maximum
Sum Assured (in Rs.) 25 lacs No Limit
Policy Term (in years) 10 30
Premium Payment Term (in years) Equal to policy term Equal to policy term
Entry Age of Policyholder (in years) 18 55
Age at Maturity (in years) - 65
Annual Premium (in Rs.) 4,000 NA
Payment modes Yearly and Half-Yearly

FAQs

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angle down iconYou stop paying the premium

If the policy holder stops paying the premium, then all benefits of the policy will cease after the expiry of the grace period from the due date of the first unpaid premium. You can re-instate the policy within 3 years of lapsation by paying up all due premiums with interest.

angle down iconYou want to surrender the policy

There are no surrender benefits under this term plan.

angle down iconYou want a loan against your policy

Loan facility is not available under this policy.