"Spending a whole day looking for insurance is fun," said nobody, EVER!
Loading your search...
Close

Tell us about yourself & we'll find the best Term/Cancer Life Insurance offers for you.

  • DHFL Pramerica Family Income 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

    The DHFL Pramerica Family Income Plan is a non-participating decreasing term plan. Unlike other plans where you are eligible to get a lump sum amount, this plan gives you monthly income based on a monthly financial amount chosen by you and the premiums paid. Your family will continue to receive the monthly income irrespective of whether you are around or not. Not only does this plan provide a protective cover but also makes you eligible for various benefits including tax benefit.

    Eligibility - Who is the DHFL Pramerica Family Income Plan for?

    The eligibility criteria required in order to avail this plan are given in the table below:

    Parameters Criteria for eligibility
    Minimum age at entry 18 years
    Maximum age at entry 55 years
    Maximum Benefit Expiry Age 65 years
    Minimum Monthly Family Income Rs.2,000
    Maximum Monthly Family Income No Limit

    *Ages mentioned above are as on the policyholder’s last birthday.

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

    Sum Assured

    Sum Assured is the minimum amount the insured will get from the insurer. The sum assured won't contain any benefits or bonuses the policyholder might be entitled to. The relevant information on sum assured for this plan is given in the table below:

    Sum Assured The sum assured will be based on the premiums paid.

    Premiums*

    Premiums to be paid will be decided at the beginning of the policy and will depend on the policy term, sum assured and the premium payment mode. All the relevant information on premiums for this plan is given in the table below:

    Minimum Policy Term 5 years
    Maximum Policy Term 30 years
    Premium Payment Mode Annual, Semi-Annual, Quarterly or Monthly
    Premium
    • Rs.1,000 p.a for Annual, Semi-Annual and Quarterly mode of premium payment.
    • Rs.1,200 p.a for monthly mode of payment.
    Premium Payment Options Regular Pay

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

    Plan Coverage - What the DHFL Pramerica Family Income Plan cover?

    There are certain benefits under this plan which the policyholder can enjoy. The information on benefits provided under this plan is given in the table below:

    Death Benefit Incase of the insured’s untimely death, the death benefit will be payable as:
    • In case of the insured’s death, the nominee will receive the monthly income as death benefit till the policy term is completed.
    • A discounted value of future monthly income will be paid to the nominee as a lump sum benefit.
    • If the insured had opted for DHFL Pramerica Traditional Accidental Death Benefit Rider, the nominee will be entitled to receive benefits arising out of the rider.
    • If the insured had opted for DHFL Pramerica Traditional Critical Illness Rider, the nominee will be entitled to receive benefits arising out of the rider.
    Maturity Benefit NA

    Riders/Add-On Plans - Additional coverage under the DHFL Pramerica Family Income Plan

    There are two riders under this plan. They are:

    • DHFL Pramerica Traditional Accidental Death Benefit Rider
    • DHFL Pramerica Traditional Critical Illness Rider

    Exclusions – What the DHFL Pramerica Family Income Plan does not cover

    If the insured commits suicide within one year of the purchase or the revival of the plan, the nominee will be entitled to receive 80% of the total premiums paid.

    Other Key Features

    Some of the key features which comes along with this plan:

    Grace Period A grace period of 30 days is given if the mode of premium payment is Annual, Semi-Annual or Quarterly. 15 days if the mode of premium payment is monthly.
    Free-Look Period A free-look period of 15 days is given.
    Revival The policy, if lapsed can be revived within three years from the date of first unpaid premium.
    Nomination Nomination is allowed under Section 39 of Insurance Act, 1938.
    Assignment Assignment is allowed under Section 38 of Insurance Act,1938.

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

     

    There are various tax benefits which the policyholder can enjoy under Section 80C and Section 10 (10D) of the Income Tax Act,1961. Since, the income tax laws are subject to change, it is important that one consults a tax advisor before making any tax related decisions.

    Other Benefits

    • Customer Service: DHFL Pramerica boasts of an extensive customer care service support. One can call the customer executive on their toll-free number or mail them on their official email id incase of any assistance required.
    • Online Premium Payment: You can pay your premium or file your claims online.

    Why you should buy the DHFL Pramerica Family Income Plan?

    The DHFL Pramerica Family Income Plan is a non-participating decreasing term plan where the nominee gets a sum of money on a monthly basis compared to other plans where one receives a lump sum amount. This plan aims to provide cover to those who would like to secure their family’s future irrespective of whether the policyholder is around or not. An individual who has availed this plan can also opt for a couple of riders which add an extra layer of protection. Apart from that, there are various benefits including the tax benefit which the insured can enjoy.

    DHFL Pramerica is a joint venture between DHFL Investments Limited and Prudential International Insurance Holdings, Ltd. They are considered to be one of the best insurers known to take care of their customers as they enjoy a 99.65% success rate in addressing their consumers’ grievances. The company has won various awards which only goes on to show why they are one of the most preferred insurers amongst the people.