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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 HDFC Life 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 1244 users
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Plan Benefits

Payment Options

Policy Coverage

Customer Service

Responsiveness

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HDFC Life Super Income Plan Reviews

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  • HDFC Life Life Insurance
    "Satisfactory policy"
    0.5 4.0/5 "Great!"
    I have taken the life insurance of 30L which has addon benefits of critical illness and accidental. I have chosen HDFC LIFE after doing online comparison because the premium is less and the tenure is 15 years but I need to pay only for 10 years and remaining 5 years will be paid by the insurer. The policy was started 3 months back with the monthly premium of 1600 rupees. The customer service is good.
    Was this review helpful? 0
    , hyderabad
    Reviewed on Apr 22, 2019
  • HDFC Life Life Insurance
    "Double benefit plan"
    0.5 5.0/5 "Blown Away!"
    I have ULIP it has the locking period of five years, I used to make the premium around Rs. 1 lakh, it get matured after 23 years. I have been with them around three years , they do have tax saving, financial security feature. I have activated ecs for making the payment.
    Was this review helpful? 0
    , ghaziabad
    Reviewed on Apr 20, 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 selected Rs. 1 crore. Yearly I pay Rs.29,000 to the insurer it has the duration of 25 years. They will be providing the lump sum amount to the nominees and second thing they give Rs.50,000 on monthly basis. They disclosed all the terms and condition to me.
    Was this review helpful? 0
    , ghaziabad
    Reviewed on Apr 20, 2019
  • HDFC Life Life Insurance
    "Good Insurance company"
    0.5 5.0/5 "Blown Away!"
    I took term plan from HDFC Life, by paying the premium Rs. 16,000 on yearly basis it has sum assured of Rs . 50 lakhs. The lump sum amount paid to the nominee in certain demise, I make the payment through ecs. There is a critical illness cover along with waiver option.
    Was this review helpful? 0
    , kadapa
    Reviewed on Apr 20, 2019
  • HDFC Life Life Insurance
    "GOOD"
    0.5 5.0/5 "Blown Away!"
    I am having the life insurance policy with the HDFC LIFE and holding it around from last 10 years. The documentation process was simple and good. The maturity period of this policy is for long term and the coverage is for family. The premium paying for yearly once.
    Was this review helpful? 0
    , indore
    Reviewed on Apr 19, 2019
  • HDFC Life Life Insurance
    "Excellent Service"
    0.5 5.0/5 "Blown Away!"
    I had taken the Term Insurance Policy from them a long time back and the premium had been paying on an annual basis. The premium amount has not been high and the payment method is also high. The policy coverage and the plan benefits with the policy is also pretty good.
    Was this review helpful? 0
    , new delhi
    Reviewed on Apr 17, 2019
  • HDFC Life Life Insurance
    "GOOD"
    0.5 5.0/5 "Blown Away!"
    I am using from last 8 months the life insurance policy with the HDFC LIFE and the premium i pay for monthly once through the credit card. The policy coverage is for family and self. The maturity is for 3 years with this insurance policy. The customer service is good.
    Was this review helpful? 0
    , mumbai
    Reviewed on Apr 17, 2019
  • HDFC Life Life Insurance
    "Good for family protection"
    0.5 5.0/5 "Blown Away!"
    I took personal accidental policy from HDFC Life based on the credit card, last time I paid the premium around Rs. 7000 for 25 lakhs of sum assured its a pure term plan. They give the critical illness if some thing happens to me, they give weekly Rs. 5000 for the treatment. For any certain demise my nominee will be getting the lump sum amount. They took premium from the credit card and converted into emi.
    Was this review helpful? 0
    , chennai
    Reviewed on Apr 17, 2019
  • HDFC Life Life Insurance
    "EXCELLENT"
    0.5 5.0/5 "Blown Away!"
    I am having the life insurance policy with the HDFC LIFE the premium for this policy paying for monthly once added on that there are no issues with this insurance policy. The maturity period of this policy is for long term, the documentation process was smooth.
    Was this review helpful? 0
    , mumbai
    Reviewed on Apr 15, 2019
  • HDFC Life Life Insurance
    "GOOD"
    0.5 5.0/5 "Blown Away!"
