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DLF Pramerica Fee Protect Child Plan

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This plan has been withdrawn by the insurance company and is no longer available for sale.

DLF Pramerica Fee Protect Plan

DLF Pramerica Fee Protect 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 happens to the parent.

In this plan if the Life Insured, i.e. the parent dies within the policy tenure, no further premiums need to be paid and the child would receive Monthly Payouts every month till the end of policy tenure which increases every year from the second year. However, if the Life Insured lives throughout the policy term, then nothing is payable. The life cover continues till the end of the policy term, even after the premium paying term ends.

 

 

Key Features of DLF Pramerica Fee Protect Plan

  • There is Monthly Payout till the end of the Policy Term to take care of School Fees in case of demise of the Life Insured
  • The Monthly Payout increases by 5% every year to from second policy year to combat the rise in cost of education
  • Life Coverage continues even after premium paying term till end of Policy Tenure
  • The child is mandatorily made the nominee in this plan

         
COMPARE THIS PLAN WITH OTHER CHILD PLANS


Benefits you get from DLF Pramerica Fee Protect Plan

Death Benefit – In case of death of the parent, i.e. the Life Insured, the child would receive Monthly Payout till the end of the Policy Term to take care of School Fees which increases by 5% every year to from second policy year to combat the rise in cost of education.

Maturity Benefit – There is no maturity benefit as this is a pure protection plan.

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 and other restrictions in DLF Pramerica Fee Protect Plan

 

Minimum

Maximum

Monthly Payout (in Rs.)

Rs 1000

No Limit

Policy Term (in years)

5 years

15 years

Premium Payment Term (in years)

According to the table

Entry Age of Policyholder

18 years

55 years

Age at Maturity

-

65 years

Single Premium (in Rs.)

NA

NA

Payment modes

Yearly, Half-Yearly, Quarterly and Monthly

 

Sample illustration of premium amount in DLF Pramerica Fee Protect Plan

Policy Term = 15 years

Premium Paying Term = 10 years

Monthly Payout= Rs 3,000

DLF Pramerica Fee Protect Child Plan Sample Premium Vales

 

Additional Features and Benefits of DLF Pramerica Fee Protect Plan

Riders –There are no additional riders available in this policy. There is only 1 in built rider- Premium Waiver Benefit rider.

                                     

What happens if?

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 – There is no Surrender Benefit available

You want a loan against your policy - There is no loan available under this plan.




 

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