HDFC Life Wealth Elite Plan

The HDFC Life Wealth Elite Plan is an investment plan that helps you save money and protect it for the future. This is a single premium Unit Linked Insurance Plan (ULIP) which offers a combination of life insurance coverage and potential for wealth creation over a chosen term of 5 or 10 years.

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  • 4.8~ Rated
  • 7.7 Crore Registered Consumer
  • 50 Partners Insurance Partners
  • 4.2 Crore Policies Sold

ULIP Plans

  • Plan starting from ₹1,000/month
  • Save upto ₹46,800 in Tax under section 80C^
  • Zero LTCG Tax
  • In built life cover
Top performing plans with High Returns**
Invest ₹10K/month & Get ₹1 Crore# on Maturity
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rating
7.7 Crore
Registered Consumer
50
Insurance Partners
4.2 Crore
Policies Sold
Disclaimer: #The investment risk in the portfolio is borne by the policyholder. Life insurance is available in this product. The maturity amount of Rs 1 Cr. is for a 30 year old healthy individual investing Rs 10,000/- per month for 30 years, with assumed rates of returns @ 8% p.a. that is not guaranteed and is not the upper or lower limits as the value of your policy depends on a number of factors including future investment performance. In Unit Linked Insurance Plans, the investment risk in the investment portfolio is borne by the policyholder and the returns are not guaranteed. Maturity Value: ₹1,05,02,174 @ CAGR 8%; ₹50,45,591 @ CAGR 4%. *Tax benefits and savings are subject to changes in tax laws. All plans listed here are of insurance companies’ funds.

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Disclaimer :
Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by any insurer. This list of plans listed here comprise of insurance products offered by all the insurance partners of Policybazaar. The sorting is based on past 10 years’ fund performance (Fund Data Source: Value Research). For a complete list of insurers in India refer to the Insurance Regulatory and Development Authority of India website, www.irdai.gov.in

What is HDFC Life Wealth Elite Plan?

HDFC Life Wealth Elite is a Unit-Linked Insurance Plan (ULIP) designed for high-net-worth individuals (HNIs) by HDFC Life. This plan combines long-term wealth creation through market-linked returns with life insurance coverage. 

This best investment plan for people with high net worth invests a portion of your premium towards life insurance while the remaining amount in the stock market. The returns you get will depend on the performance of the chosen funds.

Features of HDFC Life Wealth Elite Plan

  • High Life Cover: The plan offers a death benefit based on the higher of 10 to 201 times the annual premium, fund value, or 105% of premiums paid. For those joining at 45 and above, the maximum death benefit is 7 or 10 times the annual premium.

  • Investment Options: You can choose from equity and debt funds, with automatic asset allocation based on your age and proximity to maturity.

  • Flexibility: You can switch between funds unlimited times during the policy term. You can also opt to receive the maturity amount in installments over a five-year period.

  • Tax Benefits: Premiums eligible for a tax deduction of up to ₹1.5 lakhs under Section 80C. Maturity amount is tax-free for premium payments below ₹2.5 lakhs under Section 10(10D).

Eligibility Criteria

Eligibility Criteria  Details
Entry Age 0 – 65 years
Maturity Age 75 years
Premium Payment Term (PPT) Regular PPT: Same as Policy Term
Limited PPT: 10 years
Policy Term (PT) 10 – 20 years
Premium Payment Frequency Monthly, Half-Yearly, Annually
Premium Amount Annual: ₹2,00,000 - No Limit;
Semi-Annual: ₹1,00,000 - No Limit;
Monthly: ₹20,000 - No Limit;
Sum Assured (SA) Entry Age Maximum SA Minimum SA
≤ 44 years 10 × Annualized Premium (7 only) × Annualized Premium
> 44 years 20 × Annualized Premium (10 only) × Annualized Premium

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Benefits of HDFC Life Wealth Elite Plan

  1. Maturity Benefit:

    • Upon policy maturity, you get the Fund Value on the maturity date.

    • The maturity benefit is calculated as: (NAV at maturity X number of units at maturity).

    • You have two options for utilizing the maturity benefit:

      • Lump Sum: Receive the fund value as a lump sum on the maturity date.

      • Settlement Payout: Receive the fund value in equal monthly, quarterly, half-yearly, or annual instalments over 5 years (referred to as the settlement period).

