• DHFL Pramerica Smart Money Back 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 Money Back Plan

    The Smart Money Back Plan from DHFL Pramerica Life Insurance is a unique protection cum savings instrument that will help you meet key milestones in your life. This policy provides guaranteed money backs to the policyholder at regular pre-defined intervals. Further, the policyholder will also receive a lump sum amount of money at the end of the policy tenure, which can help them meet long-term goals. The minimum annual premium payable for this policy is Rs.15,000. The policyholder can also avail tax benefits as per the prevailing tax laws.

    Eligibility - Who is the DHFL Pramerica Smart Money Back Plan for?

    In order to purchase this policy, you will need to meet the age limits set by the insurer.

    Parameters Criteria for eligibility
    Minimum age at entry 8 years
    Maximum age at entry
    • 16-Year Policy Term: 49 years
    • 20-Year Policy Term: 45 years
    Maximum age at maturity 65 years

    Sum Assured and Premium Range - What you get and what it costs?

    Sum Assured

    The sum assured is a certain sum of money that the policyholder/nominee will receive from the insurer before any bonuses are added to this amount.

    Minimum Sum Assured Rs.1,20,000
    Maximum Sum Assured No limit


    The premium is a certain sum of money that the policyholder pays to the insurance company to enjoy the coverage offered by the insurance plan.

    Minimum term of the policy 16 years
    Maximum term of the policy 20 years
    Premium Payment Term
    • 16-Year Policy Tenure: 5 years or 7 years
    • 20-Year Policy Tenure: 7 years or 10 years
    Premium Payment Mode Yearly, bi-annual, or monthly
    Minimum Premium Amount Rs.15,000
    Maximum Premium Amount No limit

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

    Plan Coverage - What the DHFL Pramerica Smart Money Back Plan covers?

    Death Benefit If the policyholder passes away during the policy tenure, the insurer will pay the full death sum assured with Accrued Reversionary Bonuses, the Interim Bonus, and the Final Bonus. The death benefit payable will be the highest of the following amounts:
    • 11 x Annualised Premium
    • Base Sum Assured
    • 105% x Premiums Paid
    Survival Benefits
    • For a 16-year plan, survival benefits will be paid at the end of the 4th year and every four years thereafter.
    • For a 20-year plan, survival benefits will be paid at the end of the 5th policy year and every five years thereafter.
    Maturity Benefit If the policyholder survives till the maturity date, he/she will receive the final bonus and the accrued reversionary bonus from the insurer.

    Exclusions - What the DHFL Pramerica Smart Money Back Plan doesn’t cover?

    If the policyholder commits suicide within a period of 12 months from purchasing the policy or reviving the policy, the insurer will only be held liable to pay the nominee an amount which is equal to or higher of 80% of the overall premiums paid by the policyholder or the surrender value of the policy, if any. No other death benefit or bonus will be paid to the nominee.

    Other Key Features – Free-Look Period, Surrender Value, Grace Period, etc.

    Grace Period The insurer offers a 30-day grace period for all modes of premium payment.
    Free-Look Period The free-look period for regular insurance policies is 15 days, and the free-look period for a policy purchased through distance marketing channels is 30 days.
    Policy Revival Lapsed policies can be revived within 2 years of the date of the first unpaid premium.
    Surrender Value This policy can be surrendered if it has been in force for at least 2 policy years. Upon surrendering the policy, the insurer will pay the higher of the Guaranteed Surrender Value or the Special Surrender Value.
    Loan against Policy Policyholders can take a loan against those policies that have acquired a surrender value. Up to 80% of the surrender value can be taken as the loan amount.
    Bonuses The policyholder may be eligible to receive the following bonuses along with the death/maturity benefit:
    • Compound reversionary bonus
    • Interim bonus
    • Final Bonus


    Tax Benefits – How you can save with the DHFL Pramerica Smart Money Back Plan?

    Life insurance plans also provide tax benefits to policyholders and their nominees. You can claim tax rebates under Section 80C of the Income Tax Act for the premiums that you pay. Similarly, any amount you receive as payouts are also exempt from tax, up to the pre-defined limit, as per Section 10(10D) of the Income Tax Act, 1961.

    Other Benefits – How you can save with the DHFL Pramerica Smart Money Back Plan?

    • Customer Care Channels: If you have any queries or require assistance, you can contact the insurer through their toll-free number or send them an email. You can also request a call-back. Further, you can write to the insurer through their official website.
    • Online Premium Payments: Customers can pay their due premiums, regardless of whether it is their first premium or their renewal premium, through the official DHFL Pramerica website.
    • Branch Locator: If you wish to speak to an insurance agent or representative or visit a branch office, you can use the ‘Branch Locator’ feature on the insurer’s website, and locate the nearest branch.
    • Online Plans: DHFL Pramerica offers certain plans online, through their official website.

    Why should you buy the Smart Money Back Plan from DHFL Pramerica Life Insurance?

    The Smart Money Back Plan from DHFL Pramerica Life Insurance is a participating, money back, endowment insurance plan. This policy is an ideal choice since it offers a comprehensive life cover and also serves as a savings tool.

    DHFL Pramerica Life Insurance is a joint venture between DHFL Investment Limited and Prudential International Insurance Holdings. The company was established in the year 2008. Currently, DHFL Pramerica has 117 branches across the country with 4,629 employees. The insurer has secured more than 20 million lives since their inception. Further, the insurer has also been the recipient of several awards. For FY16-17, the insurer has a claim settlement ratio of 90.87 and a grievances solved ratio of 99.93%.

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