DLF Pramerica Life Insurance launches ‘Aajeevan Samriddhi’

India Infoline News Service | Mumbai |

The plan provides life cover till the age of 99 years with premium required to be paid only for a limited tenure.

DLF Pramerica Life Insurance Co. Ltd. (DPLI) has launched ‘Aajeevan Samriddhi’, a participating whole life insurance cum savings plan that helps customers protect the financial security of their families through their life time. The plan provides life cover till the age of 99 years with premium required to be paid only for a limited tenure.

Aajeevan Samriddhi also doubles up as a smart savings tool to help customers plan for the golden years of their retirement. The survival benefit payout of compounded reversionary bonus and Guaranteed Additions at age 65 ensures that customers have a corpus to help take care of post retirement expenses, and maintain their existing lifestyle.

Key Product Features:
  • Survival Benefit: This benefit will be paid when the life insured is 65 years old
  • Accrued Reversionary Bonuses
  • Accrued Guaranteed Additions
  • Maturity Benefit: The benefit will be paid at the end of the policy term, when the life insured is 99 years old (As on last birthday)
  • Basic Sum Assured
  • Final Bonus, if any
  • Bonuses: This policy has a compounded reversionary bonus declared annually. This will accrue from the sixth policy year till the life insured is 65 years of age. In addition to this, Interim and Final Bonuses may also be declared. The bonuses are not guaranteed and depend upon return on the relevant participating fund.
Announcing the launch, Pavan Dhamija, Managing Director and CEO, DPLI said, “With the rising cost of living, and increasing life spans, customers today are looking at long-term products that can address their dual need for retirement planning and continued financial protection. We are pleased to introduce a product like Aajeevan Samridhi that provides customers the dual benefit of Whole Life Protection till age 99 with a retirement payout at age 65. In case the customer survives the policy term, there is a maturity payout at 99 years.”
 
The policy holder of Aajeevan Samridhi will be eligible for guaranteed additions for each completed policy year for the initial five years of the policy. The final one-time bonus will be paid on the termination of the policy in case of death, surrender or maturity, as applicable. The policyholder would be eligible to participate in the profits arising from the portfolio of such policies.
 

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