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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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:

  • Protection & Investment: Get a life insurance benefit (sum assured) up to 40 times your annual premium along with investment growth potential.

  • 3 Benefit Options: Choose from Classic, Premier, and Elite options for different coverage needs.

  • Waiver of Premium Benefit: Waiver of 3 years' premium on critical events like childbirth complications or female-specific cancers.

  • Enhanced Cash Payouts (Premier & Elite): Get additional cash payouts during the policy term.

  • Bonus from the 11th Year: Enjoy a higher allocation rate for your invested funds starting from the 11th year.

  • 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:

  1. Maturity Benefit:

    • 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.

  2. Premium Waiver Benefit:

    • This plan offers a valuable safety net if you face certain unforeseen events. In the case of:

      • Pregnancy complications

      • Birth of a child with a congenital disorder

      • Diagnosis of malignant cancer of female organs

    • 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.

  3. Death Benefits:

    • In the unfortunate event of your passing, your nominee will receive the higher of the following:

      • Sum Assured (minus any withdrawals made in the past 2 years)

      • Total Fund Value (market value of your accumulated units)

      • 105% of Premiums Paid

    • 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:

  • Partial Withdrawals: 

    • A maximum of two partial withdrawals are allowed in a policy year, with a minimum gap of 3 months between each withdrawal.

    • The minimum withdrawal amount is ₹10,000.

    • After the withdrawal and charges, the fund value must be at least 150% of your annualized premium.

    • The total withdrawal throughout the policy term cannot exceed 300% of the original regular premium.

  • Grace Period: A grace period of 30 days is provided.

  • 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.

  • 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.

  • 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:

  • Fund Value: The policy will pay out the fund value available on the date of intimation of death. 

  • Refund of Charges: Any charges deducted after the death (except Fund Management Charges and guarantee charges) will be added back to the fund value. 

FAQs

  • What are the benefit options available under the HDFC Life Smart Woman Plan?

    The options available are: 
    • Classic 

    • Premier 

    • Elite 

  • 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

    • Balanced Fund

    • Blue Chip Fund

    • Opportunities Fund

  • 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.

    • Choose from 3 Benefit options: Classic, Premier, and Elite.

    • Additional cash payouts under Premier and Elite.

    • Premium Waiver Benefit for specific events.

    • Enhanced Allocation Rate from 11th year.

*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
^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.
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HDFC Life Smart Woman Plan Reviews & Ratings

4.1 / 5 (Based on 26 Reviews)
(Showing Newest 10 reviews)
Raju
, September 02, 2021
Proactive helpdesk
While purchase HDFC Life Click 2 Protect Life plan from policy bazaar, I wanted to check the policy specifications. As soon as I contacted the helpdesk, the executive resolved my queries and sent the policy brochure to my email for future reference. Such a proactive team highly impressed with them.
Arjun
Adoor, March 19, 2019
A good retirement plan
As said “Easy comes, easy go” therefore i choose to invest in HDFC Life ULIP Plans. As per company plans it will pay higher than the fund value of all premium paid. I found HDFC Life ULIP Policy attractive and a good retirement plan.
Ravi
Mishrpur, September 21, 2016
Good
I found nice ulip insurance policy which i took from hdfc standard life insurance. Premium of the policy is very less. Payback is very good and the policy coverage is high. Claiming process is easy and amount is good after maturity of insurance policy.
Vikram
Korba, August 22, 2016
ULIP Plan
The ulip insurance plan of mine is fantastic which has low premium and come's in less investment too. The hdfc life insurance is the best terms and conditions which facilitates me many benefits. The policy coverage is high approx. 90% and easy online renewal is possible with online portal.
Mukesh
Gurgaon, May 06, 2016
best service
overall best service good conversation with the financial adviser...
Rohit
Raipur, April 15, 2016
Fantastic plan
My ulip policy plan is really nice, i.e., HDFC standarad life insurance. It has good benefits and services. Policy coverage is 89% and claims are around 39 L. Service is very good and fast that's why the work is done in very shot time period. I like it.
Sandeep
Jalpaiguri, April 15, 2016
Perfect
I have ulip plan from hdfc standard life insurance. The plan works for me. Policy coverage is also good with claiming amount of Rs.41 L. Service provided by you is awesome and fabulous with fast interface. Good future investment.
Harish
Chattarpur, April 15, 2016
Better Plan
My ulip policy plan is from hdfc standard life insurance and the policy is the best because the policy has many benefits like the accident insurance is inbuilt in this policy. Policy coverage is high 89% and the premiums are low. Claims are 1.25 times of the investment. The service is fast and very quick. Great job guys.
Ishant
Pondicherry, April 15, 2016
Above Average
The hdfc life ulip plan policy i have and happy to own it. The policy coverage is 81% and the claims are normal. Services are little bit slow provided by the staff members. Good future investment which saves tax also. Just improve the services and even the web services are better. Good Work.
Umakant
Karnal, April 15, 2016
Manageable
Policy premiums are low and the claims are high. HDFC ulip policy plan facilitate the people provide good response. One of my friend introduced this company for insurance. Getting reminders regularly and sum assured is double. Accidental and risk coverage is there. Good service by executives. I like it.
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