DHFL Pramerica Aajeevan Samriddhi
Product Info
UIN
140N033V01
Status
Active
Launch Date
05/06/2013
Withdrawn Date
Product Overview
DHFL Pramerica Aajeevan Samriddhi is a whole life insurance plan that guarantees you a life time financial protection for your family. This provides you a corpus at the age of 65 years so that you can take care of your post retirement expenses. So plan today and assure yourself of a secure future.
Product Description
- The plan offers insurance coverage till you attain the age of 99 years, irrespective of your age at the time of policy inception.
- The plan offers Guaranteed Additions which accrues for initial 5 years of your policy.
- The basic death benefit at the end of premium payment term will continue till the end of the policy term.
- The plan allows Flexibility to borrow loan against the policy.
COMPARE & BUY SIMILAR PLANS
Unique Features
- The Policyholder will be eligible for a Guaranteed Additions of 40 per 1000 of SA for the initial 5yrs of the policy (for each completed policy yr), and will accrue at the end of the Policy Yr. These additions will be paid either on death or on attaining age 65, whichever is earlier.
Eligibility Criteria
| Eligibility Criteria | ||||||
|---|---|---|---|---|---|---|
| Age at Entry | Minimum: | 8 years | ||||
| Maximum: | PPT 15 Years: 50 years | |||||
| PPT 20 Years: 45 years | ||||||
| Maturity Age | 99 years | |||||
| Policy Term | (99 - Entry Age) in complete years | |||||
| Premium Paying Term | 15 and 20 years | |||||
| Premium Paying Mode | Yearly, Half-Yearly and Monthly | |||||
| Minimum Premium | Rs 5,500 (Yearly) | |||||
| Maximum Premium | Depends on the chosen basic sum assured, age at entry and premium payment term | |||||
| Minimum Basic Sum Assured | Rs 75,000 | |||||
| Maximum Basic Sum Assured | No limit subject to underwriting | |||||
| Factor Mode | Mode | Modal Factors | ||||
| Annual | 1 | |||||
| Semi-Annual | 0.52 | |||||
| Monthly* | 0.09 | |||||
| Notes:- *Monthly mode of Premium payment is available only through credit card, direct debit and ECS | ||||||
OneInsure App Benefits
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Product Benefit
| Benefit | Description | |||||
|---|---|---|---|---|---|---|
| Maturity Benefit | On attaining age 99 years as on last birthday i.e. at end of policy term | |||||
| Basic Sum Assured | ||||||
| Final Bonus, if any | ||||||
| Survival Benefit | On attaining age 65 years as on last birthday | |||||
| Accrued Reversionary Bonuses | ||||||
| Accrued Guaranteed Additions | ||||||
| The sum of accrued Reversionary Bonuses and Guaranteed Additions would be paid as survival benefit on attaining the age of 65. | ||||||
| Death Benefit | Within initial 5 policy years |
After 5 policy years till attaining age 65 as on last birthday | After attaining age 65 till 99 as on last birthday |
|||
| Basic Death Benefit | Basic Death Benefit | Basic Death Benefit | ||||
| Accrued Guaranteed Additions |
Accrued Guaranteed Addition | Final Bonus if any | ||||
| Accrued Reversionary Bonuses | ||||||
| Final Bonus if any | ||||||
| PolicyYear | Basic Death Benefit (For PPT 15 years) | Basic Death Benefit (For PPT 20 years) | ||||
| 1 - 10 | Max of (11 * Annual Premium) or Basic Sum Assured |
Max of (11 * Annual Premium) or Basic Sum Assured |
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| 11 - 15 | Max of (16 * Annual Premium) or Basic Sum Assured |
Max of (16 * Annual Premium) or Basic Sum Assured |
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| 16 + | Max of (16 * Annual Premium) or Basic Sum Assured |
Max of (22 * Annual Premium) or Basic Sum Assured |
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Other Policy Features
| Feature | Description | |||||
|---|---|---|---|---|---|---|
| Guaranteed Additions | Additions will be paid either on death or attaining age 65 whichever is earlier. | |||||
| The Guaranteed Addition will be Rs. 40 per 1000 Sum Assured for each policy year, and will accrue at the end of the policy year. | ||||||
| Bonuses | Compounded Reversionary Bonus: | This is a regular bonus expressed as a percentage of the total of basic sum assured and the reversionary bonus amount already attached to your policy. |
||||
| The reversionary bonus, once declared, shall vest in the policy immediately and is guaranteed to be payable as part of death benefit or survival benefit. | ||||||
| Interim Bonus | The Company may decide to pay a bonus to the policies resulting into claims by way of surrender or death or maturity during the intervaluation period. | |||||
| Final Bonus | The Company may pay a bonus as well on the termination of the policy due to death, surrender or maturity | |||||
| The bonuses are dependent upon the performance of the relevant participating fund and are not guaranteed. | ||||||
| Surrender | On surrender, Surrender Value equal to higher of Guaranteed Surrender Value (GSV) and Special Surrender Value (SSV) would be paid. | |||||
| You have an option to surrender your policy after payment of premium for first three policy years in full. | ||||||
| Year in which policy is surrendered |
GSV as a percentage of premiums paid (X) | |||||
| 10-Mar | 50% | |||||
| 11 + | Increasing every year by 1.5% subject to maximum of 70% | |||||
| Premium Discontinue | Before first three policy years | |||||
| If the policyholder discontinues the premium payment before paying premium for three policy years in full, the policy will lapse without any value and no benefits would be payable. | ||||||
| Such lapsed policies can be revived within a period of two years from the date of first unpaid premium by paying all due premiums with interest. |
||||||
| After first three policy years | ||||||
| Paid-Up Value = Paid-Up Sum Assured + Accrued Guaranteed Additions till the date of paid-up + Accrued Reversionary Bonuses till the date of paid-up + Final Paid-up Bonus, if any; Paid-Up Sum Assured = (T/N * Basic Sum Assured) Where, T = Number of premiums paid N = Number of premiums payable |
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| Revival | Revival of a lapsed or Paid-Up policyis available up to 2 years from the date of first unpaid premium | |||||
| Payment of all unpaid premiums withapplicable interest is required to revive the policy in all cases | ||||||
| Once the policy is revived, all the benefits and bonuses under the policy would be reinstated | ||||||
| Further any final Paid-Up bonus added at the time of conversion of a policy to Paid-Up would also get reversed |
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Add-ons
Not Available
Exclusions
If the Life Insured under the Policy, whether medically sane or insane, commits suicide, within one year of the date of reinstatement of the Policy, the Policy shall be void and the Company will only be liable to pay the higher of 80% of premiums paid or the surrender value.
Tax Benefits
Tax benefits will be as per Section 80C & Section 10(10D) of the Income Tax Act, 1961
Claim Process
Know Claim Process Of DHFL Pramerica Aajeevan Samriddhi
Company Overview
DHFL Pramerica Life Insurance Company Ltd is a joint venture between Dewan Housing Finance Corporation Ltd (DHFL), one of the top private sector housing finance company in India and Pramerica, a financial services leader from US and presence in Asia, Europe, and Latin America. The company’s mission is to provide quality financial advice and solution and assist customers to take right decisions to meet their life’s short term and long term financial goals.
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