Life Insurance is advertised as being a security blanket during the occurrence of unfortunate events. Procuring a life insurance policy enables a person to lead life a little more peacefully as he/she is assured of their family’s well-being in case of their untimely death. There are a number of policies available with various benefits and features that can be chosen.
Being financially secure is of utmost importance. This is because everything revolves around money, all kinds of goods and services can only be availed if a person has money. Ensuring the security of dependent is imperative today and with myriad policies available to safeguard a family’s financial security, the process is a lot easier.
Why DHFL Pramerica?
One of the fastest growing a dynamic insurance providers in the country, DHFL Pramerica Life is headquartered in Gurgaon and services thousands of customers throughout the country. The company offers insurance plans to suit everybody’s needs and requirements. A systematic approach to savings and investments can be availed by opting for one of their insurance plans.
DHFL Pramerica Aajeevan Samriddhi
The Aajeevan Samriddhi plan by DHFL Pramerica is a savings plan as well along with being a whole life participating insurance cover. Through this plan, customers can avail financial security until their 99th year along with procuring a corpus when they are 65 years old.
- In case of untimely demise of the insured, the nominee receives assured death benefit.
- When the insured turns 65 years old, he/she will be paid the ‘Accrued Reversionary Bonuses’ and the ‘Accrued Guaranteed Additions’ as part of the survival benefit.
- At the end of the policy term, the insured receives maturity benefit including a final bonus, if any and the basic sum that has been assured.
- Insured will be eligible to receive 40 for 1000 sum assured as guaranteed additions for the first five years of the policy.
DHFL Pramerica Flexi Cash
This plan is a non-linked endowment plan that is participatory in nature, allowing customers to control their plan. It also allows customers to manage their financial needs as per their convenience.
- In case of the unfortunate death of the insured during the term of the policy and if the policy is in force, the nominee receives both the accrued Reversionary Bonus and Death sum that has been assured along with a final bonus, if any.
- At policy maturity, the insured will receive a benefit that is equal to 100 percent of the base sum assured that was chosen at the beginning along with the ‘Accrued Reversionary Bonus’ and a final bonus, if any.
- Customers also have the option of advancing the date of their maturity wherein they will be eligible to receive complete benefits of the policy. There will not be any discount factors applicable during this period.
- 10 percent of the yearly premium will be provided as guaranteed loyalty benefit every year at the commencement of the year from the start of the second year of policy until the rest of the premium term for payment.
DHFL Pramerica Magnum Assure
A non participating endowment insurance plan, the Magnum Assure provides customers with dual benefits allowing them to maintain financial security.
- The payout period will commence from the month of the death of the insured or from the date of policy maturity, whichever is earlier.
- In case of untimely demise of the insured, the nominee will receive the death sum assured through equal monthly installments during the period of payout.
- In case the insured survives until the date of policy maturity, then he/she will receive maturity benefit.
- Tax benefits are applicable on this policy.
- Insured customers can also procure loan against the Magnum Assure policy after the surrender value has been acquired, prior to payout to 80 percent of the surrender value.
DHFL Pramerica Premier Gain
This policy is a participating endowment plan that is non-linked along with the chance to avail attractive returns.
- In case of untimely death of the insured, the nominee will receive a sum of the assured death sum, final and interim bonus, if any and the accrued reversionary bonus. This death sum is the highest of assured base sum and 10x annualized premium.
- Upon policy maturity, insured will receive accrued reversionary bonus along with base sum that has been assured and the final bonus, if any.
- Tax benefits are applicable on this policy as per the current laws.
- After the policy acquired surrender value, the insured can procure a loan against this for a maximum of 80 percent of the surrender value.
DHFL Pramerica Roz Sanchay
A savings and a protection plan, the Roz Sanchay offer from DHFL Pramerica is a non-participating guaranteed endowment plan that has limited pay. Benefits are guaranteed.
- In case of untimely death of the insured during the tenure of policy, accrued annual guaranteed additions and base death benefit is payable.
- The maturity amount is guaranteed to policyholders and is a sum of the following - 150 percent of the assured base sum and accrued annual guaranteed additions assuming the policy is in force.
- A percentage of the assured base sum is the annual guaranteed additions and this is added to the benefits received by the policy.
DHFL Pramerica Sahaj Suraksha
The Sahaj Suraksha plan by DHFL Pramerica is a participating savings and a protection policy that is long term in nature. Through this plan, customers receive a corpus when they attain the age of 75.
