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  • DHFL Pramerica Smart Cash Protect Plan

    Life Insurance
    • 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 Smart Cash Protect Plan is a participating endowment insurance plan. With this plan, you will receive income on a regular basis. You will get great cash benefits apart from the lump sum payments. When you take this insurance plan, you can organise your daily expenditures as well as future expenditures.

    Eligibility – Who is the DHFL Pramerica Smart Cash Protect Plan for?

    The DHFL Pramerica Smart Cash Protect Plan is a great plan for anyone who wants reliable protection along with a steady source of income. Let us take a look at the eligibility criteria for this plan:

    Minimum entry age 12-year premium payment term 23 years as on your last birthday 15-year premium payment term 20 years as on your last birthday 20-year premium payment term 18 years as on your last birthday
    Maximum entry age 12-year premium payment term 55 years as on your last birthday 15-year premium payment term 55 years as on your last birthday 20-year premium payment term 50 years as on your last birthday
    Maximum maturity age 12-year premium payment term 85 years as on your last birthday 15-year premium payment term 90 years as on your last birthday 20-year premium payment term 90 years as on your last birthday

    Under this plan, even substandard lives may be covered according to the organisation’s underwriting manual and any additional premiums, if applicable.

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

    The DHFL Pramerica Smart Cash Protect Plan will provide you with life cover, guaranteed income, and bonus income. This plan will help you save funds extensively for your retirement period in the future. You can also ensure that your beloved family members will be financially secure if something unfortunate happens to you. This plan gives a superb sum assured amount. Let us take a look at the details regarding the sum assured and premium range for this plan:

    Minimum sum assured Rs.1,25,000
    Minimum sum assured There is no limit. It depends on underwriting.
    Minimum premium Rs.12,000
    Minimum premium There is no limit. It depends on underwriting.
    Minimum policy period 12-year premium payment term Entry age: 70 30 years 15-year premium payment term Entry age: 75 35 years 20-year premium payment term Entry age: 85 40 years
    Maximum policy period 12-year premium payment term Entry age: 70 30 years 15-year premium payment term Entry age: 75 35 years 20-year premium payment term Entry age: 85 40 years
    Premium paying term 12 years, 15 years, and 20 years

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

    Plan coverage – What the DHFL Pramerica Smart Cash Protect Plan covers

    The DHFL Pramerica Smart Cash Protect Plan offers excellent benefits to the life insured as well as his or her dependents. With this plan, you can be prepared for life’s uncertainties. Let us take a look at what this plan covers:

    Type of benefit Features of the benefit
    Death benefit When the policyholder dies during the 1st 15 policy years, death benefits will be offered. The benefits include death sum assured, final bonus, and accumulated reversionary bonus. Once these benefits are paid, the policy will get cancelled. If the policyholder dies once the 15th policy year is complete, he or she will receive the death sum assured and final bonus (if any). The death sum assured will be 50% of the sum assured or 11 times the annualised premium.
    Survival benefit This will be given when the 15th policy year is complete. The policyholder will get a reversionary bonus that has been accumulated during the 1st 15 years.
    Bonus income Once the 16th policy year is completed, this bonus income will be given for each policy anniversary till the policy matures or till the policyholder dies, whichever is earlier. Whenever the bonus is declared, the policyholder will receive it every year.
    Guaranteed income This benefit will also be paid for each anniversary year after the completion of the policy year. The policyholder will get annual payouts which will be equivalent to 6% of the sum assured.
    Maturity benefit When the policy matures, the maturity benefit will be provided. This benefit will be equal to 50% of the sum assured along with the final bonus (if any)

    Bonuses that are provided by DHFL Pramerica Smart Cash Protect Plan

    Let us take a look at the bonuses that are offered along with this plan:

    Compound reversionary bonus It is a normal bonus which is equal to a certain percentage of the full sum assured along with the reversionary bonus amount. This will depend on the bonus declared by the company.
    Bonus income This is a normal bonus which is a percentage of the sum assured that has to be paid every year. The bonus will be determined by the amount declared by the company.
    Final bonus A bonus will be paid by the company when the policy is cancelled after the policyholder dies or after the policy matures or is surrendered.

    Exclusions – What the DHFL Pramerica Smart Cash Protect Plan doesn’t cover

    There are no proper exclusions under this plan. If the policyholder commits suicide in 12 months after the policy commences, then the nominee will get 80% of the premiums that have been paid. If the policyholder commits suicide in 12 months after the policy is revived, then the nominee will get the surrender value or the 80% of the premiums that have been paid till now, whichever is higher.

    Other Key Features – Free-look Period, Surrender Values, Grace Period, etc.

    These are the other salient features of the DHFL Pramerica Smart Cash Protect Plan:

    Nomination You can choose a nominee as per Section 39 of Insurance Act, 1938.
    Grace period You will get a grace period of 30 days. You can pay the premiums that you have missed paying by the due date.
    Free look period You can check your policy terms and conditions during the free look period. After assessing them, you can decide if you want to go ahead with the policy or not. You can enjoy a free look period of 30 days.
    Policy revival You can revive your policy within 2 years since when you have not paid your first premium.
    Assignment Under this plan, you can make an assignment as per Section 38 of Insurance Act, 1938.

     

    Tax Benefits – How you can save with the DHFL Pramerica Smart Cash Protect Plan

    When you pay your premiums and obtain your benefits, you can enjoy awesome tax benefits as per the Income Tax Act, 1961 under Section 80CC.

    Other benefits – How you can save with the DHFL Pramerica Smart Cash Protect Plan

    These are the benefits of this plan:

    • You can purchase this plan online.
    • You can fill a form and ask an insurance agent to be sent to your home.
    • You can view the NAV of your plan on the official website.
    • You can track your insurance plan application online.

    Why should you buy the Smart Cash Protect Plan from DHFL Pramerica Life Insurance?

    DHFL Pramerica Life Insurance is a leading insurance company that is dedicated to offering great savings and protection to several people. The company’s vision is to make certain that all policyholders are financially safe by providing them with economically priced insurance plans. The team at DHFL Pramerica Life Insurance is very diligent and customer friendly. When you take the Smart Cash Protect Plan from DHFL Pramerica Life Insurance, you can be assured that you will get the necessary coverage and also build good savings for your life post retirement.