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Investment Plans 2055 views April 15, 2020
HDFC SL Crest is a comprehensive life insurance plan designed to meet the insurance needs of the policyholder. HDFC Life Insurance Company is one of the leading life insurance providers in India that understands the insurance needs of its customers. HDFC SL Crest is a unit-linked insurance plan that offers an opportunity for wealth creation with the help of market-linked instruments. Along with wealth creation opportunities, the plan also offers life coverage. The plan has a fixed investment horizon of 10 years within which the policyholder can achieve investment goals along with financial protection for his/her loved ones. Under this plan, the policyholder has to pay a premium for a limited period i.e. premium payment for 5 years and in return receive life coverage and financial protection for 10 years. Additionally, the policyholder gets 10 years of market-linked returns by investing for only 5 years.
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The HDFC SL Crest Insurance Plan offers a wide range of unique features. With the HDFC SL Crest Insurance plan, the policyholder can plan for the future and be relaxed to see their wealth grow. The following are the unique features offered by the HDFC SL Crest Plan:
Fund Name | Asset Class Instruments | Risk and Return Rating | ||
---|---|---|---|---|
Money Market Instruments | Govt. Securities | Equity | ||
Income Fund | 0% to 20% | 80% to 100% | - | Moderate |
Balanced Fund | 0% to 20% | 0% to 60% | 40% to 80% | Moderate to High |
Blue Chip Fund | 0% to 20% | - | 80% to 100% | Very High |
Opportunities Fund | 0% to 20% | - | 80% to 100% | Very High |
Equity Plus Fund | 0% to 20% | - | 80% to 100% | Very High |
Diversified Equity Fund | 0% to 40% | 0% to 40% | 60% to 100% | Very High |
Bond Fund | 0% to 60% | 40% to 100% | - | Moderate |
Conservative Fund | 0% to 60% | 40% to 100% | - | Low |
Discovery Fund | 0% to 10% | 0% to 10% | 90% to 100% | Very High |
Equity Advantage Fund | 0% to 20% | 0% to 20% | 80% to 100% | Very High |
Particulars | Minimum | Maximum |
---|---|---|
Sum Assured | 10 times of annualized premium for age less than 45 years 7 times of annualized premium for age more than 45 years | 20 times of annualized premium |
Policy Term | 10 years | 10 years |
Premium Payment Term | 5 years | 5 years |
Life Assured age at entry | 14 Years | 55 Years |
Age at Maturity | - | 65 Years |
Annualized Premium | Rs 50000 | No Upper Limit |
Premium Payment Mode | Yearly |
Apart from offering unique features, the HDFC SL Crest Plan offers a wide range of benefits to the policyholder. The benefits of the plan are as under:
The maturity benefit is payable at the end of the policy term. The maturity benefit paid under the plan is the fund value prevailing on the date of policy maturity
The settlement option can be availed for receiving maturity benefit. Under the settlement option, the maturity fund value can be received in periodic instalments. The maximum period may extend to 5 years. The 1st periodic instalment of maturity benefit under the settlement option is paid on the date of maturity. In the settlement period, the risk cover shall be 105% of the total premiums paid.
The death benefit is paid in the event of an untimely demise of the life assured during the policy term. The death benefit is paid to the nominee. The minimum death benefit payout received by the nominee shall be equivalent to 105% of the total premiums paid.
In the case of financial contingencies, the policyholder can partially withdraw funds from the policy. However, partial withdrawal can be done only after completion of 5 policy years.
Tax Benefit can be availed on the premiums paid as per prevailing tax laws.
Rider option is available under the policy. By availing the rider option, policyholders can enhance protection and make their policies financially stronger. The two riders available under the HDFC SL Crest policy are: HDFC Life Income Benefit on Accidental Disability Rider and HDFC Life Critical Illness Rider
No loan facility is available under the HDFC SL Crest Plan.
If the policyholder is unsatisfied with the terms and conditions of the policy, they have an option to cancel the policy by returning the policy to HDFC Life stating the reason thereof, during the free look period. The free-look period is for 15 days starting from the date of receipt of the policy. However, the free-look period is for 30 days is the policy is sold through distance marketing.
HDFC Life Insurance Company Limited is the best insurance provider in India. The Company has introduced a wide range of comprehensive insurance plans as per the needs and demands of the customer. SL Crest insurance plan is best for individuals who want financial security, life coverage, and high returns. The plan is designed to create a financial corpus to secure your loved ones in your absence. Buying the HDFC SL Crest insurance plan will help to create a corpus to face the uncertain situations of life.