  2. Death Benefit:

    • HDFC Life Wealth Elite provides financial protection in case of an unfortunate event.

    • After the risk commencement, the higher of Sum Assured or 105% of premiums paid or fund value is payable to the eligible person in case of the life assured's death during the policy term.

  3. Partial Withdrawal Benefit:

    • You can make unlimited partial withdrawals after completing 5 policy years.

    • Partial withdrawals are subject to conditions such as a minimum amount of ₹5,000 and a maximum amount equal to 25% of the fund value.

  4. Fund Switching:

    • You can switch between funds based on equity market performance.

    • Unlimited free switches are allowed during the policy term and during the settlement payout.

  5. Premium Redirection:

    • Premium redirection allows you to allocate future premiums differently from the prevailing fund composition.

    • Unlimited redirections are allowed free of charge in a policy year.

  6. Settlement Payout:

    • This option allows you to receive the maturity amount in equal monthly, quarterly, half-yearly, or annual instalments over 5 years.

    • The first instalment is payable on the maturity date.

  7. Tax Benefits:

    • You are eligible for tax benefits on premiums paid and maturity proceeds under Section 80C and Section 10(10D) of the Income Tax Act, 1961. 

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Investment Strategies in HDFC Life Wealth Elite Plan

  1. Self-managed Option:

    You can choose from 8 investment funds tailored to your needs and risk tolerance. It spans a diverse mix of debt and equity investments ranging from 100% debt to 100% equity.

  2. Systematic Transfer Plan (STP):

    Wealth Elite allows you to set up a Systematic Transfer Plan (STP). With STP, you can invest a fixed amount regularly from one fund (typically a debt fund) to another fund (typically an equity fund) This is a strategy called Rupee Cost Averaging, which can help you benefit from market volatility by buying more units when the price is low and fewer units when the price is high.

  3. Automatic Asset Allocation:

    This feature is not available along with STP in the HDFC Life Wealth Elite Plan. However, it can be a good option if you do not want to manage the allocation yourself. This strategy will automatically adjust your investment between equity and debt funds to maintain the target asset allocation you choose.

Policy Details of HDFC Life Wealth Elite Plan

  • Grace Period: It is the extra time given by the company after the payment due date, where you can still pay your premium without any penalty. During this time, your policy will remain active and will have full coverage.

  • Policy Discontinuance: This happens when you surrender your policy or do not pay the premium within the grace period.

  • Lock-in Period: During the first five years of the policy, the company cannot give you the money from a discontinued policy except in case of death. After that, if you stop paying premiums, your fund value, minus charges, goes into a special fund.

  • Revival: You can bring back a lapsed policy within three years of missing a premium. The process and benefits differ based on when the policy was discontinued.

  • Surrender: At any point during the policy, you can choose to surrender it. If done during the lock-in period, the fund value minus charges goes into a special fund. After the lock-in period, you get the fund value as on the surrender date.

  • Free Look Period: If you are not happy with the policy terms, you can cancel it within a certain period by returning the policy document. You will get back what you have paid minus certain deductions.

  • For Minor Life Assured: If the insured is under 12 years old, full death benefits start from the end of the second policy year. Until then, only the fund value is payable in case of death.

  • Assignment Provisions: Any assignment must follow the rules of the Insurance Act 1938.

  • Nomination Provisions: Nomination should follow the guidelines of the Insurance Act 1938.

How Does the Plan Work

Step 1: Policy Setup

  • Select your policy term, premium amount, and payment frequency.

  • Choose where to invest your premium among different funds.

  • Decide the amount of life cover you want.

  • Understand that charges may vary based on your choices.

Step 2: Fund Management and Goal Achievement

  • Maximize your returns by actively managing your funds through fund switching and redirection.

  • Achieve your short-term financial goals by making partial withdrawals at different milestones.

Step 3: Maturity and Life Cover Benefits

  • Receive the maturity amount according to the chosen maturity option upon policy completion.

  • In the unfortunate event of the policyholder's death, the beneficiary will receive the life cover amount.

Exclusions

HDFC Life Wealth Elite Plan excludes the full death benefit payout in case of death by suicide within the first 12 months from the policy start date or from the date of revival (after a lapse). In such instances, the beneficiary will receive only the fund value accumulated in the policy.

