Terms & Conditions
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  • **Returns guaranteed by the insurer
  • *** Tax adjusted Returns - assuming 30% tax bracket

DHFL Pramerica Smart Cash Protect Plan

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DHFL Pramerica Smart Cash Protect Plan is a participating endowment cum insurance plan with bonus facility. Policyholders receive cash benefits for staying invested for the full duration of the policy term. Thus, we find that this policy helps policyholders prepare for their future and helps them achieve their long-term financial goals along with providing protection for their loved ones.

Key Features

  • This policy provides long-term coverage with a limited premium payment period.
  • Policyholders receive a Guaranteed Income from the sixteenth policy year till maturity of the policy.
  • The policyholders’ savings grow with the Bonuses the policy offers.
  • High level of life protection may be availed with no fixed ceiling on the maximum Basic Sum Assured.


  • If the policyholder survives until the policy matures, then he or she receives a Maturity Benefit. The Maturity Benefit is the 50% of the Sum Assured plus the Final Bonus if any.
  • When the policy completes, the policyholder receives a Survival Benefit that is the Reversionary Bonus accrued for the past fifteen years.
  • In the sad and unfortunate event of the demise of the policyholder, the nominee receives a Death Benefit.  The Death Benefit paid is paid as per the following rules:
  1. When the death occurs within the first fifteen policy years, the nominee will receive the Basic Death Benefit plus the accrued Reversionary Bonus plus Final Bonus.
  2. When the death occurs after completing fifteen, the nominee receives the Death Benefit plus the Final Bonus.

The Death Sum Assured is the higher of eleven times the annualized premium or 50% of the Sum Assured. The minimum Death Benefit is at least equal to 105% of the total premiums paid until the date of death.

  • Tax benefits may be availed as per the prevailing income tax rules of the Income Tax Act.
  • This policy provides Compound Reversionary Bonus and Final Bonus that are paid as part of the Survival Benefit, Maturity or Death Benefit.
  • On the completion of the sixteenth policy year, on every policy anniversary, the policyholder receives annual payouts that are equal to 6% of the Sum Assured.
  • The policyholder receives a Bonus Income on every policy anniversary, on completing sixteen policy years, until death or maturity of the policy.

Product Specification:




Entry Age of the Life Assured (Last Birthday)

PPT 12 years: 23 years

PPT 15 years: 20 years

PPT 20 years: 18 years

PPT 12 years: 55 years

PPT 15 years: 55 years

PPT 20 years: 50 years

Maturity Age (Last Birthday) of the Life Assured


PPT 12 years: 85 years

PPT 15 years: 90 years

PPT 20 years: 90 years

Policy Term (PT) in years

PPT 12 years: 70 – age of entry. Minimum PT: 30 years

PPT 15 years: 75 - age of entry. Minimum PT: 35 years

PPT 20 years: 85 – age of entry. Minimum PT: 40 years

Premium Paying Term (PPT) in years

12, 15 years, 20 years

Premium Paying Frequency

Yearly, Half-yearly, Monthly

Annual Premium

Rs. 12000

No limit

Sum Assured

Rs.  125000

No Limit


Details About Premium


Guaranteed Benefits

Non-Guaranteed Benefits @8%


Entry Age (yrs)

Policy Term (yrs)

Premium Payment Term (Yrs)

Sum Assured (Rs.)

Annual Premium (Rs.)

Death Benefit (Rs.) 

Surrender Value (Rs.)

Maturity Benefit  (Rs.)

Death Benefit  (Rs.)

Surrender Value  (Rs.)

Maturity Benefit (Rs.)

Maturity Age (Yrs)






































Policy Details

Grace Period: There is a limited timeframe of 30 days from the due date of the unpaid premium to pay all dues.

Policy Termination or Surrender Benefit: The policy may be surrendered after two years on the condition that all premiums have been paid. The Surrender Value that is paid is the higher of the Guaranteed Surrender Value and the Special Surrender Value. If the policy does not get revived or reinstated within the revival period, the policy is terminated. Termination of the policy also occurs on payment of the Maturity benefit or the Death Benefit.

Free Look Period: Policyholders have a limited free look period of fifteen days from the date of receiving policy documents to review the policy. This timeframe is extended to thirty days in case the policy was sold via distance marketing. If the policyholder does not wish to continue with the policy, then he or she can cancel the policy. The customer will receive premiums paid minus a proportionate premium for the risk borne by the company, including as any extra expenses, such as towards a medical examination or stamp duty charges.

Additional Features or Riders

  • Policyholders may enhance their protection by opting for any of two additional riders available with the policy. They are as follows:
  1. The DHFL Pramerica Traditional Accidental Death Benefit Rider in which the nominee will receive an additional Sum Assured on the accidental death of the policyholder.
  2. The DHFL Pramerica Traditional Critical Illness Rider that provides protection cover if the Life Insured is diagnosed with any of the ten mentioned critical illnesses or conditions. The critical illness benefit is paid as a lump-sum if the Life Insured survives for at least thirty days.
  • If the policyholder does not make premium payment for full two years, then the policy will lapse, and no benefits are paid.
  • The revival of a lapsed policy is possible if the policyholder submits a request for reinstatement within a timeframe of two years from the date of the first unpaid premium.
  • If premiums for two policy years are paid and subsequently the policyholder does not pay the due premiums within the given Grace Period, the policy acquires Paid- up Value.
  • A policy loan may be availed after the policy achieves Surrender Value, on the condition that the loan amount does not exceed 80% of the Surrender Value.


  • The term insurance cover is void if the person insured, whether sane or insane at the time, commits suicide within one year from the start of the policy cover. The company will refund 80% of the premiums paid to the nominee. In case the person insured commits suicide within one year from the policy reinstatement, the nominee will receive the higher of 80% of the premiums paid or the Surrender Value.

Documents Required

The policyholder has to fill up an ‘Application form’ with photo identity proof (Passport, PAN Card or Driving License) and income proof in the form of a copy of the latest ITR or Form 16 or copies of the last three months salary slips.

fixed deposit with life cover
Written By: PolicyBazaar - Updated: 16 March 2016