Pramerica Life U Protect Plan

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.

Key Features of Pramerica Life U Protect Plan

• 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.
• There are 2 additional riders which can be opted for.

Benefits you get from Pramerica Life U-Protect Policy

• 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 conditions and other restrictions in Pramerica Life U Protect Policy

Sample illustration of premium amount in Pramerica Life U-Protect Plan

The below illustration is for a healthy Male (non-tobacco user) opting for a Sum Assured = Rs. 25 lacs and Policy Term = 25 years

Additional Features and Benefits of Pramerica Life U-Protect 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.