FAQs

  • What is the minimum sum assured allowed in C2P Elite?

    The minimum sum assured for HDFC Life Click 2 Protect Elite is ₹2,00,00,000 (Two Crore Rupees). This applies only if you choose a limited pay option (pay premiums for 10 or 15 years).
  • Is HDFC life insurance good or bad?

    HDFC Life is a reputable insurance company in India. However, whether it's good or bad for you depends on your individual needs and circumstances. Here's some information to help you decide:
    • Positives: HDFC Life has a good financial rating and offers a variety of term insurance plans, including C2P Elite.

    • Negatives: There might be other insurers offering similar plans with lower premiums or better features. It is always best to compare quotes from multiple companies before making a decision.

  • What is HDFC Life Wealth Elite Plan?

    HDFC Life Wealth Elite Plan is a unit-linked insurance plan (ULIP) designed for high-net-worth individuals (HNIs) seeking market-linked returns alongside life insurance coverage.
  • What are the benefits of this plan?

    This plan offers potential for market-linked returns, life cover, tax benefits*, flexibility to switch investment options, and income options at maturity. (*Tax laws subject to change)
  • Can I switch between investment funds?

    Yes, the plan allows unlimited free switches between funds during the policy term.
  • Is there an option to invest a fixed amount regularly?

    Yes, you can set up a Systematic Transfer Plan (STP) to invest a fixed amount regularly into your chosen fund.

Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by any insurer. This list of plans listed here comprise of insurance products offered by all the insurance partners of Policybazaar. The sorting is based on past 10 years’ fund performance (Fund Data Source: Value Research). For a complete list of insurers in India refer to the Insurance Regulatory and Development Authority of India 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

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Disclaimer: Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by an insurer.
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HDFC Life ULIP Plans Reviews & Ratings

4.6 / 5 (Based on 1224 Reviews)
(Showing Newest 10 reviews)
Sushil
Guwahati, January 27, 2025
Transparent Information
I appreciate how Policybazaar presents transparent information about fees NAVs and fund objectives. It made decisionmaking much easier.
Manish
Ranchi, January 26, 2025
Easy Investment Process
Investing in NFOs through Policybazaar has been incredibly convenient. The process is straightforward and I was able to choose my preferred NFOs without any hassle.
Priyanka
Bhubaneswar, January 24, 2025
Trustworthy Option
Axis Max Life Sustainable Wealth fifty Index Fund is a trustworthy investment and Policybazaars platform makes investing easy and accessible for everyone.
Amit
Mumbai, January 18, 2025
Flexibility
Investing through Policybazaar allows for flexible investment options. Whether its SIP or lump sum I can choose what fits my financial goals.
Neha
Visakhapatnam, January 18, 2025
Easy KYC Process
The KYC verification was simple and fast which made my investment journey smooth.
Prashant
Udyapur, January 16, 2025
Good
I gifted life traditional plan to my wife. The policy coverage is 95% and the claims are Rs.41 L. Services provided by the executives is really very good and online facility also there which have easy interface. My wife is happy with this policy, so m i. Good Job.
Karan
Kota, January 16, 2025
Nice
I have the best policy plan from pnb metlife life insurance. The benefits are many with low premiums. Policy coverage is 91%. Claims approx. Rs.39 L with easy procedure to get it. Good future investment. I'm happy with it.
Harish
Mysore, January 16, 2025
Normal Plan
I Bought pnb metlife life insurance and took traditional insurance policy plan. The policy is average and the coverage is 70%. The claims are normal but the premiums are low. The service is okay which provided by the staff members. Good future investment and tax cutter also. Satisfied.
Gaurav
Hoshiarpur, January 16, 2025
Fair Policy
Buy traditional plans from pnb metlife life insurance. The policy coverage is around 85%. Services provided by executives is awesome. Claims are good and done without any interruption. Overall fine life insurance which have low premiums. Nice future investment and it saves taxes also.
Abhinav
Kolkata, January 16, 2025
Average
I have traditional plan from pnb metlife life insurance. Policy coverage is 83% and the claims are Rs.37 L. Service is good and quick provided by the executives and staff members. But please improve your online services. Good future investment which saves taxes too. Nice work.
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