HDFC SL ProGrowth Maximiser - Single Premium ULIP Plan

HDFC SL ProGrowth Maximiser Details:

Benefits of the HDFC SL ProGrowth Maximiser - Single Premium ULIP Plan

• Maturity Benefit: When the policy ceases at the end of the term, the Fund Value prevailing on the date of maturity will be paid to the insured. It can be taken in instalments over 5 years, paid monthly, quarterly, half-yearly, or annually.  The Fund Value will depend on the investments chosen by the insured and will be subject to investment risk.  
• Death Benefit: In the unfortunate event of the death of the insured, the death benefit will be paid to the nominee, which is calculated as:

• If the insured was below 60 years of age, he is entitled to the higher of the Total Fund Value or the Sum Assured after removing all withdrawals done during the 2 years preceding the date of death except top-up fund value. 
• If the insured is equal to or above 60 years of age, he is entitled to the higher of the Total Fund Value or the Sum Assured after removing all withdrawals done after age 58 except top-up fund value. 

The Minimum Death Benefit under this plan will be 105% X paid premiums, including top-ups.  

• Partial Withdrawal Benefit: the insured can make lump sum partial withdrawals from the funds after 5 years post the premium payment date subject to the conditions specified in the policy document. 
• Surrender Benefit: If the policyholder surrenders the policy after 5 years, then the Fund Value will be paid to him.  

If the policyholder surrenders the policy before the end of 5 years from commencement, the fund value will be moved to the "Discontinued Policy Fund" and will earn a minimum guaranteed return specified by the IRDAI. This Fund value will be paid to the insured at the end of the 5th policy year. In case of the death of the policyholder, before the Surrender Benefit is paid, the amount in the discontinued policy fund will be paid out right away. 

• Tax Benefit: The premiums paid, and the benefits received through the HDFC SL ProGrowth Maximiser Single Premium ULIP Plan are eligible for tax benefits, as per Section 10(10D) and Sec 80 C of the Income Tax Act, 1961*.

*Tax benefit is subject to changes in tax laws

*Standard T&C apply

The premium for HDFC SL ProGrowth Maximiser - Single Premium ULIP Plan

The Minimum Premium payable under this policy is Rs. 50,000 P.A and the Maximum Premium payable has no limit and is as per the board approved guidelines.

The Minimum Single Premium top-up allowed under this policy is Rs. 10,000, and the Maximum Single Premium Top-up per policy allowed has no limit. 

Applicants can use HDFC SL ProGrowth Maximiser Single Premium ULIP Insurance calculator available online to get an idea about the exact Premium to be paid based upon the details provided.

*Standard T&C apply

Additional Riders for HDFC SL ProGrowth Maximiser - Single Premium ULIP Plan

There are no additional riders that can be availed under this policy.

Eligibility for HDFC SL ProGrowth Maximiser - Single Premium ULIP Plan

Entry Age: 14 years to 65 years

Maturity Age: Maximum 75 years

What are the documents required to buy this policy?

To buy HDFC SL ProGrowth Maximiser – Single Premium ULIP Policy, applicants must provide:

• Documents for identity proof such as Aadhar card, Passport or Driver's License
• Documents for address proof such as Aadhar card, passport, driver license or voter ID
• Documents for income proof such as salary slips and Income Tax returns

How to buy this plan online?

The subscriber must follow the steps given below to buy online HDFC SL ProGrowth Maximiser – Single Premium ULIP Plan:

• Visit the official website of HDFC bank and Login to NetBanking.
• Click on the "Insurance" tab and choose the HDFC SL ProGrowth Maximiser – Single Premium ULIP Plan.
• Fill in the personal and policy details to get the estimated Premium to be paid
• Make the premium payment and secure the copy of the policy.  

Exclusions of HDFC SL ProGrowth Maximiser - Single Premium ULIP Plan

HDFC SL ProGrowth Maximiser – Single Premium ULIP Insurance reviews suggest that it is quite a comprehensive plan; it does have suicide exclusion.  

In the event of the death of insured due to suicide within a year from the policy commencement date or the policy revival date, the nominee of the policyholder will be eligible for receiving the Fund Value as on the date of death. Any charges recovered post-death of the insured will be paid back to the beneficiary along with the death benefit.  

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