DHFL Pramerica Life Insurance

DHFL Pramerica Life Insurance is recognized as one of India’s premier life insurance providers and headquartered in Gurugram, India. The company was established as an amalgamation between the Dewan Housing Finance Corporation Ltd or DHFL and Prudential International Insurance Holdings Ltd (PIIHL). It has a customer base of nearly 3 million people and a network of 67 branches, with more than 2000 employees, spread across the country. The company received its approval from the IRDAI, to sell insurance, in July 2008 and it had launched its first product next month. Over the next six years, the company thrived and reached a benchmark of more than one million people insured in August 2014.

Eligibility Criteria for DHFL Pramerica Life Insurance:

a. Minimum age must be at least 18 years old.

b. Maximum age should be less than 70 years old.

c. Either the applicant should be salaried employees, professionals, and self-employed people.

Documentation required to apply for the DHFL Pramerica Life Insurance

1. Identity Proof

2. Age

3. Proof of Income

4. Residence Proof

5. PAN Number

Protection Plans of DHFL Pramerica

Plans	Basic Amount Assured	Features	Tenure of Plan
1.DHFL Pramerica Family First	20 times monthly income	Death Benefits and riders can be added	10 to 30 yrs
2.DHFL Pramerica Family Income	Depends on the premium amount	Provides monthly income to families.   Riders can be added to enhance the coverage.	5 to 30 years
3.DHFL Pramerica U-Protect	Rs.25,00,000	Provides insurance at an affordable rate.   Low-premium benefits to non-smokers.	10 to 30 years
4.DHFL Pramerica TruShield	Rs.5,00,000	a.Additional shield cover as life cover. b.Choice of death benefit covers.	10/15/20 years

Child Progress Plans of DHFL Pramerica

Type of Plan	Basic Sum Assured	Tenure
1.DHFL Pramerica Future Idols Gold+	Rs.1.50 Lakh	15/20 and 25 years
2.DHFL Pramerica Rakshak+	Rs.1 Lakh	10/15 and 20 years
3.DHFL Pramerica Rakshak Gold	Rs.1 Lakh	12 and 18 years
4.DHFL Pramerica Smart Fee Protect	Rs.1.68 Lakh	10 and 15 years

Savings Plans of DHFL Pramerica

Plans	Basic Amount Assured	Features	Tenure
a.DHFL Pramerica Flexi Cash	15 year term- Rs.1,70,000 25 and 35 year terms- Rs.2 Lakh	Guaranteed loyalty benefits. Preponing maturity benefits. Limited pay options.	15, 25 and 35 yrs
b.DHFL Pramerica Roz Sanchay	16-year term- Rs.1 Lakh 21-year term- Rs.21K	Guaranteed Endowment Plan Death Benefit: 150% of the Basic Sum Assured.	16 and 21 years
c.DHFL Pramerica Aajeevan Samriddhi	Rs.75K	Provide insurance cover till the age-99 years. Maturity benefits to cover after retirement.	99-entry age
d.DHFL Pramerica Sahaj Suraksha	Rs.1 Lakh	Provides insurance cover till age 75. Death benefits: Assured sum plus bonuses. Maturity benefits.	15 and 20 years
e.DHFL Pramerica Smart DHFL Pramerica Cash Protect	Rs.1.25 Lakh	Regular income to the policyholders through annual payouts. Limited payment options. Riders to enhance coverage. Maturity Benefits	12, 15 and 20 years
f.DHFL Pramerica Wealth+ ACE	Below 45 years	Unit-Linked Insurance Plan. Investment opportunities. Single premium policy.	1.25 times the single premium
g. DHFL Pramerica Wealth+ ACE   .Above 45 years	1.10 times single premium	Unit-Linked Insurance Plan. Investment opportunities. Single premium policy.
h.DHFL Pramerica Smart Wealth+	Depends on the premium payment term	ULIP with investment opportunities. Riders can be purchased to enhance coverage.	5, 10, 15 and 20 years
i.DHFL Pramerica Magnum Assure	Rs.48,000/ annum	Non-participating endowment plan. Provides a monthly income equal to that payout period.	10 and 15 years
j.DHFL Pramerica Premier Gain	Rs.3,50,000	Participating non-linked endowment plan.   Death Benefit: 10 times the annualized premium.	10, 15, 20 and 25 years
k.DHFL Pramerica Smart Assure	Regular premium pay: Rs.1 Lakh   Limited premium pay: Rs.75K	Non-participating endowment plan. Flexible payment options.	10, 15 and 20 years
l.DHFL Pramerica Smart Income	11 times the annualized premium	Non-participating guaranteed annual income. Flexible premium payment option.	7-20 years
m.DHFL Pramerica Smart Money Back	Rs.1,20,000	Participating Flexible policy terms.	16 and 20 years
n.DHFL Pramerica eSave	Depends on the entry age, premium & policy term	Non-participating endowment plans. Additional maturity benefits.	10, 15 and 20 years

