HDFC Life Wealth Builder Plan

HDFC Life Wealth Builder Plan is a Unit Linked Insurance Plan (ULIP) offered by HDFC Life. It is a single premium plan, meaning you pay a lump sum amount upfront. The plan offers a combination of life insurance coverage and investment potential.

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What is the HDFC Life Wealth Builder Plan?

HDFC Life Wealth Builder Plan is a unique single premium Unit Linked Insurance Plan (ULIP). With this investment plan, you make a one-time lump-sum payment and have the flexibility to choose a life insurance cover up to 10 times the single premium amount. 

You also have maturity return benefits from market-linked investment options over 5 or 10 years. Additionally, you can self-manage your savings by selecting from a variety of unit-linked funds and investment strategies tailored to your risk preferences.

Features of HDFC Life Wealth Builder Plan

  • Single Premium Payment: You pay a one-time lump sum amount.

  • Policy Term: Choose either 5 or 10 years.

  • Life Insurance Cover: Get life insurance coverage for the entire policy term. The death benefit is paid out to your nominee if you die during the policy term.

  • Investment Potential: Invest your money in unit linked funds. The returns are market-linked, which means they depend on the performance of the stock market.

  • Choice of Funds: Choose from 8 different unit linked funds to suit your risk appetite.

  • Free Fund Switches: You can switch between funds unlimited times without any charges.

  • Maturity Benefit: On maturity, you receive the fund value, which is the market value of your units. 

  • Return of Mortality Charges: In case of a 10 year policy term, 50% of the mortality charges are returned as well.

People also read: HDFC Life ULIP Plans

Eligibility Criteria

Eligibility Criteria  Details
Entry Age 8 – 65 years
Maturity Age 18 – 75 years
Premium Payment Term (PPT) Single Pay
Policy Term (PT) 5/ 10 years
Premium Amount ₹1,00,000 - No Limit
Top-up Premium Amount ₹10,000 - ₹40,00,000 
Sum Assured (SA) Entry Age Maximum SA Minimum SA
< 44 years 10 × Single Premium 1.25 × Single Premium
= 44 years 1.25 × Single Premium 1.25 × Single Premium
≥ 44 years 1.25 × Single Premium 1.25 × Single Premium
Additional Sum Assured Age when Premium Top-up Maximum Additional Sum Assured Minimum Additional Sum Assured
< 45 years 1.25 × Top-up Premium 1.25 × Top-up Premium
≥ 45 years 1.25 × Top-up Premium 1.25 × Top-up Premium

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Benefits of HDFC Life Wealth Builder Plan

The HDFC Wealth Builder Plan offers the following key benefits:

  1. Maturity Benefit:

    Policy Term of 5 years:

    • Receive the fund value on the maturity date.

    • Fund Value = NAV at maturity X number of units at maturity.

    Policy Term of 10 years:

    • Fund Value on Maturity: Calculated as NAV at maturity X number of units at maturity. 

    • 10-year Loyalty Benefit: 50% of total mortality charges deducted during the policy term (excluding GST) added to the fund value.

  2. Options for Utilizing Maturity Benefit:

    The following two options are available to utilize the maturity benefit as per the chosen policy term:

    • Lump Sum: Receive the entire maturity benefit as a lump sum.

    • Settlement Payout: Receive part of the maturity benefit as a lump sum and the rest in equal instalments over 5 years after maturity.

  3. Death Benefit:

    The HDFC Life Wealth Builder Plan offers the higher of the following:

    • Sum Assured or 105% of premiums paid or fund value.

    • Payable to the beneficiary in case of death during the policy term.

  4. Non-Negative Claw-Back Additions:

    Specified non-negative claw-back additions may be added to fund value after the first five policy years.

  5. Partial Withdrawal Benefit:

    Unlimited partial withdrawals are allowed after 5 Policy Years.

  6. Fund Switching:

    Unlimited free switches between funds are allowed during the policy term.

  7. Settlement Payout:

    Receive maturity amount partially in a lump sum and balance in installments over 5 years.

  8. Surrender/Policy Discontinuance:

    Flexibility to surrender policy during the term for surrender benefits.

