HDFC Life Classis Assure Plus Plan

HDFC Life Classic Assure Plus Plan is a Limited Pay Traditional Participating Endowment Plan. Thus, it is a non-linked Insurance Plan with Bonus facility. This plan gives your money invested with profit upon maturity and also covers your life including illness during the policy term. It is a perfect combination of savings and protection to your life.

Key Features

  • This is a traditional Endowment Plan with Bonus facility
  • This plan offers Limited Payment Option
  • There is a High Sum Assured rebate of 5% provided for this plan for Sum Assured > Rs 10,00,000

Benefits

  • Maturity benefit
At the end of the Policy tenure, the Sum assured, reversionary and terminal bonus if any would be paid as Maturity Benefit and the policy would terminate.
  • Death benefit
In case of death of the Life Insured within the Policy Tenure, the nominee gets the higher of: The basic Sum Assured 10 times the Annualized Premium 105% of Total Premiums paid Along with the accrued Reversionary Bonus till date of death as Death Benefit and the policy would be terminated.

Am I eligible?

PARAMETER MINIMUM MAXIMUM
ENTRY AGE 30 60
POLICY TERM 10 20
AGE OF MATURITY 65 75
SUM ASSURED 49,447 NO LIMIT
PREMIUM PAYEMENT TERM 7 10
PAYMENT TERMS ANNUAL, HALF-YEARLY, QUARTERLY, MONTHLY

What if?

  • I am unable to pay on time
If the policy holder stops paying the premium, then all benefits of the policy will stop after the grace period ends. The policy can be reinstated within 2 policy years from the date of discontinuance after paying all the unpaid premiums.
  • I stop the payment
If minimum of 3 years premium is paid for a policy of 10 years and 2 years premium is paid for a policy of 7 years, then the policy is converted to Guaranteed Surrender value else the policy is lapsed.
  • I wish to take a loan
If policy has acquired surrender value a loan amount of up to 80% of the available surrender value of the policy is available.

Exclusions

  • In case of death due to suicide, within 12 months from the date of inception of the policy, the nominee of the policyholder shall be entitled to 80% of the premiums paid or from the date of revival of the policy, the nominee of the policyholder shall be entitled to the amount which is higher of 80% of the premiums paid till date of death or the surrender value as available on death of death.
  • We will not pay Accidental Death Benefits, if the accidental death is caused directly or indirectly by any of the following:
  • Intentionally self‐inflicted injury or suicide, irrespective of mental condition
  • Alcohol or solvent abuse, or the taking of drugs except under the direction of a registered medical practitioner
  • Taking part or practicing for any hazardous hobby or pursuit or race unless previously agreed to by us in writing
  • War, invasion, hostilities (whether war is declared or not), civil war, rebellion, revolution or taking part in a riot or civil commotion
  • Taking part in any flying activity, other than as a passenger in a commercially licensed aircraft
  • Taking part in any act of a criminal nature with criminal intent