Quote Form

Our representative will call you within few minutes
Investment Plans 2958 views April 15, 2020
It is important and necessary to be prepared for the uncertainties of life. Uncertainties of life can throw off your dreams and aspirations off the hook. Therefore, it is important to be prepared to face such insecurities. HDFC life insurance is one of the best insurance partners as it offers top-notch smart savings-cum-investment insurance plans that help in achieving life goals. The HDFC SL ProGrowth Flexi is one of the best insurance policies as it enables the simplest and finest solutions that help in securing future financial needs along with financial security. HDFC SL ProGrowth Flexi plan can be used as an instrument for long-term savings. Additionally, being a unit-linked insurance plan, it is an instrumental policy to gain market-linked returns. The details of the HDFC SL ProGrowth Flexi plan are as under:
Table of Contents
The key features of the SL ProGrowth Flexi plan offer an opportunity for the policyholder to create a substantial financial corpus during the policy tenure. The key features of this plan are as follows:
Particulars | Life Option | Extra Life Option | ||
---|---|---|---|---|
Minimum | Maximum | Minimum | Maximum | |
Age at Entry | 14 Years | 65 Years | 18 Years | 55 Years |
Age at Maturity | - | 75 Years | - | 70 Years |
Policy Tenure | 10 Years | 30 Years | 10 Years | 30 Years |
Premium Payment Frequency | Yearly / Half Yearly/ Monthly | |||
Premium Payment Term | Minimum of 5 years Maximum equivalent to the policy term |
|||
Annual Premium | Rs 24000 Yearly Rs 10000 Half-Yearly Rs 2500 Monthly |
Apart from offering unique features, the SL ProGrowth Flexi Plan offers benefits as under:
Under this plan, in the event of survival of the policyholder till the end of policy tenure, the maturity benefit shall be payable. The maturity benefit shall be the accumulated fund value as on the date of maturity
The HDFC SL ProGrowth Flexi Plan comes in two variants, therefore, the death benefit payable to the nominee shall be as per the variant opted. The death benefit payable is as follows:
Life insurance premiums paid are allowed for tax deductions under section 80C of the Income Tax Act. Additionally, the maturity proceeds received by the policyholder are tax-free under section 10(10D) of the Income Tax Act, 1961.
Extra Life Option variant offers in-built Accidental Death Benefit Rider. Additionally, policyholders can include HDFC Life Income Benefit on Accidental Disability Rider and HDFC Life Critical Illness Plus Rider to help enhance their protection. For details on riders, it is recommended to refer Rider Brochures.
The policyholder has a wide range of fund options to invest money. The policyholder can invest their money in any of the funds as per their financial goals and risk appetite. The various funds available under the plan is as under:
Fund Switching option is available under the plan.
Partial Withdrawal of funds from the policy is not allowed until the policy completes 5 policy years or the life assured completes 18 years of age, whichever is later.
If any policyholder is not convinced with the terms and conditions of the policy contract, he/she can cancel the policy contract within the free look period. The free look period available under the policy is of 15 days. The policyholder can cancel the policy within 15 days from the date of inception of the life coverage
The HDFC SL ProGrowth Flexi plan has a grace period of 30 days for policies having annual premium payment mode, while 15 days for half-Yearly premium payment mode.
HDFC SL ProGrowth Flexi life insurance plan is one of the best instruments that give valuable financial protection to your loved ones and family in your absence. The flexible additional benefit option boosts your fund value. Lastly, the availability of various funds allows you to earn higher returns by giving an opportunity to invest in market-linked funds. Thus, the HDFC SL ProGrowth Flexi plan, as the name suggests, is a growth oriented policy that offers both growth on your investment and life insurance coverage to the policyholder. So, go ahead and purchase HDFC SL ProGrowth Flexi Plan to plan financial security for your family.