DLF Pramerica Future Idols Gold Plan
DLF Pramerica Future Idols Gold Plan is a Traditional Child Plan where the parent is the Life Insured but the plan is for the benefit of the child. This plan does not cover the life of a child but it is meant for the security of the child’s future even if anything like death or total and permanent disability happens to the parent.
In this plan if the Life Insured, i.e. the parent dies or meets with total and permanent disability within the policy tenure, no further premiums need to be paid and the child would receive 50% of the Sum Assured for immediate expenses + 1.5% of the Sum Assured as Monthly Payouts every month till the end of policy tenure to pay for expenses like school fees, etc. + the entire Sum Assured is again paid on maturity. However, if the Life Insured lives throughout the policy term, then also the Sum Assured is paid on maturity.
Key Features of DLF Pramerica Future Idols Gold Plan
- This plan takes care of the child in case of death or disability of the parent
- There is double death benefit as 50% of the sum assured along with additions is paid immediately + monthly payouts are given till end of policy term and again the Sum Assured is paid as Maturity Benefit
- This plan provides for Annual Guaranteed Additions of Rs 35 per thousand Sum Assured
- This plan also provides for Annual Regular Additions which is declared each year and added thereafter
- There are 2 riders available along with this plan
Benefits you get from DLF Pramerica Future Idols Gold Plan
Death/Disability Benefit – In case of death of the parent, i.e. the Life Insured, the child would receive:
- 50% of the Sum Assured for immediate expenses along with additions +
- 1.5% of the Sum Assured as Monthly Payouts every month till the end of policy tenure to pay for expenses like school fees, etc. +
- The entire Sum Assured is again paid on maturity.
Maturity Benefit – The entire Sum Assured is paid as Maturity Benefit.
Income Tax Benefit - Life Insurance premiums paid up to Rs. 1,00,000 are allowed as a deduction from the taxable income each year under section 80C
Eligibility conditions in DLF Pramerica Future Idols Gold Plan
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Minimum
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Maximum
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Sum Assured (in Rs.)
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Rs 50,000
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Rs 2,00,00,000
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Policy Term (in years)
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10 years
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25 years
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Premium Payment Term (in years)
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Same as Policy Term
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Entry Age of Policyholder
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18 years
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60 years
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Age at Maturity
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28 years
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70 years
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Single Premium (in Rs.)
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NA
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NA
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Payment modes
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Yearly, Half-Yearly, Quarterly and Monthly
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Sample illustration of premium amount in DLF Pramerica Future Idols Gold Plan
Policy Term = 20 years
Premium Paying Term = 20 years
Sum Assured = Rs 1,50,000
Additional Features and Benefits of DLF Pramerica Future Idols Gold Plan
Riders –There are 2 additional riders available in this policy.
· Accidental Death Benefit rider
· Critical Illness Benefit rider
You stop paying the premium - If the policy holder stops paying the premium, the insurance cover will cease and the policy will lapse. However it can be revived within 3 years from the first unpaid premium.
You want to surrender the policy – The policy can be surrendered any time after 2 policy years
Guaranteed Surrender Value = 30% of all premiums paid till date – 1st years’ premiums
You want a loan against your policy – Loan can be availed after 3 policy years, upto 90% of Surrender Value.
Alternate child plans from different insurance companies
DLF Pramerica FeeProtect
DLF Pramerica FeeProtect +
DLF Pramerica Rakshak
To get the best child plan compare with other offerings from insurance companies.
