What is DHFL Pramerica Family Income Plan? – Features, Benefits, and More
The DHFL Pramerica Family Income plan insurance policy from DHFL(Dewan Housing Finance Limited) Pramerica designs to support the policyholder’s families and financially secure their future.
It is the term insurance policy that offers monthly benefits and protects the policyholder’s families in case of his / her unfortunate demise.
Table of Contents
What Features of (DHFL) Pramerica Family Income?
- DHFL Pramerica family income plan economical it’s meant to ensure the financial security of our family in case of death.
- And extra protection with riders.
- Its regular income monthly.
- And also, attractive premium rates for all classes of customers.
What are the Benefits of (DHFL) Pramerica Family Income?
- The DHFL Pramerica Family Income is a non-participating policy and a decreasing term plan.
- Its survival of the policyholder at the end of the policy term results in no benefits existence paid. However, other benefits availed as follow:
- Suppose the policyholder passes away before the policy term’s expiry. In that case, the monthly income benefit grants to the nominee from the date on which, the policyholder died until the policy officially expires.
- However, a minimum of 36 monthly installments must complete by the policyholder for the nominee to be eligible for the claim.
- Customers who take chose the lump sum benefit will receive all future monthly income at a discounted value.
- The company determines the discounted rate. Also, nominees it eligible for benefits resulting from DHFL Pramerica Traditional Accidental Death Benefit Rider provided that the customer chooses the rider option.
- The nominee and insured individual will receive benefits resulting from DHFL Pramerica Traditional Critical Illness Rider if the customer chooses the option.
- And riders’ customers take the option to make the plan more comprehensive by choosing additional benefits such as riders.
- And riders are crucial add-ons as they allow customers to customize the plan to suit their requirements. Thus enabling us to attain maximum benefits from the policy.
- And the two policies available include DHFL Pramerica Traditional Accidental Death Benefit Rider. And DHFL Pramerica Traditional Critical Illness Rider.
- The first rider provides the additional predetermined sum assured to the beneficiaries. In contrast, the second offers coverage if the Life Assured is diagnosed with any of the ten surgeries/conditions / critical illnesses.
- Such as blindness, heart attack, aorta surgery, cancer, open chest CABG, repair of heart valves, available heart replacement, kidney failure, bone marrow / major organ transplant, stroke, and permanent paralysis of limbs.
What is Suitability Principles of (DHFL) Pramerica Family Income?
- The minimum entry age for its policy is 18 years, and the maximum is 55 years.
- And the minimum policy term five years, and the maximum is 30 years.
- Also, the maximum age of the individual at the time of maturity must not exceed 65 years.
- And the monthly family income of the individual must at least Rs.2,000.
- And premium payments complete on a monthly, quarterly, semi-annual, or annual basis.
- Premium payments must complete on a Regular Pay basis.
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