HDFC Life Investment Plans

Moreover, the company boasts of a strong foundation of sales force which helps to increase the company’s market share in the insurance sector. The range of products offered by HDFC include Protection plans in the form of term plans, Child Plans, Savings and Investment Plans which are available in both conventional or ULIPs form and pension plans.

What are Traditional / Investment Plans

Traditional plans, also called Conventional Insurance Plans are plans where money is invested as per the guidelines laid down in the Insurance Act. The whereabouts of the invested premium is not known to the policyholder. The policyholder is simply promised certain benefits payable on death, maturity or as money back. Traditional Investment Plans have some of the basic features which are mentioned below:

• These plans are issued for a longer term perspective and money cannot be withdrawn from the plans.

• In case of stopping the premium payment, the plan becomes paid-up if at least three full years’ premiums have been paid. A paid-up plan has a reduced Sum Assured and the policyholder has a choice to either run the plan at the reduced coverage or surrender the plan.

• The plans may be offered as participating or non-participating plans. Participating plans are entitled to participate in the company’s profits and earn bonuses which are not true for non-participating plans.

• The plans may be issued either as Endowment Plans or Money Back Plans

HDFC Life Traditional /HDFC Investment Plans

HDFC Life Insurance Company offers various types of Traditional / Investment Plans to its customers with attractive features and benefits. Here is the detailed list of plans along with their respective features and benefits.

1. HDFC Life Sanchay

   A traditional Endowment plan which has the following features:

   • Guaranteed Additions accrue under the plan for each completed policy year which depends up on the policy tenure. The rate of these additions is 8% of the Sum Assured for policy tenure of 15-19 years and 9% of the Sum Assured for policy tenure of 20-25 years.

   • On maturity, the Sum Assured and the aggregate Guaranteed Additions is paid to the policyholder.

   • In case of death, higher of the Sum Assured or 10 times the annual premium is paid including the Guaranteed Additions subject to a minimum of 105% of all premiums paid till the date of death

   • Smokers are charged with extra premiums

   • Loan can be availed under the plan up to a maximum of 80% of the Surrender Value

   • Tax benefit is available on the premium paid and the claim received. The premiums paid are exempt from taxation under Section 80C of the Income Tax Act and the claim received in exempt under Section 10(10D) of the Income Tax Act.

   Eligibility Details of HDFC Investment Plan

   	Minimum	Maximum
   Entry Age	30 days	45 years
   Maturity Age	18 years	70 years
   Policy Term	15 years	25 years
   Sum Assured	Rs.112, 953	No limit
   Annual Premium Amount	Rs.30, 000	No limit
   Premium Payment Term	5, 8, 10 years
   Premium Payment Frequency	Yearly, half-yearly, quarterly, monthly

   
   

   You May like to Read: HDFC Life Sanchay Plus

2. HDFC Life Super Income Plan

   A savings plan which also provides for regular incomes. The features of the plan are as follows:

   • The plan has 6 options of availing the regular incomes each with a different combination of term, premium paying term and the benefit percentage.

   • The Guaranteed Base Income (GBI) is paid every year after the completion of the premium paying term till the end of the policy term. The rate of the benefit paid ranges from 8% - 12.5% of the Sum Assured depending on the plan option chosen.

   • The benefit can also be availed monthly @ 8% of the annual payout

   • On maturity, the last instalment of the GBI is paid along with the vested bonus, interim bonus and terminal bonus, if any.

   • In case of death, higher of the Sum Assured on maturity or 10 / 7 times the annual premium including the vested bonus, interim bonus and terminal bonus, if any is paid subject to a minimum of 105% of the total premiums paid till the date of death.

   • High Sum Assured rebates are allowed for coverages of Rs.4 lakhs and above.

   • Loan can be availed under the plan up to a maximum of 80% of the Surrender Value

   • Tax benefit is available on the premium paid and the claim received. The premiums paid are exempt from taxation under Section 80C of the Income Tax Act and the claim received in exempt under Section 10(10D) of the Income Tax Act.

   Eligibility Details of HDFC Investment Plan

   	Minimum	Maximum
   Entry Age	30 days	59 years
   Maturity Age	18 years	75 years
   Policy Term	16 years	27 years
   Sum Assured	Rs.128, 337	No limit
   Annual Premium Amount	Rs.24, 000	No limit
   Premium Payment Term	8, 10, 12 years
   Premium Payment Frequency	Yearly, half-yearly, quarterly, monthly

3. HDFC Life Classic Assure Plus

   A traditional Endowment Plan with the following features:

   • Guaranteed Reversionary Bonus @ 3% of the Sum Assured is added every year during the premium paying term

   • On maturity, the Sum Assured including the accrued bonuses, guaranteed reversionary bonus and terminal bonus, if any, is paid to the policyholder

   • In case of death, higher of the Sum Assured or 10 times the annual premium including the vested bonus, interim bonus and terminal bonus, if any is paid subject to a minimum of 105% of the total premiums paid till the date of death.

   • High Sum Assured rebates are allowed for coverages of Rs.10 lakhs and above.

   • Loan can be availed under the plan up to a maximum of 80% of the Surrender Value

   • Tax benefit is available on the premium paid and the claim received. The premiums paid are exempt from taxation under Section 80C of the Income Tax Act and the claim received in exempt under Section 10(10D) of the Income Tax Act.

