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DHFL Pramerica Child Plans

Child Insurance Plans are created particularly keeping in mind the benefits that a child can avail in future. If there is a minor child, it is advisable for the parents to go for a child insurance plan which can secure the future of the child in case of any eventuality.

Types of Child Insurance Plans

Child Insurance plan could be traditional plan which is a long-term tenure plan where premium is paid for longer or limited period. Upon maturity, a pre-determined fixed amount will be paid to the child. Or in case of death of policy holder, the child will get the death benefits instantly and the policy will continue till maturity because of ‘Premium Waiver’ rider. This feature is a unique feature of child insurance plan that allows the plan to continue for the benefit of the child in case of untimely death of parents, who were actually the policy holders. Insurance company continues the policy by paying the premium and the maturity benefit is handed to the child in due time. The amount of death benefit will also be paid to the nominee immediately in case of death of policy holder.

Another type of child insurance plan is ‘unit-linked’, where the premium paid is invested in the fund in the market and the benefits will grow based on the market growth. In case of maturity of the plan or pre-matured death of the policy holder, the insured person will get the fund value as the benefit. In either of the plans, it is meant for the welfare of the child.

DHFL Pramerica Life Insurance Company, headquartered in Gurgaon, India and jointly launched by DHFL, is a major housing sector financing company in India, along with Prudential International Insurance Holdings, Ltd. of USA. DHFL Pramerica offers many different insurance products including various child insurance plans to cater to the various needs and to protect the future of the child, thus giving coverage for a safe and secured future.

Features and Benefits of DHFL Pramerica Child Insurance Plans

The different Child insurance plans offered by DHFL Pramerica are:

DHFL Pramerica Life Future Secure Plan

  • This plan is a guaranteed endowment plan which is non-linked and non-participating
  • Guaranteed Additions Annually -- Increasing additions are guaranteed annually which is expressed in terms of percentage of annualized cumulative premiums paid. This percentage depends on the premium band
  • Flexibility of payment -- There are three options for premium payment and five options for policy terms to choose from
  • Income Benefit -- For comprehensive coverage plan, there is option of income benefit with payment of additional premium. This can enhance death benefit as follows:
  • 2% of the base sum assured will be given as monthly income from the date death happened till the policy term completion
  • 50 folds of monthly income will be payable on the scheduled maturity date as lump sum payment
  • Tax benefits on premium payment as per existing tax laws
  • Maturity Benefit – On survival till maturity date, the policy holder will get base sum assured along with accrued amount of the Annual guaranteed addition component.
  • Death Benefit – In case of sudden demise of policy holder, the company will pay lump sum amount equal to death sum assured plus Accrued annual guaranteed addition
  • Loan Availability – After the policy acquires the Surrender value, policy holder is eligible for loan equal to a maximum of 75% of Surrender value. Interest rate is decided by company on annual basis every year

DHFL Pramerica Future Idols Gold+

  • This keeps in mind the educational milestones from school to higher education of the child.
  • Provides comprehensive protection in case of death of policy holder immediately and in future.
  • Provides enhanced death benefits with death sum assured coupled with other bonuses like reversionary, interim and final bonuses. These are dependent on the policy terms and the entry age.
  • Maturity benefits are received at the end of term of policy that equals to 125% of base sum assured. Moreover, accrued reversionary bonus and final bonus (if applicable) are added to that.
  • Wealth accumulation by bonus addition with annually declared compounded reversionary bonus. Bonuses depend on the participating fund performance and hence, are not guaranteed.
  • Flexibility in premium payment options like regular or limited terms for premium payment.

DHFL Pramerica Rakshak +

  • Non-participating endowment plan to secure financial future of the child.
  • Guaranteed death benefit with immediate pay-out, monthly recurring pay-out and final benefit pay-out that is payable at maturity. Death Sum Assured plus Accrued Annual Guaranteed Addition is payable if policy is in-force. Death sum assured depends on the policy starting age.
  • Guaranteed maturity benefit that provides lump sum corpus equal to the product of Base sum Assured and Guaranteed Maturity Multiple (GMM). GMM depends on the chosen policy term. In addition, maturity benefit includes Accrued Annual Guaranteed Additions.
  • Annual Guaranteed Addition that increases after every 3 years
  • Tax benefits on premium payment

DHFL Pramerica Rakshak Gold

  • Guaranteed Maturity Benefit that provides corpus for the future financial need of the child. Lump sum corpus equal to the product of Base sum Assured and Guaranteed Maturity Multiple (GMM).
  • Death Benefits that include:
  • Immediate benefit of lump sum, same as Base sum assured and Accrued Annual Guaranteed Addition
  • Monthly pay-out – 2% of the Base Sum Assured. This starts from the month the death happened and continues for at least 36 months even if that goes beyond policy term.
  • Options for limited period of premium payment , e.g., 7 years or 10 years
  • Annual Guaranteed Additions which increases after every 3 years
  • Tax benefits on premium payment as per tax law
  • Loan availability based on Surrender Value

