The Family Income insurance policy from DHFL Pramerica is designed to support the families of the policyholder and financially secure their future. It is a term insurance policy that offers monthly benefits and protects the families of the policyholder in case of his / her unfortunate demise.
Features of DHFL Pramerica Family Income
- An economical means to ensure the financial security of your family in case of your death.
- Extra protection with riders.
- Regular income on a monthly basis.
- Attractive premium rates for all classes of customers.
Benefits of DHFL Pramerica Family Income
As DHFL Pramerica Family Income is a non-participating policy and a decreasing term plan, survival of the policyholder at the end of the policy term will result in no benefits being paid. However, other benefits can be availed as follow:
- If the policyholder passes away before the expiry of the policy term, the monthly income benefit will be granted to the nominee from the date on which the policyholder died till the date on which the policy officially expires. However, a minimum of 36 monthly instalments must be made by the policyholder for the nominee to be eligible for the claim.
- Customers who have chosen the lump sum benefit will receive all future monthly income at a discounted value. The company will determine the discounted rate.
- Nominees will be eligible for benefits resulting from DHFL Pramerica Traditional Accidental Death Benefit Rider provided that the rider option is chosen by the customer.
- The nominee or insured individual will receive benefits resulting from DHFL Pramerica Traditional Critical Illness Rider if the option is chosen by the customer.
- Riders: Customers have the option to make their plan more comprehensive by choosing additional benefits such as riders. Riders are crucial add-ons as they allow customers to customise the plan to suit their own personal requirements, thus enabling you to attain maximum benefits from the policy. The two policies available include DHFL Pramerica Traditional Accidental Death Benefit Rider and DHFL Pramerica Traditional Critical Illness Rider. The first rider provides an additional predetermined sum assured to the beneficiaries while the second offers coverage if the Life Assured is diagnosed with any of the ten surgeries / conditions / critical illnesses such as blindness, heart attack, arota surgery, cancer, open chest CABG, repair of heart valves, open heart replacement, kidney failure, bone marrow / major organ transplant, stroke and permanent paralysis of limbs.
- The minimum entry age for this policy is 18 years and the maximum is 55 years.
- The minimum policy term is 5 years and the maximum is 30 years.
- The maximum age of the individual at the time of maturity should not exceed 65 years.
- The monthly family income of the individual must be at least Rs.2,000.
- Premium payments can be done on a monthly, quarterly, semi-annual or annual basis.
- Premium payments must be done on Regular Pay basis.