   Eligibility Details

   	Minimum	Maximum
   Entry Age	30 days	60 years
   Maturity Age	18 years	75 years
   Policy Term	10, 15 or 20 years
   Sum Assured	Rs.49, 447	No limit
   Annual Premium Amount	Rs.12, 000	No limit
   Premium Payment Term	7, 10 years
   Premium Payment Frequency	Yearly, half-yearly, quarterly, monthly

   

4. HDFC Life Super Savings Plan

   A traditional Endowment Plan with the following features:

   • It is a participating plan which earns simple reversionary bonus, interim bonus and terminal bonus.

   • On maturity, the Sum Assured and the vested bonuses is paid to the policyholder

   • In case of death, higher of the Sum Assured or 10 times the annual premium including the vested bonus, interim bonus and terminal bonus, if any is paid subject to a minimum of 105% of the total premiums paid till the date of death.

   • The plan has an inbuilt Accidental Benefit Rider which pays an additional Sum Assured if the insured dies due to an accident

   • Loan can be availed under the plan up to a maximum of 80% of the Surrender Value

   • Tax benefit is available on the premium paid and the claim received. The premiums paid are exempt from taxation under Section 80C of the Income Tax Act and the claim received in exempt under Section 10(10D) of the Income Tax Act.

   People Also Read: HDFC Life Flexi Cap Fund

   Eligibility Details

   	Minimum	Maximum
   Entry Age	30 days	60 years
   Maturity Age	18 years	75 years
   Policy Term	15 years	30 years
   Sum Assured	Rs.245, 145	No limit
   Annual Premium Amount	Rs.24, 000	No limit
   Premium Payment Term	Equal to policy term
   Premium Payment Frequency	Yearly, half-yearly, quarterly, monthly

5. HDFC Life SampoornaSamridhi Plus

   A traditional Endowment plan which can be converted to a Whole Life Plan. The features are as follows:

   • There are two plan options of Endowment and Endowment with Whole Life

   • The option of Endowment with Whole Life can be chosen where the plan runs till death of the insured or till he attains 100 years whichever is later and on death the Sum Assured on Maturity is paid

   • Guaranteed Additions are added in the first 5 policy years @ 3% for a term of 15-19 years, 4% for a term of 20-25 years and 5% for a term higher than 25 years

   • On maturity, the Sum Assured on maturity including the guaranteed additions, vested bonuses and terminal bonus, if any, is paid

   • In case of death higher of the Sum Assured on maturity or 10 / 7 times the annual premium including the guaranteed additions, vested bonuses and terminal bonus, if any, is paid subject to a minimum of 105% of all premiums paid till the date of death

   • The plan has an inbuilt Accidental Benefit Rider which pays an additional Sum Assured if the insured dies due to an accident

   • Rebates are allowed in premium for choosing a high Sum Assured level of Rs.1.5 lakhs and above

   • Loan can be availed under the plan up to a maximum of 80% of the Surrender Value

   • Tax benefit is available on the premium paid and the claim received. The premiums paid are exempt from taxation under Section 80C of the Income Tax Act and the claim received in exempt under Section 10(10D) of the Income Tax Act.

   Eligibility Details

   	Minimum	Maximum
   Entry Age	30 days	60 years
   Maturity Age	18 years	70 years
   Policy Term	15 years	30 years or 100 years - age
   Sum Assured	Rs.65, 463	No limit
   Annual Premium Amount	Rs.12, 000	No limit
   Premium Payment Term	Policy term – 5 years
   Premium Payment Frequency	Yearly, half-yearly, quarterly, monthly

6. HDFC Life Uday

   A traditional plan with the following features:

   • It is a participating plan which earns simple reversionary bonus, interim bonus and terminal bonus

   • Guaranteed Additions @3% of the Sum Assured at maturity accrue in the first 5 years of the plan

   • On maturity, the Sum Assured on maturity including the guaranteed additions, vested bonuses and terminal bonus, if any, is paid

   • In case of death higher of the Sum Assured on maturity or 10 / 7 times the annual premium including the guaranteed additions, vested bonuses and terminal bonus, if any, is paid subject to a minimum of 105% of all premiums paid till the date of death

   • The plan has an inbuilt Accidental Benefit Rider which pays an additional Sum Assured if the insured dies due to an accident

   • Rebates are allowed in premium for choosing a high Sum Assured level of Rs.2 lakhs and above

   • Loan can be availed under the plan up to a maximum of 80% of the Surrender Value

   • Tax benefit is available on the premium paid and the claim received. The premiums paid are exempt from taxation under Section 80C of the Income Tax Act and the claim received in exempt under Section 10(10D) of the Income Tax Act.

   Eligibility Details

   	Minimum	Maximum
   Entry Age	18 years	55 years
   Maturity Age	30 years	70 years
   Policy Term	12 years	15 years
   Sum Assured	Rs.28, 465	No limit
   Annual Premium Amount	Rs.5000	No limit
   Premium Payment Term	8 or 10 years
   Premium Payment Frequency	Yearly, half-yearly, quarterly, monthly

Applying for a Traditional / Investment Plan from the company:

Online

The HDFC Standard Life Insurance company offers specific plans which are available online only. The customer only needs to log into the company’s website, choose the required plan, choose the coverage and provide the details. The premium will be determined using the filled details. The customer then needs to pay the premium online through credit card, debit card or net banking facilities and the policy will be issued

Intermediaries

Plans which are not available online can be purchased from agents, brokers, banks, etc. where the intermediaries help with the application process.

HDFC Life Investment Plans - FAQs