HDFC Life Assured Gain Plus - Benefits

  • Death Benefits:
  • HDFC Life Assured Gain Plus ensures your family is financially protected by paying them:
  • Sum Assured on death, plus
  • Applicable Guaranteed Terminal Additions
  • Vested Simple Reversionary Bonus (if declared), plus
  • Terminal Bonus (if declared)

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  • Maturity Benefit:
  • On completion of the policy term, HDFC Life Assured Gain Plus helps you achieve your financial goals and reach important milestones in your life by paying:
  • Sum Assured on Maturity
  • Applicable Guaranteed Terminal Additions
  • Vested Simple Reversionary Bonus (if declared)
  • Terminal Bonus (if declared)
  • The maturity benefit shall not be less than 101% of the total premiums payable under the policy, excluding taxes, rider premiums, and premiums paid for extra mortality loading, if any.

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  • Terms and Conditions
  • A. Grace Period:
  • A grace period is not applicable for single-premium policies. For policies with monthly premiums, a 15-day grace period is allowed. For quarterly, half-yearly, or annual premiums, a 30-day grace period is allowed from the premium due date to make the payment. Part-payment of the premium is not accepted. The policy remains in force with risk cover during the grace period without interruption, as per the policy terms and conditions.
  • In the event of a valid claim during the grace period, before payment of the due premium, the claim amount will be paid after deducting the due modal premium.
  • B. Lapsation:
  • A single premium policy does not lapse. For Limited Premium Payment Term policies (5 years), if at least one full year’s premium is not paid, the policy will lapse on the expiry date of the grace period. Once the policy lapses, all benefits under the policy will cease until the policy is revived to restore full benefits.
  • C. Reduced Paid-up:
  • For Limited Premium Payment Term policies (5 years), if at least one full year’s premium has been paid but subsequent premiums remain unpaid, and the policy is not surrendered, it will acquire the status of reduced paid-up on the expiry date of the grace period until the policy is revived to restore full benefits.
  • D. Revival:
  • If your policy has been discontinued due to non-payment of premium, it may be revived or restored by the insurer with all benefits mentioned in the policy document, with or without rider benefits (if any), upon receipt of all due premiums and other charges or late fees during the revival period. Revival will be subject to the insurer’s satisfaction regarding the continued insurability of the insured/policyholder based on information, documents, and reports provided by the policyholder per the Board-approved Underwriting Policy.
  • E. Surrender:
  • To meet unexpected commitments or needs, a surrender option is available. The policyholder may surrender the policy during the policy term. The surrender benefit will be the higher of the Guaranteed Surrender Value (GSV) and the Special Surrender Value (SSV). A single premium policy can be surrendered at any time during the policy term. For Limited Premium Payment Term policies (5 years), the policy will acquire a surrender value after completion of the first policy year, provided one full year’s premium has been received. Surrender benefits are payable immediately upon surrender. All benefits under the policy will automatically terminate upon payment of the surrender benefit.
  • Guaranteed Surrender Value (GSV):
  • For single premium policies, the policy acquires a Guaranteed Surrender Value at policy inception. For Limited Premium Payment Term policies (5 years), the policy acquires a GSV if at least two full years’ premiums have been paid. The GSV depends on the year of surrender. It is calculated as the sum of:
  • GSV Factor 1 multiplied by the total premiums paid, excluding rider premiums and premiums for extra mortality rating, if any.
  • GSV Factor 2 multiplied by the total vested simple reversionary bonus, if declared, up to the date of surrender.
  • Special Surrender Value (SSV):
  • The Special Surrender Value becomes payable after completion of the first policy year, provided one full year’s premium has been received. For single-premium policies, the SSV becomes payable immediately upon receipt of the single premium. The SSV shall be at least equal to the expected present value of:
  • (a) The paid-up sum assured on all contingencies covered,
    (b) Paid-up future benefits (such as income benefits), if any, and
    (c) Accrued or vested benefits, duly allowing for survival benefits already paid, if any.
  • All benefits under the policy will automatically terminate upon payment of the surrender value.
  • Policy Loan:
  • Policy loans will be available during the policy term, subject to the terms and conditions specified by the company from time to time. Our current terms and conditions are as follows:
  • The loan amount will be subject to a maximum of 80% of the surrender value.
  • The current interest rate on loans is 9.5% p.a. The interest rate is calculated as the average annualised 10-year benchmark G-Sec yield (over the last 6 months and rounded up to the nearest 50 basis points) plus 2%. The interest rate will be reviewed half-yearly, with any changes effective from 25th February and 25th August each year.
  • G. Suicide:
  • In case of death due to suicide within 12 months from the commencement of risk under the policy or from the date of revival of the policy, as applicable, the nominee or beneficiary shall be entitled to at least 80% of the total premiums paid up to the date of death or the surrender value available on the date of death, whichever is higher, provided the policy is in force.
  • Risk Factor
  • A) HDFC Life Assured Gain Plus is an individual, non-linked, participating savings life insurance plan.
    B) HDFC Life Insurance Company Limited is only the name of the insurance company, and HDFC Life Assured Gain Plus is only the name of the product. Neither indicates the quality of the product, its future prospects, or returns.
    C) This product guarantees the Sum Assured on Maturity, Sum Assured on Death, and Guaranteed Terminal Additions, subject to all premiums being paid.
    D) Simple reversionary bonuses and terminal bonuses are not guaranteed and depend on the participating fund’s performance.
    E) Past performance is not an indication of future performance.
    F) The purpose of this brochure is to provide a general overview of this policy. The information herein is indicative of the terms, conditions, warranties, and exceptions contained in the policy terms and conditions of HDFC Life Assured Gain Plus. Please refer to the policy terms and conditions to understand in detail the associated risks, benefits, and more.
    G) In the event of any inconsistency or ambiguity between the terms contained herein and the policy terms and conditions, the policy terms and conditions shall prevail.
    H) Acceptance of the proposal shall be subject to the prevailing Board-approved underwriting policy.

