HDFC Savings Assurance Plan | Features | Advantage

Despite your best efforts, you do not end up saving regularly for your family’s and your future. Unexpected expenses, unplanned purchases and often, sheer lack of time defeat your efforts. Don’t you wish that someone would take on the responsibility of regularly saving your money for you? HDFC Savings Assurance Plan is a ‘With Profits’ savings plan which helps you conveniently build your long-term savings and ensure that your family is protected even if you are not around.

Features –

Flexibility –

You can choose to save monthly, quarterly, half-yearly or yearly as per your convenience.

No Medicals –

No Underwriting or extensive documentation required.

Term Limits –

Term Available of 10 years only.

Age limits –

The minimum entry age is 18 years and the maximum age is 60 years. The maximum age limit at maturity is 70 years

Convenience –

The chosen amount is automatically inverted from your bank account into the plan.

Advantages

The chosen amount is automatically invested from your bank account into the plan
This plan is a ‘With Profits’ savings policy, which offers the following features
- The policy receives simple reversionary bonuses, which are usually added annually
- At maturity, the policy pays out the basic Sum Assured plus Reversionary Bonuses declared during the policy term. Interim or Terminal Bonus may also be payable, if declared
On death during the first year, a sum equal to 80% of premiums received is payable. On death after the first year and during the policy term, all premiums paid to date will be returned with compound interest calculated at 6% per annum, subject to a maximum of the Sum Assured plus Reversionary Bonuses declared till date
Tax benefit under Section 80C and 10(10D) of Income Tax Act 1961, subject to provisions contained therein

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Tags: HDFC Life Insurance, HDFC Savings Assurance Plan