Pramerica Life Insurance began operating in 2008 and provides life insurance coverage in India. Pramerica Life Insurance Limited (PLIL) is a joint venture between DHFL Investments Limited and Prudential International Insurance Holdings, Ltd. However, Pramerica has partnered with Prudential Financial since 2013. Prudential offers term, variable, index, and universal life insurance in the United States. You can read our review of Prudential here to learn more about why they are the largest life insurer in the United States.
NOTE: If you’re shopping for coverage here in the U.S., you can’t buy a policy from Pramerica. But if you’re just looking for information about the company, we’ve got you covered!Get a Free Quote Now
Pramerica focuses on families, designing its policies to add protection even after you are gone. In addition to life insurance, there are savings and retirement plans available to aid in financial planning. Their extended family protections go above and beyond to ensure that your loved ones can face the future with confidence.
Pramerica is involved in the community. They reward youth leaders in its communities through the Pramerica Spirit of Community Awards in India. They also offer the Prudential Spirit of Community Awards in the U.S.
To help ensure your policy truly fits your needs, Pramerica offers a free look period, or 15 days from the date of purchase to review your policy. If you decide not to move forward with your policy during this period, it can be canceled without penalty. The process of selecting a company and policy to protect your future is stressful. Pramerica is dedicated to making you feel confident in your choice, without rushing into your decision. Following the 15-day free look period, the policy can still be cancelled. You may be subject to fees and penalties. It is important to consult your agent or Pramerica customer support before terminating your policy early. Terminating your policy past the 15-day period may result in fees or additional charges.
Since 2013, Pramerica has partnered with Prudential to extend coverage to the U.S. for life insurance. Prudential is one of the top-rated carriers in the world, with a variety of plans and available riders to tailor your coverage to fit your needs.
No insurance is available in the U.S. through Pramerica directly. Pramerica does not sell insurance in the U.S. but rather in India, and they are partnered with Prudential to extend coverage options to the U.S.
Only term life insurance is available, with no option for whole, universal, and variable life insurance plans.
Pramerica offers one type of life insurance: term life insurance. Term life insurance is a temporary policy usually ranging from 10 to 30 years with a specific end date. If the policy holder dies while the policy is active, the death benefit is paid to the named beneficiary. Pramerica offers three term protection plans, along with a variety of savings plans, retirement plans, and health plans.
In addition to term life insurance plans, Pramerica offers their Pramerica Life Rakshak Smart policy. It comes with guaranteed benefits and two plan options to choose between. You get tax benefits and a comprehensive death benefit. This policy is designed to provide your loved ones with a secure future and is categorized as a Child Progress Plan.
Prudential became a partner of Pramerica in 2013. Prudential is the largest life insurer in the United States and has been one of the world’s most trusted insurance and financial planning brands for over 140 years. They offer four types of life insurance with a combined total of 11 plans, with the four types being term, universal life, index and variable life insurance. You can view the details of these plans in our review of Prudential here. In addition to the 11 available plans, there are riders available to tailor a policy to your needs, as life insurance is not one size fits all. In addition to life insurance products, Prudential also offers retirement planning, annuities, mutual funds, and investment services.
Advantages of Prudential include some of the best financial strength ratings and one of the largest selections of insurance products in the industry. The flexibility and variety of policies helps Prudential provide coverage that fits your unique needs, as life insurance is not one size fits all.
Pramerica is not rated by J.D. Power for customer satisfaction or A.M. Best for financial strength, making it difficult to compare to other carriers. However, their U.S. partner, Prudential, is ranked as one of the most highly rated insurance companies in the world. Their ratings can be found in our review with more details on what makes them superior to other carriers.
If you're in India and looking for life insurance products, Pramerica has a variety of policies with options available to tailor your plan to best fit your needs. The flexibility of available policies makes it a good option as you shop for your policy. If Pramerica sounds appealing to you, but if you are located in the United States, consider Prudential as an excellent option.
Prudential is one of the most highly rated companies in the world and is known for its flexible and precise products that allow you to find the policy that will protect you and your loved ones no matter what the future holds. However, it is always beneficial to consider several companies to ensure you find the best policy for both your needs and your budget. Having a professional life insurance agent review your case and provide advice on the underwriting process and available products can help you navigate the process efficiently, and answer questions along the way.
Here at LifeQuote, we work with over 40 of the top life insurance companies to help you get started on planning your financial future. Get a free quote from us today!Get a Free Quote Now