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DHFL Pramerica Roz Sanchay
DHFL Pramerica Roz Sanchay

TATA AIA Life Insurance Fortune Pro
TATA AIA Life Insurance Fortune Pro



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DHFL Pramerica Roz Sanchay
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TATA AIA Life Insurance Fortune Pro

DHFL Pramerica Roz Sanchay and Fortune Pro Benefits

1 Loan And Benefits
1.1 Loan
81% Endowment Plans Life insurance plans have it !
81% Endowment Plans Life insurance plans have it !
1.2 Surrender
90% Endowment Plans Life insurance plans have it !
90% Endowment Plans Life insurance plans have it !
1.2.1 Surrender Value
Depends on the policy year, policy term and premiums paid
Not Applicable
1.3 Benefits
1.3.1 Tax
All Endowment Plans Life insurance plans have it !
All Endowment Plans Life insurance plans have it !
1.3.2 Tax Benefit Amount
As applicable under Section 80C and Section 10(10D), as per the Income Tax Act, 1961.
Premiums paid under this plan are eligible for tax benefits under Section 80C of the Income Tax Act, 1961 and are subject to modifications made thereto from time to time.
1.3.3 Service Tax
Applicable
Applicable
1.3.4 Maturity
99% Endowment Plans Life insurance plans have it !
99% Endowment Plans Life insurance plans have it !
1.3.5 Maturity Benefit Amount
150% of Base Sum Assured + Accrued Annual Guaranteed Additions
On survival to the end of the policy term, you will receive the Total Fund Value valued at applicable NAV on the date of Maturity.
1.3.6 Death
99% Endowment Plans Life insurance plans have it !
99% Endowment Plans Life insurance plans have it !
1.3.7 Death Benefit Amount
Death sum assured + Accrued Annual Guaranteed Additions
In case of death of the life insured during the policy term and while the policy is in force, the Nominee/legal heir will get, Highest of 105 percent of the total Regular / Single Premiums paid or the Regular / Single Premium Fund Value of this Policy.
1.3.8 Annuity
No Endowment Plans Life insurance plans has it !
No Endowment Plans Life insurance plans has it !
1.4 Bonus
Not Available
Not Applicable

Availability of Loan

One can compare benefits of both policies based on aspects like availability of loan, surrender value, tax benefits, death benefits, etc. for DHFL Pramerica Roz Sanchay and TATA AIA Life Insurance Fortune Pro. For an insurance policy, loan option may or may not be provided. For first policy, a person can apply for loan and second policy does not provide loan facility.Loan is a facility that is provided by the insurance companies so that in case of emergencies, you can borrow money against your life insurance policy. If loan is provided by an insurance company, its value is usually deducted from your fund value i.e. the amounts of premiums that you've paid up to the time of money borrow. Also some companies specify the period of time when the loan has to repaid.

Benefits Under DHFL Pramerica Roz Sanchay and Fortune Pro

Benefits Under DHFL Pramerica Roz Sanchay and Fortune Pro can an important point of comparison between the two plans.

For DHFL Pramerica Roz Sanchay:

  • Tax Benefit: Available
  • Maturity Benefit: Available
  • Death Benefit: Available
  • Annuity Benefit: Not Available

For TATA AIA Life Insurance Fortune Pro:

  • Tax Benefit: Available
  • Maturity Benefit: Available
  • Death Benefit: Available
  • Annuity Benefit: Not Available

Tax benefit implies that a part of one's fund value and the premium that one pays against his insurance plan are eligible for deduction on tax returns. Maturity benefit can be availed at the end of the policy term of your plan. It is paid along with the sum assured. Death benefit is an amount of money paid to the family of the life insured in event of his demise before the end of the policy term. Annuity benefit offers you an opportunity to convert your funds at end of policy term to annuity. Annuity is a type of plan where you pay a lump sum amount at once and reap its benefits after your retirement.

Surrender Value of DHFL Pramerica Roz Sanchay and Fortune Pro

Surrender value of DHFL Pramerica Roz Sanchay and Fortune Pro is the amount of money that will be provided by the insurance company in case you want to surrender the policy before maturity. Surrender may not be allowed for all types of insurance policies. DHFL Pramerica Roz Sanchay allows surrender of policies before end of policy term. This means that you'll get the assured surrender value i.e. returns on the premiums paid till date. TATA AIA Life Insurance Fortune Pro does not allow surrender of policy.

Bonuses Available for These Plans

Bonuses available for these plans include terminal bonus, reversionary bonus, interim bonus etc. Bonus is an important part of DHFL Pramerica Roz Sanchay and Fortune Pro benefits. Terminal bonus is provided by the insurance company to reflect the overall performance of your chosen policy. Reversionary bonus is an amount of money added to your returns on maturity. Terminal bonus is usually announced twice a year. If your policy matures at a date between these two bonus days, you may get an interim bonus.

  • Bonus provided under DHFL Pramerica Roz Sanchay: No bonus is provided.
  • Bonus provided under TATA AIA Life Insurance Fortune Pro: Not Applicable

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