DHFL Pramerica Smart Wealth+ Plan

Introduction/Overview
DHFL Pramerica Smart Wealth+is a Unit Linked Insurance which yields good returns through participation in capital markets and also gives the added advantage of life insurance coverage.

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Guaranteed Tax Savings
Under sec 80C & 10(10D)
₹ 1 Crore
Invest 10k Per Month*
Zero LTCG Tax
Unlike 10% in Mutual Funds

*All savings are provided by the insurer as per the IRDAI approved insurance plan. Standard T&C Apply

*Please note that the quotes shown will be from our partners

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Key Features

It is a unit linked plan with Limitedand Regular Pay option of premium payment
Persistency Units are added at the end of the 10^th, 15^th and 20^th policy years
There is an option of Fund Conservation at Maturity whereby the units form all the funds will be directed to the Debt Fund every half tear in the last 3 policy years to protect the Fund Value form market fluctuations towards maturity

The following4 funds are available for investment

Debt Fund
Balance Fund
Growth Fund
Large Cap Equity Fund

Benefits

Persistency Units are added @ 1% of the average Fund Value in the last 3 years prior to the additions
The insured will get the total Fund Value on Maturitywhich can either be taken that time in lump sum or availed in instalments over a period of 5 years post Maturity under the Settlement Option
On death of the policyholder, higher of the Sum Assured net of partial withdrawals made in the last 2 years if the age attained was less than 60 years orFund Value subject to a minimum of 105% of all premiums paid till death is payable
If age attained was more than 60 years, higher of the Sum Assured less withdrawals made after age 58 or the Fund Value subject to a minimum of 105% of all premiums paid is payable
Income tax benefit on the premium paid as per Section 80C and on claims under Section 10(10D) of the Income Tax Act.

Product Specification:

	Minimum	Maximum
Entry Age (Last Birthday)	8 years	55 years
Maturity Age (Last Birthday)	-	75 years
Policy Term (PT) in years	20
Premium Paying Term (PPT) in years	5 / 10 / 15 / 20
Premium paying Frequency	Annual, half-yearly, quarterly, monthly
Yearly Premium	30,000	No limit
Sum Assured	For PPT 5 years – 10annual premium for ages<45 years or 7annual premium for ages>=45 years For PPT 10, 15, 20 yrs. – 10*annual premium	No limit

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Details About Premium

Premium in Rupees and Benefit Illustration for a term of 20 years and PPT 5 years

Age	35 years	45 years	55 years
Premium	50,000	50,000	50,000
Sum Assured	500,000	350,000	350,000
Fund Value @ 4%	302,739	304,292	254,018
Fund Value @ 8%	655,551	657,588	626,080

Policy Details

Grace Period: 15 days grace period is allowed for monthly mode and 30 days for other modes of premium payment after which policy lapses

Policy Termination or Surrender Benefit: Policyholder is allowed to surrender the policy after 5 completed years. If surrendered before 5 years, the fund value net of discontinuation charge will be credited to the Discontinued Policy Fund where it will earn a minimum of 4% p.a. growth. After completion of 5 years, the fund value in the Discontinued Policy fund as on that date will be paid to the policyholder. If surrendered after 5 completed policy years, the entire Fund value on the date of surrender is paid without any charges

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

One free Partial withdrawal is allowed every year after 5 completed policy years with a minimum value of Rs.10,000
4 free Switches are allowed every year forswitching between funds
Premium Redirection is allowed to redirect future premiums

Additional Features or Riders

DHFL Pramerica Unit Linked Accidental Death Benefit Rider is available under the plan which can be added at inception or at any time during the policy term

*All savings are provided by the insurer as per the IRDAI approved insurance plan. Standard T&C Apply

Exclusions

The benefit paid in case of suicide within 12 months of policy inception or revival is the fund value as on that date.
For the rider benefit, accidental deaths due to any self-inflicted injury, acts of criminal nature, war, aviation, participation in hazardous activities, alcohol abuse, etc. are excluded