DHFL Pramerica Family Income Plan
DHFL Pramerica Family Income Plan is a decreasing term plan offered by DHFL Pramerica Life Insurance wherein the death benefit may either be payable in a lumpsum to the nominee or in equal monthly installments till the end of the policy tenure.
Thus, in this plan, the sum assured decreases with time. And if the Life Insured dies within the policy tenure, the death benefit is paid to the nominee but the policy does not terminate immediately.
Decreasing term plan with reducing sum assured
Pure Term Plan with only death benefit and no maturity benefit
There are 2 options for choosing Death Benefit in this plan, i.e. if the life insured dies within the policy tenure:
Lump Sum Benefit
Monthly Income Benefit
In case of death of life insured within the last 3 years as well, there is a 36 months Guaranteed Monthly Income available with this plan
There are 2 additional riders available with this plan
Details About Premium
Annual premium in Rupees, exclusive of tax
Policy Term: 25 Years
Grace Period: 15 days grace period is allowed for payment of premium under monthly mode and 30 days for other modes. If policyholder fails to make payment within the grace period, the policy lapses
Policy Termination or Surrender Benefit: There are no surrender or termination benefits available in this plan as this is a pure term plan
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.
The benefit paid in case of suicide within 12 months of policy inception is the fund value as on that date