For your small and big dreams.

Transcription

1 Visit to know more about us and our products. SW+SP/B-ENG/FEB/14/V3 For your small and big dreams. DHFL Pramerica DHFL Pramerica Life Insurance Company Limited (erstwhile DLF Pramerica Life Insurance Co. Ltd), Registered Office and Communication Address: 4th Floor, Building No. 9B, Cyber City, DLF City Phase III, Gurgaon Haryana. CIN: U66000DL2007PLC165153

2 Sales Brochure NOTE: IN THIS POLICY, THE INVESTMENT RISK IN THE INVESTMENT PORTFOLIO IS BORNE BY THE POLICYHOLDER. The right savings strategy. A complex matter? Joys of life come in all shapes and sizes. So is true for the smallest of wishes and the biggest of dreams that we have for our loved ones. It is but natural that we end up grappling with one question - whether to fall for the little day-to-day indulgences or to plan for the greater aspirations? Also, we are not always clear about the basics of saving or investing. In such a situation, choosing a plan to cover all our goals and dreams, big and small, can be complex and confusing. DHFL Pramerica A simple solution that removes all your apprehensions about planning for savings and investment in one go! It is a wealth-creation avenue that allows you to use any available lump sum amount in the best way possible just invest and forget! It lets you plan for the bigger things in life and to realize much more than what you have now. A simple way to create wealth Single-premium convenience is just the first advantage. Besides potentially higher returns and life insurance benefits, you have a variety of wealth creation options from conservative to aggressive investment profiles. Available for a tenure of 10 years and above, DHFL Pramerica Super Wealth+ Single Premium also comes with the advantage of allowing you to keep boosting your wealth creation goal with Top-Up Premiums at subsequent dates, should you so decide. It is quite simply the easy solution for a variety of small wishes and big dreams that you re saving and investing for. Invest one time and reap your benefits across your policy term Presenting Plan for the big things, and enjoy everything else too. It would seem as if there is but one choice to give up the small things in life and save for the big ones. In this situation, the wisest choice one can make is to choose a path that will allow you to do both. Now you can save up for your daughter s marriage and also buy a bike for your son! You can enjoy a holiday abroad with your family and at the same time, save up for a cottage tucked away in the hills. Flexibility to choose your Sum Assured from various options available Persistency Units: Our commitment towards your investment objective to be paid at the end of 10th policy year into your account Avail tax benefits on premiums paid under the Income Tax Act, 1961 as applicable How does the plan work? Choose the policy term between 10 years and above, upto 75 years age at entry Select the level of protection you want Pay the corresponding premium as a one time lump sum amount Top-Up any time during the policy term In case of unfortunate demise of the insured during the policy term, the policy will pay Sum Assured or value of Regular Premium Units, whichever is higher, plus value of Top-Up Units, if any, to the beneficiary. On maturity, you will receive the value of your fund, which will include the value of persistency units added during the tenure of the policy Benefits in Detail Benefit on Death In the event of death before your 60 th birthday: The policy would pay higher of the Sum Assured less partial withdrawals (if any) made from the Single Premium Fund Value during the last two years prior to the date of death, or Fund Value. Also, the value of the Top-Up Account, if any, will be paid. In the event of death on or after your 60 th birthday: The policy would pay higher of the Sum Assured less all partial withdrawals made from the Single Premium Fund Value, since the age of 58 years, or Fund Value. Also, the value of the Top-Up Account, if any, will be paid. Benefit on Maturity On maturity, the policyholder will get the Fund Value including the value pertaining to persistency units and Top-Up Units, if any. Surrender Benefit The policyholder can surrender the policy after completion of 3 policy years. The Surrender Value will be the Fund Value less surrender charges on Single Premium Unit Account. There is no surrender charge applicable on the Top-Up Unit Account. Benefit of Additional Protection with Riders You can make the proposition more comprehensive by adding additional benefits to your base plan. These plans offer additional benefits for specific events (covered by the Riders) and help further enhance the security of your family. DHFL Pramerica Unit Linked Critical Illness (CI) Rider This Rider provides protection cover in case the insured is diagnosed with/undergoes any of the 10 critical illnesses/conditions/surgeries namely Aorta Surgery, Blindness, Cancer, Coronary Artery Bypass Surgery, Heart Attack, Heart Valve Surgery, Kidney Failure, Major Organ Transplant, Paralysis and Stroke. If one were diagnosed with any of these specified illnesses, the critical illness benefit would be paid in lump sum subject to a survival period of 30 days. The base plan continues even after payment under this additional benefit. The maximum risk cover available is equal to the Base Sum Assured, subject to a maximum of `25 Lakhs.

