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DHFL Pramerica Aajeevan Samriddhi Plan

DHFL Pramerica Aajeevan Samriddhi is a life insurance plan that ensures financial protection for your family both during your lifetime and after it. It is also a great way to make sure that your post retirement expenses are taken care of.

Eligibility Criteria for DHFL Pramerica Aajeevan Samriddhi

Given below are the eligibility criteria for DHFL Pramerica Aajeevan Samriddhi:

Minimum age at the time of entry 8 years
Maximum age at the time of entry

PPT 15 years: 50 years

PPT 20 years: 45 years

Maturity Age 99 years
Policy Term (99 – Entry Age) in complete years
Premium Paying Term 15 and 20 years
Premium Paying Mode Yearly, Half-Yearly and Monthly
Minimum Premium Rs. 5,500 (Yearly)
Maximum Premium Maximum Premium depends on the premium payment term, the chosen basic sum assured and the age at entry.
Minimum Basic Sum Assured Rs. 75,000
Maximum Basic Sum Assured No limit subject to underwriting

Key Features of DHFL Pramerica Aajeevan Samriddhi

Listed below are the key important features of DHFL Pramerica Aajeevan Samriddhi

Type A participating whole life insurance cum savings plan
Basis Individual
Policy terms 15 and 20 years
Premium modes Monthly, semi-annual, annual
Policy period Insurance coverage till the policy holder turns 99 year old. This is irrespective of what his/ her age is at the inception of the policy.
Surrender For the first three policy years there is an option to surrender the policy after payment of premium in full.
Guaranteed Additions For the first 5 years of the policy, Guaranteed Additions will accrue
Increasing Protection According to the policy holder’s age, the death benefit keeps increasing. This makes sure that increasing family responsibilities are taken care of as he/ she grows older.
Wealth Accumulation through bonus additions There is an option of bonus on your policy which means that you can build on your dreams quickly.
Lump sum Benefit Once you attain 65 years of age, the policy will offer a lump sum payout of accrued Reversionary Bonuses and accrued Annual Guaranteed Additions so that your retirement years are comfortable.
Enhanced Cover Until the end of the policy term, the basic death benefit at the end of premium payment term will continue
Loan facility Once it acquires surrender value, loan facility is offered. The loan will be guaranteed up to 65% of the surrender value.
Convenient Premium Payment Options The policy holder can choose among the option of 15 and 20 years as premium payment term
Flexibility to borrow against the policy If in need of an emergency fund, the policy holder has the option of availing a loan against the policy
Tax Benefit According to the prevailing tax laws, policy holder will be able to get tax benefits on the premiums paid.

Benefits of DHFL Pramerica Aajeevan Samriddhi

Listed below are the benefits of DHFL Pramerica Aajeevan Samriddhi

Benefits Trigger of Benefit
Death Benefit Within initial 5 policy years After 5 policy years till attaining age 65 as on last birthday After attaining age 65 till 99 as on last birthday
  • Accrued Guaranteed Additions
  • Basic Death Benefit
  • Accrued Reversionary Bonuses
  • Basic Death Benefit
  • Accrued Guaranteed Addition
  • Final Bonus if any
  • Final Bonus if any
  • Basic Death Benefit
Maturity Benefit On attaining age 99 years as on last birthday i.e. at end of policy term
  • Final Bonus, if any
  • Basic Sum Assured
Survival Benefit Survival Benefit
  • Accrued Guaranteed Additions
  • Accrued Reversionary Bonuses

Basic Death Banefit:

Policy Year Basic Death Benefit (For PPT 20 years) Basic Death Benefit (For PPT 15 years)
1 - 10 Max of (11 * Annual Premium) or Basic Sum Assured Max of (11 * Annual Premium) or Basic Sum Assured
11 - 15 Max of (16 * Annual Premium) or Basic Sum Assured Max of (16 * Annual Premium) or Basic Sum Assured
16 + Max of (22 * Annual Premium) or Basic Sum Assured Max of (16 * Annual Premium) or Basic Sum Assured

How does DHFL Pramerica Aajeevan Samriddhi work?

First the policy holder must choose the basic sum assured. This amount must be a minimum of Rs. 75,000. Next is the choice of the duration for which the premiums must be paid. There is an option of 15 or 20 years. The premium payable will be calculated based on the age, the premium payment term chosen and basic sum assured.

For the first 5 years, Guaranteed Additions will accrue annually. From the 6th policy year until the policy holder turns 65 years old, Compounded Reversionary Bonus will accrue to the policy. The reversionary bonuses will become guaranteed once this amount is accrued. Once the policy holder becomes 65 years old, he/ she will receive accrued Guaranteed Additions. This is in addition to all the accrued Reversionary Bonuses. Finally, upon policy maturity, the policy holder will receive Basic Sum Assured and Final Bonus, if any.

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GST of 18% is applicable on life insurance effective from the 1st of July, 2017

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