HDFC SL Super Savings Plan

HDFC SL Super Savings Plan is a traditional Endowment plan with bonus facility which provides a substantial corpus for future use and also provides life insurance coverage.

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  • 4.8++ Rated
  • 10.5 Crore Registered Consumer
  • 51 Partners Insurance Partners
  • 5.3 Crore Policies Sold

Investment Plans

  • Plan starting from ₹1,000/month
  • Save upto ₹46,800 in Tax under section 80C^
  • Zero LTCG Tax
  • In built life cover
Top performing plans˜ with High Returns**
Invest ₹10K/Month & Get ₹1 Crore# Tax-Free*
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10.5 Crore
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5.3 Crore
Policies Sold
Disclaimer: #The investment risk in the portfolio is borne by the policyholder. Life insurance is available in this product. The maturity amount of Rs 1 Cr. is for a 30 year old healthy individual investing Rs 10,000/- per month for 30 years, with assumed rates of returns @ 8% p.a. that is not guaranteed and is not the upper or lower limits as the value of your policy depends on a number of factors including future investment performance. In Unit Linked Insurance Plans, the investment risk in the investment portfolio is borne by the policyholder and the returns are not guaranteed. Maturity Value: ₹1,05,02,174 @ CAGR 8%; ₹50,45,591 @ CAGR 4%. *Tax benefits and savings are subject to changes in tax laws. All plans listed here are of insurance companies’ funds.

HDFC SL Super Savings - Key Features

  • It’s a participating endowment plan with regular premium payment option
  • Simple reversionary bonus, Interim Bonus and Terminal Bonus increase the corpus. 

HDFC SL Super Savings - Benefits

  • On maturity, the Sum Assured and accrued bonuses is paid to policy owner including Terminal Bonus, if any.
  • If the insured dies then higher of the sum assured or ten times the annual premium or 105% of the total paid premium is payable + accrued reversionary bonuses and Terminal Bonus is also payable if any.
  • Additional sum assured is paid in case of Accidental Death
  • The insured can avail tax deduction on the premium paid and the claim made according sections of Income Tax Act i.e.80C and 10(10D).   

HDFC SL Super Savings - Product Specification

 

Minimum

Maximum

Entry Age (Last Birthday)

30 days

60 years

Maturity Age (Last Birthday)

18 years

75 years

Policy Term (PT) in years

15

30

Premium Paying Term (PPT) in years

Equal to policy term

Premium Paying Frequency

Annual, half-yearly, quarterly, monthly

Yearly Premium

24,000

No limit

Sum Assured

245,145

No limit

 

Details About Premium

Annual premium in Rupees for a SA of 2 lakh

Age / Term

15 years

20 years

30 years

35 years

15,226

11,626

8118

40 years

15,424

11,864

8444

45 years

15,750

12,246

8976

HDFC SL Super Savings - Policy Details

Grace Period: If the insured fails to pay premiums on time then a grace period of 15 days if provided by the insurer, under which they can un-due the premiums. The policy lapses in case the insured fails to clear all the dues during this period. 

Policy Termination or Surrender Benefit: After three complete years the insured can surrender the policy if he/she has thoroughly paid the premiums. The sum amount provided as surrender benefit will be higher of the special surrender or the guaranteed surrender value.

GSV = GSV Factor X cumulative annual premiums paid including the GSV of vested bonuses

Free Look Period: 15 days free look period is provided by the insurance company to the insured. In this free look period the owner of the policy can go for cancellation of the policy if he/she is dissatisfied with the policy terms and conditions.

Additional Features or Riders

    There is an inbuilt Accidental Benefit Rider

Inclusions

The policy owner has an option of loan availability if it does not exceed 80% of the total surrender value.

Exclusions

  • 80% of the paid premiums are returned to the beneficiary, if the insured commits suicide within 12 months of policy issuing date. In case of suicide within 12 months of the policy renewal, surrender benefit or 80% of the premium paid whichever is higher is paid to the beneficiary.
  • The accidental benefit will not be paid if accident is caused by self-inflicted injury, alcohol abuse, participating in hazardous activities, war, aviation or acts of criminal nature.

Documents Required

The documents required to avail the policy are-

  • KYC Documents
  • Address Proof
  • Medical History
  • In some cases medical test can be required based on the age of the customer. 

You may also like to read: HDFC Life Investment Plans

˜Top 5 plans based on annualized premium, for bookings made in the first 6 months of FY 24-25. Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by any insurer. This list of plans listed here comprise of insurance products offered by all the insurance partners of Policybazaar. For a complete list of insurers in India refer to the Insurance Regulatory and Development Authority of India website, www.irdai.gov.in
*All savings are provided by the insurer as per the IRDAI approved insurance plan. Standard T&C Apply
^The tax benefits under Section 80C allow a deduction of up to ₹1.5 lakhs from the taxable income per year and 10(10D) tax benefits are for investments made up to ₹2.5 Lakhs/ year for policies bought after 1 Feb 2021. Tax benefits and savings are subject to changes in tax laws.
¶Long-term capital gains (LTCG) tax (12.5%) is exempted on annual premiums up to 2.5 lacs.
++Source - Google Review Rating available on:- http://bit.ly/3J20bXZ

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Disclaimer: Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by an insurer.
Average Rating
(Based on 1286 Reviews)

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