HDFC Life Super Income Plan

Overview

The HDFC Life Super Income Plan is one of the most popular life insurance product offered by HDFC. It is a participating regular income life insurance plan and it offers guaranteed regular income for term of 8 to 15 years. The plan is a must buy for those individuals who want to safeguard themselves and their near ones from financial instabilities in future. This is a money back policy and provides attractive bonus, apart from offering guaranteed regular income.

Eligibility Conditions for HDFC Life Super Income Plan:

Minimum Entry age

2 years for a policy tem of 16 years

30 days for policy terms 18 to 27 years.

Maximum Entry Age

59 years for a policy term of 16 years.

57 years for a policy term of 18 years.

55 years for a policy term of 20 years.

51 years for a policy term of 24 years.

48 years for a policy term of 27 years.

Minimum age at maturity

18 years

Maximum age at maturity

75 years

Key Features of HDFC Life Super Income Plan

Listed below the key features of HDFC Life Super Income Plan:

Plan type

Participating regular income plan.

Plan basis

Individual

Premium paying terms

8, 10 and 12 years.

Policy term

16, 18, 20, 22, 24, 27 years.

Maturity benefits

220% to 325% of sum assured.

Premium payment frequency

Monthly, quarterly, half-yearly and annually

Guaranteed Base Income per year

8% or 12.5 % of sum assured.

Free-look period

  • 15 days for manually purchased policy

  • 30 days for policies purchased online.

Grace period

  • 15 days for monthly mode polices

  • 30 days for yearly, half-yearly and quarterly mode policies.

Policy revival

The policy can revived within the policy revival period.

Nomination

Nomination is accepted under this policy.

Sum Assured

Minimum: Rs. 128,337.

Maximum: There is no limit.

Policy coverage

Death benefits and maturity benefits.

Bonuses

Accrued revisionary bonus and terminal bonus.

Premium alteration

Alternation in premium payment frequency is allowed.

Benefits/Advantages of HDFC Life Super Income Plan

Listed below are the major benefits offered by the HDFC Life Super Income Plan

  • Tax benefits: Policyholder gets tax benefits on the premiums paid for the HDFC Life Super Income Plan under section 80C of the Income Tax of India, 1961. Besides, benefits received as regular income and maturity benefits will also be free from tax under section 10(10D) of the same act.
  • Death benefits: The policy offers death benefits to the nominee, in case the life assured dies within the policy tenure. It offers one of the followings as death benefits: basic sum assured along with accrued revisionary bonus, terminal bonus and interim bonus (if any) or 105% of total premiums paid till death.
  • Policy loan: The policyholder can avail loan against the Super Income Plan, provided the policy has received surrender value. He/she can avail loan up to 80% of the surrender value.
  • Surrender benefits: The policy also offers surrender benefits, provided the policy is continued for a particular period. If your policy term is 8 years and the policy is counted for 2 complete years, it will acquire guaranteed surrender value which is the total of a % of total premium paid and accrued bonuses.
  • Guaranteed base income: The plan offers guaranteed base in come per year which is 8% to 12.5% of the basic sum assured per year. The total guaranteed base income offered by the plan range from 100% to 120% of the sum assured which is paid at maturity.
  • Bonuses: The HDFC Super Income Plan offers revisionary and terminal bonuses, if applicable. The revisionary bonus is give announced at the end of each financial year. Terminal bonus is paid in lump-sum at the end of the policy term.
  • The policy also offers rebate on high sum assured.
  • You can receive regular income for a payout tenure of 8 to 15 years.
  • The policy offers a lot of flexibilities. You can choose your premium payment frequency and policy term as your convenience.

How the HDFC Life Super Income Plan Work

The HDFC Life Super Income Plan provides 6 options out of which you can choose as per your needs. Listed below are the options offered by the plan:

Options

Premium Payment Term (PPT)

Payout period (yearly)

Policy term ( PPT+ Payout period)

1

8

8

16

2

8

10

18

3

10

12

20

4

10

12

22

5

12

12

24

6

12

15

27

Thus, if you take an HDFC Life Super Income Plan for 16 years by choosing a premium paying term of 8 years, you will receive guaranteed payouts at eh end of every year after completing your premium paying term. Also, the policy will offer maturity benefits at the end.

Premium Payment

Frequency

Minimum premium per installment

Maximum premium per instalment

Monthly

Rs. 2,000

No limit

Qutaerly

Rs. 6,000

No limit

Half- yearly

Rs.12,000

No limit

Yearly

Rs. 25,000

No limit

Riders:

The HDFC Life Super Income Plan does not offer any add-on covers.

The HDFC Life Super Income Plan can really help your fulfill you an your family’s long cherished dreams by providing enhanced financial security.

