DHFL Pramerica Life Insurance Online Premium Payment

• Premiums as low as Rs.17/day for sum assured of Rs.1 crore*
• Claim up to Rs. 1,50,000 deduction under section 80C**
• Choose between annual and monthly premium payment options

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:

Online premium payment

The insurer offers three ways in which you can pay the premium towards your life insurance policy online:

• DHFL Pramerica’s official website

An individual can pay the premium through a quick pay option through the company’s official website by following the procedure below:

• Visit the official website (https://www.dhflpramerica.com/).
• Scroll down to the menu bar and click on “Customer Service”.
• Here, you will find a vertical menu on the right-hand side with the first option, “Pay Online”. Click on it.

• A pop-up will appear that will ask you to select either “Pay First Premium” or “Pay Renewal Premium”. Click on the relevant option.
• In the next step, you will have to provide your policy and premium details if you are paying the premium for a fresh policy. Those who wish to renew the policy will have to enter only the policy number, date of birth, and captcha code.
• Select the preferred payment mode and make the premium payment.

• ECS

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:

• Download the ECS Mandate, also called the Direct Debit Mandate, from the official website.
• Fill in all the details and submit it along with an original cancelled cheque with the policyholder’s name or a copy of a self-attested bank statement or a passbook for verification of the account details mentioned in the mandate form.
• You can either submit the above-mentioned documents at a DHFL Pramerica branch office or hand it over to the salesperson or courier it to the company address.

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.

• NEFT

You can pay the premium from your bank account through National Electronic Fund Transfer (NEFT). The steps to be followed are:

• Go to the official website of your bank.
• Find the money transfer option and follow the instructions given.
• Look for the ‘Add beneficiary’ field and add DHFL’s account details as given below:

• You can now transfer the premium amount to the insurer.

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.

Other options

The following offline payment options can also be chosen:

• DHFL Pramerica’s branch offices

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.

• Cheque pick up

You can also request the insurance company to pick up your premium payment cheque from your home. Follow the following steps to do so:

• Visit the home page of the insurer’s official website (https://www.dhflpramerica.com/).
• On the right-hand side menu bar, you can find an option “Cheque Pickup". Click on the option.

• On the redirected page, enter your contact details, policy information, and time and date for cheque pick up.
• Enter the captcha code and click on “Submit".
• The cheque will be picked up by a representative of the company as per the date and time mentioned.

• Customer service helpline

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.

• SBI branches

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:

• Visit the insurer’s website (https://www.dhflpramerica.com/).
• Click on “Customer Service" on the menu bar visible at the middle of the home page.

• Then, click on “Premium Payment Options".
• From the list of premium payment options, click on “SBI branches".
• Then, click on the PDF link to download the deposit slip.

Fill in the deposit slip and submit it along with the premium amount at the SBI branch.

• Axis Bank branches

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.

• Postal Money order

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.

• Bank guarantee

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.