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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 ProGrowth Super II Plan
HDFC SL ProGrowth Super II is a ULIP plan providing investment option and life insurance coverage for complete protection and savings
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HDFC Life Ulip Plans
- HDFC SL ProGrowth Super II Plan
HDFC SL ProGrowth Super II -Key Features
- It is a ULIP plan with Regular Pay option.
- Accidental Death benefit, Critical Illness benefit and Accidental Total & Permanent Disability (ATPD) benefit are inbuilt add-ons of the plan.
- There are 8 coverage options under the plan:
- Life Option – Death Benefit
- Extra Life Option – Death Benefit + Accidental Death Benefit
- Life & Health Option – Death Benefit + Critical Illness Benefit
- Extra Life & Health Option – Death Benefit + Critical Illness Benefit + Accidental Death Benefit
- Life & Disability Option – Death Benefit + ATPD Benefit
- Extra Life & Disability Option – Death Benefit + Accidental Death Benefit + Accidental Total and Permanent Disability Benefit
- Life & Health & Disability Option – Death Benefit + Critical Illness Benefit + Accidental Total and Permanent Disability Benefit
- Extra Life & Health & Disability Option – Death Benefit + Accidental Death Benefit + Critical Illness Benefit + ATPD Benefit
- The plan offers 4 funds options for investment-
- Blue chip Fund
- Opportunities Fund
- Balanced Fund
- Income Fund
Latest ULIP NAVs
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HDFC SL ProGrowth Super II - Benefits
- On maturity, the insured receives the total fund value as maturity benefits.
- The policyholder can avail maturity proceeds in equal instalments through the settlement options over a period of 5 years.
- On demise of the policyholder, the total sum assured and fund value subject to a minimum of 105% of paid premiums is payable to the nominee.
- In case the policyholder is diagnosed with a Critical Illness, total of Sum Assured and Fund Value is paid under the Critical Illness Benefit.
- Under the Accidental Total and Permanent Disability benefit, 10% of the sum assured is paid every year for the benefit payout term which is lower of 10 years or term end of one year form the date of disability.
- An additional Accidental Death Benefit equal to the SA is payable if the policyholder is killed in an accident.
- The insured can avail tax benefit under section 80C and 10(10D) of Income Tax Act, on the premiums paid and the claim made respectively.
HDFC SL ProGrowth Super II - Product Specification:
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Minimum |
Maximum |
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Entry Age (Last Birthday) |
14 years |
65 years |
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Maturity Age (Last Birthday) |
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75 years |
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Policy Term (PT) in years |
10 |
30 |
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Premium Paying Term (PPT) in years |
Equal to policy term |
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Premium paying Frequency |
Annual |
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Yearly Premium |
15,000 |
No limit |
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Sum Assured |
Higher of 10*annual premium or 0.5*term*annual premium for ages<45 yrs. Or Higher of 7*annual premium or 0.25*term*annual premium |
40*annual premium |
HDFC SL ProGrowth Super II - Policy Details
Grace Period: A 30 days’ grace period is offered to the insured during which they can pay the premiums.
If the policyholder failed to pay his/her premium on time, then he/she has to clear all his/her dues within the grace period. If he/she again fails to pay before the grace period ends, the policy will lapse.
Policy Termination or Surrender Benefit: After the completion of 5 years, the insured can surrender the policy. In case he/she surrenders it before 5 years, then discontinuation charges will be deducted from the total fund value and the remaining amount will be credited to the surrendered policy fund where a minimum of 4% per annum growth will be earned. After the completion of 5 years, the fund value in the discounted policy till that date will be paid out to the insured. If surrendered after 5 completed policy years, the entire Fund value on the date of surrender is paid without any additional charges.
Free Look Period: A free look period is an option, provided to the policyholder, under which he/she can cancel the policy within 15 days of the policy issue date, if he/she does not like the terms and conditions of the policy. However, there should be no claim made during this period.
Inclusions
- The insured is allowed to make partial withdrawal every year with a minimum value of Rs10,000/-.
- For switching between funds, free switches are allowed every year
- Future premiums can be redirected to a new fund via the Premium Redirection option.
Additional Features or Riders
The plan can be availed with minimal underwriting using a Short Medical Questionnaire.
People Also Read: HDFC Life Flexi Cap Fund NFO
Exclusions
- Within 12 months of policy inception, if the insured commits suicide, then 80% of the total premium paid is provided to the beneficiary.
- In case of Accidental Death Benefit, Critical Illness Benefit and ATPD benefit, following instances are excluded from the 0policy:
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- Critical Illness or Accidental death due to intentional self-inflicted injury, alcohol abuse, war, aviation, criminal activities, or radiation or due to participating in hazardous activities etc.
Documents Required
While filling the application form, the policyholder has to submit a copy of accurate medical history along with the KYC documents.
| You may also like: HDFC Life ProGrowth Plus ULIP Plan |
Frequently Asked Questions
1. What is the minimum and maximum entry age of the policy?
The minimum and maximum entry age of the policy is from 14 years to 65 years.
2. What is the maximum maturity age of the policy?
The maximum maturity age of the policy is 75 years.
3. What is the minimum and maximum tenure of the policy?
The minimum and maximum tenure of the policy is from 10 years to 30 years.
4. What are the Coverage options available under the policy?
The eight coverage options under the plan are as follows:
- Life Option – Death Benefit
- Extra Life Option – Death Benefit + Accidental Death Benefit
- Life & Health Option – Death Benefit + Critical Illness Benefit
- Extra Life & Health Option – Death Benefit + Critical Illness Benefit + Accidental Death Benefit
- Life & Disability Option – Death Benefit + ATPD Benefit
- Extra Life & Disability Option – Death Benefit + Accidental Death Benefit + Accidental Total and Permanent Disability Benefit
- Life & Health & Disability Option – Death Benefit + Critical Illness Benefit + Accidental Total and Permanent Disability Benefit
- Extra Life & Health & Disability Option – Death Benefit + Accidental Death Benefit + Critical Illness Benefit + ATPD Benefit
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