• Term Life
  • Investment

DHFL Pramerica TruShield Term Insurance

DHFL Pramerica TruShield Term Plan is a non-participating non-linked term life insurance plan. The purpose of this plan is to provide protection in the form of financial security in case something happens to the policyholder in the near future. The plan provides pure life insurance cover along with return of premium on maturity.

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

Features of DHFL Pramerica TruShield Term Insurance

Mentioned below are the features of DHFL Pramerica TruShield Term Insurance:

  • Enhanced Protection: Provides life insurance cover along with additional shield cover in case of demise of the policyholder.
  • Option to pay premiums - Single Pay, Regular Pay or Lump Sum
  • Flexibility to select death benefit option - Level Cover or Reducing Cover.
  • You will be entitled to return all the premiums paid (excluding extra premium, if any), upon survival till completion of Policy Term.
  • You will be entitled to tax benefits as per Section 80C and Section 10(10D) of the Income Tax Act, 1961.

Benefits of DHFL Pramerica TruShield Term Insurance

Mentioned below are the benefits of DHFL Pramerica TruShield Term Insurance:

Death Benefit - In case of death of the policyholder within the policy term, the insurer will pay Death Sum Assured in lump sum to the mentioned Nominee/Beneficiary/Dependent.

Additional Shield Cover - This is the death benefit payable in addition to the Death Sum Assured after Premium Payment Term is over and complete premiums payable under the policy has been paid.

Death Sum Assured for Limited or Regular Pay Option - The amount will be a highest of:

  1. 10 times of Annualized Premium or

  2. Maturity Sum Assured; or

  3. Absolute amount assured to be payable on death which is equal to Base Sum Assured (Option-A Level Cover option) or Reducing Sum Assured (Option-B Reducing Cover option), as applicable.

Note: Death Sum Assured shall be equal to 105% multiplied by all the premium paid# as on date of death.

Death Sum Assured for Single Pay Option - The amount will be a highest of:

  1. 125% of Single Premium in case Age at Entry is less than 45 years (110% of Single Premium in case Age at Entry is 45 years and above) or

  2. Maturity Sum Assured; or

  3. Absolute amount assured to be payable on death which is equal to Base Sum Assured (Option-A Level Cover option) or Reducing Sum Assured (Option-B Reducing Cover option), as applicable.

Note: Death Sum Assured shall at least be equal to 105% multiplied by all the premium paid# as on date of death.

Premiums Paid for this purpose is Premium exclusive of any underwriting extra, if any.

*The Annualized/Single Premium shall be the Premium payable in a Policy Year chosen by the Policyholder, excluding the underwriting extra Premiums and loadings for modal Premiums, if any.

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

Maturity Benefit - On survival of Life Insured to Maturity Date within policy term, the amount payable will be equal to Maturity Sum Assured, where Maturity Sum Assured is defined as below:

Premium Payment OptionMaturity Sum Assured
Limited Pay & Regular PayTotal Premium Payable under the policy (excluding any underwriting extra, if any)
SingleSingle Premium (excluding any underwriting extra, if any)

Eligibility Criteria for DHFL Pramerica TruShield Term Insurance

The eligibility details are as follows:

Eligibility Criteria
Age at Entry
Minimum: 18 Years
Maximum:
  • For Policy Term 7 Years: 50 Years
  • For Policy Term 10 Years: 55 Years
  • For Policy Term 12 Years: 50 Years
  • For Policy Term 15 Years: 50 Years
  • For Policy Term 20 Years: 45 Years
  • Maturity Age65 Years
    Policy Term7 years, 10 years, 12 years, 15 Years or 20 Years
    Premium Payment Term
    Policy Term Premium Payment Term
    7 years Regular Pay
    10 years Single Pay, 5 Pay or Regular Pay
    12 years Regular Pay
    15 years Single Pay, 7 Pay or 12 Pay
    20 Years Single Pay or 10 Pay
    Base Sum Assured
    Minimum: Rs. 5,00,000
    Maximum: Rs. 50 Crores, subject to underwriting as per Board approved underwriting policy
    Premium Payment ModeSingle, Annual and Monthly
    Minimum Annual Premium
    For Reducing BenefitFor Reducing Benefit
    Limited PayRs.6,395Rs.5,950
    Regular PayRs.13,420Rs.11,820
    Single PayRs.29,125Rs.26,280

    Note: Age as on last birthday

    • For 10 Policy term with Regular Pay option the Maximum Entry Age is 50 years.

    Premium Details

    Discount on Premium:

    Premium Payment TermDiscount Offered
    12%
    512.5%
    717.5%
    1025%
    1235%

    For policies purchased online:

    Limited Pay Option2.75%
    Regular Pay Option3.60%
    Single Pay Option1.00%

    Other details of DHFL Pramerica TruShield Term Insurance

    • This policy comes with a grace period of 30 days.

    • You can surrender the policy post premium payment of three consecutive years for a 10 years Premium Paying Term.

    • You can revive the policy within two years of the first unpaid premium.

    • You are granted a free-look period of 15 days from the commencement of the policy.

    Documents required for DHFL Pramerica TruShield Term Insurance

    A proposer will have to submit their relevant KYC details - ID and Address Proof along with the Application/Proposal Form online. Medical check-ups/report will be required in some cases, based on the sum assured and the age of the policyholder.

    Exclusions of DHFL Pramerica TruShield Term Insurance

    If death occurs due to suicide, whether sane or insane, within twelve months of the date of commencement of risk or within twelve months from the date of revival of the Policy, then the insurer will pay an amount equal to higher of 80% of total Premium paid (excluding underwriting extra, if any), or Surrender Value as on date of death, if any.

    Review of DHFL Pramerica TruShield Term Insurance

    With the DHFL Pramerica TruShield Term Insurance, your entire family is protected in times of your absence. DHFL Pramerica provides superior quality services along with a vast portfolio of insurance products. DHFL Pramerica has also won several awards such as Most Popular and Best Website of the Year 2016 in the Insurance Category.

    FAQs On Dhfl Pramerica Trushield Term Plan

    Who can buy DHFL Pramerica TruShield Term Insurance?

    It can be purchased by any individual between the ages of 18-45 years.

    What is the sum assured in DHFL Pramerica TruShield Insurance?

    The minimum sum assured is ₹5 lakhs while the maximum sum assured is ₹50 crores.

    Can I avail a loan against this policy?

    No, DHFL Pramerica TruShield does not come with a loan against policy facility.

    Are there any riders available in DHFL Pramerica TruShield?

    No, there are no riders available in DHFL Pramerica TruShield Term Insurance.

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