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

 4.0 / 5.0   by 1334 users
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HDFC Life Super Income Plan Reviews

Write a Review
Page 1 of 50 1 2 3 4 5
  • HDFC Life Life Insurance
    "Good insurer"
    0.5 5.0/5 "Blown Away!"
    I have taken a life insurance from HDFC Life on 5 years back. It cover up to myself. I am paying the premium amount on yearly basis of 50K which is high but it is fine to pay the amount. While taking this insurance the agent has given all the details about policy.
    Was this review helpful? 0
    , chennai
    Reviewed on Feb 22, 2020
  • HDFC Life
    HDFC Life Life Insurance
    "Good"
    0.5 4.0/5 "Great!"
    I have taken a life insurance policy from HDFC LIFE. The premium i am paying yearly Rs.26,000 with the term of 20 years, after 20 years i will be getting good returns. Customer service and responsiveness was good. This policy has good plan benefit and it has good coverage.
    Was this review helpful? 0
    , kolkata
    Reviewed on Feb 21, 2020
  • HDFC Life Life Insurance
    "Coustmer care very very very service ð???ð???ð???"
    0.5 0.5/5 "Unacceptable"
    Very very very very very very very very very very bad service. Coustmer care hold my call for 15 mint. Then cencel the call. No service provide. I am call again but no response, not pick the call. Again cancel the call. Very very very very very very very very very very bad service. Very very very very very very very very very very bad service. ð???ð???ð???
    Was this review helpful? 0
    , dharamshala
    Reviewed on Feb 17, 2020
  • HDFC Life Life Insurance
    "Best policy"
    0.5 5.0/5 "Blown Away!"
    I have taken a life insurance policy from HDFC LIFE. The premium i am paying yearly Rs.5K with the term of 20 years. I am using this plan more than 8 years. After 20 years i will be getting some good returns. Customer service and responsiveness was good.
    Was this review helpful? 0
    , kolkata
    Reviewed on Feb 14, 2020
  • HDFC Life Life Insurance
    "Good policy "
    0.5 4.0/5 "Great!"
    I have taken life insurance from HDFC Life on last year. It is a money back policy. I am not aware benefits of this policy. The premium amount of 50K need to pay on yearly basis. It covers my whole family. The coverage amount of 30L. I got terms and conditions from the agent and received hard copy on time. For my good purpose I had taken this policy.
    Was this review helpful? 0
    , new delhi
    Reviewed on Feb 14, 2020
  • HDFC Life Life Insurance
    "Poor Customer Service"
    0.5 2.0/5 "Expected more"
    I took term plan from HDFC Life Click to protect. It took them 25 days to complete the medical test and more then 40 days passed an still the policy is not issued. Extremely poor experience. If this is the situation before issuing the policy, i don't know what my family shall have to go through in my absence ( when there is actually need for the policy money). Tall claims, poor performance.
    Was this review helpful? 0
    , mumbai
    Reviewed on Feb 08, 2020
  • HDFC Life Life Insurance
    "Excellent"
    0.5 5.0/5 "Blown Away!"
    I have taken life insurance from HDFC Life on 4 years back. It is Life super income plan. The tenure period is 20 years.The main advantage is premium free for 10 years. On yearly basis use to pay of 25K which is auto debited from my salary account. The coverage value is 9.5L.
    Was this review helpful? 0
    , kolkata
    Reviewed on Feb 06, 2020
  • HDFC Life Life Insurance
    "Excellent "
    0.5 5.0/5 "Blown Away!"
    I have taken a term plan from HDFC Life on few years before. The coverage amount is 5L. The tenure period of 45 years. So far I have not faced any difficulty and there is no additional charges for this policy.I use to pay the premium amount of 12K on yearly basis. I had received hard copy of documents on time from their end.
    Was this review helpful? 0
    , kolkata
    Reviewed on Feb 06, 2020
  • HDFC Life Life Insurance
    "Need to provide hard copy document"
    0.5 4.0/5 "Great!"
    HDFC LIFE has offered a life insurance on few year before. At the time agent has given all the details of this policy but main drawback is they haven't provide hard copy document rather given only soft copy. It covers up to myself. Premium amount use to pay on monthly basis which be auto debit from my account. There is no any additional charge for this policy.
    Was this review helpful? 0
    , gulbarga
    Reviewed on Feb 05, 2020
  • HDFC Life Life Insurance
    "Good insurer"
    0.5 4.0/5 "Great!"
    My son in law has suggested a life insurance to take from HDFC Life. So I have taken on 2 years before. It covers my whole family. It is a single payment for this insurance. I am not aware about tenure period. I got all details about this policy and got documents on time.
    Was this review helpful? 0
    , hyderabad
    Reviewed on Jan 20, 2020
  • HDFC Life Life Insurance
    "Good service"
    0.5 4.0/5 "Great!"
    I have taken Life Insurance through HDFC Life directly .This policy tenure is for 45years.I am paying the premium through Axis Bank auto debit system .I am paying the premium on yealry basis and this policy is still active on my name .I have got all the update about the policy through the agent .Even got my policy documents on time as well.This policy is highly beneficial and will be useful for my family.
