The uncertainties of life can turn all your best-laid plans upside down and affect your aspirations. It is an act of wisdom to remain prepared by purchasing a life insurance solution that will offer you a life cover and help you grow your savings at the same time. HDFC SL ProGrowth Flexi Plan is a savings cum insurance ULIP (Unit Linked Plan) that will enable you to secure your loved ones financially.Read more
Save Upto ₹46,800 in tax under Sec 80C
Inbuilt Life Cover
Tax Free Returns Unlike FD+
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.
|Policy Tenure||10 – 30 years|
|Premium Paying Term||10 -30 years|
|Premium Paying Mode||Monthly, half-yearly, & annually|
|Entry Age||Life Option Minimum- 14 years Maximum- 65 years Extra Life Option Minimum- 18 years Maximum- 55 years|
|Grace Period||30 days (15 days for monthly frequency)|
|Sum Assured||Depends on the policyholder’s age, policy term, and annualized premium|
|Liquidity||Partial withdrawals available after 5 years; no loans are available under this policy.|
The key benefits offered by HDFC SL ProGrowth Flexi Policy are as follows:
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.
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:
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.
The policyholder can go for partial withdrawals in lump-sum from the funds after a period of 5 years of the policy provided:
*Standard T & C Apply
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
People Also Read: HDFC Life Flexi Cap Fund
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:
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.
Life Option variant: 14-65 years
Extra Life Option variant: 18-55 years
Life Option variant: 75 years
Extra Life Option variant: 70 years
Following are the documents required for buying HDFC SL ProGrowth Flexi policy:
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.
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:
*All savings are provided by the insurer as per the IRDAI approved insurance plan. Standard T&C Apply
*Please note that the quotes shown will be from our partners
*Tax benefit is subject to changes in tax laws
~Source - Google Review Rating available on:- http://bit.ly/3J20bXZ
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