HDFC SAVINGS ASSURANCE PLAN

HDFC – SAVINGS ASSURANCE PLAN

It is a plan that will help you to save money and at the same time invest your money to achieve your future goals.

HDFC Standard Life invests the premiums that you pay in order to give you better returns in the form of bonuses.

Features:

• No medical examination required under this plan.

• Flexibility in terms of payment options and additional optional benefits.

• It helps you to secure your long term financial goals.

• It gives you an opportunity to save and invest regularly.

• Tax benefits can be availed on the premiums you pay and the amount you receive.

• The minimum age at the entry level is 18 years and maximum is 60 years.

• The minimum age at maturity is 75 years.

• The minimum term of the plan is of 10 years and maximum term is of 30 years.

• You can choose to save monthly, yearly, or quarterly as per your wish.

• The amount you wish to invest is automatically gets invested from your bank account into the plan.

• Very limited documentations required under this plan.

Benefits:

• You get the sum assured and additional bonuses, if any, on the date of maturity.

• This plan also receives simple reversionary bonus, which is added every year. You may also get additional bonuses at the end of the term.

• 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 to date.

• Under section 80 C and 10(10) D of the Income Tax Act, 1961 can be availed.