3 DHFL Pramerica Unit Linked Accidental Death Benefit (ADB) Rider On death due to accident, the beneficiary gets an Additional Sum Assured under this benefit. It is available in addition to the Basic Death Benefit and in case of an eventuality, is paid out as a lump sum to take care of immediate needs. The maximum risk cover available is equal to the Base Sum Assured subject to a maximum of `50 lakhs. Persistency Units As our commitment towards your policy objective, the persistency units equal to 2.5% of average of previous 36 months Single Premium Fund Value will be added to the Unit Account, at the end of 10th policy anniversary. The following conditions shall apply: 1. The persistency unit will be allocated to the policies which are in force 2. The units pertaining to Top-Up Premium, if any, will not qualify for persistency units 3. If policy gets surrendered, then persistency units due after that date will not be paid Choice of Investment Funds We understand the value of your hard earned money and in our endeavour to help you grow your wealth, we offer you 4 fund options on commencement of the policy, the premiums would be invested in any or mix of all the funds. Fund Investment Objective Asset Allocation Risk Profile Debt Fund (SFIN: ULIF00127/08/08 FIXEDI FUND140) Balance Fund (SFIN: ULIF00227/08/08 BALANC FUND140) To generate steady return at lower risk by investing in a range of debt securities. To generate balanced return by investing in debt securities to provide stability and by investing in equities to provide potentially enhanced returns through capital appreciation. Illustration Age at Entry Gross Returns Accumulated Savings 6% p.a. `1,75,797 10% p.a. `3,11,985 Govt. Securities: 50% to 100% Corporate Bonds: 0% to 50% Equity: 10% to 50% Govt. Securities: 20% to 50% Corporate Bonds: 0% to 50% 30 years Single Premium Amount `100,000 Policy Term 15 years Sum Assured `110,000 Investment Fund Balance Low High Flexibility available in the plan Settlement Option at Maturity At maturity, the policyholders will have the option to leave the fund invested and then liquidate units any time within five years from the date of maturity or take periodic installments specified on the date of maturity. The minimum amount of such withdrawals will not be less than INR During this period, there will be no life cover. Hence, in the event of death during the settlement period, the Fund Value as on the date of intimation of death will be paid to the beneficiary. During the settlement period, only the policy administration charge and fund management charges will be deducted. Top-Up Premiums To boost your savings, you can pay additional premiums over and above your paid single premium These Top-Up Premiums are then invested in your chosen investment funds. Total Top-Up Payments at any time cannot be more than 25% of the total regular premium paid till that time. Top-Up Premiums will be allocated to a Top-Up Unit Account and the minimum Top-Up Premium is `5,000. Switching Option You can switch your investments within funds, depending on your financial priorities and investment decision. In any year 4 switches are available free of cost. The minimum switch amount is `5,000 unless 100% of the fund is switched. Partial Withdrawals We understand your need for liquidity, so we offer you the facility of partial withdrawals. Partial withdrawals, with respect to the base plan and Top-Up Account, shall only be allowed after five years from the date of commencement of the policy. The minimum withdrawal amount is INR 10,000. The remaining Fund Value after withdrawal should not fall below 50% of the Fund Value just before withdrawal subject to the condition that the Fund Value after withdrawal should not fall below 50% of the Single Premium. The first partial withdrawal in a year will be allowed free of cost and subsequent withdrawals will be charged a fee of `250. A total of 5 partial withdrawals will be allowed during the entire policy term. The partial withdrawal shall first be made from the tranches Top-Up Unit Account which is unlocked (i.e. lock in period of five years has expired). If value of these tranches in Top-Up Unit Account is lower than the amount being withdrawn, the balance can be withdrawn from the Single Premium Account (Base Plan Fund Value). As long as the partial withdrawal is made from the Top-Up Account, there will be no impact on the Sum Assured. Growth Fund (SFIN: ULIF00327/08/08 GROWTH FUND140) To generate higher return through capital appreciation in the long term by investing in diversified equities. Debt investment will provide a little stability and diversification. Equity: 40% to 80% Govt. Securities: 10% to 30% Corporate Bonds: 0% to 30% Very High Large Cap Equity Fund (SFIN: ULIF00427/08/08 LARCAP FUND140) To generate higher return through capital appreciation in long term from a portfolio invested predominantly in large cap equities. Equity: 60% to 100% Very High

