DHFL Pramerica Rakshak Gold Plan

DHFL Pramerica Rakshak Gold Plan is a non-participating guaranteed endowment insurance policy that that offers comprehensive cover and protects the future of the life insured's child. There are many of us whose main priority in life is to secure your child’s future is a major goal in our lives. Education is an important part of a child’s life and making sure that they get the best education possible is every parent’s dream and goal. The DHFL Pramerica Rakshak Gold Plan helps in making you realize this dream. A large sum of money will be payable to the family of the life insured at the time of maturity of the plan or if the policyholder meets with an untimely demise.

Eligibility – Who is the DHFL Pramerica Rakshak Gold Plan for?

An individual will have to meet the eligibility criteria listed below to avail the DHFL Pramerica Rakshak Gold Plan:

Parameters	Details
Minimum Age of Entry for 12 Year Term	18
Maximum Age of Entry for 12 Year Term	53
Minimum Age of Entry for 18 Year Term	18
Maximum Age of Entry for 18 Year Term	47
Maturity Age	65 years

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

Sum Assured

The sum assured is based completely on the premiums that you will be required to pay to avail the benefits of the policy. The sum assured for DHFL Pramerica Rakshak Gold Plan is listed below:

Parameters	Details
Minimum Base Sum Assured	Rs.75,000
Maximum Base Sum Assured	Rs.5 crore subject to an underwriting

Premiums*

Premiums are paid to the insurer to purchase a policy from them so that the individual can come under the umbrella of benefits and coverage that this plan has to offer. The premiums that a policyholder will have to pay towards a DHFL Pramerica Rakshak Gold Plan are listed below:

Parameters		Details
Term of the Policy		12 years 18 years
Premium Payment Term	Term of Policy		Premium Payment Term
	12 years		7 years
	18 years		10 years
Premium Paying Mode		Monthly Half-Yearly Yearly

*Premiums paid vary based on age, location, plan term and other factors

Premiums for a DHFL Pramerica Rakshak Gold Plan can be made using any of the following ways:

• Payment in cash at the insurer’s branch office
• Using payment gateways or internet banking
• Through the use of debit or credit cards
• With a cheque or demand draft
• ECS/Direct Debit/Salary Deduction Scheme

Modal Factors and Premium Modes:

Premium Modes	Modal Factors
Monthly	0.09
Semi-Annually	0.52
Annually	1

Plan coverage – What the DHFL Pramerica Rakshak Gold Plan covers

The DHFL Pramerica Rakshak Gold Plan offers a number of different benefits and these are listed in the table below:

Parameters	Details
Death Benefit	A death benefit along with Accrued Annual Guaranteed Addition is payable to the plan’s beneficiary or nominee at the time of death of the policyholder. 2% of the total base sum that is assured is also payable for a minimum period of 36 months from the date of death of the policyholder. A final death benefit is payable at the time of the scheduled maturity of the plan.
Maturity Benefits	If the life insured survives until the end of the policy tenure, he/she will be eligible for a maturity benefit which is equal to the Base Sum Assured after multiplying it with the Guaranteed Maturity Multiple or GMM.
Tax Benefits	As per prevailing tax laws of the Income Tax Department.

Riders/Add-Ons

There are no additional riders that are available for purchase along with the DHFL Pramerica Rakshak Gold Plan.

Exclusions – What the DHFL Pramerica Rakshak Gold Plan covers

If the policyholder commits suicide within a year from the date commencement of the policy or from the date of revival, the policy will become void and the higher value between the acquired Surrender Value and 80% of the premiums that were paid until the time of death of the policyholder.

Other Key Features

Parameters	Details
Free Look Period	In case the policyholder is not satisfied with the “Terms and Conditions” of the policy, a 15 day (30 days in the case of distance marketing) period is provided where the insured can return the policy back to the insurer. The company will return the Fund Value after deducting any expenses incurred by the insurer such as stamp duty charges, medical expenses, etc.
Grace Period	A 30-day grace period is provided for all modes of premium payments.
Annual Guaranteed Addition (AGA)	This will be accrued at the end of each policy year. The Annual Guaranteed Addition will, however, increase after 3 consecutive policy years.
Nomination	Nomination is allowed as per the existing tax laws under Section 39 of the Insurance Act, 1938.
Assignment	Assignment is allowed as per the prevailing tax laws under Section 38 of the Insurance Act, 1938.
Loan	Loan facility is provided with a DHFL Pramerica Rakshak Gold Plan.
Premium Payment Term	A policyholder can enjoy the benefits of paying premiums for a limited period only.
Surrender	A policy can be surrendered by a policyholder at anytime after making premium payments for two years for a premium payment term of 7 years and 3 consecutive policy years for a premium payment term of 10 years. Surrender Value that is payable shall be the higher value between the Guaranteed Surrender Value (GSV) and Special Surrender Value (SSV).
Revival/Reinstatement	This facility is available for plans where premiums have not been paid for a period up to 2 years.

 

Tax Benefits – How you can save with DHFL Pramerica Rakshak Gold Plan

A policyholder can enjoy tax benefits on any premium that is paid towards DHFL Pramerica Rakshak Gold Plan under the prevailing tax laws under Section 80C and for withdrawals or maturity amount under 10(10D) of the Income Tax Act, 1961. Tax benefits are subject to changes without prior notice so it is important that the policyholder consults a Tax Advisor to stay informed about any changes made.

Why you should buy the Rakshak Gold Plan that is offered by DHFL Pramerica?

DHFL Pramerica Life Insurance Company Limited is a joint venture between Prudential International Insurance Holdings Ltd. and Dewan Housing Finance Corporation Ltd. The company is one of the fastest growing insurance companies in the country offering financial protection for your child’s future, retirement, and wealth accumulation. With over 103 branches spread across India, the company is easily accessible to its large customer base which is made up of over 13 million satisfied customers. The company has Claim Settlement Ratio of 84% and also has experience managing over Rs.2,893.05 crore Assets Under Management.