DHFL Pramerica Smart Fee Protect

  • Non-participating endowment plan to ensure uninterrupted education for the child
  • Death Benefits -- Increasing monthly income: 5% increase per year from 2nd year of policy inception and paid in case of death of the policy holder. Accrued guaranteed additions along with base sum assured is paid at maturity
  • Maturity Benefits – On maturity, in case of an in-force policy, the policyholder gets the amount equal to the sum total of: Base sum assured and Accrued Annual Guaranteed Additions
  • Optional Riders to enhance income like: - DHFL Pramerica Traditional Accidental Death Benefit Rider
  • DHFL Pramerica Traditional Critical Illness Rider
  • Annual guaranteed additions on the cumulative premiums to enhance income. Income is subject to policy in-force and the premium bands
  • Tax benefit as per laws
  • Loan Availability where the loan amount is based on Surrender value and interest rate is determined by company on a yearly basis

Eligibility Details for DHFL Pramerica Child Plans

Eligibility criteria varies from one child plan to another. But the general outline is as follows:

  • Age: Minimum -- 18 Years, Maximum – 50 Years
  • Maximum Maturity Age – 65 Years
  • Policy Terms: Minimum -- 10 Years, Maximum – Depends on the plan
  • Premium Payment Terms: Minimum 7 Years, Maximum – Depends on the plan
  • Monthly Income: Minimum – 2000 Rupees, Maximum – No specific limit but subject to underwriting
  • Base Sum Assured: Monthly Income at inception X Premium Payment Term X 12
  • Minimum: 100,000 Rupees, Maximum – No limit, subject to board approval and underwriting
  • Premium Paying Mode: Monthly, Half-yearly and Yearly
  • Minimum Annual Premium: Differs on the plan

Why DHFL Pramerica Child Plans

DHFL Pramerica offers several Child Insurance plans and one can choose the best fit plan for them out of all these, based on their requirements. These plans provide the guarantee of a financially secured future for the children in case of the untimely demise of the parents. Certain child plans provide support for the education as well.

FAQs on DHFL Pramerica Child Insurance Plans

How can I check the current status of my claim?

For inquiring claim related status, one can approach the company by any of the following:

  • Call Claims help-desk between 9 a.m. and 6 p.m. Monday to Friday in the number: 0124-4697072
  • Call toll-free number 1-800-102-7070 between 9 a.m. and 9 p.m. Monday to Friday
  • By e-mail at:

How do I notify a claim?

  • Visiting any DHFL Pramerica branch
  • Notifying the company online
  • E-mail the company at:
  • By calling: 1-800-102-7070

How do I register a claim?

Need to submit the following original documents mandatorily at the branch:

  • Claim Form, completed and filled
  • Original document of Policy Bond

Also the following documents to be carried to the branch for verification by Branch Operations Executive:

  • Death Certificate
  • Proof of nominee identification and establishing relationship with the deceased
  • Bank A/C proof, Cancelled cheque with account holder’s name printed on it or Original Bank Statement or attested and stamped copy of bank statement or passbook or letter with stamp and sign certifying account details

I have lost my policy bond, what should I do?

In such cases, a customer has to submit an indemnity bond that is available in the branches. It is done on a 100 rupees stamp paper that is non-judicial and the claimant has to sign it.

The nominee is not alive. What should I do?

To process the claim, a copy of ‘Legal Heir Certificate’ has to be provided.

What are the timelines to settle a claim?

  • Submission of all relevant documents is very important to accelerate the claim process.
  • Company targets to settle the claim within 30 days after all documents are submitted.
  • In case further investigation is required by the company, timeline extends.

Where can I get the claim form?

  • Could be downloaded from website under ‘Claims’ section
  • Available in branches of DHFL Pramerica Life
  • Contact DHFL Pramerica Life representative

Which documents do I need to submit to file a claim?

Below are the required documents, but the company keeps the right to ask for other documents as required to process the claims. Mandatory documents:

  • Completed Death Claim Form
  • Death Certificate
  • Policy document in original

For Accidental Death: (Documents to be attested by company personnel)

  • FIR
  • Report of Post Mortem

Nominee’s mandatory Documents:

  • Photo ID, Address Proof and Relationship proof with Deceased
  • Original Cancelled cheque with name printed
  • Bank attested photocopy of Bank statement or passbook, (less than 3 months old)

Additional Helpful documents for Non-accidental death:

  • Last report of medical attendants
  • Report for hospital treatment
  • Record of hospital treatment including from the date of admission till death
  • Discharge/death certificate
  • Letter from hospital authority
  • Cremation certificate

For Accidental death:

  • Cutting of newspaper
  • Panchnama/ Police inquest report
  • Police investigation report

For Critical Illness:

  • Critical Illness claims form
  • All past and present discharge summary, hospital and lab reports, consultation and admission history
  • Last year’s Employer’s leave report (For salaried person)

Who is entitled to receive the claimed benefit

  • Nominee
  • Appointee, in case nominee is minor
  • Proposer, in case policy is not covering own life
  • Assignee, when policy got assigned

Why is it essential to submit all the records /documents as required by the company?

  • Claim processing requires all relevant information for smooth and successful outcome.

How can I check policy status for DHFL Pramerica child plans?

One has to use login ID and password and log in to personal account. Then click on ‘Policy Details’ tab to check the status.

Policy Cancellation process for DHFL Pramerica Child Plan?

  • Fill in Surrender Form completely
  • Dispatch the form to head office with other necessary documents and Surrender charges.