4 Increase and Decrease in Sum Assured You can increase or decrease the Sum Assured within maximum and minimum limits after third policy anniversary provided you have paid all the premium/s due and would be subject to underwriting and other requirements of the Company. No increase in Sum Assured is available after 60 years of age. You will be required to give us an advance notice in writing and shall bear the medical costs if any. On reduction of Sum Assured, the risk cover for additional benefit may also reduce. Addition and Deletion of Riders If you have not opted for Additional Rider/s at issue, this option gives you the flexibility to add the Riders from any policy anniversary during the policy term subject to eligibility conditions for the Rider, underwriting and other requirements of the Company. Similarly, you have the choice to get an Additional Rider removed from the policy from any policy anniversary. The options are available provided you have paid all the due premiums. You will be required to give us an advance notice in writing and shall bear the medical costs, if any. Eligibility Age at Entry : Minimum - 18 years and Maximum - 65 years (without Critical Illness Rider) and 55 years (with Critical Illness Rider) Policy Term : Minimum: 10 years Maximum: 75 - age at entry Maturity Age : 75 years Minimum Premium : `45,000 for a 10 year term `1,00,000 for term higher than 10 years Sum Assured : Minimum is 1.1 times of the single premium subject to the condition that this cannot fall below `50,000 Maximum is five times of the single premium subject to underwriting List of charges applicable on the policy Premium Allocation Charge The premium will be allocated into the Unit Account as per the allocation charges mentioned below. Single Premium Size (in `) 45,000 to 59,999 60,000 to 99,999 1,00,000 to 2,49,999 2,50,000 to 4,49,999 > = 5,00,000 Allocation Charge Term = 10yrs 6.0% 4.0% 3.0% 1.5% NIL Allocation Charge Term > 10yrs 3.0% 1.5% NIL Premium Allocation Charge for Top-Up Premium: 1% This charge is levied at the time of receipt of premium and the balance of premium is utilised to purchase Units for the policy. Policy Administration Charge At beginning of each month, the Company will deduct the following amount per month from the policyholder s Unit Account by way of cancellation of Units. Policy Year Policy Administration Charges pm (as a % of single premium) Single Premium Amt. 1st year On first 60, % In excess of 60, % Single Premium Amt. 2nd year On first 60, % onwards In excess of 60, % Mortality Charge Mortality charge will apply on Sum At Risk (SAR = Sum Assured less value of Single Premium Unit Account). It will be deducted monthly by cancellation of Units from the Unit Account. Indicative charges per 1000 sum at risk for a healthy male are as follows: Age (yrs.) `( 000) Fund Management Charges (FMC) The Fund Management Charge would be adjusted in the Unit Price of each fund and will be levied on a daily basis. The charge is reviewable and hence subject to change with prior approval from IRDA. The following Fund Management Charges would be levied. Fund Detail FMC (% p.a.) Debt Fund 1.20% Balance Fund 1.35% Growth Fund 1.35% Dynamic Equity Fund 1.35% Surrender Charge In case of a surrender request after the 3rd policy anniversary and subsequent surrender, the following Surrender Charge would be applicable: Year in which contract surrendered Other Charges The first partial withdrawal in a year will be allowed free of cost and subsequent withdrawals will be charged a fee of `250. A total of 5 partial withdrawals will be allowed during the entire term Four switches in a policy year are free of cost and any subsequent switch in the year will be charged a fee of `250 The Company may charge a miscellaneous fee of `100 for alteration request in the policy The Company can charge extra for Riders if change in occupation results in higher risk for the Company Tax Benefits Surrender Charge (% of value of regular premium units) 4th year 2% 5th year 1% 6th year onwards 0% As per the current tax laws: Premiums qualify for deduction under Section 80C of the Income Tax Act, Maturity and withdrawal benefits are tax free under Section 10(10D) provided the Premium in any year during the term of the policy does not exceed 20% of the Sum Assured. Death Benefit is tax free under Section 10(10D) of the Income Tax Act, 1961 The above tax qualifications are subject to the income tax laws prevailing from time to time. For any further clarification, please consult your tax advisor. Exclusions No Death Benefit will be paid if death has occurred directly or indirectly as a result of suicide, within one year from the date of acceptance of risk or the date of any revival of this policy effected in the first 3 years. However, in such an event, we will refund the Fund Value of the policy and terminate the policy Please refer to Rider brochure for exclusions on Rider Benefit Free Look Cancellation You have a period of 15 days from the date of receipt of the Policy document to review the terms & conditions of this Policy. If you do not agree to the terms & conditions, you have the option to return the Policy stating the reasons thereof within this period. On receipt of your letter along with the policy documents, we will refund the fund value plus unallocated part of premium plus charges deducted from the policy by cancellation of units subject to the deduction of expenses incurred by us on stamp duty and medical examination (if any) and the proportionate premium for the period the Company has been on risk. Revision of Charges The Company may revise the following charges subject to the prior approval from the Insurance Regulatory and Development Authority of India (IRDA): The Fund Management Charge can be revised up to maximum of 1.35% pa Premium allocation and surrender charges are guaranteed Mortality Charges are guaranteed under this plan Charges for other Additional Risk Covers are reviewable Charges for switching, partial withdrawal and miscellaneous charge may change subject to a maximum of `1000

