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Pramerica Life Family First Plan

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Pramerica Life Family First Plan

This is a pure term insurance policy with a twist. It has a small lump sum death benefit of 20 times the monthly income of the life insured which is paid on death of life insured but has regular monthly income till the end of the policy tenure as chosen at the time of the policy inception.


Key Features of Pramerica Life Family First Plan

  • It is a pure Term Insurance Policy with Death Benefit of 20 times the Monthly Income chosen AND  regular Monthly Income Benefit and no Maturity Benefit
  • Regular Monthly Income Benefit that is paid on death of the life insured is equal to the monthly Income of the life insured as selected by him at the policy inception
  • There is a guaranteed Monthly Income benefit of 48 months in the last 4 years’ of the policy, such that the family would definitely receive at least 48 months of monthly income even if the life insured dies in the last month of the policy
  • There are 2 additional riders which can be opted for



Benefits you get from Pramerica Life Family First Plan

Death Benefit – In case of death of the policy holder, the nominee gets

·         20 times the Monthly Income of the life Insured to meet immediate needs AND

·         Regular monthly income till the end of the policy tenure, subject to a minimum of 48 months

·         OR, Discounted future value of the regular monthly income

Maturity Benefit – 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 conditions and other restrictions in Pramerica Life Family First Plan




Monthly Income (in Rs.)


No Limit

Policy Term (in years)



Premium Payment Term (in years)

Equal to policy term

Equal to policy term

Entry Age of Policyholder (in years)



Age at Maturity



Single premium



Payment modes

Yearly, Half-Yearly, Quarterly and Monthly


Sample illustration of premium amount in Pramerica Life Family First Plan

The below illustration is for a healthy Male (non-tobacco user) opting for a Monthly Income = Rs. 20,000 and Policy Term = 25 years

DLF Pramerica Family First Term Insurance Plan Sample Premium rates


Additional Features and Benefits of Pramerica Life Family First Plan

Riders – There are 2 riders available in this policy

·         Pramerica Traditional Accidental Death Benefit rider

·         Pramerica Traditional Critical Illness rider


What happens if? 

You 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.

You want to surrender the policy – There are no surrender benefits under this term plan.

You want a loan against your policy – Loan facility is not available under this policy.


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