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DHFL Pramerica Life Insurance Child Plans - Features and Benefits

Updated On Apr 21, 2021

Child Insurance plan can be in the way of a traditional plan which is a long-term plan where premium is payable for a longer or limited period. Upon maturity of the plan, a predetermined fixed amount is payable to the child. In case of demise of the life assured, the child gets the death benefits immediately and the policy continues till maturity because of the premium waiver feature. Another type of child insurance plan includes ULIPs. 

DHFL Pramerica Life Insurance Child Plans - Features and Benefits

Following are the child plans offered by dhfl pramerica along with their features and benefits- 

1. Pramerica Life Future Secure Plan

The following are the features and benefits provided by Pramerica Life Future Secure Plan:

  • Increasing additions are guaranteed annually in terms of percentage of annualised premiums paid. This percentage depends on the premium band. 
  • There are mainly 3 options for premium payment and 5 options for policy terms to choose from.
  • For a more comprehensive coverage plan, there is an option of income benefit with payment of additional premium. 
  • On premium payment as per existing tax laws.
  • On survival till the maturity date, the life assured gets base sum assured along with guaranteed additions. 
  • In case of unfortunate demise of policy holder, a lump sum amount equal to death sum assured plus guaranteed additions is paid to the nominee. 
  • After the policy acquires the Surrender value, the policy holder is eligible for loan equal to a maximum of 75% of Surrender value

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2. Pramerica Life Future Idols Gold+

The following are the features and benefits of Pramerica Life Future Idols Gold+ - 

  • Provides comprehensive protection in case of demise of life assured immediately and in future.
  • Provides other bonuses like reversionary, interim and final bonuses. 
  • Maturity benefits are received at the end of term of policy that is equivalent to 125% of base sum assured. Moreover, accrued reversionary bonus and final bonus are added to that.
  • Bonus addition with annually declared compounded reversionary bonus. 
  • Flexibility in premium payment options like regular PPT or limited term. 

3. Pramerica Life Rakshak +

The main features and benefits of Pramerica Life Rakshak + are as follows- 

  • Guaranteed death benefit with instant pay-out, monthly pay-out and final benefit pay-out payable at maturity. 
  • Guaranteed maturity benefit that provides lump sum benefit equal to the product of Base sum Assured and Guaranteed Maturity Multiple (GMM).
  • Annual Guaranteed Addition which increases after every 3 years.
  • Tax benefits on premium payment.

4. Pramerica Life Rakshak Gold

The features and benefits of Pramerica Life Rakshak Gold are as under- 

  • Guaranteed Maturity Benefit that provides substantial funds for the future financial need of the child. 
  • Death Benefits that include immediate benefit, monthly payout . 
  • Options for limited period of premium payment i.e 7 years or 10 years
  • Annual Guaranteed Additions which increases after every 3 years.
  • Tax benefits on premium payment as per tax laws. 
  • Loan availability based on Surrender Value.

5. Pramerica Life Smart Fee Protect

The main features and benefits ensured by Pramerica Life Smart Fee Protect are as follows- 

  • In case of demise of life assured, increasing monthly income with guaranteed additions along with base sum assured is paid at maturity.
  • On maturity, the policyholder gets the amount equal to the sum total of Base sum assured and Guaranteed Additions.
  • Optional Riders namely Pramerica Life Traditional Accidental Death Benefit Rider and
  • Pramerica Life Traditional Critical Illness Rider.
  • Annual guaranteed additions on the premiums to enhance income. 
  • Tax benefit as per laws
  • Loan Availability where the loan amount is based on Surrender value of the policy. 

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