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

Best ULIP Plans
  • Guaranteed Tax Savings

    Guaranteed Tax Savings

    Under sec 80C & 10(10D)
  • savings

    ₹1 Crore

    Invest ₹10k Per Month*
  • Zero LTCG Tax

    Zero LTCG Tax

    Unlike 10% in Mutual Funds
Top performing plans with High Returns*
Invest ₹10K/month & Get ₹1 Crore returns*
+91
Secure
We don’t spam
Please wait. We Are Processing..
Your personal information is secure with us
Plans available only for people of Indian origin By clicking on "View Plans" you agree to our Privacy Policy and Terms of use #For a 55 year on investment of 20Lacs
Get Updates on WhatsApp
We are rated~
rating
6.7 Crore
Registered Consumers
51
Insurance Partners
3.4 Crore
Policies Sold

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    

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:

 

Minimum

Maximum

Entry Age (Last Birthday)

14 years

 65 years

Maturity Age (Last Birthday)

-

75 years

Policy Term (PT) in years

10

30

Premium Paying Term (PPT) in years

Equal to policy term

Premium paying Frequency

Annual

Yearly Premium

15,000

No limit

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:
    • 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

*All savings are provided by the insurer as per the IRDAI approved insurance plan. Standard T&C Apply
*Please note that the quotes shown will be from our partners
*Tax benefit is subject to changes in tax laws
~Source - Google Review Rating available on:- http://bit.ly/3J20bXZ

Ulip Insurer2
Disclaimer: Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by an insurer.
ulipInsurer_3
Average Rating
(Based on 0 Reviews)
Ulip Insurer4
Ulip Insurer1

Ulip plans articles

Recent Articles
Popular Articles
ICICI Pru Midcap 150 Momentum 50 Index Fund

31 Jan 2024

ICICI Prudential Life is launching an open-ended New Fund
Read more
ULIP Plan Riders

17 Jan 2024

ULIP or Unit Linked Insurance Plans provide rider benefits. They
Read more
ULIP Returns in 40 Years

08 Jan 2024

Estimating the ULIP returns over 40 years offers a unique
Read more
ULIP Returns in 35 Years

04 Jan 2024

A 35-year ULIP (Unit Linked Insurance Plan) emerges as an
Read more
ULIP Returns in 30 Years

03 Jan 2024

A 30-year ULIP (Unit Linked Insurance Plan) is a type of
Read more
ULIP Calculator
A ULIP Calculator is a financial tool designed to help you compare ULIP plans and estimate the maturity amount
Read more
ICICI Pru Midcap 150 Momentum 50 Index Fund
ICICI Prudential Life is launching an open-ended New Fund Offering (NFO) ICICI Prudential Life Midcap 150
Read more
7 Things to Know About the Tax Benefits of ULIPs
Nowadays, Unit Linked Insurance Plans, i.e., ULIPs, have evolved as the popular income tax saving investment
Read more
SBI Life Smart Privilege Plan: Benefits & Features
SBI Life Smart Privilege is a unit-linked, non-participating life insurance plan offered by SBI Life Insurance
Read more
11 ULIP Charges You Should Know About
Unit-Linked Insurance plan (ULIP) offers dual benefits of insurance and investment. Unlike traditional insurance
Read more

top

Become a Crorepati

Invest ₹10K/Month & Get ₹1 Crore returns*

Mobile +91
*T&C Applied.
Close
Download the Policybazaar app
to manage all your insurance needs.
INSTALL