- When the insured is 75 years old, the policy will mature and a sum of the assured basic sum and accrued reversionary bonus will be paid along with a final bonus, if any.
- The assured death sum, interim and final bonus, if any along with the accrued reversionary bonus will be provided in case of the insured’s untimely death.
DHFL Pramerica Smart Assure
This is an endowment policy that is non-participatory in nature and provides guaranteed death and maturity benefits.
- In case of the insured’s untimely demise during the term of the policy. The death sum assured will be paid to the nominee along with the accrued maturity additions, if there is any.
- On policy maturity, the insured will receive maturity additions and the maturity sum that was assured.
- An auto cover continuation feature is available with this plan wherein if the premium has been paid completely for 3 years but not for the subsequent one, the complete death benefit will be continued for the successive year.
- Tax benefits are available.
- Customers can procure a loan against this policy.
DHFL Pramerica Smart Cash Protect
An insurance as well as a participating endowment plan, the Smart Cash Protect is an all rounder plan that takes care of long term as well as regular expenses.
- In case of insured’s unfortunate death prior to completion of term, the nominee will receive accrued reversionary bonus along with assured death sum as well as final bonus, in case there is any.
- The insured will get reversionary bonus accrued during the first fifteen terms of the policy as survival benefit.
- The bonus that has been declared every year will be given to the policyholder.
- Yearly payouts that are equal to 6 percent of the assured sum will be provided to the holder of the policy.
- Half of the assured sum along with a final bonus, if any will be provided as maturity benefit.
DHFL Pramerica Smart Income
A life insurance policy that allows customers to customize the policy to suit their requirements, the Smart Income policy is non-participating and guarantees annual income.
- Lump sum equal to the death sum assured will be provided as death benefit.
- Yearly payouts for a term that is equal to the payout tenure will be provided as maturity benefit.
- Customers are eligible to receive tax benefits by procuring this plan.
- Loan can also be availed against this policy.
DHFL Pramerica Smart Money Back
Smart Money Back policy by DHFL Pramerica allows policyholders to achieve their financial aims and provides payouts periodically allowing them to build a secure financial future.
- In case of untimely demise of insured, the nominee will receive the complete assured death sum and the accrued reversionary bonuses along with any interim, final bonuses.
- As part of the survival benefit, the insured will receive a part of the assured base sum at specified intervals throughout the policy term.
- A maturity benefit of final and accrued reversionary bonus will be provided.
- Customers can avail tax benefits.
- Loans can be procured against this policy.
DHFL Pramerica Smart Wealth+
A unit linked insurance policy that is non-participating, this policy helps customers achieve their financial goals.
- The fund value will be provided to the customer upon maturity and rider risk and death cover will not exist post policy maturity.
- In case of untimely demise of the insured. Death benefit that is equal to higher of the assured sum or value of fund that has been subjected to minimum of 105 percent of the paid premium will be provided to the nominee.
- Customers can conserve their capital towards the end of their term when their investment is to be paid back.
- Persistency units will be provided
- Protection can be enhanced by opting for the accidental death benefit rider.
- Surrender value is acquired right from the first year of policy but it is payable only after five years have been completed.
DHFL Pramerica Wealth+ Ace
This policy is a unit linked plan with premium that can be paid in a single lump sum amount. A secure financial future can be achieved by opting for this policy due to its numerous benefits.
- The fund value along with persistency unit value will be paid as maturity benefit.
- Death benefit is also provided.
- Thanks to the Systematic Transfer Plan, a specific amount can be invested in any of the fund options available such as debt fund, Growth fund, Balance fund and Large Cap equity fund.
- Persistency Units will be added to the unit account of the insured.
- Riders and tax benefits are available.
- Customers can also procure a loan against this policy.
DHLF Pramerica e Save
As the name suggests, this is an online endowment insurance plan that is non participating and guaranteed death and maturity benefits.
- In case of an untimely demise of the policyholder during term of the policy, an amount that is equal to the sum of accrued guaranteed additions and assured death sum will be provided.
- Assured base sum along with the accrued annual guaranteed additions will be provided as maturity benefit.
- Annual guaranteed additions will be provided.
- Tax benefits are available and customers can also procure a loan against this policy.
There are a number of policies available in the market today. Customers must keep various pointers in mind before choosing the policy that is most suitable for them and their families.
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GST of 18% is applicable on life insurance effective from the 1st of July, 2017