Top Low Cost HDFC ULIP Plans

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HDFC Life is an insurance company present in the Indian market providing a wide variety of life insurance options including term insurance plans, health insurance plans, child education plans, unit linked insurance plans, pension plans, investment and saving plans. It is one of the popular insurance providers. The claim settlement ratio of HDFC Life is 97.62% as per the IRDA in the financial year 2015 - 2016. The total death claims that were received by the insurance company in the financial year 2015 - 2016 were 12,189 and the total death claims that were settled against the total death claims raised by the people were 11,031. So if you are planning to buy a life cover from an insurance company like HDFC Life then you are good to go.

Most of the people prefer investing in ULIP plans. The reason being it is the combination of insurance cover and investment option. This way people enjoy dual benefits. The insurance company collects money from various policyholders. The money is partially invested by the insurance company in debt, equity, and money market instruments. The remaining money is used by the insurance company for providing the life insurance cover. There are numerous benefits of investing in unit linked insurance plans. You should always choose the insurance company wisely after checking the claim settlement ratio, reviews and ratings. The company which has a good claim settlement ratio, reviews, and ratings should be selected.

Since HFDC Life has good claim settlement ratio so it is worth to buy a unit linked insurance plan from it. The claim settlement ratio gives a clear picture of whether the insurance company would be able to settle the claim if arises in the future. Some ULIP charges are levied by the insurance company. These charges are not generally communicated to the policyholders. Policyholders should have sufficient knowledge about these charges before making an investment in ULIP. Premium allocation charge, maintenance charge, and switching charge are some of the common ULIP charges. There are some HDFC ULIP Plans that have lower costs. You should check out some of the top low cost HDFC ULIP plans that are worth buying:

Click 2 Invest HDFC Life Plan: Click 2 Invest HDFC Life Plan is one the popular HDFC ULIP plans as it charges low cost from you, helps you in accomplishing your financial goals, and provides financial assistance to your family. You can easily invest in this plan via online medium. The discontinuance charges, premium allocation charges, and policy administration charges are nil. The mortality charges for the period of 10 years are Rs. 5,544. This plan provides the policyholder with 8 fund options to choose from according to the investment style.Diversified Equity Fund, Equity Plus Fund, Blue Chip Fund, Balanced Fund, Opportunities Fund, Income Fund, Conservative Fund and Bond Fund are the eight fund options available in the plan. The minimum age at entry is 0 years. The maximum age at entry is 65 years. The minimum age at maturity is 18 years. The maximum age at maturity is 75 years. The premium payment options that are available in the plan are regular, limited, and single. The limited term for premium payment is 5 years, 7 years, or 10 years. Click 2 Invest HDFC Life Plan provides you the flexibility to choose the policy term that ranges from 5 - 20 years. At the sudden demise of the policyholder, the family of the policyholder is provided with sum assured or 105% of the total premium paid or fund value, whichever is the highest. If the policyholder survives till the maturity of the policy, the fund value is provided by the insurance company as a maturity benefit. Under sections 80C and 10(10D) of the Income Tax Act, 1961, the policyholder is eligible for some tax benefits. For more information about Click 2 Invest HDFC Life Plan, do check out the information brochure available at the HDFC Life official website.

HDFC Life Click 2 Retire Plan: HDFC Life Click 2 Retire Plan is one of the known HDFC ULIP plans. You can buy this unit linked insurance plan via online medium. The best thing about this plan is that it offers you good returns and that too by just paying minimum charges. The minimum vesting age is 45 years and the maximum vesting age is 75 years. The minimum entry age is 18 years and the maximum entry age is 65 years. The premium payment term is 10 years or 15 - 35 years for single pay, 8 pay, 10 pay, and 15 pay. If you are planning to buy HDFC Life Click 2 Retire Plan, do check out the information brochure available at the HDFC Life official website. The various modes that are available for the payment of the premium are single pay, annual, semi-annual, quarterly, and monthly. The minimum annual premium is Rs. 24,000. The minimum semi-annual premium is Rs. 12,000. The minimum quarterly premium is Rs. 6,000. The minimum monthly premium is Rs. 2,000. There is no limit for the maximum premium. The premium allocation charges, discontinuance charges, mortality charges, and policy administration charges associated with the plan are nil. The fund management charge is 1.35% per annum of the fund value charged regularly. The fund options that are available in this plan are Pension Conservative Fund,  and Pension Income Fund. At the sudden demise of the policyholder, HDFC Life provides to the policyholder either fund value or 105% of the total premium amount paid, whichever is higher.

