HDFC Term Insurance with Return of Premium 

What is HDFC Term Plan with Return of Premium Option?

HDFC Life Insurance offers several term insurance with return of premium plans that return the premiums paid throughout the policy term at the end of the policy tenure as maturity benefits. With this total premium refund payout at the policy's maturity, you can fulfil your future financial goals, like taking care of retirement or paying for your child's future education, while ensuring that you are protected for the required tenure.

Note: It is suggested that you learn more about what is term insurance, before selecting the right type of life insurance for yourself.

How Does HDFC Term Plan with Return of Premium Work?

Let us understand how HDFC term insurance with return of premium works with the help of an example:

Karan, a healthy, non-smoking male, buys a 1 crore term insurance with a return of premium benefit for a 30 year policy term. Suppose Karan suffers an untimely death during this 30 year policy term, the insurer will pay the entire 1 crore sum assured to his family, and the policy will terminate.

If Karan outlives the policy term, then he will be eligible to receive the total premiums paid towards the policy. This return of premiums will exclude the applicable GST, loading premiums, rider premiums, and any other nominal charges that may have been applied. However, it is suggested that you check with the HDFC Life Insurance company, to see the exact T&Cs of the return of premium benefit.

Benefits of HDFC Term Insurance with Return of Premium

The HDFC term plan with return of premium offers the following benefits:

• Financial Protection for Family: The HDFC term plan with return of premium provides financial protection to your loved ones in the form of death benefit in your absence. 

• Return of Premium Benefits: HDFC life insurance company understands that many individuals want the maturity benefits of life insurance plans at the affordability of term insurance plans, and thus offer term insurance with return of premium benefits.

• Affordable Premiums: Even though the premiums for a TROP plan are slightly higher than regular term insurance plans, the premiums are still much more affordable than other types of life insurance.

• Peace of Mind: A term insurance provides you with the peace of mind of knowing that your family will be financially protected in the event of your unfortunate demise during the policy term.

• Tax Benefits: You can claim term insurance tax benefits under sections 80C and 10(10D) of the Income Tax Act, 1961, as per the prevailing tax laws.

Features of HDFC Term Insurance with Return of Premium (HDFC ROP Plans)

Let us take a look at the features of this type of life insurance plan:

• Income Replacement Benefits: The income replacement benefits of the HDFC term plan with return of premium allow customers to choose the ideal payout of the death benefit like monthly payout, lump sum payout, or increasing payout.

• Flexible Policy Term: You can choose the most suitable policy term for your HDFC term insurance policy and find the policy tenure that covers your dependents until they are financially secure.

• Customisable Sum Assured: Most life insurance providers offer life-stage benefits, which allow you to increase the sum assured at a later stage to fit your ever-evolving needs.

• Long Term Coverage: You can get coverage with a term insurance plan for your whole life i.e., till 99/100 years of age. This way you can guarantee the death benefits for your family in your absence with a whole life insurance policy.

• Convenient Premium Pay Term: Choose to pay the premiums in a regular, limited, or single premium pay term, in a monthly, quarterly, annually, or bi-annual premium pay mode.

Note: It is suggested to calculate the term plan premium on the term insurance calculator online tool by Policybazaar before buying.

Who Should Buy the HDFC Term Plan with Return of Premium?

Here is a list of individuals who can buy HDFC term insurance with return of premium benefits:

* You can use the HDFC term insurance calculator to see the premiums applicable for your profile.

How to Buy HDFC Term Plan with Return of Premium Online?

Here is how you can buy the HDFC term plan with return of premium plans online via Policybazaar:

Step 1: Visit the term insurance with return of premium page of Policybazaar

Step 2: Fill in your name, gender, contact information, and date of birth

Step 3: Select the right smoking habit, educational qualifications, annual income, and occupation type

Step 4: Choose the best term insurance plan for your needs and proceed to pay

Note: Check all the best term insurance plan in India.

Note: You should also check the benefits of term life insurance if you are planning to purchase the term insurance plan.

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