Pramerica Life Smart Assure Plan

1. Eligibility: The entry age starts from 8 years old, and maximum age varies by policy term (up to 60 years). The maximum maturity age is 70 years. 

1. Tax Benefits: The premiums paid for this plan, and the payouts may be eligible for tax benefits as per prevailing tax laws. 

1. Free look period: This plan allows you to review the terms and conditions of  the policy. If you wish, you can cancel the policy within 15 days (or 30 days for distance marketing policies) from the date of receipt of the policy document. Upon cancellation, the premiums paid will be refunded after deducting charges for medical tests, stamp duty, and the proportionate risk premium for the period the policy was active. 

1. Nomination facility: This plan also offers the nomination facility. This means you appoint a nominee to receive the policy benefits in the case of unfortunate events. This nomination is in line with the guidelines provided under Section 39 of the Insurance Act, 1938. You can name or update the nominee details during the policy term. 

1. Loan facility: You can avail yourself of a loan against the policy once it reaches the surrender value, with the loan amount capped at 80% of that value. The interest rate applicable to the loan will be announced by the company annually at the start of each financial year. 

Eligibility Conditions for Pramerica Life Smart Assure Plan: 

The eligibility criteria for Pramerica Life Smart Assure Plan are as follows: 

How the DHFL Pramerica Smart Money Back Works

1. To begin with, you can choose a base sum assured as desired. The minimum requirement is Rs120,000.
2. Choose the policy term and the premium payment term from the available options as per convenience. The available policy term options are 16 and 20 years.
3. You can look forward to money back as per the intervals available. The survival benefit will be a percentage of the base sum assured.
4. Upon maturity, you can look forward to receiving revisionary and final bonuses.
5. A death benefit along with the available bonuses will be paid out in case of demise of the insured member during the policy term.
6. Revival of the policy can be done for up to 2 years from the date of last unpaid premium.

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