DHFL Pramerica has been in the life insurance business in India for over a decade. The company had launched its very first product, Family Income Plan, in the year 2008 after it received its approval from the IRDAI. Today, the company offers a gamut of products that customers can choose from based on their preferences and financial appetites. The plans include protection plans, health plans, savings plans, child progress plans, group plans, and online plans. Along with the product options, the company also offers several options to make premium payments.
Given below are some of the modes by which you can make the premium payment to your DHFL Pramerica life insurance policy:
The insurer offers three ways in which you can pay the premium towards your life insurance policy online:
An individual can pay the premium through a quick pay option through the company’s official website by following the procedure below:
The Electronic Clearance System (ECS) is an auto-debit facility that deducts the premium amount from your bank balance automatically. The procedure to apply for this facility is as follows:
The form can be submitted any time during the policy term at least 2 months prior to the premium due date. This facility is free of cost to all policyholders.
You can pay the premium from your bank account through National Electronic Fund Transfer (NEFT). The steps to be followed are:
|Name of beneficiary||DHFL Pramerica Life Insurance Company Ltd.|
|Name of bank||HDFC Bank Ltd.|
|Name of bank branch||Sandoz Branch, Mumbai|
HDFC bank account holders will have to transfer the amount through net banking as NEFT transfers for premium payments is not possible.
You can choose to carry out the NEFT transfer process at your bank branch, provided your bank is NEFT enabled.
The following offline payment options can also be chosen:
You can visit the nearest DHFL Pramerica life insurance branch office and pay the premium by cash, credit card, cheque, or demand draft. The cheque or demand draft should be in favour of DHFL Pramerica Life Insurance Co. Ltd. Write your name, policy number, and contact details at the back of the cheque/demand draft.
You can also request the insurance company to pick up your premium payment cheque from your home. Follow the following steps to do so:
You can also call the toll-free customer service helpline to make the premium payment over the phone, using your credit card. Make sure you have the phone number registered to your credit card with you, so that you can enter the OTP when prompted.
You can walk into the nearest SBI bank branch to pay the premium towards your DHFL Pramerica life insurance policy too. To download the deposit slip, which needs to be submitted at the bank branch, follow these steps:
Fill in the deposit slip and submit it along with the premium amount at the SBI branch.
You can choose to pay the premium for your life insurance policy at an Axis bank branch too. You can pay by cash, cheque, or demand draft. The maximum cash limit, in this case, is Rs.50,000. You can carry the renewal notice when you go for the premium payment.
This premium payment option is not available for top-up payments.
The premium amount can be paid at a post office counter through a money order form. The payee name shall be DHFL Pramerica Life Insurance Co. Ltd. The amount on a single money order form cannot exceed Rs.5,000.
Alternatively, you can submit a bank guarantee to DHFL Pramerica when you purchase the policy. The guarantee will be invoked if you fail to pay the premium.
Thus, you can pay the premium towards your life insurance plan through any of the online or offline payment modes mentioned above.
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