Ideally, just how spending comes to you, so must saving and investing. You are able to finance your expenses and take care of your family’s needs in present times. However, to ensure that family is able to maintain the same standard of living in the future, you need to make the right kind of investment today. HDFC Single Premium Whole of Life Plan is a tailor made plan well suited to meet your long-term investment needs and help you maintain your family’s financial independence. This single premium investment plan is a Whole of Life plan aimed at providing long-term real growth of your money.
Features –
Death benefits –
In case of ill –timed demise of the policyholder the nominee gets the sum assured and compound reversionary bonuses, which are usually added annually. At the end of the term, an additional terminal bonus may be paid depending on performance of underlying investment.
Medical requirements –
We do not require you to undergo any medical test for this insurance plan.
Age Limits –
The minimum age at entry is 18 years and maximum age at entry is 70 years.
Sum Assured –
The minimum sum assured is Rs-25000 and maximum sum assured is Rs- 50, 00,000. The premium payment is Rs-950 per Rs- 1000 of sum assured.
Single Premium Investment –
It is a single premium investment plan customized for your long term investment needs. Minimum premium is Rs- 23,750/- and maximum premium is Rs-47, 50,000
Advantages
- This participating plan is a Whole of Life plan aimed at providing long-term real growth for your money
- By nature, this is a whole life policy where the term extends for the life However, you can decide on the policy term by using a feature built into it. For a period of 4 weeks, after any one of the 10th, 15th, 20th and subsequent five-year anniversaries, you can choose to receive the Sum Assured plus any attaching bonuses, in full. Once money has been received, your policy will cease or you may also continue the policy for your whole life
- You can terminate the policy any time, after it has been in force for at least 6 month and receive a surrender value. We will pay discretionary surrender value based on our experience. However, after completion of 3 years there will be a guaranteed surrender value of 50% of premium paid. In addition to the guaranteed surrender value, we may pay additional discretionary surrender value based on our experience. Contract ends on the payment of the same
- Currently Section 80C benefit is available for the premium paid under the plan to the extent of 20% of the Sum Assured. In the event of a death claim the money paid is exempt as per Section 10(10D), of the Income Tax Act 1961
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