    Was this review helpful? 0
    , secunderabad
    Reviewed on Jan 17, 2020
  • HDFC Life Life Insurance
    "Supportive policy"
    0.5 5.0/5 "Blown Away!"
    I have bought HDFC bank credit card, so they have provided me a life insurance policy from HDFC LIFE. They are sending by courier on every year regarding the policy renewal details and coverage amount. Agent has clearly explained me about the policy benefits hence i took it. I pay the premium amount of Rs. 2500 on a yearly basis. This policy has cover for hospitalization and death cover.
    Was this review helpful? 0
    , pondicherry
    Reviewed on Jan 06, 2020
  • HDFC Life Life Insurance
    "Good to go with"
    0.5 5.0/5 "Blown Away!"
    Its a better plan. HDFC offers me low premium insurance for my life cover. Their executive approached me directly to take this policy. Its a accidental cum death covered policy. I have been paying the premium amount of Rs. 5000 which covers for Rs. 25 lakhs. This premium is valid for 2 years. Tax benefit is not included.
    Was this review helpful? 0
    , hyderabad
    Reviewed on Jan 03, 2020
  • HDFC Life Life Insurance
    "Very Good Policy"
    0.5 5.0/5 "Blown Away!"
    From HDFC LIFE, i have bought the life insurance policy its because of the service and i have a various such as credit card, savings account with them. I pay the premium amount of Rs. 25000 on a yearly basis. I have no idea about the sum assured amount. They will sent a reminder regarding the due date for that i will sent a reply with CC of the branch manager and the relationship manager. This policy has term period of 5 years.
    Was this review helpful? 0
    , coimbatore
    Reviewed on Dec 23, 2019
  • HDFC Life Life Insurance
    "Need to improve the customer support"
    0.5 3.0/5 "Satisfactory"
    Purchased my endowment policy from HDFC LIFE. I bought the policy 5 years before. When i opened the savings account, they asked me to take the life insurance policy. I have been paying the premium amount of Rs. 50000 yearly. They are providing the sum assured amount of Rs. 10 lakhs. When i contact the customer care, they didn't give me any proper response.
    Was this review helpful? 0
    , coimbatore
    Reviewed on Dec 17, 2019
  • HDFC Life Life Insurance
    "Worst Life Insurance Company Ever"
    0.5 0.5/5 "Unacceptable"
    HDFC Life is one of the worst companies you would want to take your life insurance from. I am writing this review with my personal experience + experiences of some other users who purchased the policy. They are running a scam where about 1 yr after issuing your policy, they automatically cancel it, citing "non disclosure of pre-existing illness" as the reason. The same thing happend with me and many others. I have no such reported illness of any kind. And even if I had, why was the policy issued in the first place? Upon my request to provide an explanation or more detail about this 'illness', no respone was given to me, neither by HDFCLife nor by Policybazaar, through which I had purchased this policy. I was cheated of my one-year premium amount and my policy was lapsed. If you are at all serious about preserving your mental and financial well-being, do not go anywhere near any of these two companies. They are the biggest fraud in the life insurance market.
    Was this review helpful? 2
    , jaipur
    Reviewed on Dec 13, 2019
  • HDFC Life Life Insurance
    "Useful Plan for the child education"
    0.5 4.0/5 "Great!"
    My life insurance was purchased from HDFC LIFC. When i purchased the credit card, they have approached me for the life insurance and its child plan hence the premium amount is automatically deducted from my account. I didn't compare this policy with other plan. Its a tax benefitable policy.
    Was this review helpful? 1
    , chennai
    Reviewed on Dec 05, 2019
  • HDFC Life Life Insurance
    "Better Policy"
    0.5 4.0/5 "Great!"
    I'm having a policy from HDFC LIFE. When I taken the home loan, they have provided me a life insurance policy hence I'm not aware of the policy details. I had done the payment for once, so it avails until the loan close. I have paid the premium amount of Rs. 2.5L which covers for 11 years.
    Was this review helpful? 0
    , navi mumbai
    Reviewed on Nov 25, 2019
  • HDFC Life Life Insurance
    "Good policy"
    0.5 4.0/5 "Great!"
    When i purchased the two wheeler loan, they have given me a additional life insurance policy from HDFC LIFE. This policy has a coverage value of Rs. 1 lakhs. I have paid the premium amount of Rs. 1300 which is a one shot payment covers for 3 years. They have sent the documents to my mail id.
    Was this review helpful? 0
    , chennai
    Reviewed on Oct 23, 2019
  • HDFC Life Life Insurance
    "Good"
    0.5 5.0/5 "Blown Away!"
    I have started life policy in HDFC LIFE 2years ago, am paying premium of 43K per year and the tenure is 15years. I did not remember the policy name. Am getting the statements within 5mins through my email address when I make the payment through online.
    Was this review helpful? 0
    , kochi
    Reviewed on Oct 19, 2019
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