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  • Click here to learn more about the HDFC Life Assured Gain Plus.
  • Disclaimer: Terms and conditions apply. HDFC Life Assured Gain Plus approvals are at the sole discretion of HDFC Bank Limited and are subject to documentation and verification as per the Bank's requirements. Interest rates are subject to change. Please check with your RM or the closest bank branch for current interest rates.

Frequently Asked Questions

The death benefit of HDFC Life Assured Gain Plus pays the sum assured on death, guaranteed terminal additions, vested simple reversionary bonus (if declared), and terminal bonus (if declared) to the nominee, ensuring financial protection for the family.

On maturity, HDFC Life Assured Gain Plus pays the sum assured on maturity, guaranteed terminal additions, vested simple reversionary bonus (if declared), and terminal bonus (if declared), helping you achieve financial goals. The maturity amount is at least 101% of the total premiums paid (excluding taxes).

HDFC Life Assured Gain Plus is an individual non-linked, participating savings life insurance plan. It participates in the insurer's profits but does not directly link to market investments.

The simple reversionary bonuses and terminal bonuses under HDFC Life Assured Gain Plus are not guaranteed. They depend on the participating fund’s performance and may vary depending on future company results.

For monthly premiums, a 15-day grace period applies; for quarterly, half-yearly, or annual premiums, it’s 30 days. The policy remains active during this period, but unpaid premiums must be cleared to avoid lapsation or reduced benefits.

Yes, for limited premium payment term policies (5 years), if at least one full year’s premium is not paid, the policy lapses after the grace period. Single premium policies do not lapse.

If at least one full year’s premium is paid but subsequent premiums are missed, the policy becomes reduced paid-up after the grace period. Benefits are reduced proportionally until the policy is revived with full payments.

You can revive your policy by paying all due premiums and charges within the revival period. The insurer may require information or medical reports to confirm insurability before restoring full benefits.

Yes, surrender is permitted at any time during the policy term. The surrender benefit is the higher of the Guaranteed Surrender Value (GSV) or the Special Surrender Value (SSV). Surrender terminates all benefits immediately.

GSV is calculated by multiplying GSV factors with total premiums paid (excluding rider and extra mortality premiums) and the vested simple reversionary bonus, if any, depending on the policy year and surrender time.

SSV is payable after the first policy year, provided at least one full premium has been paid. For single premium policies, SSV is payable immediately. It reflects the present value of the paid-up sum assured and accrued benefits.

Yes, loans up to 80% of the surrender value are available during the policy term. Interest rates are reviewed semi-annually and currently stand at 9.5% per annum, linked to government security yields plus 2%.

If death occurs by suicide within 12 months of policy start or revival, the nominee receives at least 80% of the total premiums paid or the surrender value, whichever is higher, provided the policy is in force at death.

Sum Assured on Maturity is the amount guaranteed to be paid to you when the policy matures.

We understand and value your expectations, so we provide an amount called Guaranteed Terminal Additions. This is calculated as a percentage of the Sum Assured on Maturity. It is paid either on policy maturity or in the event of an unfortunate death, whichever occurs earlier, starting from the end of the 5th policy year, as applicable.

Your policy is eligible for bonuses during the policy term. The company may declare a Simple Reversionary Bonus (SRB) annually throughout the policy term, which will be vested and paid either on death or on the policy maturity date, whichever is earlier. The company may also declare a terminal bonus if any, payable on death during the policy term or on the policy maturity date, whichever is earlier. Bonuses are non-guaranteed and declared as a percentage of the Sum Assured on Maturity under the policy. Once declared, the bonuses become guaranteed.