HDFC SL Super Income Plan is a traditional savings plan which promises regular incomes for a guaranteed term thus providing cash liquidity when needed and also provides life insurance coverage.
|
Option |
Term (years) |
PPT (years) |
Payout Period (years) |
Annual GBI (% of SA) |
Total GBI (% of SA) |
|
1 |
16 |
8 |
8 |
12.5% |
100% |
|
2 |
18 |
8 |
10 |
10% |
100% |
|
3 |
20 |
10 |
10 |
12% |
12% |
|
4 |
22 |
10 |
12 |
10% |
120% |
|
5 |
24 |
12 |
12 |
10% |
120% |
|
6 |
27 |
12 |
15 |
8% |
120% |
|
|
Minimum |
Maximum |
|
Entry Age (Last Birthday) |
30 days |
59 years |
|
Maturity Age (Last Birthday) |
18 years |
75 years |
|
Policy Term (PT) in years |
16 |
27 |
|
Premium Paying Term (PPT) in years |
8, 10, 12 |
|
|
Premium Paying Frequency |
Annual, half-yearly, quarterly, monthly |
|
|
Yearly Premium |
24,000 |
No limit |
|
Sum Assured |
128,337 |
No limit |
Annual premium in Rupees for a SA of 5 lakhs
|
Options / Age |
25 years |
35 years |
45 years |
|
Option 1 |
82,255 |
82,915 |
85,455 |
|
Option 2 |
79,345 |
80,070 |
82,750 |
|
Option 3 |
67,300 |
67,710 |
69,310 |
|
Option 4 |
64,390 |
64,785 |
66,330 |
|
Option 5 |
51,790 |
52,070 |
53,175 |
|
Option 6 |
47,980 |
48,265 |
49,310 |
Grace Period: For the payment of due premiums, a grace period of 15 days is provided for monthly mode and 30 days for other modes.
Policy Termination or Surrender Benefit: If the insured have duly paid all the premiums during the first 3 policy years, then he/she can surrender the policy. The surrender benefit is higher of special surrender value and guaranteed surrender value.
Guaranteed Surrender Value = (Guaranteed Surrender Factor) x (cumulative annual premiums paid including the GSV of accrued bonus).
Free Look Period: A free look period of 15 days is offered from the date of policy issue date. The owner of the insurance policy can cancel the policy if he/she does not liked the plan terms and conditions. However, there is one criteria that there should be no claim made during this period.
Additional Features or Riders
Rebate on opting for higher sum assured amount (4 lakhs and above).
Inclusions
The policyholder can apply for loan against this policy. However, the loan amount is not allowed to exceed 80% of the acquired Surrender Value.
Exclusions
Only 80 % of the premium paid is returned to the beneficiary in case of the policyholder’s death (suicide) within 12 months from the commencement of the policy. Same is the case with policyholder committing suicide Within 12 months from the renewal of the policy. However, if the surrender value is higher than 80% of the premiums paid, then the surrender value is paid out instead of refunding the premium partially.
Documents required while filling the application form are:-
You may also like to read: HDFC Standard Life Inssurance
Frequently Asked Questions
1. What are the coverage and exclusions that come under the policy?
Here, we have mentioned what are included in the policy and what are excluded from it.
Inclusions
The policyholder can apply for loan against this policy. However, the loan amount is not allowed to exceed 80% of the acquired Surrender Value.
Exclusions
Only 80 % of the premium paid is returned to the beneficiary in case of the policyholder’s death (suicide) within 12 months from the commencement of the policy. Same is the case with policyholder committing suicide Within 12 months from the renewal of the policy. However, if the surrender value is higher than 80% of the premiums paid till then, then the surrender value is paid out instead of refunding the premium partially.
2. What are the documents required while filling the application form?
Documents required while filling the application form are:
3. What are the benefits offered by the policy?
4. What are the key features of the policy?
The key features of the policy are-
