DHFL Pramerica Life Secure Savings Plan

life insurance
Protect your loved ones against death, disability and Illness
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DHFL Pramerica Life Secure Savings Plan is a non-linked, non-participating endowment plan which also offers the benefits of a life cover to your family when you are not around. The plan offers guaranteed income by way of annual payouts for the payout period opted by you after the completion of the policy term. In addition to the annual payouts, the plan also provides a Savings Booster equivalent to 0.16 to 6 times of your annualised premium as a lump sum at the end of your payout period.

Alternatively, you can also choose to receive a lump sum amount on plan maturity instead of the annual payout and Savings Booster. You can also avail a loan under the policy once it acquires a surrender value.

Best Features of DHFL Pramerica Life Secure Savings Plan

Following are the key features of the DHFL Pramerica Life Secure Savings Plan - 

  1. Guaranteed Income: The plan provides guaranteed annual payouts starting from the end of the policy term for the payout period chosen by you. The value of the annual payout depends on the selected premium payment term.
  2. Savings Booster: At the end of the payout period, the plan provides you a lump sum amount known as the Savings Booster equivalent to 0.16 to 6 times of your annualised premium.
  3. Premium Payment Term (PPT) & Payout Period: You can choose to opt for a PPT of 8, 10, or 12 years as per your financial plan. The payout period is equivalent to the PPT chosen by you.
  4. Policy Term: The plan comes with a fixed policy term of 13 years.
  5. Higher Benefits: The plan provides a higher Savings Booster to females and to individuals who pay higher premiums.
  6. Policy Loan: After the payment of full 2 years’ premium, you can avail a loan of up to 75% of the surrender value of the plan at an interest rate of 8.5% p.a.
  7. Policy Revival: A lapsed or paid-up policy can be revived within 5 years from the date of the first unpaid premium.

Benefits of DHFL Pramerica Life Secure Savings Plan

The following benefits are available to the investors of the DHFL Pramerica Life Secure Savings Plan -

  1. Death Benefit

In case of an unfortunate death of the life assured during the policy term, the highest of the following is paid to the nominee as the death benefit - 

  • 11 times of the annualised premium
  • 105% of all the premiums paid till the date of death
  • Basic sum assured
  • Maturity sum assured = [One Annual Payout * Lump Sum Factor for Annual Payout] +[Savings Booster * Lump Sum Factor for Savings Booster]

Lump Sum Factor For Annual Payout

Lump Sum Factor For Savings Booster

PPT

Factor

PPT

Factor

8 years

5.57

8 years

0.51

10 years

6.46

10 years

0.43

12 years

7.22

12 years

0.36

If the death of the life assured occurs after the policy term but during the payout period, the nominee will continue to receive the outstanding annual payouts on the due dates and the savings booster at the end of the payout period.

Alternatively, the nominee can choose to get a lump sum equivalent to the aggregate of the discounted value of the remaining annual payouts along with the savings sooster at 8.85% p.a.

  1. Maturity Benefit

In case of survival of the life assured till the end of the policy term, the following are paid as the maturity benefit - 

  • Annual payout equivalent to 150% or 170% (depending upon your PPT) of the annualised premium plus
  • Savings Booster equivalent to the product of the annualised premium and the Savings Booster Multiple.
  1. Surrender Benefit

If you choose to surrender the policy any time before the completion of the policy term but after the payment of full 2 years’ premiums, then you are eligible to receive a surrender benefit. The surrender benefit shall be equivalent to the higher of the following - 

  • Guaranteed Surrender Value (GSV)
  • Special Surrender Value (SSV).

Once surrendered, the policy gets terminated and cannot be revived.

DHFL Pramerica Life Secure Savings Plan Eligibility

The DHFL Pramerica Life Secure Savings Plan comes with the following eligibility conditions - 

DHFL Pramerica Life Secure Savings Plan Eligibility Conditions

Minimum Age At Entry

5 years

Maximum Age At Entry

60 years

Minimum Age At Maturity

18 years

Maximum Age At Maturity

73 years

Policy Term

13 years

Premium Payment Term

8, 10, 12 years

Minimum Annualised Premium

Annual Mode - INR 25,000 p.a

Other Modes - INR 30,000 p.a

Maximum Annualised Premium

No limit, subject to underwriting

Base Sum Assured

11*annualised premiums, subject to a minimum of INR 2.75 Lakh

Premium Payment Mode

Yearly, Half-yearly, Quarterly, Monthly 

Premium Bands


 

Band

Annualised Premium

Band 1

INR 25,000 to INR 39,999

Band 2

INR 40,000 to INR 99,999

Band 3

INR 1 Lakh and above


 

DHFL Pramerica Life Secure Savings Plan Review

DHFL Pramerica Life Secure Savings Plan is an endowment plan bundled with the benefits of a life cover. The plan provides a guaranteed flow of regular income for the payout period chosen by you. This makes it an ideal plan for individuals who want regular income after retirement. The plan also helps you to keep your loved ones secured in case of your unfortunate death with its death benefit.

The plan also provides you with a Savings Booster at the end of the payout period which can come handy to meet planned as well as unplanned financial requirements. The plan offers you enough flexibility by way of choice of 3 premium payment terms of 8, 10, and 12 years. In a nutshell, this plan can be shortlisted by individuals looking for a savings plan which provides stable flow of income along with appreciation of wealth and life cover benefits.

DHFL Pramerica Life Secure Savings Plan FAQs
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