HDFC Life Smart Protect Plus

• 4 Distinct Cover Options: Choose from Level Cover, Level Cover with Capital Guarantee, Decreasing Cover, and Decreasing Cover with Capital Guarantee, based on your protection and investment needs.
• Maturity Benefit: On survival until maturity, you will receive the Fund Value along with applicable Loyalty Additions. If you have opted for a Capital Guarantee variant, you will receive a minimum guaranteed maturity benefit equal to the Total Premiums Paid less Partial Withdrawals, subject to the policy terms.
• Death Benefit: In the unfortunate event of the Life Assured's demise during the policy term, the nominee will receive the applicable Death Benefit as a lump sum.
• Return of Charges: The plan enhances your investment by returning eligible charges at maturity or at age 85, whichever is earlier. These include:
  • Up to 2X Mortality Charges
  • Premium Allocation Charges
  • Fund Management Charges (FMC)
  • Up to 2X Guarantee Charges, where applicable
• Maturity Booster: Eligible policies receive a Maturity Booster of up to 2 times the Annualised Premium, helping enhance the overall fund value at maturity.

• Multiple Fund Options: Invest across 11 fund options spanning equity, debt, and hybrid asset classes, based on your financial goals and risk appetite.
• Liquidity: Make partial withdrawals after completing the five-year lock-in period, subject to the policy terms and conditions.
• Settlement Option: Choose to receive the maturity benefit either as a lump sum or in periodic instalments, as per the selected option.
• Tax Benefits: Tax benefits on premiums paid and benefits received may be available under the applicable provisions of the Income Tax Act, 1961, subject to the prevailing tax laws.

The plan is available to individuals meeting the following age criteria:

Plan Details

Minimum Premium

• Annual:
  • ₹50,000 (5 and 6-year Limited Pay)
  • ₹30,000 (other Premium Payment Terms)
• Half-yearly:
  • ₹25,000 / ₹15,000
• Quarterly:
  • ₹12,500 / ₹7,500
• Monthly:
  • ₹4,500 / ₹3,000

Maximum Premium: No upper limit, subject to the Board Approved Underwriting Policy (BAUP).

Premium Payment Term (PPT)
The plan offers both Regular Pay and Limited Pay options. Under the Limited Pay option, you can choose a Premium Payment Term ranging from 5 to 20 years. The Regular Pay option is available for policy terms up to 99 years minus the Entry Age.

Sum Assured on Death
In the unfortunate event of the Life Assured's demise during the policy term, the nominee will receive the highest of the following:

• Total Sum Assured, after adjusting for any partial withdrawals, if applicable.
• Fund Value.
• 105% of the Total Premiums Paid.

The Minimum Basic Sum Assured is:

• 10 times the Annualised Premium for entry ages below 18 years.
• 7 times the Annualised Premium for entry ages between 18 and 49 years.
• 5 times the Annualised Premium for entry ages 50 years and above.

The Unit Linked Insurance products do not offer any liquidity during the first five years of the contract. The policyholder will not be able to surrender or withdraw the monies invested in Unit Linked Insurance Products, either partially or completely, until the end of the fifth policy year. 

HDFC Life Smart Protect Plus (UIN: 101L187V02) is a Unit Linked, Non-Participating, Individual Life Insurance Savings Plan. HDFC Life Income Benefit on Accidental Disability Rider – Linked (UIN: 101A038V01), HDFC Life Protect Plus Rider – Linked (UIN: 101A037V01), HDFC Life Health Plus Rider – Linked (UIN: 101A034V01), HDFC Life Waiver of Premium Rider – Linked (UIN: 101A035V01), and HDFC Life LiveWell Rider – Linked (UIN: 101A036V01) are linked, non-participating savings/pure risk premium riders available with this product.

Unit Linked Insurance products are different from traditional life insurance products and are subject to investment risks. The premium paid in Unit Linked Insurance policies is subject to investment risks associated with the capital markets, and the Net Asset Value (NAV) of the units may go up or down based on the performance of the funds and other factors influencing the capital markets. The policyholder is responsible for all investment decisions. 

HDFC Life Insurance Company Limited is the name of the insurance company, HDFC Life is the brand name, and HDFC Life Smart Protect Plus (UIN: 101L187V02) is the name of the Unit Linked Insurance contract. The name of the company, the brand, or the contract does not in any way indicate the quality of the contract, its future prospects, or returns. 

Please understand the associated risks and applicable charges by referring to the policy document, sales brochure, or by consulting your insurance advisor or intermediary. The various funds offered under this contract are only the names of the funds and do not indicate their quality, future prospects, or expected returns.

1. The tax benefits mentioned above are subject to the provisions of the Income Tax Act, 1961, and the applicable terms and conditions. Tax laws are subject to change from time to time. This material has been prepared for informational purposes only and should not be relied upon as tax or accounting advice. Customers are advised to consult their Chartered Accountant or personal tax advisor regarding their individual tax liabilities under the Income Tax Act. 

#Loyalty Additions available under this plan include:

• Return of 2X to 3X Mortality Charges 

• Return of Premium Allocation Charges  

• Return of Fund Management Charges (FMC) 

• Return of 2X Guarantee Charges 

• Maturity Booster