    I have purchased the ACCIDENTAL POLICY with the HDFC LIFE where i have been using it since from last 2 years and above. The premium paying was approximately 8k, they provide the coverage upto 20L with this policy. If admitted in hospital can claim for accidents.
    Was this review helpful? 0
    , hyderabad
    Reviewed on Apr 12, 2019
  • HDFC Life Life Insurance
    "All types of risk covered "
    0.5 5.0/5 "Blown Away!"
    This HDFC plan covers all types of risk protection in the future . On annual basis , I need to pay an amount of Rs 3000 /- for next 10 years . So that , I will get an amount of Rs 5 lakh in return . It isa two in one policy .Where I can use it for tax exemption also .
    Was this review helpful? 0
    , secunderabad
    Reviewed on Apr 08, 2019
  • HDFC Life Life Insurance
    "Good Risk protection cover"
    0.5 5.0/5 "Blown Away!"
    Once upon a time in 2012 , HDFC offered me a Impressive offer in life protection policy . I can pay one time payment of Rs 1 lakh 25 thousand for a sum assured of 1 crore . It is completely going to secure my life during risk events like Road accidental death , fire accident .
    Was this review helpful? 0
    , secunderabad
    Reviewed on Apr 04, 2019
  • HDFC Life Life Insurance
    "Good policy"
    0.5 5.0/5 "Blown Away!"
    I have taken super plus saving plan from HDFC LIFE and need to pay premium yearly 52K for 8 years, The benefits are good and one person has referred this policy to me. The customer service is not upto the mark and they need to improve on. After maturity will be getting good amount.
    Was this review helpful? 0
    , hyderabad
    Reviewed on Apr 03, 2019
  • HDFC Life Life Insurance
    "GOOD"
    0.5 5.0/5 "Blown Away!"
    I have been using the life insurance policy with the HDFC LIFE since from last few months and i got this insurance because i have taken the loan. It has the short term policy of 20 years and the policy coverage is for self with this insurance policy.
    Was this review helpful? 0
    , mumbai
    Reviewed on Apr 01, 2019
  • HDFC Life Life Insurance
    "GOOD"
    0.5 5.0/5 "Blown Away!"
    HDFC LIFE is the life insurance provider where i have taken the EULIP policy and the maturity period is this policy is for 20 years and i am using it since from last one year. Premium i am 12K yearly once and the policy coverage is for self with this policy.
    Was this review helpful? 0
    , pune
    Reviewed on Apr 01, 2019
  • HDFC Life Life Insurance
    "Safe and secured investment"
    0.5 4.0/5 "Great!"
    I have different plans with HDFC life called guaranteer plan it has good life coverage and tax benefits. The premium is very reasonable, but it doesn't have the critical illness benefits, the people are friendly I used to get the reminder about the premium.
    Was this review helpful? 0
    , kolkata
    Reviewed on Mar 30, 2019
  • HDFC Life Life Insurance
    "Excellent"
    0.5 5.0/5 "Blown Away!"
    My colleague works in HDFC Life so he guided me to take the policy even I work for Apollo Munich Health insurance. I did not research about the benefits, Its a short term and long term policy. Am paying premium was around 50K per annum through online. They send a executive if I have any query.
    Was this review helpful? 0
    , hyderabad
    Reviewed on Mar 28, 2019
  • HDFC Life Life Insurance
    "Not satisfied"
    0.5 2.0/5 "Expected more"
    I had been applied life insurance with HDFC life recently for my wife,but i did not found comfortable in getting this process,like they use to ask all unnecessary documents which i did not found relevant,and the premium amount they was charging me on monthly basis,now i withdraw all my amount and closed this account.
    Was this review helpful? 0
    , malappuram
    Reviewed on Mar 27, 2019
  • HDFC Life Life Insurance
    "Good for nominees"
    0.5 5.0/5 "Blown Away!"
    I have term plan for Rs. 50 lakhs from HDFC Ergo, I am paying the premium around Rs. 7000 per annum. I need to pay upto 60 years, total life cover upto 80 years. Then nominees will get lump sum amount for certain demise. The customer support is great, I used to pay through online.
    Was this review helpful? 0
    , kolkata
    Reviewed on Mar 25, 2019
  • HDFC Life Life Insurance
    "Good risk & protections coverage "
    0.5 5.0/5 "Blown Away!"
    For my HDFC personal loan , they insisted me to do a life cover by taking Term policy for my life security . HDFC given me a Sum Assured of 16 lakh for 4 years . It is one time payment of around 4 k . It is going to cover all types of risk benefits for the policy holder .
    Was this review helpful? 1
    , bangalore
    Reviewed on Mar 18, 2019
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