The HDFC Term Assurance Plan secures your family’s financial need in case of uncertainty. A lump sum will be given to the family of the life assured in case of death or critical illness( if option is chosen) of the life assured during the term of contract. You can choose a lump sum that will replace the income lost.
Features of HDFC Term Assurance Plan
1. Entry Age- minimum entry age 18years & maximum is 60years.
2. Policy Term- For regular premium payment minimum policy term is of 5years & maximum is 30years.
For Single premium payment a tenure of 2years to 15years.
3. Plan Choice- The plan can be taken on a single life basis or on joint life basis.
4. Death Benefits- Nominee or assignee will get the chosen Sum Assured.
5. Maturity Benefits- Plan doesn’t provide any maturity or survival benefit.
6. Additional Optional Benefits - Additional benefits offered
a. Critical illness benefit- An amount equal to sum assured chosen under the benefit will be payable on diagnosis of any 6 critical illness.
b. Accidental benefit- An additional amount equal to the sum assured selected under this will payable in case of your unfortunate death due to accident.
c. Accelerated sum assured- An amount equal to the sum assured selected under this benefit will be paid on diagnosis of any 6 critical illness or your basic policy terminates without value.
Advantages of HDFC Term Assurance Plan
1) High cover at a nominal cost
2) Flexibility to choose the sum assured.
3) Additional benefits options at marginal cost.
4) In case of regular premium the premium amount remains the same.
5) Option of paying single premium or regular premium.
6) Tax benefits under sections 80C, 80D and 10(10D) of Income Tax Act, 1961.
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.
