All You Need To Know
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Age limit
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Premium
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Ways to pay
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Policy term
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Bonuses
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Annuity benefit
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Tax benefit
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Death benefit
Frequently Asked Questions
On death of the life assured, we would pay to the nominee the Assured Death Benefit of total premiums paid1 to date accumulated at a guaranteed rate of 6% per annum compounded annually. The minimum level of death benefit at all times will be 105% of the premiums paid. Your nominee has an option to utilise the death benefits, fully or partly, for purchasing an immediate annuity from us. However, the nominee or beneficiary shall be given an option to purchase annuity from any other insurer at the then prevailing annuity rate to the extent of percentage, stipulated by the Authority, currently 50%, of the proceeds of the policy net of commutation. Alternatively, your nominee can withdraw the entire death benefit as a lump sum.
Please note the guaranteed rate of 6% p.a. on the premiums paid to date is applicable only for the purpose of calculating death benefit and not for vesting benefit.
1 Total Premiums Paid means total of all the premiums received, excluding any extra premium, any rider premium and taxes.
On survival till the vesting date and on full payment of premiums due throughout the premium paying term, you will receive sum of
- Sum Assured on vesting
- Guaranteed Additions
- Vesting Addition
Regulation mandates how this Vesting Benefit will be payable to you. Please refer to 'Product Brochure' for more details.
Yes, Tax Benefits may be available as per prevailing tax laws. You are requested to consult your tax advisor.
Disclaimer
HDFC Bank Limited (IRDAI Registration No: CA0010) is the Corporate Agent of HDFC Life Insurance Company Limited and does not underwrite the risk or act as an insurer. HDFC Bank Limited, HDFC Bank House, Senapati Bapat Marg, Lower Parel (West), Mumbai - 400 013. Participation by the Bank’s clients in the Insurance products is purely on a voluntary basis. The contract of Insurance is between HDFC Life and the Insured and not between HDFC Bank and the Insured.This policy is underwritten by HDFC Life Insurance Company. Registered Office: 13th Floor, Lodha Excelus, Apollo Mills Compound, N. M. Joshi Marg, Mahalaxmi, Mumbai - 400 011. The name/letters "HDFC" in the name/logo of the company belongs to Housing Development Finance Corporation Limited ("HDFC Limited") and is used by HDFC Life under an agreement entered into with HDFC Limited.HDFC Life Guaranteed Pension Plan (UIN: 101N092V08) is a non-linked non-participating pension plan. Life Insurance Coverage is available in this product. This version of the product brochure invalidates all previous printed versions for this particular plan. This Product brochure is indicative of the terms, warranties, conditions and exclusions contained in the insurance policy. Please know the associated risk and applicable charges from your insurance agent or the intermediary or policy document of the insurer.