HDFC SL ProGrowth Super II

HDFC SL ProGrowth Super II Plan Details:

Benefits of HDFC SL ProGrowth Super II

Here is a rundown to the key benefits of HDFC SL ProGrowth Super II:

1. Maturity Benefit

   The policyholder receives a maturity benefit at the end of the policy term if he survives the term. It is the amount of the accrued fund value of the HDFC SL ProGrowth Super II policy. The policyholder may redeem the balance units valued on the basis of the unit price of the moment and then take the fund value. 

2. Death Benefit

   If the policyholder dies during active HDFC SL ProGrowth Super II policy status, then the beneficiary would receive the sum assured amount along with the fund value, which must be at least 105% of the paid premiums. 

3. Surrender Benefits

   If the life assured surrenders the policy before the first five years of the tenure, then the fund value less discontinued charges will be transferred to the DPF or the Discontinued Policy Fund. This will be paid out after the lock-in period is completed. On the other hand, if the policy is surrendered after five years of the HDFC SL ProGrowth Super II policy tenure, then the fund value is payable with immediate effect. 

4. Tax Benefit

   Under Section 80C and 10(10D) of the Income Tax Act, 1961, the policyholder may avail tax benefits on the paid HDFC SL ProGrowth Super II premium. Consult a tax advisor to know more. 

* Tax benefit is subject to changes in tax laws

The Premium for HDFC SL ProGrowth Super II

The HDFC SL ProGrowth Super II premium is available to be paid in Regular Pay's annual mode. Under this policy, the policyholder can choose the premium to be paid, which is invested in the insurer's selected funds. In the end, provided the HDFC SL ProGrowth Super II policy status is active, the accrued value is immediately payable by the insurer. 

To calculate the premiums online, a buyer can use the HDFC SL ProGrowth Super II calculator to make the premium calculation task simple. 

The minimum Annualized premium is Rs. 15,000, while there is no limit for the maximum premium, and it is subject to underwriting guidelines.

Additional Riders for HDFC SL ProGrowth Super II

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

Eligibility for HDFC SL ProGrowth Super II

The maximum and minimum age that is required to be eligible for online HDFC SL ProGrowth Super II is as follows:

• The minimum entry age must be 14 years
• The maximum entry age must be 65 years

What are the Documents Required to Buy this Policy?

To buy HDFC SL ProGrowth Super II, the following documents must be furnished at the time of purchase:

• Proposal form
• KYC documents (AADHAR CARD, EPIC, Pan Card, etc. as asked by the insurer)
• Accurate medical history, if required

How to Buy this Plan Online?

One can go to the insurer or the aggregator’s website to select the purchase plan. Fill in the necessary details and then follow the three simple steps to buy HDFC SL ProGrowth Super II:

• Choose the regular premium along with the level of protection
• Choose plan options
• Choose the investment funds
• One will be given a premium quote. If it is agreeable, one can go ahead and finalize the purchase by making the online premium payment.

Exclusions of HDFC SL ProGrowth Super II

In the case of death of the life assured caused by suicide within 12 months from the date of starting the policy inception or the revival of the same, the death benefit comprising the Fund Value is payable to the nominee. 

Moreover, exclusion includes the benefit of Accidental Total & Permanent Disability. This benefit will not be paid if the disability arises due to:

• Participation in racing, adventure or hazardous sports
• Self-inflicted injury or suicide attempt
• War, riots, civil war, military operations
• Under the influence of drugs or alcohol
• Chemical or nuclear contamination, etc.

For a complete list of exclusions, please refer to the policy document.

FAQ's