DHFL Pramerica Life TruShield

DHFL Pramerica Life TruShield is a non-linked, non-participating term insurance plan. It is a unique and tailor made insurance policy that offers financial security and benefits to your family in your absence. It comes with an attractive life insurance cover along with return of premium as maturity benefits, to ensure that the dreams and aspirations of your loved ones are fulfilled, even if you leave a void behind.

The policy also comes with a free look period of 15 days in case of offline purchase and 30 days in case of online purchase, from the date of receipt of the policy. During the grace period, a policyholder can choose to discontinue the term if they are dissatisfied by it. A refund of paid premiums will be made by the company after deducting the equivalent risk premium and other expenses incurred on stamp duty or medical tests.

Best Features of the DHFL Pramerica Life TruShield Plan

The following are some of the significant features of the DHFL Pramerica Life TruShield Term Plan that make it unique from other insurance policies-

• DHFL Pramerica Life TruShield comes with a life insurance cover along with an additional Shield Cover that will be paid along with the sum assured in the occasion of the policyholder’s demise.
• The plan allows the policyholder the flexibility of choosing the death benefits as per their financial and personal needs, from their level cover or reducing cover.
• It offers a Return of Premium on maturity upon survival of the life assured till the end of the policy’s tenure.
• The plan offers variable options for premium payment in comparison to its counterpart plans. You can choose to pay the premium for a Limited Pay cover, Regular Pay cover or as a one time payment.
• If the policy lapses due to the non-payment of premiums, it can be revived within a period of 5 years from the date of the first unpaid premium.

DHFL Pramerica Life TruShield Term Plan Benefits 

DHFL Pramerica Life TruShield Term Plan offers you the following benefit options that provide financial security in terms of life cover, additional Shield Cover and death benefits.

1. Comprehensive Coverage Benefit 

The DHFL Pramerica Life TruShield Term Plan offers the benefit of a comprehensive insurance cover. Life insurance, premature death with an additional shield cover and suicide provisions are covered by this policy. 

2. Premium Return Benefit  

This feature guarantees the life assured or the policyholder to receive all premiums paid during the entire tenure of the policy, except extra premiums, if they survive the entire tenure of the policy in both Level Cover and Reducing Cover formats. 

3. Flexible Payment Benefit 

This policy adds to your financial affordability by offering you different methods of premium payment such as Limited, Single and Regular Payment terms. 

4. Premium Discount Benefit

 The company offers a premium discount on each premium paid by policyholders that corresponds with their term of payment and the payment options that they choose. The following two charts will illustrate the same -

What is Covered?

1. Death Benefit 

This policy offers the life assured or the policyholder to choose their death benefit as per their financial and personal needs that can be collected from the insurance company either in the format of a Level Cover or Reducing Cover. 

• Level Cover - If the policy holder chooses Level Cover as death benefit coverage then the sum assured remains constant from the date of commencement of the policy to the end of the tenure.
• Reducing Cover - If the policy holder chooses Reducing Cover as the death benefit coverage, the sum assured as death benefit at any instance becomes equal to the amount of principal over the tenure of the policy.

2. Additional Shield Cover Benefit 

 The policyholder is paid an Additional Shield Cover in addition to the Death Sum Assured after the complete premiums payable for the entire term has already been paid. It is not fixed but is variable with each policy year. 

3. Maturity Benefit 

If the policy holder survives the entire period of the policy tenure, from the date of commencement of policy and the policy is still fully functional, the company will pay the life assured an amount equal to the Maturity Sum Assured and can be collected in both the formats of Level Cover and Returning Cover.     

4. Suicide Claim Benefit 

If the policy holder or the life assured dies due to suicide or self-harm, whether  sane or insane, within 12 months from the date of commencement of the policy, then the company offers an obligatory payment of more than or equal to 80% of total premium paid by the policyholder till the date of death, as provided by the policy in force. 

