Benefits

 

Annual Guaranteed Additions (AGA)

Annual Guaranteed Additions will be applied as a percent of cumulative Annualized Premium* paid and is defined in terms of the Monthly Income bands. In case of death, Annual Guaranteed Additions will continue to accrue till the scheduled maturity provided the policy is in-force for full risk benefits at the date of death.

 

Monthly Income @ Inception Policy Term

From

To

10 Years

15 Years

2,000

3,500

5.00%

6.00%

3,501

6,000

5.25%

6.25%

6,001

12,000

5.50%

6.50%

12,0001

And above

5.75%

6.75%

 

*Annualized Premium shall be the Premium payable by the Policyholder in a year, excluding the underwriting extra Premium and loadings for modal Premium, if any.

 

Maturity Benefit

On maturity, provided the policy is in force for full policy benefits, the Company will pay the Policyholder an amount equal to the Base Sum Assured + Accrued Annual Guaranteed Additions.

 

Base Sum Assured = Monthly Income at inception x Premium Payment Term x 12

 

Death Benefit

At inception, the prospective Policyholder chooses the Monthly Income & Premium Payment Term. The Monthly Income chosen at inception increases by 5% pa (simple) starting 2nd Policy Year and during payment. In case of death of Life Insured during the Policy Term, policy will terminate and applicable Monthly Income will be payable to the Nominee(s)/ Legal Heir(s) for rest of the policy term subject to a minimum payment for 48 Months. Additionally, Base Sum Assured together with accrued Annual Guaranteed Additions would be payable at the scheduled Maturity Date.

 

The total benefits payable on death will be equal to

 

Death Sum Assured + Accrued Annual Guaranteed Additions$

 

Where Death Sum Assured is highest of:

 

  • 10 times of Annualized Premium* (or)
  • 105% of all the Premiums paid (excluding underwriting extra, if any) as on date of death(or)
  • Guaranteed Sum Assured on Maturity which is equal to Base Sum Assured (or)
  • The absolute amount assured to be payable on death which would be sum of the following two components:
    • Recurring monthly income for rest of the policy term subject to a minimum payments for 48 months
    • Base Sum Assured payable on scheduled Maturity Date

$Payable on the scheduled maturity date

*Annualized Premium shall be the Premium payable by the Policyholder in a year, excluding the underwriting extra Premium and loadings for modal Premium, if any.

 

Riders

You can enhance your protection by opting for any of the following available Riders. The Rider Benefit can be availed during the Premium Payment Term only and would expire once Premium Payment Term is over:

  • DHFL Pramerica Traditional Accidental Death Benefit Rider (UIN: 140B001V02)
  • DHFL Pramerica Traditional Critical Illness Rider (UIN: 140B002V02)

 

Tax Benefits

Tax benefits will be applicable as per prevailing tax laws. Tax laws are subject to change. Please consult your tax advisor for details.

 

Loan Availability

The policyholder can avail a loan against the policy after it acquires Surrender Value, upto 75% of the Surrender Value. The rate of interest applicable on the loan will be declared by the Company on an annual basis at the beginning of every financial year.