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Pramerica Life Cancer + Heart Shield Insurance

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Key Features:

  • Fixed benefit plan: No ambiguity on benefit amounts. Fixed benefit is paid on diagnosis of covered conditions/illnesses.
  • Comprehensive coverage: Covers different stages of Cancer and Heart conditions.
  • Option To Augment Coverage: Option to cover another 26 Major Critical Stage Illnesses.
  • Focus on treatment and recuperation: No need to pay any premium from the date of first claim for next 3 Policy years while still being covered.
  • Income benefit: Monthly Income payable as recuperation benefit to meet your needs.
  • Increasing Sum insured: Option to go for an increasing cover to address rising medical costs.
  • Multiple claims: Multiple claims allowed as per the chosen option.

Pramerica Life insurance review

Pramerica Insurance plans
Distribution - Number of branches pan India (March 2019)
138
Number of Lives Covered (Ind+Group) **
95,38,487
Policy Term Minimum / Maximum (Years) - Terms Plans
Jun-67
Solvency ratio as on 31-Mar-21 *
442%
Number of Policies Sold (Ind+Group) *
40,369
Claims Settlement Ratio (Ind+Group) ***
98.42%
* - As per IRDAI data 2018-19 - The solvency ratio of an insurance company is the size of its capital relative to all the risk it has taken, which is all liabilities subtracted from total assets. In other words, solvency is a measurement of how much the company has in assets versus how much it owes
** - as per L-25 Public Disclosure of Insurance Companies for 2019-20  |  *** - Claims Settlement Ratio = Claims Settled in the year / Claims Reported in the year - as per IRDAI data published

Pramerica Life Cancer + Heart Shield Health Insurance Plan overview

  • Eligibility
  • Coverage Options
  • How does the plan work

Eligibility Criteria of Pramerica Life Cancer + Heart Shield Health Plan

Entry Age 18 years to 65 years
Policy Term 10 years to 40 years
Premium Payment Term Regular Pay
Maximum Maturity Age 75 years
Base Sum Assured Minimum: 5,00,000
Maximum : Option 1:50,00,000
Other Options : 25,00,000
Annual Premium Minimum: Option 1: 500 | Other Options: 1,000
Maximum: No Limit, Subject to maximum SA, Entry Age, Coverage option & Benefit payout option chosen

Choice of four coverage options:

Benefit Plan Options
Cancer Shield Heart Shield Cancer & Heart Shield Comprehensive Shield
Fixed benefit payable on Diagnosis of Cancer Heart related conditions / procedures Combination of both Cancer & Heart Shield Both benefits of Cancer & Heart Shield with additional cover against 26 Major CI

Flexibility of two Benefits

Benefit Under Minor Condition Under Major Condition
Care Benefit Lump sum – 25% of Base Sum Insured
Monthly Income of 1% of Base Sum Insured for next 6 months		 100% of Base Sum Insured minus 25% of Base Sum Insured if already paid
Care+ Benefit Lump sum – 25% of Indexed Sum Insured
Monthly Income of 1% of Base Sum Insured for next 6 months		 100% of indexed sum Insured minus 25% of indexed Sum Insured if already paid Monthly Income of 1% of Base Sum Insured for 5 years

How does the plan work?

  • Step 1: In this plan, the illnesses covered are grouped under 'Coverage Options'. Customer has to choose any one of the 4 available options as per their need of coverage
  • Step 2: The Customer has to select one out of two available ‘Benefit Payout Options’
  • Step 3: Customer has to choose Policy Term, Premium Payment Mode and Sum Insured under their policy
  • Step 4: Customer will have to pay the Premium basis Age, Gender, Sum Insured chosen, Policy Term, Premium Payment Mode, Coverage option and Benefit Payout option chosen.

Brochure

Review Pramerica Life Cancer+ Heart Shield Health Insurance Plan brochure to understand coverage details.

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Policy wordings

Review Pramerica Life Cancer+ Heart Shield Health Insurance Plan Premium policy wordings which explains the terms and conditions.

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CIN: U66000KA2018PTC117713 | IRDAI Web aggregator License Code Number: IRDAI / INT / WBA /53/ 2018, Valid till 07/08/2025