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DHFL Pramerica Life Insurance

DHFL Pramerica Life Insurance Company stands among the few companies in India whose performance in covering individuals is exemplary. The company's target is to provide affordable, efficient and effective life insurance life covers.

Awarded for an innovative insurance products

The friendly mode of operation that DHFL Pramerica Life Insurance Company features is meant to ensure that every life that the company touches feels nothing but maximum protection and enrichment.

Benefits of Buying from DHFL Pramerica Life Insurance Company

  • Easy Mode Of Payment- The company does not necessarily require you to appear in person to make your regular payment. The company’s online portal enables any person to make the require. This is meant to provide maximum convenience to customers. Aside from that, the company also gives room for cheque payment.

  • Simplified Claim Process- DHFL Pramerica Life Insurance Company acknowledges the fact that claims can take long to process. It is for this reason that the company has put down a mechanism that enables company to settle the necessary claims within shortest time possible. Less paperwork. With the help of expert customer support and attendants, you can raise a claim and have it processed in short time.

  • 24x7 Support - It is among the few companies in India whose operation goes beyond normal. The company is always at the full disposal of clients. Since inception, the company has been operating on 24-hour basis. Any help needed can be easily found through a simple contact process to the DHFL Pramerica Life Insurance Company’s desk.

  • Variety of Plans -The company is highly versatile and that is why clients are provided with a wide range of Life Insurance Plans. To help you make the right choice, the company provides you with free consultation through its agents. You can simply contact the company and enquire about different plans.

  • Bonus - Upon maturation of your insurance policy, you should get ready to enjoy a handful of bonuses. The company has established an extremely favorable mechanism that enables them to determine the amount of bonus that each of the customers should get. The basic criterion is that the worth of the insurance determines the ultimate bonus.

DHFL Pramerica Life Insurance Plans

DHFL Pramerica Family First

This life insurance plan is meant to keep your family financially safe even after you have departed. The following are the key features that come with the plan:

  • Nominal Cost Financial Protection- DHFL Pramerica Family First Plan provides an assurance of financial protection to all customers at nominal costs. This makes the plan highly friendly to the respective customers. Protection here is guided by the amount of money paid by the customer.

  • 20 Times Lump Sum Benefit- The Company provides up to 20 times the monthly income chosen in terms of lump sum. This comes as an ideal strategy in ensuring that immediate expenses are provided in the event of an unfortunate incident. The benefits are applicable almost instantly after the occurrence of an unfortunate event.

  • Income For A Minimum of 48 Months- In an event of death, the nominees are entitled to a minimum of 48 months of income. This applies even in a case where the beneficiaries have received their lump sum. Additionally, this term of the plan applies even when the claim has been raised within the last 4 years of the policy in question. The essence of this is to provide maximum benefits to the customers.

  • Eligibility terms- The criterion of eligibility for this plan is highly friendly to the customers. It requires one to be of 18 years and above. Aside from that, the applicant should have a policy term of at least 10 years. In addition, the customer should pay on monthly, quarterly, and annual basis based on personal convenience. Regular payment of premiums is also part of the requirement.

  • Tax Benefits- DHFL Pramerica Life Insurance Company assures customers of the respective tax benefits. Under Section 80C and Section 10(10D) of the Income Tax Act, you can avail the tax benefits on the premiums paid.

Riders Available

  • DHFL Critical Illness Rider- This rider is meant for those who are critically ill and in need of the respective help. DHFL Pramerica provides the required assistance in an event of critical illness like Cancer, Permanent Disability etc.

  • DHFL Pramerica Accidental Death Benefit Rider- This is applicable in an instance where death hits accidentally. The beneficiaries, including family members, are in this case entitled to the respective benefits. Note that this comes before the main insurance cover comes into full swing. It is additional risk coverage for the insured and the beneficiaries.

The plan is meant to offer maximum protection to those affected by the demise of their close one. Among the prime features and benefits that come with DHFL Pramerica TruShield include:

  • Variety of Death Insurance Choices- The insured parties are given the liberty to choose from a wide range of death insurance benefits. This means that upon demise, the beneficiaries will be granted benefits in regards to the choice of the insured. Level cover and reducing cover are the prime options that DHFL Pramerica Life Insurance Company provides.

  • Comprehensive Protection- This plan goes a mile further to offer not just regular but comprehensive protection. Customers get the benefits of their life insurance cover, and in addition they also get a Shield Cover. The Shield Cover is only payable in an event of the demise of the insured. With a comprehensive plans as this one clients are given additional financial security.

  • Maturity Benefit - In an event of survival, the insured party is assured of full repayment of premiums. In other words, the customer is assured of getting back the entire amount paid as premium in an instance of survival. However, it should be noted that repayment excludes extra premiums if there is any.

  • Tax Benefits- Customers are assured of tax benefits under Section 80C and Section 10(10D) of the Income Tax Act. This means that there is the possibility of enjoying minimal tax deductions on benefits upon maturation.

DHFL Pramerica Rakshak Gold

The basic aim of this plan is to ensure that your family remains secure after your demise. It is a non-participating endowment insurance plan whose mechanism is complex as compared to others.

