DHFL Pramerica TruShield Plan

Keeping in mind the dependence of a family on the breadwinner, DHFL Pramerica has rolled out the DHFL Pramerica TruShield Plan. The DHFL Pramerica TruShield Plan offers financial protection to the family or loved ones of the policyholder in case of untimely death of the policyholder. The DHFL Pramerica TruShield Plan comes with comprehensive protection for the family of the policyholder as well as maturity benefits and much more.

Eligibility -Who is the DHFL Pramerica TruShield Plan for?

To be eligible for the DHFL Pramerica TruShield Plan, customers need to meet certain criteria.

Parameters	Details
Entry Age	Minimum: 18 years Maximum: 55 years (For 10 year policy term) 50 years (For 15 year policy term) 45 years (For 20 year policy term)
Maturity Age	65 years
Policy Term	10 years, 15 years, 20 years

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

Sum Assured: The minimum sum assured for the DHFL Pramerica TruShield Plan is Rs.5 lakh and the maximum sum assured is Rs.50 crore (subject to underwritings).

Premium: The premium for the DHFL Pramerica TruShield Plan varied if a policyholder chooses either a Single Pay or a Limited Pay for the Level Benefit or the Reducing Benefit.

Parameters	Details
Policy Term	10 years, 15 years, 20 years
Premium Payment mode	Single, annual or monthly
Minimum Premium	For Level Benefit: Rs. 6,395 for Limited Pay Rs. 29,125 for Single Pay For Reducing Benefit: Rs. 5,950 For Limited Pay Rs. 26,280 For Single Pay
Sum Assured	Minimum: Rs.5 lakh Maximum: Rs.50 Crore (subject to underwriting)

Plan coverage - What the DHFL Pramerica TruShield Plan covers

The DHFL Pramerica TruShield Plan comes with the benefit of an additional shield cover, death and maturity benefit options. The details are mentioned below.

Death Benefit	In case of untimely death of the policyholder, the nominee is entitled to the death sum assured at that point. The death sum assured varies if the policyholder has opted for either a Single Pay or a Limited Pay. For the Limited Pay, the nominee is entitled to: 10 times the annualised premiums Or Maturity Sum Assured Or 105% of premiums paid till date Or absolute sum assured on death - which varies if the policyholder has opted for a level cover or a reducing cover. For the Single Pay, the nominee is entitled to: 125% of the single premiums paid till date if the policyholder is less than 45 years old or 110% of the single premiums paid if the policyholder is more than 45 years old. Or Maturity Sum Assured Or absolute sum assured on death - which varies if the policyholder has opted for a level cover or a reducing cover.
Additional Shield Cover	To offer the dependents of the policyholder enhanced financial protection in the case of an eventuality, the DHFL Pramerica TruShield Plan comes with the Additional Shield Cover. In case of untimely death of the policyholder, the nominee is entitled to the death benefit as well as the addition death sum assured at the end of the policy term.
Maturity Benefit	On survival till the end of the policy term, the policyholder is entitled to the return of all premiums paid as a maturity benefit.

Exclusions - What the DHFL Pramerica TruShield Plan doesn’t cover

If the policyholder commits suicide within 12 months from the commencement of the policy, the nominee is entitled to a higher of 80% of the premiums paid till date or the surrender value (if any). No other benefits are applicable in the case of suicide, whether sane or insane.

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

The key features of the DHFL Pramerica TruShield Plan are listed below:

Parameters	Details
Level Term Cover	If the policyholder chooses the Level Term Cover, the Death Sum Assured remains constant throughout the policy term.
Reducing Cover	If the policyholder chooses the Reducing Cover, the Death Sum Assured reduces over the policy term.
Surrender	Policyholders are entitled to the surrender value if they have paid premiums for three consecutive years for a 10 years Premium Paying Term.
Lapse	If policyholders fail to pay the premiums within the first two consecutive years from the commencement of the policy, the policy will lapse.
Reduced paid-up policy	If policyholders have paid the premiums for two consecutive years from the commencement of the policy and have failed to pay their premiums, the policy will automatically be shifted to a reduced paid-up policy.
Revival	Policyholders can revive the policy within two years of the first unpaid premium. Once the policy is revived by paying all the due premiums, all benefits will be applicable.
Grace period	Policyholders are granted a grace period of 30 days to pay their premiums. All benefits are applicable during the grace period.
Free-look period	Policyholders are granted a free-look period of 15 days from the commencement of the policy. If the policyholder disagrees with the terms and conditions of the policy, he/she can return the policy and receive a refund for the premium paid.
Nominations	Policyholders can make nominations as per Section 39 of Insurance Act, 1938.
Assignment	Policyholders can assign the policy as per Section 38 of Insurance Act, 1938.

Tax Benefits – How you can save with the DHFL Pramerica TruShield Plan

 

In accordance with the Income Tax Act 1961, policyholders of the DHFL Pramerica TruShield Plan can avail tax benefits under:

• Section 80C of the Income Tax Act, 1961, for the premium contributions made towards the scheme.
• Section 10 (10D) of the Income Tax Act, 1961, for proceeds from maturity and death benefits.

Other benefits – How you can save with the DHFL Pramerica TruShield Plan

Some of the benefits of the DHFL Pramerica TruShield Plan are listed below:

• Depending on the loan they have availed, policyholder can decide the coverage, calculate their premium amount, and make a single premium contribution towards the plan.
• On the DHFL Pramerica website, customers can avail insurance products of their choice, make claims, take advice, and check the performance of their investments.
• Customers can also pay online using their credit cards, debit cards, e-wallets, etc. They also make premium calculations.
• Before availing an insurance product, customers can see if the product actually suits their needs and can make an estimation before buying the product.

Why you should buy the DHFL Pramerica TruShield Plan from DHFL Pramerica?

Highlighting the uncertainty of life, the DHFL Pramerica TruShield Plan offers enhanced protection for the loved ones and dependents of the policyholder. Policyholders can be at peace knowing that their loved ones will be financially secure even after their time has passed. DHFL Pramerica Insurance Company provides protection and quality financial advice with a number of innovative and flexible products in its portfolio. This top insurance provider over the years has garnered several awards such as Most Popular and Best Website of the Year 2016 in the Insurance Category. Evaluation, Skoch Financial Inclusion Award 2011, and Best Insurer 2011.