DHFL Pramerica Flexi Cash Plan

The DHFL Pramerica Flexi Cash Plan gives you maximum flexibility and control of your own policy. This non-linked endowment plan helps you meet your financial requirements. This plan gives you the power to invest wisely now in order to reap the benefits later. The plan makes provisions that cater to every milestone of life that you and your family might encounter.

Eligibility – Who is the DHFL Pramerica Flexi Cash Plan for?

To be eligible to buy the DHFL Pramerica Flexi Cash Plan, a customer has to fulfil certain criteria set out by the insurance provider. The eligibility criteria that needs to be met has been mentioned below:

Parameters	Criteria for Eligibility
Minimum age at entry	8 years
Maximum age at entry	15-year term - 60 years 25-year term - 50 years 35-year term - 40 years
Maximum age at maturity	75 years
Term of policy	15-year term 25-year term 35-year term

*Ages mention are the ages as on the last birthday

Sum Assured and Premium Range – What you get and what it costs

Be insured for a minimum of Rs.1.7 lakh with the Flexi Cash plan. Save more in order to get more through rebates on premiums for high sums assured. Given below are the details pertaining to the premiums and sums assured:

Particulars	Details
Minimum premium	Rs.17,000 p.a.
Maximum premium	Depends on the chosen basic sum assured, premium payment term and entry age
Minimum sum assured	15-year term - Rs.1.7 lakh 25-year term - Rs.1.7 lakh 35-year term - Rs.2 lakh
Maximum sum assured	No limit, subject to underwriting
Premium payment term	15-year term - 5 years 25-year term - 10 years 35-year term - 15 years
Premium payment frequencies	Monthly, semi-annually, annually

*Premiums may vary depending upon factors like age, term of plan, location, etc.

Plan Coverage – What the DHFL Pramerica Flexi Cash Plan covers

By availing this plan, the life insured will be entitled to receive death benefits and maturity benefits. In addition, DHFL Pramerica also declares bonuses from time to time that are guaranteed to enhance the value of the plan. Given below are the details of the benefits offered with this plan:

Death Benefit	Upon the unfortunate demise of the life insured, the nominee will be entitled to receive the sum of the following: Death sum assured Accrued Reversionary Bonus Final Bonus, if any
	For entry age less than 45 years, the death sum assured is the higher of the following: 10 times the annualised premium 100% of the base sum assured 105% of the premiums paid up to death
	For entry age of 45 years and above, the death sum assured is the higher of the following: 7 times the annualised premium 100% of the base sum assured 105% of the premiums paid up to death
Maturity Benefit	At the end of the policy term, the life insured will receive 100% of the base sum assured as the Maturity Benefit. Any accrued reversionary bonuses and final bonuses will also be paid
Flexi Benefit	You have the option to prepone your maturity benefit to meet expenses of different stages of life. You can get the entire maturity benefit provided the policy is in force. The flexi benefit period is applicable as given below: 15-year term - during the 10th and 15th year 25-year term - during the 15th and 25th year 35-year term - during the 20th and 35th year
Guaranteed Loyalty Benefit	The guaranteed loyalty benefit is applicable during the premium payment term. The benefit is payable on an annual basis at the start of every eligible policy year starting from the 2nd year. The benefit paid is 10% of the annualised premium
Compounded reversionary bonus	A regular bonus once declared will be attached to the policy immediately. It is then guaranteed and will be payable with the death or survival benefit. The bonus is expressed as a percentage of the total of the basic sum assured + any reversionary bonus already attached
Final bonus	Upon the termination of the policy due to maturity, death or surrender, the company many pay a terminal bonus depending on the performance of the participating funds

*Ages mention are the ages as on the last birthday

Riders / Add-on Plan – Additional coverage under the DHFL Pramerica Flexi Cash Plan

Riders are additional insurance policies that can be attached to a base plan. Riders help enhance the protection level of the life insured at affordable premiums. There are no riders available with this plan.

Exclusions – What the DHFL Pramerica Flexi Cash Plan does not cover

Inception - From the commencement date of the policy, if the life insured commits suicide within 12 months, whether sane or insane, the company will reimburse 80% of the premiums paid minus any survival benefit already paid, service tax and underwriting extra).

Revival - From the reinstatement date of the policy, if the life insured commits suicide within 12 months, whether sane or insane, the company will pay the surrender value.

There are no other exclusions mentioned in this plan.

Other Key Features

Knowing the features of your life insurance plan is important so that you have a clear understanding of what the insurer is offering you. Given below are some of the important features of the Flexi Cash Plan:

Features	Details
Grace period	30 days is granted for all premium payment modes.
Free-look period	15 days (30 days in case of distance marketing). The policyholder can choose to cancel the policy within this period if they are not satisfied with the terms of the plan. The original policy document must be returned along with a letter stating the reasons for objection. The premium paid will be refunded minus any proportionate risk premium + stamp duty + medical expenses, if any.
Discontinuance	If you discontinue premiums before the first two years, the policy will lapse. No benefits are payable. If you discontinue the policy after two years, then the policy will be converted to a paid-up policy. The policy will not be eligible for guaranteed loyalty benefits, but any bonuses already attached will remain.
Surrender value	After paying premiums for 3 years, you will be eligible to surrender the policy if you are unable to pay future premiums. The surrender value is equal to the higher of the following: Guaranteed surrender value = X% of the total premiums paid - any guaranteed loyalty additions already paid + guaranteed surrender value of accrued bonuses Special surrender value The value of X depends on the year in which the policy is surrendered and the policy term. X can vary between 30% and 75%.
Paid-up value	Paid-up sum assured + accrued guaranteed additions + accrued reversionary bonuses + final bonus, if any. The paid-up sum assured = number of premiums paid/number of premiums payable x basic sum assured. Upon death or maturity, the paid-up value will be payable to the nominee.
Revival	You can revive the policy within 2 years from the due date of the first unpaid premium. All unpaid premiums must be paid + interest. Once revived, all benefits will be restored.
Loan facility	Once the policy acquires a surrender value, you can take a loan for up to 80% of the surrender value. The rate of interest will be applicable as declared by the company from time to time.
Assignment	As per Section 38 of the Insurance Act, 1938.
Nomination	As per Section 39 of the Insurance Act, 1938.

Tax Benefits – How you can save under the DHFL Pramerica Flexi Cash Plan

Tax benefits are available under the Income Tax Act, 1961.

• Benefits received are eligible for tax deductions under Section 10(10D).
• Premiums paid are eligible for tax deductions under Section 80C.

Tax laws are subject to amendments from time to time. You are advised to consult a tax advisor to know about the prevailing laws.

Why you should buy the DHFL Pramerica Flexi Cash Plan from DHFL Pramerica?

With the Flexi Cash Plan, you have the power to define your future. Secure your financial status through life cover, maturity benefits and bonuses. Plan in advance to meet your future financial goals by investing wisely now.

DHFL Pramerica entered the Indian market in 2013 through a joint venture between Prudential International Insurance Holdings Limited (subsidiary of PFI) and Dewan Housing Finance Corporation Limited. The insurance company has a pan India presence and operates through multiple distribution channels. The insurer provides protection and quality financial advice through a number of innovative and flexible products in its portfolio.