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DHFL Pramerica Magnum Assure
DHFL Pramerica Magnum Assure

Shriram New Shri Vidya Plan
Shriram New Shri Vidya Plan



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DHFL Pramerica Magnum Assure
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Shriram New Shri Vidya Plan

DHFL Pramerica Magnum Assure and Shri Vidya

1 Details
1.1 Insurance Provider
DHFL Pramerica life insurance company ltd.
Shriram Life Insurance Company
1.2 Claim Settlement Ratio
1.2.1 Settlement Ratio (2015-16)
48.80%
Rank: 24 (Overall)
51.21%
Rank: 23 (Overall)
1.2.2 Settlement Ratio
LIC Bhagya Laks..
57.00%
Rank: 16 (Overall)
67.00%
Rank: 15 (Overall)
Edelweiss Tokio My Life Plus
1.2.3 Settlement Ratio (2013-14)
LIC New Jeevan ..
22.14 %
Rank: 25 (Overall)
67.69 %
Rank: 23 (Overall)
DHFL Pramerica Family Income
1.3 Type
Endowment Plan
Endowment Plan
1.4 Status
In-force
In-force
1.5 Online
23% Endowment Plans Life insurance plans have it !
23% Endowment Plans Life insurance plans have it !
1.6 Eligibility
1.6.1 Min Entry Age
AEGON Religare ..
18 years
Rank: 17 (Overall)
18 years
Rank: 17 (Overall)
Bajaj Allianz Cash Assure
ADD ⊕
1.6.2 Max Entry Age
ICICI Pru Immed..
55 years
Rank: 22 (Overall)
50 years
Rank: 26 (Overall)
Reliance Classic Plan 2
ADD ⊕
1.6.3 Min Vesting Age
Canara HSBC Sma..
28 years
Rank: 17 (Overall)
Not Available
Rank: N/A (Overall)
Shriram Secure Investment Plan
ADD ⊕
1.6.4 Max Vesting Age
Bharti AXA Life..
65 years
Rank: 20 (Overall)
70 years
Rank: 16 (Overall)
LIC New Children Money Back Plan
ADD ⊕
1.7 Policy Term
1.7.1 Min Term
Edelweiss Tokio..
10 years
Rank: 8 (Overall)
10 years
Rank: 8 (Overall)
HDFC Life New Group Unit Linked Plan
ADD ⊕
1.7.2 Max Term
TATA AIA Fortun..
15 years
Rank: 29 (Overall)
25 years
Rank: 20 (Overall)
HDFC Life New Group Unit Linked Plan
ADD ⊕
1.8 Returns
1.8.1 Min Sum Assured
Aviva Life Shie..
Not Available
Rank: N/A (Overall)
₹ 100000
Rank: 33 (Overall)
ICICI Pru Immediate Annuity Plan
1.8.2 Min Sum Assured (Variable)
Depends on the Premium and policy term
Not Applicable
1.8.3 Max Sum Assured
IDBI Federal Lo..
Not Available
Rank: N/A (Overall)
Not Available
Rank: N/A (Overall)
Kotak Gratuity Plus Group Plan
1.8.4 Max Sum Assured (Variable)
No Limit
No Limit
1.9 Group Plan
1% Endowment Plans Life insurance plans have it !
1% Endowment Plans Life insurance plans have it !
1.9.1 Group Type
Not Applicable
Not Applicable
1.9.2 NEE Size
Metlife Group T..
Not Available
Rank: N/A (Overall)
Not Available
Rank: N/A (Overall)
Reliance Traditional Group Employee Benefit Plan
1.9.3 EE Size
Metlife Complet..
Not Available
Rank: N/A (Overall)
Not Available
Rank: N/A (Overall)
HDFC Group Term Insurance
2 Premium
2.1 Minimum Premium
2.1.1 Min Premium
Kotak Preferred..
₹ 48000
Rank: 67 (Overall)
Not Available
Rank: N/A (Overall)
HDFC Life Group Credit Protect Insurance Plan
2.1.2 Min Premium (Variable)
Not Applicable
Depends on age, term and Sum Assured chosen
2.2 Maximum Premium
2.2.1 Max Premium
Metlife Traditi..
Not Available
Rank: N/A (Overall)
Not Available
Rank: N/A (Overall)
HDFC Life Pradhan Mantri Jeevan Jyoti Bima Yojana
2.2.2 Max Premium (Variable)
No Limit
Not Applicable
2.3 Payment Options
Regular Pay
Limited Pay, Regular Pay
2.4 Regular Modes
Annual, Monthly
Annual, Monthly, Quarterly, Semi-Annual
2.5 Top Up
Not Allowed
Not Allowed
2.5.1 Top Up Value
Kotak Invest Ma..
Not Available
Rank: N/A (Overall)
Not Available
Rank: N/A (Overall)
Pension Plus
3 Loan And Benefits
3.1 Loan
81% Endowment Plans Life insurance plans have it !
81% Endowment Plans Life insurance plans have it !
3.2 Surrender
90% Endowment Plans Life insurance plans have it !
90% Endowment Plans Life insurance plans have it !
3.2.1 Surrender Value
Depends on the policy year, policy term and premiums paid
Not Available
3.3 Benefits
3.3.1 Tax
All Endowment Plans Life insurance plans have it !
All Endowment Plans Life insurance plans have it !
