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In Unit Linked Insurance Policies, the investment risk is borne by the policyholder. These insurance products do not offer any liquidity in the first 5 years, as they have a mandatory lock-in period of 5 years. During this period, the policyholder cannot fully or partially withdraw the invested amount or surrender the policy.
HDFC SL Invest Wise Plan
Introduction/Overview
HDFC Standard Life Invest Wise Plan is a Unit Linked Insurance plan providing the dual benefit of capital appreciation through market participation and life insurance coverage. The plan has a fixed policy term and Sum Assured option.
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HDFC Life Ulip Plans
- HDFC SL Invest Wise Plan
Key Features
- It is a unit linked plan with Single Pay option of premium payment
The following 4 funds are available for investment
- Blue chip Fund
- Opportunities Fund
- Balanced Fund
- Income Fund
Benefits
- The insured will get the total Fund Value on Maturity
- Maturity Proceeds can be availed in equal instalments post maturity over a period of 5 years through the Settlement Option
- On death of the policyholder, higher of the Sum Assured net of partial withdrawals made 2 years prior to death or Fund Value or 105% of premiums paid is payable to the nominee if age attained was less than 60 years
- If age attained was equal to or more than 60 years, higher of Sum Assured net of partial withdrawals made after age 58 years or Fund Value or 105% of premiums paid is payable, and long-term stability defines the best SIP investment
- Income tax benefit on the premium paid as per Section 80C and on claims under Section 10(10D) of the Income Tax Act.
Product Specification:
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Minimum |
Maximum |
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Entry Age (Last Birthday) |
45 years |
70 years |
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Maturity Age (Last Birthday) |
60 years |
85 years |
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Policy Term (PT) in years |
15 |
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Premium Paying Term (PPT) in years |
Single Pay |
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Single Premium |
25,000 |
No limit |
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Sum Assured |
110% of Single Premium |
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Latest ULIP NAVs
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Policy Details
Grace period: no application of grace period in single pay plans
Policy termination or Surrender Benefit: Policyholder is allowed to surrender the policy after 5 completed years. If surrendered before 5 years, the fund value net of discontinuation charge will be credited to the Discontinued Policy Fund where it will earn a minimum of 4% p.a. growth. After completion of 5 years, the fund value in the Discontinued Policy fund as on that date will be paid to the policyholder. If surrendered after 5 completed policy years, the entire Fund value on the date of surrender is paid without any charges
Free look period: If you would not be pleased with the coverage, and terms and conditions of the policy, you have the option of canceling the policy within 15 days of receipt of the policy documents, provided there has been no claim.
Inclusions
- Partial withdrawals are allowed every year with a minimum value of Rs.10,000
- Switches are allowed every year for switching between funds
Exclusions
- The benefit paid in case of suicide within 12 months of policy inception or revival is the fund value as on that date.
Documents Required
Policyholder has to fill up an ‘Application form/ proposal form’ with accurate medical history and submit KYC documents.
Insurers Offering ULIPs
Disclaimer: Policybazaar Insurance Brokers Private Limited does not endorse, rate or recommend any particular insurer or insurance product offered by an insurer.
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˜The insurers/plans mentioned are arranged in order of highest to lowest first year premium (sum of individual single premium and individual non-single premium) offered by Policybazaar’s insurer partners offering life insurance investment plans on our platform, as per ‘first year premium of life insurers as at 31.03.2025 report’ published by IRDAI. Policybazaar Insurance Brokers Private Limited does not endorse, rate or recommend any particular insurer or insurance product offered by any insurer. For complete list of insurers in India refer to the IRDAI 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