HDFC SINGLE PREMIUM WHOLE LIFE INSURANCE PLAN

HDFC – SINGLE PREMIUM WHOLE LIFE INSURANCE PLAN:

This is a single premium investment plan which aims at providing long-term real growth to your funds. This plan helps you to pay your present financial expenses and at the same time take care of your family’s needs.

It ensures that you maintain a better standard of living in your future.

Features:

• In case of unfortunate death of the life assured, the nominee gets the sum assured and bonuses which are usually added at the year end. At the end of the term an additional bonus may be paid depending upon the performance of the investment.

• The minimum premium to be paid is Rs.23, 750 while the maximum premium to be paid is Rs.47, 50,000.

• The minimum is Rs.25, 000 while the maximum premium to be paid is Rs.50, 00, 000. The premium rate is Rs.950 per Rs.1000 of the sum assured.

• The minimum entry age is 18 years and the maximum age is 70 years.

• You are not required to undergo any medical examination as per this plan.

Benefits:

• This plan aims at providing long-term growth to your money.

• 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 be terminated or you may also continue the policy for your whole life.

• You can terminate the policy any time, after it has started, for at least 6 month and receive a surrender value. This plan will give you 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.

• 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.