5 Fund Insufficiency After three policy years if value of Single Premium Unit Account is not sufficient to pay the monthly charges deducted from the Single Premium Unit Account, the policy will terminate and value of Top-Ups, if any, will be paid. Unit Price Calculation The Company shall calculate the Unit Price of the funds as per IRDA guidelines The appropriation basis will apply when a fund is expanding i.e. there is net creation of Units in the fund When appropriation basis applies, the Net Asset Value of the fund is determined as market value of assets held in the fund plus expenses incurred in the purchase of the assets plus the value of any current assets plus any accrued income net off fund management charges less the value of any current liabilities less provision and tax, if any. The Unit Price is determined by dividing the Net Asset Value of the fund by the number of Units existing at the valuation date (before any new Units are created) The expropriation basis will apply when a fund is contracting i.e. there is net cancellation of Units in the fund When expropriation basis applies, the Net Asset Value of the fund is determined as market value of assets held in the fund less the expenses incurred in the sale of the assets plus the value of any current assets plus any accrued income net off fund management charges less the value of any current liabilities less provision received after 3.00 pm, the closing Unit Price of the next business day shall apply In respect of premium received with outstation cheque/demand draft at the place where the premium is received, the closing NAV of the day on which cheques/demand draft is realized shall apply In respect of valid application received (for Switch, Surrender, Partial Surrender, maturity claim) up to 3.00 pm, the same day s closing unit price shall apply. If such application is received after 3.00 pm, the closing Unit Price of next business day shall apply Policy Loan No Loan is available on the policy under this plan. Service Tax As per the service tax rules, this tax is applicable on the Unit Linked Insurance Policies from 10/09/2004. Section 41 of the Insurance Act, 1938: Prohibition of rebate No person shall allow or offer to allow, either directly or indirectly, as an inducement to any person to take out or renew or continue an insurance in respect of any kind of risk relating to lives or property in India, any rebate of the whole or part of the commission payable or any rebate of the premium shown on the policy, nor shall any person taking out or renewing or continuing a policy accept any rebate, except such rebate as may be allowed in accordance with the published prospectuses or tables of the insurer. Section 45 of the Insurance Act, 1938: Non-disclosure No policy of life insurance effected before the commencement of this Act shall after the expiry of two it that the statement was false or that it suppressed facts which it was material to disclose. Risks of investment in Unit-Linked Policy DHFL Pramerica Life Insurance Company is the name of the insurance company and "DHFL Pramerica Super Wealth+ Single Premium is only the name of the policy and does not in any way indicate the quality of the policy, its future prospects or returns. The premium paid in Unit LInked life insurance policies are subject to investment risks associated with capital markets and the NAVs of the units may go up or down based on the performance of the fund and factors influencing the capital market and the insured is responsible for his /her decisions Before purchasing the policy, please know the associated risks and the applicable charges from our Life Associate, intermediary or Policy document. Unit Linked insurance products are different from traditional insurance products and are subject to the risk factors The premiums and funds are subject to certain charges related to the fund or to the premium paid The various funds shown in the schedule are the names of the funds and do not in any manner indicate the quality of the funds, their future prospects or returns. We do not guarantee the Fund Value or value of Unit Price. There can be no assurance that the objectives of any of the funds will be achieved and none is given by us. The past performance of any fund of the Company is not necessarily indicative of the future performance of any of the fund/s. All premiums / benefits payable under the policy are subject to applicable laws and taxes including service tax, as they exist from time to time. This brochure gives the salient features for the product. Please refer to Policy document for further details of the terms and conditions. and tax, if any. The Unit Price is determined by dividing years from the date of commencement of this Act and no the Net Asset Value of the fund by the number of