HDFC SL ProGrowth Flexi Plan

This plan also offers you a life cover benefit so that your family and dependents need not worry about future expenses, in your absence, and continue to live the lifestyle they are accustomed to.

HDFC SL ProGrowth Flexi Plan Details:

Benefits of HDFC SL ProGrowth Flexi Policy

The key benefits offered by HDFC SL ProGrowth Flexi Policy are as follows:

1. Maturity Benefit

   The policy is matured after the completion of the policy term. All the risk covers thereafter shall cease. You are allowed to redeem the balance units leftover at the prevailing unit charges on that date and receive the fund value. The risk involved in the investment throughout the settlement period will be continued and will be borne by the policy buyer. However, the policyholder shall be entitled to take his fund value in regular periodical instalments over a maximum period extending up to 5 years.

2. Death Benefit

   In a case where the policyholder dies due to an unfortunate event, the insurance company will reimburse the highest of the followings to the nominated person:

   • Sum Assured (after deducting all withdrawals made in the 2 years immediately before the policyholder’s death)
   • Unit Fund Value
   • 105% of the total paid premiums- as the minimum death benefit

3. Accidental Death Benefit

   The Accidental Death Benefit (if applicable) will also be paid to the nominee. This benefit will be equal to the Sum Assured and will be paid additional to the Death Benefit. The policy thereafter will be terminated, and no benefits shall be paid in the future.

4. Partial Withdrawal Benefit

   The policyholder can go for partial withdrawals in lump-sum from the funds after a period of 5 years of the policy provided:

   • The Policyholder is at least of 18 years age
   • The withdrawal amount should not be less than Rs. 10,000
   • After the withdrawal and applicable charges, the fund value should not be less than 150% of the original regular premium

   *Standard T & C Apply

5. Tax Benefit

   The person insured is entitled to receiving tax benefits under HDFC SL ProGrowth Flexi Plan. All the benefits obtained and premiums paid are eligible for tax exemption under Section 80 C and 10 (10D) of the Income Tax Act, 1961.

*Tax Benefit is subject to change in tax laws

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The Premiums for HDFC SL ProGrowth Flexi Plan:

HDFC SL ProGrowth Flexi premium paying modes are Monthly, half-yearly, and annually.

The premium paying term is 10 to 30 years.

The minimum premium paying term is 5 years (for PPT 10 years) and 10 years for (for PPT 15+ years).

The minimum premium payable is:

• Monthly: Rs. 2,500
• Half-yearly: Rs. 10,000
• Annual: Rs. 24,000

However, there is no limit to the maximum premium.

You can log on to HDFC Life Insurance official website and use the HDFC SL ProGrowth Flexi calculator for free to get free premium quotes.

Additional Riders for the HDFC SL ProGrowth Flexi Plan

• HDFC Life Income Benefit on Accidental Disability Rider 
• HDFC Life Critical Illness Plus Rider

Eligibility for the HDFC SL ProGrowth Flexi Plan

• Entry Age:

Life Option variant: 14-65 years

Extra Life Option variant: 18-55 years

• Maturity:

Life Option variant: 75 years

Extra Life Option variant: 70 years

What are the Documents Required to Buy this Policy?

Following are the documents required for buying HDFC SL ProGrowth Flexi policy:

• Proof of identity- Voter ID, PAN card, Aadhaar card or passport
• Proof of address- Voter ID, Aadhaar card, ration card, or driving license
• Proof of income- Copy of salary slip or IT return

How to Buy this Plan Online?

Steps to buy online HDFC SL ProGrowth Flexi policy are as below: 

Step 1: Visit the official website of Policybazaar. 

Step 2: Choose HDFC SL ProGrowth Flexi Plan

Step 3: Select your premium amount and sum assured to calculate the premium

Step 4: Enter your details such as name, DOB, phone number, email address, etc. and click on ‘Proceed’.

Step 5: Select the plan variant and complete the formalities in the following steps.

Step 6: Finally, make the payment online, and your policy will be initiated shortly.

Exclusions of the HDFC SL ProGrowth Flexi Plan

HDFC SL ProGrowth Flexi reviews suggest that it has an exclusion for suicidal death. If the policyholder dies as a result of committing suicide within 12 months from the date of the policy commencement or revival, the nominee will get the existing fund value as per conditions.

Moreover, no Accidental Death Benefit will be paid if death occurs due to the following reasons:

• Within 90 days of the accident
• Self-harm or injury
• The hazardous or criminal activity
• Drug or alcohol abuse
• War, riots, etc.

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