3.3.2 Tax Benefit Amount
As applicable under Section 80C and Section 10(10D), as per the Income Tax Act, 1961.
Tax benefits under this plan are available as per the provisions of the Income tax Act.
3.3.3 Service Tax
Applicable
Applicable
3.3.4 Maturity
99% Endowment Plans Life insurance plans have it !
99% Endowment Plans Life insurance plans have it !
3.3.5 Maturity Benefit Amount
Maturity benefit will be payable in form of regular monthly payouts during the payout period
Accrued Reversionary Bonuses and Terminal Bonus, if any, will be paid.
3.3.6 Death
99% Endowment Plans Life insurance plans have it !
99% Endowment Plans Life insurance plans have it !
3.3.7 Death Benefit Amount
Death sum assured is paid in the form of equal monthly payouts
Sum Assured on Death+ Accrued Reversionary Bonuses + Terminal Bonus. However the death benefit will be at least 105% of all premiums paid till the date of death excluding any extra and rider premiums and taxes.
3.3.8 Annuity
No Endowment Plans Life insurance plans has it !
No Endowment Plans Life insurance plans has it !
3.4 Bonus
Not Available
Reversionary Bonus, Terminal Bonus
4 Provisions
4.1 Renewal
72% Endowment Plans Life insurance plans have it !
72% Endowment Plans Life insurance plans have it !
4.1.1 Renewal Period
Bajaj Allianz R..
2 years
Rank: 3 (Overall)
2 years
Rank: 3 (Overall)
HDFC Life Group Unit Linked Pension Plan
4.2 Riders
4.2.1 Accidental Death
57% Endowment Plans Life insurance plans have it !
57% Endowment Plans Life insurance plans have it !
4.2.2 ADBR Description
Not Applicable
Not Available
4.2.3 Critical Illness
27% Endowment Plans Life insurance plans have it !
27% Endowment Plans Life insurance plans have it !
4.2.4 CI Description
Not Applicable
Not Available
4.2.5 Term Rider
16% Endowment Plans Life insurance plans have it !
16% Endowment Plans Life insurance plans have it !
4.2.6 TR Description
Not Applicable
Not Applicable
4.2.7 Permanent Disability
22% Endowment Plans Life insurance plans have it !
22% Endowment Plans Life insurance plans have it !
4.2.8 PD Description
Not Applicable
Not Applicable
5 Terms and Conditions
5.1 Grace Period
LIC Jeevan Raks..
30 Days
Rank: 1 (Overall)
30 Days
Rank: 1 (Overall)
HDFC Group Term Insurance
ADD ⊕
5.2 Free Look Period
Mera Term Plan
15 Days
Rank: 2 (Overall)
15 Days
Rank: 2 (Overall)
Reliance Online Term
ADD ⊕
5.3 Exclusion On Base Policy
Suicide Clause
Suicide Clause
5.4 Charges
5.4.1 Premium Allocation
4% Endowment Plans Life insurance plans have it !
4% Endowment Plans Life insurance plans have it !
5.4.2 Premium Allocation Charge
Not Applicable
Not Available
5.4.3 Policy Administration
4% Endowment Plans Life insurance plans have it !
4% Endowment Plans Life insurance plans have it !
5.4.4 Policy Administration Charge
Not Applicable
Not Available
5.4.5 Fund Management
4% Endowment Plans Life insurance plans have it !
4% Endowment Plans Life insurance plans have it !
5.4.6 Fund Management Charge
Not Applicable
Not Available
5.4.7 Mortality
5% Endowment Plans Life insurance plans have it !
5% Endowment Plans Life insurance plans have it !
5.4.8 Mortality Charge
Not Applicable
Not Available
5.4.9 Switching
Not Allowed
Not Allowed
5.4.10 Switching Charge
Reliance Group ..
Not Available
Rank: N/A (Overall)
Not Available
Rank: N/A (Overall)
SBI Life Kalyan ULIP Plus
5.4.11 Partial Withdrawal
Not Allowed
Not Allowed
5.4.12 Partial Withdrawal Charge
Kotak Invest Ma..
Not Available
Rank: N/A (Overall)
Not Available
Rank: N/A (Overall)
Aviva Live Smart Plan
5.4.13 Premium Redirection
Not Allowed
Not Allowed
5.4.14 Premium Redirection Charge
Kotak Invest Ma..
Not Available
Rank: N/A (Overall)
Not Available
Rank: N/A (Overall)
SBI Life Kalyan ULIP Plus
5.5 Group Members
5.5.1 Addition
Not Allowed
Not Allowed
5.5.2 Deletion
Not Allowed
Not Allowed
5.6 Medical Examination
77% Endowment Plans Life insurance plans have it !
77% Endowment Plans Life insurance plans have it !

