Every earning member strives to fulfil the financial requirements of his or her family and also gives prime importance to saving money. But, sometimes, just your savings won’t suffice to face life’s uncertainties and other financial emergencies. In case of an eventuality, a member’s dependants will also face financial difficulties.
Specially designed to help you meet all uncertainties with confidence, DHFL Pramerica Roz Sanchay is a savings cum protection plan that guarantees annual addition that increases every year during the term of policy. Also, the policyholder will be informed of the maturity amount even before the commencement of policy and hence, he will be able to plan better. Also, the increasing death benefit in addition to accrued annual guaranteed addition will make sure that the policyholder’s family is covered financially always.
Eligibility Conditions for DHFL Pramerica Roz Sanchay
The table below summarizes the eligibility criteria for DHFL Pramerica Roz Sanchay.
|Minimum age at entry||8 years|
|Maximum Age at entry||
For 16 years policy term - 50 years
For 21 years policy term - 45 years
|Maturity Age||66 years|
|Policy Tenure||16 years, 21 years|
|Premium Payment Tenure||
For 16 years policy term - 12 years
For 21 years policy term - 16 years
|Modes of Premium Payment||Yearly, half yearly and monthly|
|Maximum Premium||Depends on the basic assured sum chosen, entry age and tenure for premium payment|
|Minimum Basic Assured Sum||
For 16 years policy term - Rs. 1 lakh
For 21 years policy term - Rs. 1.2 lakhs
|Maximum Basic Assured Sum||Rs. 5 crore|
Key Features of DHFL Pramerica Roz Sanchay
The key features of DHFL Pramerica Roz Sanchay are described below.
|Policy Term / Rider Term||16 years to 21 years|
|Maturity Benefits||Guaranteed Maturity Benefit of 150 per cent of basic sum assured along with Accrued AGAs|
|Premium Payment Frequency||Half yearly, monthly and annual|
|Loan Availability||Loans will be available once the policy acquired surrender value and can be used for loans up to 80% of the surrender value.|
|Nominee||Allowed. Nomination will be as per section 39 of Insurance Act, 1938 as amended from time to time.|
|Grace Period||A grace period of 30 days is available for this plan..|
|Surrender Benefit||Surrender value will be equal to special surrender value (SSV) or guaranteed surrender value (GSV), whichever is higher.|
|Free Look Period||Normal cases - 15 days If the policy is sold through distance marketing - 30 days|
|Assignment||Assignment of this policy is effected as per section 38 of Insurance Act, 1938 as amended from time to time.|
|Benefits||Death benefit and maturity benefit|
Benefits of DHFL Pramerica Roz Sanchay
The benefits that come with DHFL Pramerica Roz Sanchay are described below.
- In case of the unfortunate event of policyholder’s death during the policy term, the nominee will get accrued AGAs plus the base death benefit.
- On maturity of the policy, the policyholder will get the following - Accrued AGAs plus 150 per cent of the base sum assured.
- DHFL Pramerica Roz Sanchay provides a comprehensive cover with increasing protection. The base death benefit is 150 per cent of the sum assured for the first year of policy and keeps increasing by 5 per cent of the base sum assured for every policy year that is completed until the end of policy term.
- Policyholders are offered an option to avail loan against the policy.
- DHFL Pramerica Roz Sanchay insurance policy holders can also pay the premium for a limited term only.
- DHFL Pramerica Roz Sanchay insurance policy holders get tax benefits on benefits received and premiums paid as per current tax laws.
- Guaranteed Maturity Benefit - At the outset of this DHFL Pramerica Life policy, a maturity benefit of 150% of the base sum assured plus the accrued AGAs is guaranteed. Because the return is known even before the commencement of policy, the insured will be able to take the right decisions and make suitable financial plans for future.
Benefit Illustration for DHFL Pramerica Roz Sanchay
Given below is a sample annual premium table for a male with a sum assured (basic) of Rs. 1. 2 lakhs.
|Policy Term||35 Years||45 Years|
|16 years||Rs. 15, 360||Rs. 16, 360|
|21 years||Rs. 11, 774||Rs. 12, 997|
Refer the table given below to find the accrual benefits for a policyholder over the course of the policy tenure.
|Entry Age||Standard Male - 35 years|
|Premium payment Term||12 years|
|Base sum assured||Rs. 1. 2 lakhs|
|Policy Term||16 years|
|Annual premium||Rs. 15, 360|
|Premium Payment Mode||Annual|
|Accrued AGAs as of policy maturity||Rs. 90, 480|
|Guaranteed Maturity Benefit||Rs. 1. 2 lakhs * 150 % + Rs. 90. 480 which will come to Rs. 2, 70, 480|
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GST of 18% is applicable on life insurance effective from the 1st of July, 2017