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HDFC Life Classic Assure Plus

Overview

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)

10

15

20

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 -

Parameters

Details

Plan Type

Traditional linked participating endowment assurance plan

Basis

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.

Additions/Bonuses

Simple Reversionary Bonus, Terminal Bonus (if any)

Coverage

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

Details

Premiums

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

 4.0 / 5.0   by 1272 users
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Plan Benefits

Payment Options

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Customer Service

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HDFC Life Classic Assure Plus Plan Reviews

Page 1 of 50 1 2 3 4 5
  • HDFC Life Life Insurance
    "GOOD"
    0.5 5.0/5 "Blown Away!"
    I have taken the MONEY BACK policy with HDFC LIFE and using from last one year. The policy coverage is for self added on that the policy maturity period is fir self, i have got no cash backs so far with this policy. Premium paying for yearly once.
    Was this review helpful? 0
    , chennai
    Reviewed on Jun 16, 2019
  • HDFC Life
    HDFC Life Life Insurance
    "EXCELLENT"
    0.5 5.0/5 "Blown Away!"
    TERM plan that i am using with the HDFC LIFE since from last 2 months. It gives the coverage of the critical illness and also accidental death coverage and permanent disability also there is no need of paying for these coverage. The coverage for self, premium paying for yearly once of 11500 rupees approximately.
    Was this review helpful? 0
    , chennai
    Reviewed on Jun 12, 2019
  • HDFC Life Life Insurance
    "EXCELLENT"
    0.5 5.0/5 "Blown Away!"
    I am using the ULIP plan with the HDFC LIFE since 6 months, the reason for taking the policy is my friend recommended because features are good. The premium paying for 50K for yearly once through online. The documentation process was done through online and the medical test taken at home. The maturity period is for 15 years, lock in period 5 years.
    Was this review helpful? 0
    , chennai
    Reviewed on Jun 12, 2019
  • HDFC Life Life Insurance
    "BETTER"
    0.5 3.0/5 "Satisfactory"
    I am using the policy of HDFC LIFE since from last 7 years, the name of the policy is children plan. It gives the coverage for self and children. The premium paying for yearly once with this policy also the maturity period is for 15 years with this policy.
    Was this review helpful? 0
    , hyderabad
    Reviewed on Jun 08, 2019
  • HDFC Life Life Insurance
    "Excellent"
    0.5 5.0/5 "Blown Away!"
    I have taken a life insurance in HDFC LIFE. The policy is for 10 years. Now I am paying premium in the annual package. While getting a policy my agent has given an information about the policy details and provided hard copy documents as well. I use to do payment through an online.
    Was this review helpful? 0
    , chennai
    Reviewed on Jun 07, 2019
  • HDFC Life Life Insurance
    "GOOD"
    0.5 3.0/5 "Satisfactory"
    I have taken the ACCIDENTAL POLICY with the HDFC LIFE where the policy i am using it since from last 2 years. The premium paid for first year was 5400 rupees and second year it was 6800 rupees and the coverage is 3L and above. The listed hospital is far away from my place.
    Was this review helpful? 1
    , hyderabad
    Reviewed on Jun 04, 2019
  • HDFC Life Life Insurance
    "Good"
    0.5 5.0/5 "Blown Away!"
    I have taken a life insurance in HDFC LIFE. The policy is for ten years. Now I am paying premium in the yearly package. While getting a policy my agent has given an information about the policy details and provided hard copy documents as well. I use to do payments through an online.
    Was this review helpful? 0
    , hyderabad
    Reviewed on May 30, 2019
  • HDFC Life Life Insurance
    "Good for family member protection"
    0.5 5.0/5 "Blown Away!"
    I pay Rs. 14,000 premium to HDFC life for the term plan. I selected the sum assured of Rs. 1 crore. I added one nominee even their claim settlement ratio and grievance resolved is good, at the time of taking policy they explained all. I make the payment through online payment they have critical illness and premium terminal on disabilities.
    Was this review helpful? 0
    , bangalore
    Reviewed on May 30, 2019
  • HDFC Life Life Insurance
    "Good service"
    0.5 4.0/5 "Great!"
    I have been holding my life insurance with HDFC Life, their service is good they have charged premium on monthly basis, i use to pay premium amount through on line and their customer service is good they explained me about all policy it cover in this life insurance.Their overall service is good.
    Was this review helpful? 0
    , chandigarh
    Reviewed on May 29, 2019
  • HDFC Life Life Insurance
