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Insurance policy is a contract of protection/compensation by the insurer to the insured. It is designed to reimburse or compensate the insured party for the financial loss caused in event of death or damage to merchandise as mentioned in the insurance contract.

Broadly insurance can be classified in two categories:
First - Life Insurance which matures in event of death of the insured/policyholder. On occurrence of such an event the insurance company pays a sum of money assured to the nominee/beneficiary (person nominated by the policyholder). Life Insurances are of two types:
Traditional Plans - which contain Endowment Plan , Cash Back Plan, Term Plan , (Term Life Insurance) and Whole life policy. And Unit-linked Insurance Plans - are of 4 types - Endowment cum Ulips, Children Plan , Retirement Plan or Pension plan and investment/saving plans.
Second - General insurance. All insurance policies other than life insurance policies come under general insurance segmentation. (Also known as non-life insurance policies). These policies include Home Insurance, Auto Insurance, Travel Insurance, Marine Insurance, Theft Insurance, Office insurance and Health insurance
Health insurance is most acquired policy in general insurance segment. Health insurances are of 3 types - Comprehensive Plan - which include Mediclaim and Fixed benefits plan, Accidental Insurance and Critical Care plan .
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Home > Life Insurance > Life Insurance Companies > HDFC Standard Life Insurance > Endowment Assurance Plan

HDFC Endowment Assurance Plan

HDFC Endowment Assurance Plan is a plan that secures your family’s future by giving them a guarantee lump sum on maturity or in case of any unfortunate demises. With the HDFC Endowment Assurance Plan you can save today so that your tomorrow will be better.

Benefits
1. The plan gives you the flexibility to chose the amount targeted saving & the policy term.
2. The plan will give a financial security to your family. It will give a lump sum payment on survival up to maturity date.
3. Give you 4 different benefit options- a) Critical illness benefit, b) Additional term benefit, c) Accidental death benefit, d) Wavier of premium benefit.
4. Bonuses will be added annually and you can even have an additional terminal bonus at the end of the term depending upon your performance.
5. You have a choice to pay premium either annually, half yearly or quarterly.
6. You will get Tax benefits under sections 80C, 80D and 10(10D) of Income Tax Act, 1961.

Eligibility for HDFC Endowment Assurance Plan
Options Term Period Entry Age Age of maturity
Policy Min Max Min Max
Basic Policy 10 30 12 60 75
Critical illness benefit 10 30 18 5 70
Additional term benefit 10 30 18 60 75
Accidental death benefit 10 30 18 55 65
Wavier of premium benefit 10 30 18 50 60
Disclaimer: Please note that the information provided is collected from sources publicly available & we believe to be reliable. The website doesn’t warrant the accuracy, reliability & absolute information available on the website. Participation by site visitors or registered customers is on a voluntary basis. The policies are offered by various life Insurance & non-life insurance offering companies and Bimadeals does not seek to, either directly or indirectly, advise, offer, solicit or recommend that any person who is or proposes to become its member should purchase the Policy.
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