Investment Plans 552 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 to the 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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Features of HDFC SL Crest Plan

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:

  1. The policyholder has access to various funds that can be used to invest the amount to get higher returns through market-linked instruments and financial protection for your loved ones.
  2. The plan offers 10 fund options, designed to achieve financial goals and satisfy varied investment need. The following funds are available under the plan:
    Fund NameAsset Class InstrumentsRisk and Return Rating
    Money Market InstrumentsGovt. SecuritiesEquity
    Income Fund0% to 20%80% to 100%-Moderate
    Balanced Fund0% to 20%0% to 60%40% to 80%Moderate to High
    Blue Chip Fund0% to 20%-80% to 100%Very High
    Opportunities Fund0% to 20%-80% to 100%Very High
    Equity Plus Fund0% to 20%-80% to 100%Very High
    Diversified Equity Fund0% to 40%0% to 40%60% to 100%Very High
    Bond Fund0% to 60%40% to 100%-Moderate
    Conservative Fund0% to 60%40% to 100%-Low
    Discovery Fund0% to 10%0% to 10%90% to 100%Very High
    Equity Advantage Fund0% to 20%0% to 20%80% to 100%Very High
  3. All the funds are well managed and channelized to offer optimum to higher returns
  4. The policyholder can invest, switch or redirect future premiums in any one of the 10 funds without any charges i.e. free asset allocation gives flexibility to the policyholder to change the investment strategy.
  5. The policyholder has the flexibility to choose the sum assured as per their financial needs and convenience. The sum assured multiple is 10 times to 20 times the annual premium
  6. The HDFC SL Crest plan does not limit the premium amount.
  7. The policyholder has an opportunity to earn higher returns by investing for a shorter period. Under the HDFC SL Crest policy, the policyholder can pay for a limited period of 5 years and enjoy life cover for 10 years. The policy term under this plan is for 10 years

Eligibility Criteria of HDFC SL Crest Plan

ParticularsMinimumMaximum
Sum Assured10 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 Term10 years10 years
Premium Payment Term5 years5 years
Life Assured age at entry14 Years55 Years
Age at Maturity-65 Years
Annualized PremiumRs 50000No Upper Limit
Premium Payment Mode Yearly

Benefits of HDFC SL Crest Plan

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:

Maturity Benefit:

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

Settlement option:

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 settlement option is paid on the date of maturity. In the settlement period, the risk cover shall be 105% of the total premiums paid.

Death benefit:

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 amount of death benefit received by the nominee shall be equivalent to 105% of the total premiums paid.

Partial Withdrawal:

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:

Tax Benefit can be availed on the premiums paid as per prevailing tax laws.

Riders:

Rider option is available under the policy. By availing, 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

Loan Facility:

No loan facility is available under the HDFC SL Crest Plan.

Free-Look Period:

In the case, 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. 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.

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