Dfl Pramerican Family Business Plan
DHFL Pramerica Family First – Overview
DHFL Pramerica Family First is a monthly benefit term insurance plan. It offers twin death benefits upon the demise of the life insured in the form of a lump sum payout, paid immediately to take care of the family’s immediate needs and a regular monthly income to take care of the family’s everyday recurring expenses in the future. This protection plan is designed to ensure that the family of the life insured does not face any financial adversity in their lives. The plan is available at competitive premium rates to cater to a wider range of customers.
Key Features
• Pure Term Insurance: This pure term plan is designed to provide protection and financial stability to the family in the absence case of the life insured
• …show more content…
Financial Protection at a Nominal Cost: This plan is available at affordable and attractive premium rates so that more people can benefit from a life insurance cover
• Premium Payment Frequency: Insurance premium can be paid in one of 4 available options viz. annually, semi-annually, quarterly or monthly
• Lump Sum Benefit: In the event of the demise of the life insured, a lump sum benefit is paid at once to take care of the family’s immediate needs. This lump sum amount is equal to 20 times the chosen monthly income.
• Monthly Income Benefit: In the absence of the life insured, an assured monthly income is paid to the family till the end of the policy term to take care of everyday recurring expenses
• Guaranteed Income for 48 months: The monthly income is guaranteed for a minimum of 48 months in addition to the lump sum payout even if claim occurs in the last 4 policy years
• Facility of Optional Riders Available: The risk cover under the plan can be enhanced by adding elective riders on payment of a nominal extra amount.
The choice of riders is given below: o DHFL Pramerica Traditional Accidental Death Benefit Rider o DHFL Pramerica Traditional Critical Illness Rider
Benefits
• Death Benefit: In the event of the passing away of the life insured during the term of the policy, the beneficiary/nominee receives the following Death Benefit: o A lump sum benefit equal to 20 times of the monthly income chosen (paid immediately upon death of the life insured) o A regular monthly income from the date of death of the life insured till the end of the policy tenure, subject to a minimum guaranteed 48 monthly instalments
The monthly income can be optionally taken as a lump sum. In such a case, the amount will be equal to the discounted value of all future monthly income payable.
• Maturity Benefit: If the life insured survives till the end of the policy term, no Maturity Benefit is given since this is a pure protection
plan
• Tax Benefits: The premium paid is exempt from taxation under Section 80C and the claim received (benefit) is exempt under Section 10(10D) of the Income Tax Act, 1961
Product Specifications
Minimum Maximum
Entry Age (Last Birthday) 18 years 50 years
Maturity Age (Last Birthday) - 65 years
Policy Term 10 years 30 years
Premium Payment Option Regular Pay
Premium Payment Mode Annual, Semi-annual, Quarterly, Monthly
Annual Premium Amount Annual, Semi-annual and Quarterly modes: Rs. 2,000
Monthly mode: Rs. 2,400 -
Monthly Income Rs. 4,000 -
DHFL Pramerica Family First is a monthly benefit term insurance plan. It offers twin death benefits upon the demise of the life insured in the form of a lump sum payout, paid immediately to take care of the family’s immediate needs and a regular monthly income to take care of the family’s everyday recurring expenses in the future. This protection plan is designed to ensure that the family of the life insured does not face any financial adversity in their lives. The plan is available at competitive premium rates to cater to a wider range of customers.
Key Features
• Pure Term Insurance: This pure term plan is designed to provide protection and financial stability to the family in the absence case of the life insured
• …show more content…
Financial Protection at a Nominal Cost: This plan is available at affordable and attractive premium rates so that more people can benefit from a life insurance cover
• Premium Payment Frequency: Insurance premium can be paid in one of 4 available options viz. annually, semi-annually, quarterly or monthly
• Lump Sum Benefit: In the event of the demise of the life insured, a lump sum benefit is paid at once to take care of the family’s immediate needs. This lump sum amount is equal to 20 times the chosen monthly income.
• Monthly Income Benefit: In the absence of the life insured, an assured monthly income is paid to the family till the end of the policy term to take care of everyday recurring expenses
• Guaranteed Income for 48 months: The monthly income is guaranteed for a minimum of 48 months in addition to the lump sum payout even if claim occurs in the last 4 policy years
• Facility of Optional Riders Available: The risk cover under the plan can be enhanced by adding elective riders on payment of a nominal extra amount.
The choice of riders is given below: o DHFL Pramerica Traditional Accidental Death Benefit Rider o DHFL Pramerica Traditional Critical Illness Rider
Benefits
• Death Benefit: In the event of the passing away of the life insured during the term of the policy, the beneficiary/nominee receives the following Death Benefit: o A lump sum benefit equal to 20 times of the monthly income chosen (paid immediately upon death of the life insured) o A regular monthly income from the date of death of the life insured till the end of the policy tenure, subject to a minimum guaranteed 48 monthly instalments
The monthly income can be optionally taken as a lump sum. In such a case, the amount will be equal to the discounted value of all future monthly income payable.
• Maturity Benefit: If the life insured survives till the end of the policy term, no Maturity Benefit is given since this is a pure protection
plan
• Tax Benefits: The premium paid is exempt from taxation under Section 80C and the claim received (benefit) is exempt under Section 10(10D) of the Income Tax Act, 1961
Product Specifications
Minimum Maximum
Entry Age (Last Birthday) 18 years 50 years
Maturity Age (Last Birthday) - 65 years
Policy Term 10 years 30 years
Premium Payment Option Regular Pay
Premium Payment Mode Annual, Semi-annual, Quarterly, Monthly
Annual Premium Amount Annual, Semi-annual and Quarterly modes: Rs. 2,000
Monthly mode: Rs. 2,400 -
Monthly Income Rs. 4,000 -