VR Logo

DLF Pramerica Family First

Objective

This is a pure term plan that pays a lump sum as well as a regular monthly amount to the nominees, in the event of death of the insured.


What does it do?

The death benefit will be paid in two parts- a lump sum which is 20 times the monthly benefit will be paid on death, and a regular monthly payout as selected by the policyholder. The monthly payout is guaranteed for a minimum of 48 months, even if the policyholder dies in last four years of the policy.
The policyholder can decide the monthly benefit that he expects his family would need in his absence.


Pros

This policy allows to reinstate a lapsed policy within three years from the date of lapse.
The lump sum benefit on death is helpful in managing immediate cash needs.
The choice of accident and critical illness rider expand the scope of coverage.
Premiums paid towards this policy qualify for tax deduction under Section 80C of IT Act.


Suited for

This policy is suitable for those who think that the dependants will not be able to  deftly manage a lump sum amount and require a regular cash flow for sustenance.


Our View

A pure risk term plan is a definite buy for everyone.

Eligibility
Entry Age (years) 
Minimum18
Maximum50
Maximum Maturity Age (years)65
Policy Term (years) 
Minimum10
Maximum30
Sum Assured (Rs) 
MinimumMonthly income benefit of Rs 4000
MaximumNo Limit
Minimum Premium (Rs) 
Yearly2000
Quarterly500
Monthly200
Premium Payment FrequencyYearly, Half Yearly, Quarterly and Monthly
Premium Payment TermRegular, equal to policy tenure
Policy CoverCover remains fixed for the tenure of the policy
Other Features 
Free Look CancellationIn 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 PeriodYou 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 ReinstatementYou 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 BenefitsSection 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
ExclusionsIn 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 ValueThere is no surrender benefit in this plan
Customer Service 
AddressDLF Pramerica Life Insurance Company Limited, 4th Floor, Building 9B, Cyber City, DLF City Phase-III, Gurgaon - 122002
Mail To[email protected]
Call On1800-102-7070
SMS5607070
Available Rider(s)DLF Pramerica Traditional Accidental Death Benefit Rider: covers death due to an 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) 
Minimum18
Maximum55
Maximum Maturity Age (years)65
Rider Term (years) 
Minimum5
Maximum30
Sum Assured (Rs) 
Minimum50000
Maximum50 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
Annual Premium for Male
Policy Term (in Years)Age (in Years)
253035404550
104300492055806400942014580
1549205580636091001380021540
205580630083601226018760NA
25630075801046015540NANA
307260910012800NANANA
Figures indicate premiums to receive Rs 20,000 monthly benefit for an age over different policy tenures exclusive of service tax
Annual Premium for Female
Policy Term (in Years)Age (in Years)
253035404550
103960468053005980798012260
1546805300598078201160018020
205300598073001046015700NA
2559806900908013200NANA
306820820011040NANANA
Figures indicate premiums to receive Rs 20,000 monthly benefit for an age over different policy tenures exclusive of service tax