  • Maturity Benefit- The insured has a maximum guarantee of getting benefits right after maturity. Benefits in this regard are in connection with the amount paid for premiums. The higher the amount paid, the more the benefits enjoyed by the insured.

  • Increasing Additions Annually- The insured parties are assured remarkable additions on their value insured after every 3 policy years. This makes the amount paid for premiums more than the initial one. In a nutshell, the insured party stands a higher insurance value than the amount paid for premiums.

  • Guaranteed Tax Benefits- DHFL Pramerica Life Insurance Company operates by the tax laws. In this operation, customers are assured of friendly waivers. This means that there is the chance to get higher amounts of benefits when tax waivers are applied.

This plan falls in the health perspective in the sense that it is meant to secure you financially in an event you are hit by Dengue illness. The plan word during the illness and the recovery process. The key features and benefits that the plan features include:

  • Simultaneous Claim- The beneficiaries of this plan can make simultaneous claims based on existing insurance policies. This means a higher coverage for the insured in an event of dengue illness.

  • Direct Processing- The insured is not required to undergo various tests to confirm if he/she is indeed suffering from Dengue. Processing begins right after a claim is placed.

  • Minimal Paperwork- Application and processing of this plan does not require comprehensive paperwork. It takes minimal time to process any request under the plan.

  • Defined Benefits- The mode under which benefits are awarded to the insured is based on the policy bought and the amount paid on premiums. There is no ambiguity involved when processing the benefits of the insured.

  • Guaranteed Discounts- Upon maturation, this plan guarantees the insured a handful of discounts. This comes in the form of bonuses. Majority of the discounts are applicable to those who have insured family members as well.

Exclusions of DHFL Pramerica Life Insurance Plans

The policyholder may not be in a position to seek of file claims in an event of:

  • Death occurrence through negligence, suicide, or any other means that violates the coverage terms of the insurance.

  • Inappropriate way of filing claims- The insured must follow the right procedure to ensure that the respective claim is processed. Inappropriate channels of filing claims do not materialize.

Claim Process of DHFL Pramerica Life Insurance Plans

To make a claim at the DHFL Pramerica Life Insurance Company, you must follow 3 simple steps.

Step 1: Intimate The Company

This step demands that the insured or the beneficiaries must inform the company about the claim. Among the details that must be provided under this step include; date of death or critical illness, the policy number, nominees, the full names of the policyholder and the address.

Step 2: Submission of documents

This step requires the insured or the beneficiaries to submit the respective documents to the company. The claim form can be retrieved from the company’s website. It is required that the claimant should fill the form correctly and in plain letters. All details should be rechecked before submission. It is also required that the form should be submitted along with other requested details.

Step 3: Processing and Decision

Upon provision of all the required details, the claim is ready for processing. This is solely the role of the company. During the processing, representatives at the company will be at liberty to contact you and inquire on certain things. Normally, processing takes approximately 30 days to complete. Processing begins right after the required documents have been presented to the company.

Review of DHFL Pramerica Life Insurance Plans

Between the year 2017 and 2018, DHFL Pramerica Insurance Company recorded a claim settlement ratio of 96.62%. Based on the above facts, it comes out clearly that DHFL Pramerica Insurance company is close to 100% in terms of its operation in settling claims.

FAQs on DHFL Pramerica Life Insurance Plans

What Is The Basic Amount of Sum Assured Availed By The Company?

The company provides a basic limit of Rs 75,000. This means that if the amount falls below the limit, you may not be granted the respective opportunity. Sum assured can go above the limit based on one’s financial capacity and preference.

How Does Each Plan Work?

Any interested party is required to undergo 3 different stages of joining a given plan. First, the interested person should choose the most preferred plan and provide sum assured amounting to minimum Rs 75,000. Next, you will be required to choose duration. Finally, you need to pay your premiums based on the duration and any other secondary preference.

Can Premium Payment Dates Be Postponed?

No! The company’s terms in regards to premium payment is that the dates cannot be changed once chosen.

What Premium Modes Are Availed To Customers?

The company provides customers with the option of paying their premiums on monthly, half-yearly, or annually.

How to pay premium? What are the modes of payment available?

Individuals can pay their premiums through any of the following modes - online, at a branch office, ECS, NEFT, postal money order, SBI bank branches, AXIS Bank branches and via cheque.

How can I check policy status?

For information on the policy, users are advised to log into the portal of the insurer using their username and password.

What is the policy renewal process?

To renew a policy, the below steps need to be followed:

  • Enter user details (on the customer portal)
  • View policy and premium Information
  • Make payment
  • Store transaction number for future reference

What is the company's process to settle a claim?

To file a death claim, the nominee is required to submit certain documents at any of the DHFL Pramerica Life branches. The documents that need to be handed over include filled-up death claim form, death certificate (A) and original policy document, among others.

What is the policy cancellation process?

An individual can request for cancellation of policy during the free-look period, which is 15 days from the date of receipt of the original policy papers. In order to cancel the policy during this period, the user can head to any of the company’s branches and submit:

  • An application letter stating the reason for cancellation
  • Original policy bond
  • Bank cancelled cheque/Xerox of passbook