• Term Life
  • Investment

DHFL Pramerica Flexi e-Term Plan

DHFL Pramerica Flexi e-Term Plan is a customized term insurance plan that is designed to cater to the unique investment requirements of individuals. Policyholders can further enhance the effectiveness of the plan by opting for additional benefits like accidental death benefit, terminal and critical illness options. It also offers the flexibility to increase the life cover to meet the altering financial needs of changing life stages.

Note: All information has been sourced from the official website of DHFL Pramerica.

Features of DHFL Pramerica Flexi e-Term Plan

Following are some salient features of the Flexi e-Term Plan-

  • Insurance protection at affordable cost
  • Flexibility in benefit pay-outs as Fixed or Increasing; lumpsum or staggered; depending on your needs.
  • Extended coverage with a lump sum payout upon diagnosis of any of the 35 Critical Illnesses
  • Increase your life cover with changing life stages and protection needs in the same plan
  • Augment your life cover with accidental death benefit, terminal and critical illness options
  • Avail tax benefits on the premiums paid and pay-out benefits received as per prevailing tax laws under Section 80C & 10(10D) of the Income Tax Act, 1961.

Benefits of DHFL Pramerica Flexi e-Term Plan

Benefit Options:

The benefits shall be payable as per the Option chosen by the Policyholder at inception of the Policy.

(a) Option 1: Life Cover

In unfortunate event of death of Life Assured during the Policy Term, while the Policy is in-force, Death Sum Assured will be paid out to the Nominee as per the Benefit payout option chosen at inception. The policy will terminate on payment of this benefit.

However, Death Sum Assured under the policy will be highest of the following:

  • 10 times the Annualized Premium#
  • 105% of all the Premiums paid* as on date of death
  • Absolute amount payable on death which is equal to

Base Sum Assured,

The Annualized premium shall be the premium payable in a year chosen by the policyholder, excluding the underwriting extra premiums and loadings for modal premiums.

  • Premium paid for this purpose is Premium exclusive of any underwriting extras, if any.

(b) Option 2: Life Cover +Terminal Illness On occurrence of either death of life assured or diagnosis of Terminal Illness, whichever is earlier, the Death Sum Assured will be paid out to the Nominee as per the Benefit payout option chosen by policyholder at inception, subject to the Policy being in force.

Terminal illness is an accelerated benefit and the policy will continue with the remaining Base Sum Assured, if any, (reduced by the extent of the Terminal Illness benefit paid) and the benefit payment upon diagnosis of Terminal Illness would be restricted to Rs. 1 crore. Terminal Illness benefit will be payable to the Life Insured as lump sum only.

(c) Option 3: Life Cover +Terminal Illness + Accidental

In addition to the benefits payable under option 2 (Life cover plus Terminal Illness), the policy also provides an extra cover in case of accidental death. The additional death benefit equal to Accident Death Benefit would become payable as lump sum in case Life Assured dies due to an Accident.

An accident means sudden, unforeseen and involuntary event caused by external, visible and violent means.

(d) Option 4: Life Cover + Terminal Illness + Critical Illness

Under this option, in addition to the Death Sum Assured under option 2 (Life cover plus Terminal Illness), the policy provides Critical Illness Benefit as chosen by the policyholder at inception, upon diagnosis of any of the 35 critical illnesses. Critical Illness benefit is also an accelerated benefit and the policy will continue with the remaining Base Sum Assured (reduced by the extent of the Critical Illness benefit paid). The Policy will continue for remaining Base Sum Assured. Premium payment towards CI Benefit will cease after payment of Critical Illness Benefit.

Critical Illness benefit is payable as Lump Sum only, on first occurrence of any of the covered 35 critical illnesses.

(e) Option 5: Life Cover + Terminal Illness + Critical Illness + Accidental Death Benefit

In addition to the benefits payable under option 4 (Life cover plus Terminal Illness plus Critical Illness), the policy also provides an extra cover in case of accidental death. Critical Illness and Terminal Illness Benefits are Accelerated Benefits while ADB is an Additional Benefit.

Options 4 and 5 are available, only if the policyholder has opted for regular premium option. Please note that premium payment towards the Base Sum Assured greater than Rs. 1 crore, if any, would be calculated for Option 1 (Life Cover) only.

