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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 1313 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
    "Better Policy"
    0.5 5.0/5 "Blown Away!"
    From my HDFC LIFE, i have taken my life insurance. The executive came to my place and informed me about the policy details and gave me some offer since it was good, i have selected them. I have been paying the premium amount of Rs. 2500 per month. The policy term is 15 years. I am not sure about the sum assured amount.
    Was this review helpful? 0
    , bangalore
    Reviewed on Oct 10, 2019
  • HDFC Life
    HDFC Life Life Insurance
    "People more aware of their offerings &its better than others"
    0.5 4.0/5 "Great!"
    Basically I did not have any idea about the policy and it was just referred by a friend so have opted the policy, just for an investment perspective. I have received the insurance paper. Their executive explained me about the benefits. I pay 50K to 55K through online and tenure is 12 years.
    Was this review helpful? 0
    , gurgaon
    Reviewed on Sep 18, 2019
  • HDFC Life Life Insurance
    "Good"
    0.5 4.0/5 "Great!"
    HDFC LIFE is offering a good benefits and the charges are nominal when compared with other insurer so I took a term plan with them. They have explained me about benefits of the policy. They need some improvement on the customer service. I have paid 24K for a year.
    Was this review helpful? 0
    , gurgaon
    Reviewed on Sep 03, 2019
  • HDFC Life Life Insurance
    "Average Policy"
    0.5 4.0/5 "Great!"
    Bought my money back policy from HDFC LIFE. Taken the policy in the year of 2016. Earlier i had a salary account with HDFC hence the manager is forcefully to take this policy. I am paying the premium amount of Rs. 25000 annually. I need to pay the premium for 5 years after 5 years there is a lockin period. I get the sum assured amount of Rs. 2.50 lakhs.
    Was this review helpful? 0
    , bangalore
    Reviewed on Aug 27, 2019
  • HDFC Life Life Insurance
    "Quickest way to insure"
    0.5 5.0/5 "Blown Away!"
    Its very to take a policy through online from HDFC. The claim ratio is very nice hence i have chosen the HDFC LIFE. I'm satisfied with the coverage value of Rs. 50 lakhs. I have chosen the annual payments mode. They do have a partial disability cover is included.
    Was this review helpful? 0
    , bangalore
    Reviewed on Aug 25, 2019
  • HDFC Life Life Insurance
    "Coverage for the premium is good"
    0.5 4.0/5 "Great!"
    Chosen my term insurance from HDFC LIFE. HDFC has better claim ratio thats the reason i opted the policy. I make the premium through online every time. I pay the premium amount of Rs. 6600. They have included with disability cover and accidental cover. The premium is less since i purchase the policy through online.
    Was this review helpful? 1
    , bangalore
    Reviewed on Aug 16, 2019
  • HDFC Life Life Insurance
    "Good"
    0.5 4.0/5 "Great!"
    I took a term insurance with HDFC LIFE, I have compared with online site and found they are having good payment rates. The customer service is good. I am satisfied with the benefits. I am doing monthly premium of Rs.2000 and need to pay till 15 years. The payment mode is online.
    Was this review helpful? 1
    , bangalore
    Reviewed on Aug 06, 2019
  • HDFC Life Life Insurance
    "Excellent"
    0.5 5.0/5 "Blown Away!"
    I have a term insurance with HDFC LIFE because the benefits are too beneficial. I am paying 9,400 rupees for a year through net banking. The policy covers till the age of 85. The nominee would be getting a benefit of 75L. They have provide insurance documents on time.
    Was this review helpful? 0
    , mumbai
    Reviewed on Aug 06, 2019
  • HDFC Life Life Insurance
    "Satisfied"
    0.5 4.0/5 "Great!"
    Recently I have purchased a super savings policy from HDFC LIFE. I need to pay the premium for 8 years and after that I will get a profit for every year. They will be providing 10K on monthly basis. I have taken a policy premium of 75K per year. The payment mode is cheque.
    Was this review helpful? 0
    , bangalore
    Reviewed on Aug 02, 2019
  • HDFC Life Life Insurance
    "If you want save tax, purchase this policy"
    0.5 5.0/5 "Blown Away!"
    Bought my life insurance policy from HDFC LIFE. For the tax benefit purpose, i purchase this policy. I am not sure about the plan name. They will double the money in returns at the time maturity and its a long term plan. I pay the premium amount of Rs. 24000 annually.
    Was this review helpful? 0
    , new delhi
    Reviewed on Aug 01, 2019
  • HDFC Life Life Insurance
    "Excellent Plan"
    0.5 5.0/5 "Blown Away!"
