Income Rakshak plan help customers meet their ongoing monthly responsibilities and expenses by providing them some additional income, the company said
Mumbai: Private insurer DLF Pramerica Life Insurance (DPLI) launched a new plan that helps supplement a family's monthly income and also provides protection, reports PTI.
“Our new product, Income Rakshak, helps supplement a family's monthly income and allows customers to protect the lifestyle of their families even when their income shows a decline that is in the retirement phase. This can help them meet their expenses and fulfil their responsibilities and wishes without dipping into savings,” DPLI managing director and CEO Pavan Dhamija said in a release.
It is also a protection plan that helps to ensure that the customer's family has an additional income stream to meet the monthly expenses if the insured is no longer around to take care of them, he added.
“Income Rakshak focuses on helping customers meet their ongoing monthly responsibilities and expenses by providing them some additional income,” Dhamija elaborated.
At maturity of the policy, the chosen monthly income amount will be payable every month for a duration of 5 years (for policy term of 10 years), 7 years (for a policy term of 14 years) and 10 years (for a policy term of 20 years). Income Rakshak allows customers to choose the amount of monthly income as per the need, subject to a minimum of Rs1,000 for policy terms of 10, 14 or 20 years.