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HDFC Life Guaranteed Savings Plan helps you protect your life goals from eventualities through a life insurance cover and helps you create a corpus by o­ffering a guaranteed* lump sum at maturity.

Benefits

Maturity Benefit

On survival until the end of the Policy Term, provided all due premium have been paid, you shall receive ‘Sum Assured on Maturity’ as a lump sum which is based on the Premium Payment Term, premium frequency and premium amount.

On payment of this benefit the Policy shall terminate and all other benefits shall cease.

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Death Benefit

Waiting Period of 90 days (from the date of inception of the Policy) applies to payment of Death Benefit for reasons other than accidental death. Death Benefit shall be payable as a lump sum as per the following table, provided all due premiums under the policy have been paid until the date of death.

Event/ Cause Accidental Death Death due to other causes
Death during the Waiting Period Sum Assured on Death which is highest of:
10 times the Single Premium/Annualised Premium1 , for Single Pay/Limited Pay respectively
105% of Total Premiums paid
Sum Assured on Maturity
Any absolute amount assured to be paid on death, which is equal to the Sum Assured on maturity.		 100% of Total Premium paid
Death after the expiry of the Waiting Period Sum Assured on Death which is highest of:
10 times the Single Premium/Annualised Premium, for Single Pay/Limited Pay respectively
105% of Total Premium paid
Sum Assured on Maturity
Any absolute amount assured to be paid on death, which is equal to the Sum assured on maturity.		  

Upon payment of Death Benefit, the Policy shall terminate and no further benefits shall be payable.

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Disclaimer

*Provided all the due premiums are paid and the policy is in force. Tax benefits are subject to changes in tax laws. Please consult your Tax consultant to know the Tax Benefits available to you HDFC Life Insurance Company Limited (Formerly HDFC Standard Life Insurance Company Limited) (“HDFC Life”). CIN: L65110MH2000PLC128245. IRDAI Registration No. 101. 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 Insurance Company Limited. Insurance is subject to matter of solicitation. For more details on risk factors, terms and conditions and exclusions please read the product brochure before conclusion of sale. HDFC Life Guaranteed Savings Plan (UIN: 101N131V02) is a Non-Linked Non-Participating Endowment Life Insurance Plan. Life Insurance Coverage is available in this product. HDFC Bank Limited is the Corporate Agent (IRDAI Reg. No. CA0010) of HDFC Life Insurance policy is underwritten by HDFC Life. Purchase of Insurance policy is voluntary T&C*

  1. Premium amount calculated for a 35 years old male, Sum Assured on Maturity of ₹32,650, Premium Payment Term of 5 years, Policy Term of 10 years, monthly premium frequency, exclusive of Applicable Taxes & Other Statutory Levies.
  2. Provided all due premiums have been paid and the policy is in force.

​​​​​​​“As per recent changes in section 10(10D) of Income Tax Act, where the amount of aggregate annual premium payable in the financial year in case of Traditional plans (all non-unit linked plans except Annuity, Pension and Pure Risk Plans) issued on or after 1st April 2023 exceeding INR 5,00,000 the benefits of the policy/policies shall not be eligible for exemption under section 10(10D) except in case of death”. The customer is requested to seek advice of a tax advisor with respect to his/her personal tax liabilities under the Indian Income-tax law."