HDFC SL ProGrowth Super II is a Unit Linked Insurance Plan that provides life insurance coverage for total protection against uncertainties of life and the benefits of savings and investment options. Under this policy, the investment risk is borne by the insured person. According to all the HDFC SL ProGrowth Super II reviews, this insurance-cum-savings plan is an excellent choice for those looking for a plan that provides coverage for the whole family. It provides 8 different options and benefits to provide comprehensive coverage.Read more
Save Upto ₹46,800 in tax under Sec 80C
Inbuilt Life Cover
Tax Free Returns Unlike FD+
|Policy Tenure||10-30 years; as per plan option|
|Premium Paying Term||Annual|
|Premium Paying Mode||Regular Pay|
|Entry Age||14 -65 years; as per option selected|
|Maturity Age||65/70/75 years; as per plan option|
|Grace Period||30 days|
|Sum Assured (multiple)||Minimum: Age less than 45 years:
Maximum: 40 X Annualised Premium
|Liquidity||Partial Withdrawals applicable after the first five years of the policy tenure.|
Here is a rundown to the key benefits of HDFC SL ProGrowth Super II:
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.
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.
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.
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 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.
The maximum and minimum age that is required to be eligible for online HDFC SL ProGrowth Super II is as follows:
To buy HDFC SL ProGrowth Super II, the following documents must be furnished at the time of purchase:
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:
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:
For a complete list of exclusions, please refer to the policy document.
*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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