DLF Pramerica U Protect

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DLF Pramerica U Protect


	Objective		This is a pure term plan that pays sum assured to nominees upon unfortunate demise of the insured.

What does it do?		This is a pure risk term insurance plan with two optional riders- accident death benefit and critical illness. It neither provides any maturity benefit nor allows to surrender.

Pros		Lower premium for women policyholders, non-smokers and those with healthy lifestyle. Available riders can enhance the scope of the cover. The policyholder can maximize deductions under section 80C and 80DD.

Cons		There is no monthly or quarterly premium payment mode available with this policy. The minimum sum assured of Rs 25 lakh may be a deterrent for some.

Suited for		Those who cannot manage without intermediaries and prefer traditional channels to buy insurance can take this policy.

Our View		A pure risk term plan is a definite buy for everyone. You need to check if your needs such as policy term, sum assured, premium payment options matches with those offered by the policy. You may take an online policy if you are young and can manage online purchases. An online policy is cheaper as compared to offline plans.


	Eligibility

Entry Age (years)

Minimum		18

Maximum		55

Maximum Maturity Age (years)		65

Policy Term (years)

Minimum		10

Maximum		30

Sum Assured (Rs)

Minimum		2500000

Maximum		No Limit

Minimum Premium (Rs)

Yearly		4000

Premium Payment Frequency		Yearly and Half Yearly

Premium Payment Term		Regular, equal to policy tenure

Policy Cover		Cover remains fixed for the tenure of the policy

Other Features

Free Look Cancellation		In case, you are not satisfied, you may choose to cancel the policy within 15 days of receiving the policy documents. Upon such cancellation, you will be paid back the premiums, minus the cost of stamp duty, medical reports and proportionate premium for the period for which the risk was covered

Grace Period		You are allowed to pay premiums within 30 days from the due date. If a due premium is not received within the grace period of 30 days, your policy will lapse and the life insurance cover, including the rider cover, if any, will be terminated

Lapsed Policy Reinstatement		You can reinstate your lapsed policy any time (within 3 years from the due date of the first unpaid premium) by paying all the due premiums and undergoing underwriting requirements, if any

Tax Benefits		Section 80C and Section 10 (10D) of the Income Tax Act, 1961 would apply. . Premiums paid for Critical Illness Rider may qualify for deduction under Section 80D of the Income Tax Act, 1961

Exclusions		In case of death by suicide during the first policy year, or within one year from the date of reinstatement, no death benefit is payable

Surrender Value		There is no surrender benefit in this plan

Customer Service

Address		DLF Pramerica Life Insurance Company Limited, 4th Floor, Building 9B, Cyber City, DLF City Phase-III, Gurgaon - 122002

Mail To		contactus@dlfpramericalife.com

Call On		1800-102-7070

SMS		5607070

Additions to the Plan

Available Rider(s)		DLF Pramerica Traditional Accidental Death Benefit Rider: covers death due to accident. DLF Pramerica Traditional Critical illness Rider: The 10 critical illnesses are Aorta Surgery, Blindness, Cancer, Coronary Artery Bypass Surgery, Heart Attack, Heart Valve Surgery, Kidney Failure, Major Organ Transplant, Paralysis And Stroke. There is a survival period of 30 years to claim the benefit.

Rider Conditions

Entry Age (years)

Minimum		18

Maximum		55

Maximum Maturity Age (years)		65

Rider Term (years)

Minimum		10

Maximum		30

Sum Assured (Rs)

Minimum		50000

Maximum		50 lakh for ADDB Rider ; 25 lakh for Critical Illness rider

Rider Premium (Rs)		Rider premiums vary for each policyholder. For instance, if a 30-year old male opts for the ADB rider for Rs 5 lakh sum assured over a 10 year tenure; the annual ADB rider premium works to Rs 425

Happy Investing!!

We can help. Call 0 94 8300 8300 (India)

Leave your comment with mail ID and we will answer them

You can write back to us at PrajnaCapital [at] Gmail [dot] Com

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