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Common Exclusions Under Endowment Insurance Plans Offered By Pramerica Life Insurance

Published On Jun 30, 2021 4:00 PM By InsuranceDekho

Pramerica Life Endowment Insurance plan is a non-participating guaranteed annual Income plan that efficiently encompasses all your financial needs. This plan's Guaranteed Annual Income features ensure that you and your family have a secure financial future, while the death benefit can be relied upon to produce a stable cash flow in case of an unfortunate contingency relating to the life assured. This plan, in addition to this, also offers other benefits that can be used under different circumstances. In this article, you will find the benefits and exclusions offered by the above-mentioned plan.

Key Features Of Pramerica Life Endowment Plan

Listed below are the salient features of the above-mentioned plan: 

  • Loan Option

In case a requirement arises for funds during the time of a financial emergency, the company will let you take out a loan against your policy to meet the necessity. Any outstanding loan amount and unpaid interest on the loan amount, however, will be deducted from any payment due under the policy.

  • Death Benefit

In case of the unfortunate demise of the Life Insured during the Policy Term, the company will contact the nominee/ beneficiary to pay a lump sum benefit equal to the Death Sum Assured, which will be considered the highest of 

i) Assured Base Sum 

ii) Maturity Sum assured

iii) 105 per cent of total premiums

It should be noted that the policy will cease to exist after the payment of the death benefit.

  • Guaranteed Annual Payouts

This plan offers a guaranteed annual payouts option for a duration equal to the premium payment term. Annual Payouts under this policy start from the maturity date for a duration equal to the premium payment term selected.

  • Maturity Benefit

Endowment plans are known for providing maturity benefits to the policyholder. It is precisely this feature of an endowment plan that marks it as a safe and trustworthy option in the market. This feature works by providing the sum assured to the policyholder even if they survive the maturity term.

Exclusions Under Endowment Insurance Plans Offered By Pramerica Life Insurance

If a person dies by means of suicide or attempted suicide, whether sane or insane, within twelve months of the risk commencement date or twelve months from the date of revival of the policy, this policy will pay an amount equal to higher than 80% of the total premiums paid, till the Surrender, or the date of death.


The endowment plan offered by Pramerica Life insurance is a compelling plan that adds the saving benefit to the traditional concept of insurance plans. It offers additional benefits that can be availed by the policyholder as and when stated in the policy. It is the duty of the policyholder to understand the features and exclusions of the insurance plan in detail and the above article will hopefully guide you through the process.

Also Read:

Who Can Opt For Endowment Insurance Plans?

What Is An Endowment Plan’s Premium?

Disclaimer: This article is issued in the general public interest and meant for general information purposes only. Readers are advised not to rely on the contents of the article as conclusive in nature and should research further or consult an expert in this regard.

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