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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 Life Smart Woman Plan
HDFC Life Smart Woman Plan is a Unit-Linked, Non-Participating Life Insurance Plan designed for women. It offers life insurance coverage along with benefits for pregnancy complications, female-specific cancers, and financial support for a spouse's death. You can also choose from investment options to grow your wealth.
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- HDFC Life Smart Woman Plan
What is the HDFC Life Smart Woman Plan?
HDFC Life Smart Woman Plan is a unique financial product designed specifically for women. It combines insurance coverage with investment benefits to address your needs at different life stages. Whether you're planning for motherhood, facing a critical illness, or coping with the loss of a spouse, this plan helps you stay financially secure. It provides comprehensive coverage for pregnancy complications, congenital conditions, and female-specific cancers. During these challenging times, the plan waives and funds your premiums for the next 3 years. This ensures your investment continues to grow uninterrupted while you focus on overcoming the challenges.
Features of HDFC Life Smart Woman Plan
The features of the HDFC Life Smart Woman Plan are:
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Protection & Investment: Get a life insurance benefit (sum assured) up to 40 times your annual premium along with investment growth potential.
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3 Benefit Options: Choose from Classic, Premier, and Elite options for different coverage needs.
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Waiver of Premium Benefit: Waiver of 3 years' premium on critical events like childbirth complications or female-specific cancers.
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Enhanced Cash Payouts (Premier & Elite): Get additional cash payouts during the policy term.
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Bonus from the 11th Year: Enjoy a higher allocation rate for your invested funds starting from the 11th year.
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Simplified Medical Checkup: Avail the plan with a Short Medical Questionnaire (SMQ).
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Eligibility Criteria for HDFC Life Smart Woman Plan
| Eligibility Criteria | Minimum | Maximum |
| Entry Age | 18 years | None |
| Entry Age For Female Life To Be Assured | 18 years | 45 years |
| Entry Age Of Spouse For Elite Option | 21 years | 50 years |
| Maturity Age For Female Life To Be Assured | 28 years | 60 years |
| Age Of Risk Cessation For Spouse In Elite Option | 31 years | 60 years |
| Annual Premium | ₹24,000 | ₹1,00,000 |
| Min-Max Sum Assured To (Age Less Than 45 Years) | 10x annualized premium | 40x annualized premium |
| Min-Max Sum Assured To (Age Equal To 45 Years) | 7x annualized premium | 40x annualized premium |
| Policy Term | 10 to 15 years | |
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Benefits of HDFC Life Smart Woman Plan
Here are the key benefits of HDFC Life Smart Woman Plan:
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Maturity Benefit:
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Upon policy maturity, you'll receive the Fund Value. This is calculated by multiplying the number of units you've accumulated in your chosen investment fund by the unit price on the maturity date. Essentially, you get back the money you've invested along with any potential growth from the market, and the best SIP to invest aligns with both time horizon and financial planning.
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Premium Waiver Benefit:
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This plan offers a valuable safety net if you face certain unforeseen events. In the case of:
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Pregnancy complications
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Birth of a child with a congenital disorder
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Diagnosis of malignant cancer of female organs
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HDFC Life will waive and fund 100% of your next 3 years' premiums. This ensures your policy stays active even if you're unable to pay the premiums due to these situations.
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Death Benefits:
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In the unfortunate event of your passing, your nominee will receive the higher of the following:
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Sum Assured (minus any withdrawals made in the past 2 years)
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Total Fund Value (market value of your accumulated units)
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105% of Premiums Paid
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This ensures your loved ones receive a financial safety net, regardless of the market performance.
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Policy Details of HDFC Life Smart Woman Plan
You can make lump sum partial withdrawals from your funds after 5 years, subject to certain conditions:
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Partial Withdrawals:
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A maximum of two partial withdrawals are allowed in a policy year, with a minimum gap of 3 months between each withdrawal.
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The minimum withdrawal amount is ₹10,000.
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After the withdrawal and charges, the fund value must be at least 150% of your annualized premium.
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The total withdrawal throughout the policy term cannot exceed 300% of the original regular premium.
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Grace Period: A grace period of 30 days is provided.
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Revival: The policy can be revived within three years from the date of the first unpaid premium. Surrender or revival options are available based on the policy type and period.
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Fund Switching Charges: Switching funds by the Policyholder incurs a fee of Rs 250 per request. However, using the Company’s web portal for the request reduces the charge to Rs 25 per request. This fee applies to transferring funds between available funds within the product, and it's charged at the time of the switch.
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Loan: No policy loans are available
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Exclusions Under HDFC Life Smart Woman Plan
The HDFC Life Smart Woman Plan excludes death by suicide within the first 12 months of the policy or its revival. In such cases, the nominee or beneficiary will receive the following:
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Fund Value: The policy will pay out the fund value available on the date of intimation of death.
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Refund of Charges: Any charges deducted after the death (except Fund Management Charges and guarantee charges) will be added back to the fund value.
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FAQs
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What are the benefit options available under the HDFC Life Smart Woman Plan?
The options available are:-
Classic
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Premier
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Elite
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What are the different investment fund options available under the HDFC Life Smart Woman Plan?
The investment funds available under the plan are:-
Income Fund
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Balanced Fund
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Blue Chip Fund
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Opportunities Fund
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Why should you choose the HDFC Life Smart Woman Plan?
HDFC Life Smart Woman Plan is a good option because:-
Sum Assured up to 40 times annual premium.
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Choose from 3 Benefit options: Classic, Premier, and Elite.
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Additional cash payouts under Premier and Elite.
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Premium Waiver Benefit for specific events.
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Enhanced Allocation Rate from 11th year.
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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