    Bought my life insurance from HDFC LIFE. Every year i need to invest the money of Rs. 50000 for first five years. Next 5 years will be a lockin period. After 10 years, i get the money of Rs. 18000 every year for 5 years and at the time of maturity i get a sum assured amount of Rs. 10 lakhs. I bought this policy for daughter's future.
    Was this review helpful? 0
    , bangalore
    Reviewed on Jul 31, 2019
  • HDFC Life Life Insurance
    "Satisfactory"
    0.5 5.0/5 "Blown Away!"
    Actually I was looking for a investment plan with HDFC BANK and they have provided me a life insurance. I never asked them for a policy but still they provided me an opportunity then I researched and found the benefits are also good. I need to pay the premium of 30K half yearly through online.
    Was this review helpful? 0
    , new delhi
    Reviewed on Jul 31, 2019
  • HDFC Life Life Insurance
    "Good Policy"
    0.5 5.0/5 "Blown Away!"
    I have chosen the life insurance policy from HDFC LIFE and the plan is Super Income. For the future salary purpose, i have selected the policy. In this policy, i need to pay the premium for first 10 years and the next years will be lockin period and after i can get a lumpsum amount or else i can convert into monthly payment. I pay the premium amount of Rs. 25000 per annum. They are providing the sum assured amount of Rs. 1.87 lakhs.
    Was this review helpful? 0
    , hyderabad
    Reviewed on Jul 30, 2019
  • HDFC Life Life Insurance
    "GOOD"
    0.5 4.0/5 "Great!"
    I have taken the CHILDREN PLAN with the HDFC LIFE where the maturity period of the policy is for 15 years with the policy. The coverage is for self with the policy is for self added on that the benefit of the policy is in case of any incident happened will be getting the amount and after the maturity there is a sum assured.
    Was this review helpful? 0
    , hyderabad
    Reviewed on Jul 29, 2019
  • HDFC Life Life Insurance
    "GOOD"
    0.5 5.0/5 "Blown Away!"
    I am using the life insurance policy with HDFC LIFE and the maturity period of the policy is for 7 years but the premium have to pay for 5 years. The documents submitted through the offline. The sum assure value of the policy is for 5L. I got the hard copy too.
    Was this review helpful? 1
    , hyderabad
    Reviewed on Jul 27, 2019
  • HDFC Life Life Insurance
    "Need to provide correct details "
    0.5 3.0/5 "Satisfactory"
    I have taken a life insurance in HDFC LIFE on 2 years before. The policy is for 10 years and other 10 years for maturity. I am paying premium in the yearly package. While getting a policy my agent has not given an information about the policy details at an initial they stated offers later that offers are not listed in the benefits. I use to do payment through an online.
    Was this review helpful? 0
    , pune
    Reviewed on Jul 26, 2019
  • HDFC Life Life Insurance
    "Good Policy"
    0.5 4.0/5 "Great!"
    Yearly once I'm paying the premium for my life insurance. My cousin is working in HDFC hence i have taken the policy. I'm satisfied with the sum assured amount. I make the premium through online. I have a HDFC corporate account hence its easy to pay.
    Was this review helpful? 0
    , bangalore
    Reviewed on Jul 26, 2019
  • HDFC Life Life Insurance
    "GOOD"
    0.5 5.0/5 "Blown Away!"
    TERM PLAN using from last few years, the documents submitted through the online as well as the offline process. The premium paying for 6 months, coverage is for self. There is no coverage apart from this. The customer support is good and responsive.
    Was this review helpful? 0
    , hyderabad
    Reviewed on Jul 22, 2019
  • HDFC Life Life Insurance
    "Need to decrease charges"
    0.5 3.0/5 "Satisfactory"
    I have taken a life insurance in HDFC LIFE on 10 days before only. The policy for 12 years.I am paying premium in the monthly package. While getting a policy my agent has given an information about the policy details. They detect amount from my credit card for the payment.Charges are high. EMI is only 945 told at an initial then later it was for 1276 EMI charges per month.
    Was this review helpful? 0
    , hyderabad
    Reviewed on Jul 21, 2019
  • HDFC Life Life Insurance
    "Good for family protection"
    0.5 5.0/5 "Blown Away!"
    I have term plan with HDFC life, I have chosen the sum assured of Rs. 75 lakhs it has the duration of 50 years, life cover is upto 75 years. I make the premium around Rs. 800 per month, it has tax cover, critical illness, waiver on premium at disability. Cancer and Heart attack cover is also there.
    Was this review helpful? 0
    , bangalore
    Reviewed on Jul 19, 2019
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