Managing finances is not a very difficult task, but owing to the unpredictable nature of economy, it is better to be safe rather than sorry. It is essential for customers to manage their hard earned money in the right and investing it in the right schemes and options. One of the foolproof options is to invest in insurance plans as this will guarantee a corpus at the right time. Life Insurance options in particular provide customers with the right investment platform and also provide the family of the insured in case of his/her untimely death.
DHFL Pramerica Smart Cash Protect is a plan that takes care of the policyholder’s regular and long term expenses by providing regular income through cash benefits every year along with lump sum payouts.
Eligibility Conditions for DHFL Pramerica Smart Cash Protect
|Premium Payment Term|
|Policy Term||70 - entry age||75 - entry age||85 - entry age|
|Policy Tenure - Minimum||30 years||35 years||40 years|
|Policy Tenure - Maximum||47 years||55 years||67 years|
|Maximum Age of Maturity||85 years||90 years||90 years|
|Premium Payment Tenure||12 years / 15 years / 20 years|
|Mode for Premium Payment||Yearly, Half-yearly, Monthly|
|Minimum Premium||Rs. 12,000|
|Maximum Premium||No limit and is subject to underwriting|
|Minimum Assured Sum||Rs. 1,25,000|
|Maximum Assured Sum||No limit and is subject to underwriting|
Key Features of DHFL Pramerica Smart Cash Protect
|Plan Type||Insurance cum participating endowment plan|
|Maturity Benefits||50 percent of the assured sum along with final bonus, if applicable.|
|Survival Benefit||Post 15th policy year|
Benefits of DHFL Pramerica Smart Cash Protect
This DHFL Pramerica Life plan comes with numerous benefits and features.
- In case of untimely demise of the insured, his/her nominee will receive an assured death benefit. In case this occurs during the first 15 years of the policy, then the nominee will receive assured death sum along with accrued reversionary bonus and final bonus if applicable. In case the policyholder’s demise occurs after the 15th policy year then his/her nominee will receive assured death sum along with final bonus. The assured death sum in this case is 11 X annualised premium or 50 percent of assured sum.
- After the 15th year of policy, as survival benefit, customers will receive reversionary bonus that has been accrued in those fifteen years.
- Post 16th policy year until maturity, the insured will receive a bonus every year.
- Post 16th policy year until maturity, the insured will receive yearly payouts which is equal to 6 percent of the assured sum.
- As maturity benefit, insured will receive 50 percent of assured sum and final bonus, if applicable.
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GST of 18% is applicable on life insurance effective from the 1st of July, 2017