  9. Tax Benefits:

    • Eligible for tax benefits under Sections 80C and 10(10D) of the Income Tax Act, 1961.

    • Tax benefits are applicable on premiums paid and maturity proceeds.

    • Policyholders below 44 years can choose Sum Assured as 1.25 or 10 times the single premium for tax benefits.

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Investment Strategies in HDFC Life Wealth Builder Plan

  • Custom Investment Choices: Choose from 8 unit-linked funds with varying debt-to-equity ratios to match your risk tolerance and financial goals.

  • Automatic Portfolio Adjustment: This predefined strategy ensures your portfolio adapts as your goals change, reducing equity exposure as your policy matures. This protects your investment from potential downturns in the equity market without requiring your manual intervention.

  • Smart Wealth Protection: You can safeguard your wealth from market fluctuations with this methodical approach. It uses a rupee cost averaging method, particularly beneficial if you prefer gradual investment in equities. This strategy operates for the initial 36 months of your chosen policy term. If you opt for this plan, the received Single Premium, after deducting the Premium Allocation Charge, will be first allocated to the Individual Preserver Fund to purchase Units.

Policy Details of HDFC Life Wealth Builder Plan

The key policy details of this best investment plan are as follows:

  1. Free Look Period:

    • You can cancel the policy within 15 days (30 days for Distance Marketing) if you disagree with the terms.

    • Refund includes non-allocated premium, cancellation charges, fund value at cancellation date, minus fees and charges.

    • All benefits and rights terminate immediately upon cancellation.

  2. Policy Commencement:

    • Policy starts immediately from its commencement date.

    • If the Life Assured is under 12 years old, full death benefit begins from the last day of the 2nd policy year.

    • No mortality charges are levied until the start of full death benefit.

  3. Assignment Provisions:

    • Assignment must comply with Section 38 of the Insurance Act 1938, as amended.

  4. Nomination Provisions:

    • Nomination must comply with Section 39 of the Insurance Act 1938, as amended.

    • Calculation formula provided for nomination.

People also read: What is ULIP

How Does the Plan Work

Step 1: Choose your desired policy term, premium amount, and sum assured for your life insurance cover.

Step 2: Select an investment strategy or fund where your premium will be invested.

Step 3: Enjoy the benefits:

  • Provide financial protection to your family in case of an unfortunate event.

  • Maximize your returns by managing your funds through fund switching.

  • Achieve your interim financial goals at various milestones through partial withdrawals.

Step 4: Financial Benefits:

  • Upon maturity, receive the maturity amount based on the chosen maturity option.

  • In the unfortunate event of the life assured's death, the life insurance cover will be paid to the beneficiary.

Exclusions

If the policyholder dies by suicide within 12 months of starting the policy or its revival, the nominee will receive the fund value as of the date of death notification. Additionally, any charges, except Fund Management Charges (FMC) and guarantee charges, imposed after the death date will be reimbursed and added back to the fund value.

FAQs

  • What is HDFC Life Wealth Builder Plan?

    The HDFC Life Wealth Builder Plan is a single-premium Unit Linked Insurance Plan (ULIP). This means you pay a lump sum amount upfront, and the money gets invested in market-linked funds with the potential for growth over a chosen term of 5 or 10 years. It also provides life insurance coverage for your loved ones during the policy term.
  • Who is the HDFC Life Wealth Builder Plan suitable for?

    The HDFC Life Wealth Builder Plan is ideal for individuals looking for a way to grow their wealth over a specific period while also having life insurance protection. It can be suitable for those saving for a goal or accumulating a corpus.
  • What are the investment options with HDFC Life Wealth Builder Plan?

    The HDFC Life Wealth Builder Plan offers a choice of 8 unit-linked funds catering to different risk appetites. These include equity and debt funds, allowing you to create an investment strategy that aligns with your risk tolerance.
  • What are the benefits of the HDFC Life Wealth Builder Plan?

    The key benefits of HDFC Life Wealth Builder Plan are as follows:
    • Potential for market-linked returns on your investment

    • Life insurance cover for your chosen term

    • Flexibility to choose your investment strategy with various fund options

    • Option for free fund switching within the policy term

    • Receive the fund value accumulated over the policy term as a maturity 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
^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 Wealth Builder 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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