    "Good insurance policy"
    0.5 4.0/5 "Great!"
    I have purchased my life insurance policy from HDFC LIFE and i have chosen the policy name called Classic Assure. For the future purpose i have purchased this policy. I like the features and benefits of the policy. The policy coverage is better
    Was this review helpful? 0
    , hyderabad
    Reviewed on May 29, 2019
  • HDFC Life Life Insurance
    "Worth Policy"
    0.5 4.0/5 "Great!"
    Purchased my term insurance policy from HDFC LIFE. The coverage was far better than any other company. This covers for partial disability and critical illness. I have chosen because of the benefits. I pay the premium amount of Rs. 20000 yearly basis and the coverage is very much convenient for me.
    Was this review helpful? 0
    , vadodara
    Reviewed on May 28, 2019
  • HDFC Life Life Insurance
    "GOOD"
    0.5 4.0/5 "Great!"
    I have taken the life insurance policy with the HDFC LIFE and paid for 5 years latter i have discontinued with this policy because the agent has given wrong info regarding the policy so i got very lesser returns with this policy. The policy is a good policy if continued till end.
    Was this review helpful? 0
    , hyderabad
    Reviewed on May 27, 2019
  • HDFC Life Life Insurance
    "Good"
    0.5 4.0/5 "Great!"
    I have taken a life insurance in HDFC LIFE 8 months before. The policy is for 10 years. Now I am paying premium in the yearly package. I came to know an information about the policy details and received a documents as well. The amount will get detect from credit card for the payment.
    Was this review helpful? 0
    , bangalore
    Reviewed on May 27, 2019
  • HDFC Life Life Insurance
    "Good Service"
    0.5 3.5/5 "Pretty good"
    I have taken Life insurance through HDFC Life .The agent gave all the required information.The agent gave all the details about the policy .There was no issues faced so far .I am satisfied with the service .The policy documents received on time .I am comfortable with the service so far.
    Was this review helpful? 0
    , chennai
    Reviewed on May 24, 2019
  • HDFC Life Life Insurance
    "Not so Good Policy"
    0.5 1.0/5 "Really Bad"
    In 2004, i have chosen the life insurance policy from HDFC Life. Since i have a savings account with them, the manager has referred me to take the policy from HDFC LIFE. But the policy is expired. After i taken the policy i went to the branch to make the payment but they said my policy got collapsed because of late payment. They said i need to make the payment every year with the amount of Rs. 10,500 which they have not informed earlier and i don't receive any updates regarding this.
    Was this review helpful? 0
    , hyderabad
    Reviewed on May 24, 2019
  • HDFC Life Life Insurance
    "Its Fine"
    0.5 5.0/5 "Blown Away!"
    I have ULIP plan in HDFC Life, if I close the plan within five year take liquidity charges many people not aware of it. Finally they take huge amount. Its a nice plan for life cover, tax saving and other benefits. However if I miss my premium plan wont lapse but charges are higher.
    Was this review helpful? 0
    , bangalore
    Reviewed on May 24, 2019
  • HDFC Life Life Insurance
    "Average Policy"
    0.5 3.0/5 "Satisfactory"
    I have invested in money back in HDFC. They are very perfect in all the things hence i have chosen the HDFC life. 6 months back, i got this policy. I pay this premium amount of Rs. 10000 every year. Total tenure period of the policy is 5 year with a coverage amount of Rs. 3 lakhs.
    Was this review helpful? 0
    , bangalore
    Reviewed on May 22, 2019
  • HDFC Life Life Insurance
    "Excellent Service"
    0.5 5.0/5 "Blown Away!"
    I have taken a life insurance in HDFC LIFE. The policy is for 50 years. Now I am paying premium in the yearly package for the amount of 15 thousands. While getting a policy my agent has given an information about the policy details. I use to do payment through an online.
    Was this review helpful? 0
    , thane
    Reviewed on May 21, 2019
  • HDFC Life Life Insurance
    "GOOD"
    0.5 4.0/5 "Great!"
    I have purchased the SUPER MONTHLY INCOME PLAN where using it since from last few years. The policy coverage is for self and the premium applying for monthly once with this policy. It has the risk coverage but the policy is comfortable to use.
    Was this review helpful? 0
    , hyderabad
    Reviewed on May 14, 2019
  • HDFC Life Life Insurance
    "GOOD"
    0.5 4.0/5 "Great!"
    I have purchased the YOUNGSTAR plan with the HDFC LIFE and using it since from last 4-5 years. and it is based on the shares and mutual fund if the share market is high so the returns are higher. I get the intimation regarding the premium paid receipt so i can take the copy of the premium paid bill.
    Was this review helpful? 0
    , thane
    Reviewed on May 11, 2019
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