Units policy of life insurance effected after the coming into force existing at the valuation date (before any Units of this Act shall, after the expiry of two years from the date are redeemed) on which it was effected, be called in question by an insurer The Unit Price will be rounded to the nearest of ` on the ground that a statement made in the proposal for and shall be published on the Company s website. insurance or in any report of a medical officer, or referee, Unit Allocation and De-allocation Rules or friend of the insured, or in any other document leading Premium received up to 3.00 pm along with a local to the issue of the policy, was inaccurate or false, unless cheque or a demand draft payable at par at the place the insurer shows that such statement was on a material where the premium is received, the closing unit price matter or suppressed facts which it was material to disclose of the day on which premium/switch request is received shall apply. If such premium and switch request is and that it was fraudulently made by the policyholder and that the policyholder knew at the time of making

6 About us DHFL Pramerica Life Insurance Company Ltd. (DPLI) is a joint venture between Dewan Housing Finance Corporation Ltd. (DHFL), India s second largest private sector housing finance company and Prudential International Insurance Holdings, Ltd. (PIIH), a fully owned subsidiary of Prudential Financial, Inc. (PFI), a financial services leader headquartered in the U.S. DPLI represents the coming together of two renowned financial services organizations with a legacy of business excellence spread over decades. The life insurance joint venture agreement between the two partners was signed in July DHFL Pramerica Life Insurance, which was earlier known as DLF Pramerica Life Insurance started operations in India on September 01, 2008 and has a pan India presence through multiple distribution channels which have been customized to address the specific insurance needs of diverse customer segments. The Company is committed to providing protection and quality financial advice to its customers. For further information on the Company, please visit About DHFL DHFL was founded in 1984 by Late Shri Rajesh Kumar Wadhawan with a vision to provide financial access to the lower and middle income segments of the society. Today, led by Mr. Kapil Wadhawan, CMD, DHFL, the Company is one of India s leading mortgage finance institutions with presence in over 450 locations across the country, in addition to representative offices in Dubai and London. All through its years of growth, DHFL has stayed with its core vision of financial inclusion. The Company s wide network, coupled with insights into local customer needs has enabled the Company to provide meaningful financial access to customers even in India s smallest towns. With a strong business foundation, an extensive distribution network, proven industry expertise and a deep understanding of the Indian customer, DHFL is one of India s largest financial services companies. For further information, please visit About PFI Pramerica is a trade name used by Prudential Financial, Inc. (PFI), a company incorporated and with its principal place of business in the United States, and its affiliated companies in select countries outside the United States. PFI (NYSE: PRU), a financial services leader with more than $1 trillion of assets under management as of September 30, 2013, has operations in the United States, Asia, Europe and Latin America. PFI s diverse and talented employees are committed to helping individual and institutional customers grow and protect their wealth through a variety of products and services, including life insurance, annuities, retirement-related services, mutual funds and investment management. In the U.S., PFI s iconic Rock symbol has stood for strength, stability, expertise and innovation for more than a century. Prudential Financial, Inc. of the United States is not affiliated in any manner with Prudential plc, a company incorporated in the United Kingdom. Pramerica and the Rock Logo are proprietary servicemarks and may not be used without the permission of the owner. Note: For information on timeframes for proposal processing, policy servicing, claims servicing and grievance redressal, please refer our website at Service tax & education cess will be deducted from the quoted premium. This product provides 30 days freelook period if sold through distance marketing mode. Insurance is the subject matter of solicitation. This product provides life insurance coverage. DHFL Pramerica Super Wealth+ Single Premium UIN: 140L015V01 DHFL Pramerica Unit Linked Critical Illness (CI) Rider UIN: 140A004V02 DHFL Pramerica Unit Linked Accidental Death Benefit (ADB) Rider UIN: 140A003V02 IRDA Registration Number: 140 DLF Pramerica Life Insurance Company Limited. All rights reserved. Copyright 2009 Beware of spurious phone calls and Fictitious/Fraudulent offers: IRDA clarifies to public that IRDA or its officials do not involve in activities like sale of any kind of insurance or financial products nor invest premiums. IRDA does not announce any bonus. Public receiving such phone calls are requested to lodge a police complaint along with details of phone call and number.