Eligibility Criteria DHFL Pramerica Flexi e-Term Plan

Entry AgeMinimumMaximum
18 yearsFor Regular Pay option - 65 years For 60 Years less age at entry option - 50 years
Maturity Age75 years
Policy TermPremium Payment Term (years)Minimum75 years - Entry Age
Regular Pay10 years
60 Years less Age at Entry (subject to minimum PPT of 10 years)PPT + 1
Premium Paying TermRegular Pay - Pay for entire policy term 60 years less age at entry
Premium Paying ModeAnnual, Monthly
Base Sum AssuredRs. 25 lakhsNo limit subject to underwriting
Base Sum AssuredRs. 25 lakhsRs. 1 crore
Rs. 25 lakhsRs. 1 crore
Rs. 1 lakhRs. 50 lakhs
Minimum Annual PremiumRs. 3,000
Maximum Annual PremiumAs per the Base Sum Assured chosen, subject to underwriting

Benefit Payout Option

The aforesaid benefit will be paid out to the Nominee, depending on the Benefit Payout option chosen at the inception of the policy:

Benefit Payout OptionsIn case of death, following benefits payable to Beneficiary
Option 1: Lumpsum
Option 2: Level Monthly Income Death Sum Assured will be payable as ‘Lump Sum’ immediately on death. Death Sum Assured will be equal to Base Sum Assured
Option 3: Increasing Monthly IncomeUnder this option, Base Sum Assured would become payable in monthly instalments over a period from 5 to 15 years as chosen by the policyholder. Initial Monthly Income would be calculated as: Increasing Monthly Income Factor x Base Sum Assured. Monthly instalment would increase by 10% per annum at simple interest at the end of each completed year.

Plan Options Offered by DHFL Pramerica Flexi e-Term Plan

DHFL Pramerica Flexi e-Term Plan has 5 plan options viz Option 1: Life Cover, Option 2: Life Cover + Terminal Illness, Option 3: Life Cover + Terminal Illness + Accidental Death Benefit, Option 4: Life Cover + Terminal Illness + Critical Illness, Option 5: Life Cover + Terminal Illness + Critical Illness + Accidental Death Benefit

Other Details of plan of DHFL Pramerica Flexi e-Term Plan

The various covers offered under this plan can be summarized as under:

Life CoverLife BoostLife Smart Step UpLife Health HikeLife Total
Life BoostYesYesYesYesYes
Terminal IllnessNoYesYesYesYes
Accidental Death CoverNoNoYesNoYes
Critical IllnessNoNoNoYesYes

Documents Required for DHFL Pramerica Flexi e-Term Plan

During Application

  • Proof of address, identity and age – Aadhaar Card, PAN Card, Driving License, Voter ID, School Leaving Certificates are some accepted proofs
  • Income Proof – Payslips as proof of being gainfully employed by your current organization
  • Passport size photographs

During Claim Settlement

Following documents are required along with the filled forms:

  • Original policy document of DHFL Pramerica Flexi e-Term Plan
  • Death Certificate issued by Municipal authorities
  • Copy of bank passbook/ Cancelled cheque
  • Hospital bills, receipts, medical diagnostic tests and other treatment records
  • Post-mortem and chemical viscera report (if performed)
  • Physician's statement
  • Photo identification and address proof of the claimant

In case of unnatural death/accidental death:

  • Police reports (FIR, Panchnama, police investigation report)

Exclusions - DHFL Pramerica Flexi e-Term Plan

The exclusion of DHFL Pramerica Flexi e-Term Plan are:

In case of death due to suicide committed within 12 months from the start of the policy cover, irrespective of whether he/she was sane or insane at the time, the insurer refunds 80% of the premiums paid to the beneficiary.

Review of DHFL Pramerica Flexi e-Term Plan

DHFL Pramerica Flexi e-Term Plan is one of most popular term plans from the insurer. It is a customized term insurance plan as per your family’s future financial needs. It ensures & safeguard you with a life cover, an accidental death benefit, terminal and critical illness options. At the same time, it provides an option to increase (Enhance/ Add a Booster to) your life cover with changing life stages and protection needs.

FAQs on DHFL Pramerica Flexi e Term Plan

How long does DPLI Limited take to settle a claim?

The maximum settlement timeline taken by DPLI Limited to settle a claim depends on the type of claim raised by the policyholder. The settlement process usually takes more time when the policyholder does not submit all the required documents.

Is there a loan facility offered against DHFL Pramerica e-Flexi Plan?

No, loan facility is not available against DHFL Pramerica e-Flexi Plan.

How is the claim settlement amount paid against DHFL Pramerica e–Flexi Plan?

As soon as the decision related to claim settlement is taken by the insurance company, the decision will be communicated in the form of letter to the registered address. This is followed by the insurance company transferring the claim settlement amount electronically through NEFT.

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