DLF Pramerica Life launches 'Aajeevan Samriddhi'

MUMBAI: Private insurer DLF Pramerica Life Insurance (DPLI) today launched a participating whole life insurance cum savings plan - Aajeevan Samriddhi- that aims to help customers protect financial security of their families in their life time.

"With the rising cost of living and increasing life spans, customers are looking at products that can address their retirement planning and continued financial protection.

"Aajeevan Samridhi provides customers the dual benefit of Whole Life Protection till age 99 with a retirement payout at age 65. In case the customer survives the policy term, there is a maturity payout at 99 years," DPLI Managing Director and CEO Pavan Dhamija said in a release issued here.

The policy holder of Aajeevan Samridhi will be eligible for guaranteed additions for each completed policy year for the initial five years of the policy.

The final one-time bonus will be paid on the termination of the policy in case of death, surrender or maturity, as applicable.

The policyholder would be eligible to participate in the profits arising from the portfolio of such policies.

DPLI is a joint venture between real estate company DLF and Prudential International Insurance Holdings (PIIH), a fully-owned subsidiary of Prudential Financial (PFI), a financial services leader headquartered in the US.