HDFC SL ProGrowth Maximiser Plan: HDFC SL ProGrowth Maximiser Plan is one of the most preferred HDFC ULIP plans. The eligibility criterion for buying this plan is 14 - 65 years. The maximum age at maturity is 75 years. The policy term is 10 years. The only premium paying term that is available in the plan is single pay. The premium can be paid via credit card, cheque, internet banking, or auto debit facility. According to the sections 10(10D) and 80C of the Income Tax, the policyholder is provided with some tax benefits. If this plan suits your budget and requirement, check out the product brochure available at HDFC Life official website. This plan provides 4 fund options to the policyholders including Income Fund, Blue Chip Fund, Balanced Fund, and Opportunities Fund. You can choose the investment fund according to your requirement. You can easily switch or redirect future premiums. This plan provides financial assistance to the family of the insured when the insured is not around to take care of the needs of the family. The minimum initial premium amount is Rs. 50,000. There is no limit for the maximum initial premium amount. The minimum single top-up premium amount is Rs. 10,000.

HDFC SL Crest Plan: HDFC SL Crest Plan is one of the best low cost HDFC ULIP plans. The only premium payment mode that is available in the plan is annual. The minimum premium is Rs. 50,000. The maximum premium has no limit. This plan provides 4 fund options including Income Fund, Balanced Fund, Blue Chip Fund, and Opportunities Fund. Under sections 10(10D) and 80C of the Income Tax, the policyholder is provided with some tax benefits. The minimum age at entry is 14 years. The maximum age at entry is 55 years. The maximum age at maturity is 65 years. The policy term is 10 years. The term for premium payment is 5 years. You can pay the premium amount via internet banking, auto debit facility, credit card, or cheque. The policyholder is allowed for partial withdrawal after the policy time period of 5 years. A grace period of 30 days is provided for the payment of the premium. The amount of partial withdrawal is at least Rs. 10,000. At the time of the sudden death of the policyholder during the term of the policy, the insurance company pays the higher sum assured after deducting partial withdrawals or minimum death benefit which is 125% of total premium paid or the total fund value to the policyholder. In order to invest in this plan, a person is not required to go for medicals. The plan can be availed by just filling out a medical questionnaire which is quite short. The mortality charge depends on the age of the policyholder and level cover. If you want to make an investment for a short term then you should check out this plan once. For detailed information about this plan from HDFC ULIP plans, please refer to the product brochure available at the official website of HDFC Life.

Conclusion:

Unit linked insurance plan is the combination of insurance and investment options. The insurance company pools money from various investors. A part of the pooled money is invested in equity, debt, and money market securities. The remaining money is used by the insurance company for providing the life insurance cover to the policyholders. HDFC Life is a leading insurance company operating in the Indian market providing a lot of life insurance products such as term insurance plans, health insurance plans, child education plans, unit linked insurance plans, pension plans, investment and saving plans. If you are planning to invest in a unit linked insurance plan then you should check out HDFC ULIP plans as HDFC Life is one of the popular insurance providers. The claim settlement ratio of HDFC Life is 97.62% according to the IRDA in the year 2015 - 2016. The total death claims that were received by the insurance company in the year 2015 - 2016 were 12,189. The total death claims that were settled by the insurance company were 11,031.

There are many HDFC ULIP plans available in the Indian market with low cost. Click 2 Invest HDFC Life Plan, HDFC Life Click 2 Retire, HDFC SL ProGrowth Maximiser Plan, and HDFC SL Crest Plan are some of the top low cost HDFC ULIP plans that are worth buying. If you are planning to buy any of the HDFC ULIP plans, you must go through the information brochure first, available at the HDFC Life official website. Before buying any unit linked insurance plan you must do sufficient research. It is important to compare the features and benefits of various HDFC ULIP plans so that you can select the best one as per your need and budget. These days, the online medium is of great help as you can easily compare the features and benefits of various HDFC ULIP plans with the help of an online tool and check out the online rating and reviews given by the other customers about HDFC ULIP plans.

If you are looking for an answer to various questions including:

  • What is a ULIP plan?
  • Is it worth to buy a life insurance cover from HDFC Life?
  • What is the claim settlement ratio of HDFC Life?
  • Why I should prefer HDFC ULIP plans?
  • What are the ULIP charges?
  • What are various ULIP charges that are levied by an insurance company?
  • What are some of the top low cost HDFC ULIP plans that are worth buying?
  • What are the features and benefits of HDFC SL Crest Plan?
  • What are the features and benefits of Click 2 Invest HDFC Life Plan?
  • What are the features and benefits of HDFC Life Click 2 Retire Plan?
  • What are the features and benefits of HDFC SL ProGrowth Maximiser Plan?

Then you are at the right place, please refer to the above-mentioned information in order to get answers to your questions.