HDFC Life Classic Assure Plus


A traditional linked participating endowment assurance plan that is tailored towards providing better returns on the money invested in addition to the that is provided. This is a limited premium paying plan meant for people who wish to have a secure financial retirement or are planning to attain a lump sum value through limited investment.

Eligibility Conditions for HDFC Life Classic Assure Plus Plan

The plan has three policy terms and as per those, the eligibility conditions for availing can be depicted in the table mentioned below -

Policy Term (Years)




Minimum Entry Age

8 years

3 years

30 days

Maximum Entry Age

55 years

60 years

55 years

Maximum Maturity Age

65 years

75 years

75 years

Key Features of HDFC Classic Assure Plus

This plan meant for wealth addition has the following salient features -



Plan Type

Traditional linked participating endowment assurance plan


Individual policy

Policy Term

10 years, 15 years, 20 years

Policy Validity

Will be for the chosen policy term in case all premiums have been paid

Basic Sum Assured

Rs. 49,447 for 10-year term, Rs. 48,032 for 15-year term, Rs. 73,516 for 20-year term. No maximum cap.


Simple Reversionary Bonus, Terminal Bonus (if any)


Maturity Benefit = Sum Assured + Simple Reversionary Bonuses + Terminal Bonus (subject to availability)


Death Benefit = Higher of (Sum Assured, 10 times annualised premium and 105% of all premiums paid) + Simple Reversionary Bonuses + Terminal Bonus (subject to availability)


Surrender Benefit = Guaranteed Surrender Value or Special Surrender Value (subject to payment of premiums of 2 years or 3 years as the case may be)

Free look Period

30 days in case of online purchase. 15 days otherwise

Grace Period

15 days for monthly payment, 30 days for all other payment frequencies

Nomination and Assignment

Nomination and assignment facility available but only one can be chosen at a time

Reinstatement or revival

Policy, if not surrendered, can be revived within two years from the date of last unpaid premium.

Benefits and Advantages of Classic Assure Plus Policy

This plan from HDFC Life is meant for people wishing to build a corpus that would aid in a smoother financial scenario during retirement or help in a large planned expense. The life cover provided by the plan is an added bonus. The key advantages in opting for this plan can be mentioned in the following points -

  1. Life cover is present throughout the policy term
  2. Limited pay of premiums doesn’t require policyholder to keep on investing throughout the policy term
  3. Applicable tax benefits for life insurance policy can be availed as per Section 80C and 10(10D) of the Income Tax Act
  4. Policy terms are available in three options and convenient enough to allow for a planned lump sum return

The key benefits under this policy can be explained as below -

  1. Maturity Benefit - Paid once the policy reaches the maturity age, after the completion of the policy term, this amount can be paid to the policyholder or nominee. This amount includes the Sum Assured and if applicable, Simple Reversionary Bonuses and Terminal Bonus
  2. Death Benefit - In case of the death of the insured life, Death Benefit will be payable to the nominee. Accrued Simple Reversionary Bonuses and Terminal Bonus if any, will also be payable. The base amount payable will be higher of 105% of all the premiums paid, 10 times annualised premium and sum assured
  3. Surrender Benefit - In case 2 years’ premiums have been paid for a paying term of 7 years and 3 years’ premiums have been paid for a paying term of 10 years, the policy would acquire a Guaranteed Surrender Value and the same will be paid to the policyholder. In certain cases, may also pay an amount higher than the GSV
  4. Tax Benefit - The contributions made towards the premiums of this policy can be tax deductible as per Section 80C and the received benefits can fall under Section 10(10D). Though these benefits are dependent on the prevailing tax laws

Premium Payment for HDFC Life Classic Assure Plus Policy

The details of premium payment for this plan can be summarised in the table below -

Premium Parameter



Minimum of Rs. 12,000 per annum and no maximum limit

Premium Paying Term (PPT)

Limited. 7 years PPT for 10 years Policy Term, 7 or 10 years PPT for 15 years Policy Term, 10 years PPT for 20 years Policy Term

Premium Paying Frequency

Premiums can be paid in monthly, quarterly, half-yearly and annual frequencies

Premium Paying Modes

ECS, debit cards, credit cards, cheques and other acceptable modes


GST of 18% is applicable on life insurance effective from the 1st of July, 2017

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