Group Plans of DHFL Pramerica

With this plan, the employers offer the insurance cover to the employees at an affordable rate and tax benefits. These plans provide a safety net to the individuals and groups who are under the ambit and aid them in saving wisely.

Plans	Basic Amount Assured	Tenure
1.DHFL Pramerica Group Credit Life Plus	Rs.10,000/member	2 yrs
2.DHFL Pramerica Group Term Plan	Rs.1,000/member	Yearly renewal
3.DHFL Pramerica Group Term Care	Rs.5,000/ member	2 yrs
4.DHFL Pramerica Sarv Suraksha	Rs.5,000/ member	Yearly renewal

Claim Settlement Process:

The policyholders of DHFL Pramerica Life Insurance can also file a claim through the online claim intimation process. The process is fast and reliable, with the following three steps:
Step 1

• The policyholder can intimate the company regarding the claim either online or by submitting a written request at any of the branches or by calling the toll-free number.
• The policyholder needs to provide the following details:
  • Policy number
  • Name of the policyholder.
  • Name of the nominee.
  • Date of critical illness or death.
  • Address and the contact number of the person who is intimating the claim.

Step-2

• The policyholder should submit the documents along with the claim form depending on the filed claim type(illness/death).
• The documents and the claim form should be submitted either at any of the DHFL Pramerica office branches or the head office.

Step-3

• The claim would be processed, only if the provided documentation will be verified. If any additional documentation were required, the same would be requested by the branch and the processing will be completed only after receipt of the documents.
• Within 30 days of the retrieval of documentation, the decision on the claim (accept/repudiate) will be communicated with the claimant.
• The policyholders who want to appeal for the repudiated claims can do it by writing to the company.
• For the accepted applications, the settlement amount will be determined and sent to the claimant through NEFT mode.

Documents Required for Buying The DHFL Pramerica Life Insurance

Following are the documents required to apply for DHFL Pramerica Life Insurance policy:

• Passport size photograph.
• Identity Proof:  Following are the documents needed to be submitted towards proof of identity:
  • Passport
  • PAN card
  • Voter’s identity card
  • Driving license.
• Job card issued by the NREGA, signed by a State Government officer and Aadhaar card.
• Residence Proof: Any of the given documents are to be submitted as proof of residency:
  • Bank account or the post office account statement.
  • Property tax or the local tax receipt.
  • Utility bills (electricity, gas, telephone), not older than two months.
  • Letter of allotment or accommodation from the State or Central government, financial institutions or the listed companies.
  • Rent agreement

FAQs for DHFL Pramerica Life Insurance

Q1. How can I check the policy status?
Ans: One can check the policy status online by generating the login id and password to the personal account on the website of  DHFL Pramerica Life Insurance. Click on the 'Policy Details' tab, to check the status.

Q2. What are the available options of payment for paying the premium?
Ans: The following are the modes for payment, available for DHFL Pramerica Life Insurance:

• Online or NEFT transfer
• Through ECS
• Through Cash or cheque at the selected branch office.
• At the SBI branches
• At the Axis branches

The policyholder can also pay through the customer helpline options, which allows transferring money through the mobile or by the credit card.
Toll-free number: 1800-102-7070 (Monday-Saturday, 9 a.m-7 p.m)

Q3. How can I renew the insurance policy with DHFL Pramerica Life Insurance?
Ans: For renewing the policy under DHFL Pramerica Life Insurance, there are two basic options:

• Pay online
• Cheque pick up facility
  Use the user id and password and enter the policy number for renewing it. Online payment options through the debit card, credit card, and Net banking are available on the site.