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.
To be eligible for the DHFL Pramerica TruShield Plan, customers need to meet certain criteria.
|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: 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.
|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)|
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:
|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.|
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.
The key features of the DHFL Pramerica TruShield Plan are listed below:
|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.|
In accordance with the Income Tax Act 1961, policyholders of the DHFL Pramerica TruShield Plan can avail tax benefits under:
Some of the benefits of the DHFL Pramerica TruShield Plan are listed below:
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.