DHFL Pramerica E save plan
DHFL Pramerica E save plan is A life insurance plan which offers guaranteed returns on regular premium payment. This is a plan which doesn’t participate neither in the share market or the company’s profit.
Type of plan : Endowment Non participating
Returns : Fully Guaranteed
Tenure : Long term (Premium payment term = Policy term)
Premium mode : Regular premium (10,15 and 20 years)
DHFL Pramerica E save plan Review
DHFL Pramerica E save plan ensures a guaranteed maturity benefit at maturity. This is an Traditional Endowment Non participating plan. All the returns printed in the policy document is completely guaranteed. So you will know what exactly you will get on maturity. Since this is a guaranteed product, we need to wait till the maturity of the plan to enjoy the full benefits and each. Every benefit under this plan is exempted from income tax. This is one among the best endowment product in terms of investment net returns. This plan can be bought online only. The policy gives the best return in 20 year policy term. So it is advisable to go for the maximum term option under this plan. The returns of fixed deposit and other Bond schemes may go down in future, in that case this plan will be giving you the same rate of return as on today.
What You Pay and What You get
Example : Arun is 30 year old. He buys DHFL Pramerica E save plan with a regular premium of Rs.100000(Tax extra) with premium paying term and policy term as 20 years. His policy benefits are:
1. Guaranteed Maturity Benefit of 37 Lakh in 20th policy year.
2. Guaranteed Death Benefit of Rs.1526718+Guaranteed Additions (if any) during the policy term.
TOTAL PREMIUM PAID : Rs. 2000000*
TOTAL BENEFIT RECEIVABLE : Rs.3700000*
Since this is an Non participating policy there is no Bonus payable for this plans.
What happens if you discontinue your premiums?
You have to pay at-least a Minimum of 2 years in this plan to enjoy minimum Benefits.
IF Less than 2 years premium paid : 15% of the premium will be refunded after 2 years from non payment of premium.
IF Minimum 2 Years Paid : Policy Becomes Paid up.On survival to Maturity after the Policy has become paid-up, the Company will pay Paid-up Sum Assured, plus Annual Guaranteed Additions accrued before paid-up
IF Minimum of 5 years Premium : On survival to Maturity after the Policy has become paid-up, the Company will pay Paid-up Sum Assured, plus Annual Guaranteed Additions accrued before paid-up, plus Reduced Annual Guaranteed Additions accrued after paid-up, if any
Loans : Loan will be available after the Policy acquires Surrender Value. Up to 80% of the Surrender Value can be taken as loan.
Partial Withdrawal : Not possible
You cannot have withdrawals before maturity in this plan. If you want funds before maturity you have to take loan or surrender the policy.
If You want to surrender the policy
This is an regular premium policy with premium commitment for 20 years. Hence the surrender charges will be high during the initial policy years. The surrender value is calculated on a percentage of the premiums paid. The surrender charges are as follows
DHFL Pramerica E save plan is a traditional plan, the surrender benefits of this plan will be mostly lesser than the premium paid.Waytoinsurance.com suggests not to surrender this plan in-between to avoid loss.
For more details on this plan please go through the Product brochure
Premium Calculator For DHFL Pramerica E save plan – CLICK HERE
This post on DHFL Pramerica E save plan is just a review of what the plan offers to the customers. We aim at educating ins and outs of this plan. We are trying to simplify the product and make it easy to understand. The Returns provided in this post are for Illustrative purpose only. The waytoinsurance score is given by our own metrics of calculation and are no way related to the performance of this plan. All these details are derived from the below link. We are aiming at providing financial literacy for the common man. We are just educating the people about this plan. The final decision to buy this plan is in your hands. We are not responsible for any individual decisions on this plan.We are not in support or against any insurance company or its products. Our main vision is to educate customers in deciding the best option available in the market.