Compare DHFL Pramerica Magnum Assure and Shri Vidya

Compare DHFL Pramerica Magnum Assure and Shri Vidya on basis of policy details, premium details, eligibility etc. DHFL Pramerica Magnum Assure is provided by DHFL Pramerica life insurance company ltd.. Shri Vidya is provided by Shriram Life Insurance Company. Both these policies come under Endowment Plans. Online buying option is not available for first insurance policy and online buying option is not available for second policy.

Minimum entry age for DHFL Pramerica Magnum Assure is 18 years and maximum entry age for the same policy is 55 years. Similarly for Shriram New Shri Vidya Plan, minimum entry age is 18 years and maximum entry age is 50 years. Depending upon the selected plan, the premium amount and payment options may be different. Premium is the amount you pay to the insurance company in exchange of life cover. Premium payment option/s for former policy: Regular Pay and premium payment option/s for latter policy: Limited Pay and Regular Pay. In regular pay mode, you are supposed to pay this money at fixed intervals throughout the policy term whereas for limited pay mode, you are supposed to pay money only for a limited number of years.

Benefits of DHFL Pramerica Magnum Assure and Shri Vidya

Benefits of DHFL Pramerica Magnum Assure and Shri Vidya consist of maturity benefit, tax benefit, death benefit etc. Some DHFL Pramerica Magnum Assure and Shriram New Shri Vidya Plan Provisions are made for a policy holder. Loan is one such provision. For first plan, a person can apply for loan and second plan provides loan facility. Following are the benefits under these insurance policies.

For DHFL Pramerica Magnum Assure:

  • Tax benefit: Available.
  • Maturity benefit: Available.
  • Death benefit: Available.

For DHFL Pramerica Magnum Assure:

  • Tax benefit: Available.
  • Maturity benefit: Available.
  • Death benefit: Available.

If the policy has tax benefit, it means that the premium you pay for the policy is eligible for deduction in tax returns along with a part of money you receive on maturity of the policy. If the policy has death benefit, in event of death of the policy holder, all the money paid as premium shall be returned to his family. Even bonus is added to this money for some policies. Thus his family can stay financially secure. Maturity benefit is the money you get at the end of the policy term. This is the total of all the premiums you have paid along with applicable bonus.

Provisions under DHFL Pramerica Magnum Assure and Shri Vidya

Provisions under DHFL Pramerica Magnum Assure and Shri Vidya mainly include policy renewal and different types of riders. For DHFL Pramerica Magnum Assure, policy renewal is allowed Policy renewal is allowed for Shriram New Shri Vidya Plan. Different riders such as accidental death benefit rider, critical illness rider etc. are provided for an insurance policy. Riders are special clauses in an insurance policy that cover cases when you won't be able to pay premium. Accidental death benefit rider is not available for first policy and it is available for second policy.Critical illness rider is not available for former policy and it is available for second policy.Term rider is not available for first insurance policy and this rider is not available for second policy.

Terms and Conditions For DHFL Pramerica Magnum Assure and Shri Vidya

Terms and conditions for DHFL Pramerica Magnum Assure and Shri Vidya includes the grace period, free look period, exclusions, riders etc. for both the policies. Grace period can be utilized for paying unpaid premiums. Grace period for these insurance plans is 30 Days. Free look period for these insurance plans is 15 Days.

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