DHFL Pramerica Fututre Idols Gold+ Plan

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Introduction/Overview

DHFL Pramerica Future Idols Gold+ is a traditional insurance plan designed to take care of the child’s future if the policyholder is not around by creating a corpus to meet the child’s future needs

Key Features

  • It is a participating plan with regular and limitedpremium payment option
  • The death benefit payable can be taken in lumps um or monthly instalments

Benefits

  • On death of the policyholder, Death Sum Assured + Interim Bonus + Final Bonus (if any) is payable
  • The death Sum Assured is higher of 10 times (if age is <45 yrs.) or 7 times (if age is >=45 yrs.) the annual premium or 125% of the base SA.
  • The death SA can be taken either in lump sum or 50% of the base SA is payable on death and 125% on the maturity date and 1% of the base SA to be paid in monthly instalments from death till maturity date for a minimum of 36 months
  • The death SA should not be lower than 105% of all premiums paid till death
  • On Maturity, 125% of the base SA +accrued Reversionary Bonuses + Final Bonus, is paid
  • Income tax benefit on the premium paid as per Section 80C and on the claims received as per Section 10(10D) of the Income Tax Act.

Product Specification:

 

Minimum

Maximum

Entry Age (Last Birthday)

18 years

50 years

Maturity Age (Last Birthday)

-

65 years

Policy Term (PT) in years

15, 20, 25

Premium Paying Term (PPT) in years

8

25

Premium Paying Frequency

Annual, half-yearly, monthly

Premium

10,800

Depends on age, SA, term and PPT

Sum Assured

150,000

5 crores

 

Details About Premium

Annual premium in Rupeesfor a male with SA 150,000

Policy Term

15 years

20 years

25 years

PPT

8 Pay

10 Pay

12 Pay

20 Pay

15 Pay

25 Pay

Age 35 yrs.

24,324

21,045

17,454

13,356

14,598

11,121

Age 45 yrs.

25,547

22,463

19,539

15,087

-

-


Policy Details

Grace Period: 30days’ grace period is allowed for premium payment in all modes. If policyholder fails to make payment within the grace period, the policy lapses

Policy Termination or Surrender Benefit: Policyholder is allowed to surrender the policy and receive the Surrender Value if at least 3 full years’ premiums have been paid. The Surrender Value will be higher of the Guaranteed Surrender Value or the Special Surrender Value.

GSV = GSV % of Premiums paid + GSV% of vested reversionary Bonuses

Free Look Period: If you would not be pleased with the coverage, and terms and conditions of the policy, you have the option of canceling the policy within 15 days of receipt of the policy documents, provided there has been no claim.

Inclusions

  • Loan isavailable under the plan to a maximum of 80% of the Surrender Value

Additional Features or Riders

  • Compounded Reversionary Bonus, Interim Bonus and Final Bonus increase the corpus

Exclusions

  • In case of suicide committed within 12 months of policy inception only 80% of premiums paid are returned to the nominee. In case of suicide within 12 months of revival, higher of 80% of premiums paid or acquired Surrender Value is paid

Documents Required

Policyholder has to fill up an ‘Application form/ proposal form’ with accurate medical history along with the address proof and other KYC documents. Medical examination may be required in some cases, based on the sum assured and the age of the person.