It is not often that we come across a product which offers dual benefits, which is why DHFL Pramerica Premier Gain is a special plan in the current context. Combining the benefits of financial protection and high returns, this doubles as a protection cum growth plan, offering attractive returns on an investment. Designed for a modern lifestyle, it ensures that one can carry on with life without having to worry about the future.
Eligibility Criteria for DHFL Pramerica Premier Gain
Individuals need to satisfy a few basic criteria in order to be eligible for this plan.
|Minimum entry age||
|Maximum entry age||
|Maximum age at maturity||70 years|
|Minimal annual premium||
Key Features of DHFL Pramerica Premier Gain
Some of the distinguishing features of DHFL Pramerica Premier Gain are mentioned below.
|Plan type||Participating Non-Linked Endowment Insurance Policy|
|Premium payment term||
|Maturity benefit||Sum assured plus bonuses accrued will be paid on maturity|
|Premium payment frequency||
|Loan||A loan can be availed against this policy, subject to certain conditions|
|Surrender value||Policyholders can choose to surrender a policy, with a surrender value paid depending on the time it was active for|
|Free look period||
Policyholders can choose to return the policy within this period if they disagree with the terms and conditions
|Grace period||A 30 day grace period is provided to pay the premium|
|Revival/Renewal||Lapsed policies can be renewed by paying all dues and fines within 2 years of first unpaid premium|
|Sum assured||Minimum of Rs 3.5 lakhs|
|Policy coverage||Death Benefit, Maturity Benefit and Bonuses|
Benefits/Advantages of DHFL Pramerica Premier Gain
Some of the major benefits of investing in DHFL Pramerica Premier Gain are mentioned below.
- Flexibility – Policyholders have flexibility in terms of premium payment modes and protection required.
- Limited premium payments – Premiums need to be paid only for a specific duration, offering complete protection at lower costs.
- Bonus – Policyholders can earn a Compounded Reversionary Bonus, a Final Bonus and an Interim Bonus.
- Loans – Policyholders can avail loans against a policy, subject to certain conditions.
- Tax savings – Policyholders are eligible for tax benefits as per existing tax laws.
- Maturity benefit – A maturity benefit equivalent to the sum assured plus any bonus accrued will be paid on maturity of a policy.
- Death benefit – In the event of unfortunate demise of a policyholder, his/her nominee will receive a death benefit equivalent to the sum assured plus all bonuses accrued.
Working of DHFL Pramerica Premier Gain
DHFL Pramerica Premier Gain works in a manner similar to most other plans, offering maturity and death benefits to investors. Let us consider the example of Mr. Rakesh, a news presenter to understand this DHFL Pramerica Life policy. Rakesh, who is 35 years old and married with two children decides to invest in this plan, choosing a policy with a 25 year term. He invests Rs 1 lakh every year for a period of 10 years, with the sum assured being Rs 12.50 lakhs.
Let us consider the following scenarios to explain the working of this plan.
Scenario 1: Mr. Rakesh stays hale and hearty, with the policy maturing after 25 years. In this case he will be eligible for a maturity benefit which is equivalent to the sum assured plus the bonus accrued.
Scenario 2: Mr. Rakesh passes away while the policy is in place. In this case, his nominee will receive the death benefit which comprises the sum assured and bonuses accrued during this period.
|Policy term||Minimum annual premium||Maximum annual premium|
|10 years||Rs 75,000||No upper limit|
|15 years||Rs 50,000||No upper limit|
|20 years||Rs 50,000||No upper limit|
|25 years||Rs 50,000||No upper limit|
There are no additional riders available with this plan.
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GST of 18% is applicable on life insurance effective from the 1st of July, 2017