5. Surrender Benefit

If the policy lapses due to the non-payment of premiums or if  you wish to surrender the term insurance plan, DHFL Pramerica will pay you a surrender benefit. If the life assured dies during the tenure of the term plan while the policy is in a reduced paid-up status, the nominee or the family members of the life assured will be entitled to get the following benefit -

T (divided by) N (multiplied by) Death Sum Assured

Where T= Number of Premiums Paid, N=Number of premiums payable under the policy

The Death Sum Assured can be obtained in a Single Pay Option or a Regular Pay Option as follows - 

• Limited and Single Pay Option - In this mode of payment, the sum will be a highest of -

1. 125% of Single Premium in case Age of Entry is less than 45 years and 110% of Single Premium if age of entry is 45 years and above
2. Maturity Sum Assured
3. Base Sum Assured

• Regular Pay Option - In this mode of payment, the amount will be a maximum of -

1. 10 times the Annualized Premium
2. Maturity Sum Assured

What is not Covered?

There are no exclusions under this insurance and policy term. 

DHFL Pramerica Life TruShield Term Plan Eligibility

The following is a list of eligibility conditions for buying the DHFL Pramerica Life TruShield Term Plan-

DHFL Pramerica Life TruShield Claim Process 

The claiming process for the DHFL Pramerica Life TruShield Term Plan for availing Death and Suicide Benefit is as follows -

Death Claims 

1. The company has to be intimated of the death of the policyholder by their nominee or family member at the earliest.
2. The process has to be started by filling up the Death Claim form and the Document Information form that can be obtained either online or from the nearest Branch of DHFL Pramerica Life Insurance Company.
3. The Death Claim form has to be filled in and submitted either online or at the Claims Helpdesk of the nearest branch or at the Gurgaon Office of DHFL Pramerica Life Insurance Company.
4. The company will revert back to the nominee or the family member of the policy holder within a minimum of 3 working days and a maximum of 15 working days of filing the death claim form with an acknowledgement letter and other details.
5. If the company needs to perform an investigation after the death of the policyholder or the life assured in case of a life coverage, then the number of days taken for such investigation would be 90 days and claims would be settled after 30 days of such investigation. If no investigation needs to be performed, then the claims would be settled within 30 days of the date of receipt of the last documents.

Documents Required For Death Claim 

1. The Death Claim and Document Information Form, duly filled in
2. Policy Number
3. Name of Policyholder
4. Name of Nominee
5. Contact Number of Nominee
6. Address of Nominee

Claim Intimation Process 

Informing the company about the date of death of the policyholder or the life assured is of prime importance for the disbursement of different benefits as underlined by this plan. It can be done by following the steps below -

1. It can be done online by visiting the website www.pramericalife.in
2. It can be done by visiting the nearest branch of DHFL Pramerica Life Insurance Company.
3. The nominee or the family member of the deceased policyholder can also inform the company by calling the Customer Service Helpline at 1800-102-7070.
4. The company can also be intimated about the death of a policyholder via an Insurance Representative.

The nominee or family members or the policyholder or the assured will be informed by the company of the claims settlement process at every stage. Insurance Representatives will get in touch with  about the processing of the documents and all claims will be settled within 30 days of the date of receipt of final documents. 

DHFL Pramerica Life TruShield Plan Review 

The DHFL Pramerica has been the recipient of the ‘Pride of the Nation’ Award from the Ministry of Union Affairs, Government of India in 2018 and has also bagged the ‘Sales Championship Award’ in 2018 from the Economic Times. People who are looking for comprehensive protection and financial security against the uncertainties of life that offer a death benefit and an additional cover shield can shortlist this policy.

The term also has a grace period of 30 days for the payment of all due premiums. With an attractive claims settlement ratio of 96.08% for the FY 2018-19, maturity benefit, flexible payout options and a wide age margin for eligibility, DHFL Pramerica Life TruShield Term Plan is an adaptable and reflexive insurance cover that offers splendid financial guarantee to you and your loved ones in times of crises.