HDFC Life ProGrowth Plus Plan

A plan that provides market linked returns along with financial protection to your family. It is a simple savings cum insurance plan that provides you with life cover. A ULIP plan is one whose return mainly depend on the market conditions and gives returns both on maturity of the policy or on the sudden demise of the policy holder.

Key Features

  • Financial protection to loved ones
  • Life cover – death benefit
  • Extra life cover – death + accidental death benefit

Benefits

  • Maturity benefit
On maturity the life insured gets fund value. Fund value is calculated by multiplying balance units and unit price. The fund value can be taken in periodical installments for 5yeras.
  • Death benefit
The nominee receives the sum assured on death.
  • Accidental death benefit
In case the life insured attains death due to accident then the sum assured on accident is paid to the nominee.

Am I eligible?

PARAMETER MINIMUM MAXIMUM
ENTRY AGE 14 55
POLICY TERM 10 30
AGE OF MATURITY - 75
PREMIUM PAYEMENT TERM SAME AS POLICY TERM
PAYMENT TERMS ANNUAL, SEMI-ANNUAL, MONTHLY

What if?

  • I am unable to pay on time
A grace period is provided based on the payment frequency. The policy is continued if you make the payment within the time period else the policy is lapsed.
  • I surrender the policy
If the policy is surrendered within 5 years then the fund value will be moved to discontinued policy fund. If it is surrendered after 5 years fund value will be paid out.
  • I wish to take a loan
Loan facility is available under this policy after the 3rd policy year. The minimum loan amount is Rs. 5,000 and the maximum loan amount is 90% of the Surrender Benefit.

Exclusions

  • Death benefit
The nominee will receive fund of the amount of premiums paid if the life insured commits suicide.
  • Accident benefit
  • Death due to consumption of alcohol
  • Death due to criminal activity
  • Death due to professional sports