Insurance Plans 944 views November 20, 2019

DHFL Pramerica Term Plan

The DHFL Pramerica Life Insurance Company has been selling some of the best term insurance plans in India for over a decade. The insurer has some very handy and useful plans on offer. In this article, we discuss the features and benefits of the term plans from this insurance company. Read on to know more.

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Benefits of buying the DHFL Pramerica Term Plan

Here are some benefits you get when you purchase the best term insurance plans in India from this insurer:

1. Financial coverage for your family

The main reason for getting the best term insurance policy in India is securing the financial wellbeing of the policyholder’s loved ones. When a person is a single earner in a family, his family members completely depend on him for their livelihood. From paying the rent to the bills to keeping up with their lifestyle requirements, the person works hard and earns an income to ensure everything functions smoothly. But if he dies suddenly, a great void is created and the other family members are literally left without any money. To prevent such a thing from happening, term insurance is bought. The term plan from DHFL Pramerica Life offer a sum assured with which the family can handle all its financial requirements after the policyholder dies.

2. Loan coverage

If the policyholder has a few loans such as a student loan or a home loan, he should look to get a good DHFL Pramerica term plan. If he dies without repaying the loan, his family will be burdened with the responsibility to clear the amount. This can be very taxing. To avoid this, a term insurance coverage equal to the loan amount should be taken to cover the debt.

3. Added benefits with riders

One of the main benefits you get with the DHFL Pramerica Life term plan is the option to add some great riders. Riders are add-on covers that you get at an added-cost. They help to enhance the scope of the term insurance policy. Here are two of the handiest term insurance riders from DHFL Pramerica Life Insurance:

4. DHFL Pramerica Traditional Accidental Death Benefit Rider

offers an additional sum assured if the policyholder’s death happens due to an accident.

5. DHFL Pramerica Traditional Critical Illness Rider

Offers compensation if the policyholder is diagnosed with any one of the listed critical illnesses such as stroke or paralysis.

6. Tax benefits

The premium you pay towards your DHFL Pramerica term insurance cover is tax-free. You get a discount of a maximum of Rs 1.5 lacs in a year. This is a very good and beneficial advantage of getting term insurance.

7. Easy buying options

The availability of the term insurance plans online has made it very easy for people to cover their lives. The plans can be bought instantly while sitting comfortably at home. You need not visit the insurance provider’s office. Also, the plan is directly bought from the insurer so it is a safe and inexpensive purchase. There is no brokerage fee involved. The processing fee is also lower. These are the reasons why the online term plan from DHFL Pramerica are popular and useful.

8. Multiple payout options

As a policyholder, you get numerous facilities from the insurance provider. You even get to choose how your family will receive the sum assured after you die. Choose between the lump sum benefit or the staggering benefit. In the former, the entire death benefit is paid in one go. In the latter, it is broken up into parts and paid over a stipulated period of time. Choose the option that would help your family.

These are some of the very best benefits you get when you opt for a term life insurance policy from DHFL Pramerica Life.

Buying DHFL Pramerica Term Plan

It is very easy to buy a DHFL Pramerica term plan. You can get the online term insurance plans with just the click of a few buttons. The company has a very good website and mobile app through which you can make the purchase with ease. The DHFL Pramerica term plan is varied in number. You should compare life insurance and see which plan suits you the best. Here are some of the types of term insurance plans offered by DHFL Pramerica Insurance Company:

  1. DHFL Pramerica Family First Term Plan
  2. DHFL Pramerica Family Income Term Plan
  3. DHFL Pramerica TruShield Term Plan
  4. DHFL Pramerica U-Protect Term Plan

All these term insurance plans are very good and offer extensive covers. You can get a very good life cover at some of the best prices when you choose a term insurance policy from DHFL Pramerica Life.

DHFL Pramerica Term Plan – FAQs What is the documentation process? 

Getting term insurance online is very simple. You just need to fill out the application form and submit it with ID proof, address proof and income proof.

Can I buy a joint DHFL Pramerica Life plan? 

Yes, you can jointly buy term insurance with your spouse.

Does a single person need term insurance? 

Term insurance is more suited for married people who have a family to care for. However, a single person who is looking to get married soon may benefit from a term insurance cover. As a single person, he will get the plan at a lower rate. He can plan it properly and buy the term cover for a longer duration and stay covered in the years to come when he has a family of his own.

In conclusion 

The term plan from DHFL Pramerica Life is very useful. Since they are affordable, many people buy term insurance from this company. You get a wholesome life cover and also get the option of adding riders if you so wish. The company has a term insurance claim settlement ratio of over 96%, making them a very reliable insurer to get associated with. So go online, explore the options and buy a good term insurance cover from the DHFL Pramerica Life Insurance Company.

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