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  • HDFC SL ProGrowth Super II

    HDFC Life Insurance

    Overview

    Would you settle for anything for the best when it comes to the needs and wants of your family or yourself? If the answer to this question in No, then you need to start with a united linked plan smart savings-cum-insurance. The HDFC SL ProGrowth Super II - ULIP will help you give your family the best now and also in the future.

    Eligibility Conditions for HDFC Life ProGrowth Super II Plan

    The eligibility conditions for this HDFC Life policy are displayed in the table below -

    Particulars

    Min and Max term age

    Min and Max entry age

    Maturity age

    Life Options

    10 - 30 years

    14 - 65 years

    75 years

    Extra Life Options

    10 - 30 years

    18 - 55 years

    70 years

    Life & Extra Health Option

    10 - 30 years

    18 - 55 years

    65 years

    Extra Life & Health Option

    10 - 30 years

    18 - 55 years

    65 years

    Life & Disability Option

    10 - 25 years

    18 - 55 years

    65 years

    Extra Life & Disability Option

    10 - 25 years

    18 - 55 years

    65 years

    Life & Health & Disability Option

    10 - 25 years

    18 - 55 years

    65 years

    The Key Features of the HDFC SL ProGrowth Super II are Listed Below:

    1. You have the choice to choose the term of this plan from anywhere between 10 years or from 15 to 30 years.
    2. You can also choose to have a multiple sum assured amounts the value of the sum assured will be:

    Particulars

    Minimum

    Maximum

    Less than 45 years of age

    The higher of:

    10 * the annual premiums OR

    0.5 * policy term * annual premium

    40 * annual premiums

    Equal to or above 45 years of age

    The higher of:

    7 * the annual premiums OR

    0.25 * policy term * annual premium

    40 * annual premiums

    1. Choose between 3 riders to add a higher protection for you and your family:
      1. Critical Illness Benefit rider
      2. Accidental Death Benefit rider
      3. Accidental Total and Permanent Disability Benefit rider
    2. Get hassle free options for your annual premiums
    3. You can choose to invest between 5 different fund options:
      1. Income Fund
      2. Balanced Fund
      3. Blue Chip Fund
      4. Opportunities Fund
    4. This plan can be availed for without medical tests, by just filling in a questionnaire
    5. You can make your premium payments via different modes of payment such as credit cards, internet banking, electronic transfer(ECS) and cheque
    6. You can also switch your investments between funds available, or you can also redirect your future premiums to different funds available.
    7. Partial withdrawals are allowed within this policy after completing 5 years of the policy, provided the life assured has crossed 18 years and the original premium amount is not less than 150%
    8. The withdrawal amount can be a minimum of Rs. 10, 000
    9. The policy can be revived with a 2 year period after the date of the first non payment of premium
    10. A free-look period of 30 days is provided in case of online purchase, and 15 days if purchased through other means
    11. In this plan the Life Option is equal to a Death Benefit
    12. The Extra Life Option is equal to a Death Benefit + Accidental Death Benefit
    13. The Life and Health Option is equal to a Death Benefit + Critical Illness Benefit
    14. The Extra Life and Health Option is equal to a Death Benefit + Critical Illness Benefit + Accidental Death Benefit
    15. A Life and Disability Option is equal to a Death Benefit + Accidental Total and Permanent Disability Benefit
    16. An Extra Life and Disability Option is equal to a Death Benefit + Accidental Death Benefit + Accidental Total and Permanent Disability Benefit
    17. The Life and Health and Disability Option is equal to a Death Benefit + Critical Illness + Accidental Total and Permanent Disability Benefit
    18. An Extra Life and Health and Disability Option is equal to a Death Benefit + Accidental Death Benefit + Critical Illness + Accidental Total and Permanent Disability Benefit
    19. The policy term will be:

    Minimum premium term

    Policy term

    5 years

    10 years

    10 years

    15+ years

    22. Premium table:

    Premium frequency

    Minimum

    Maximum

    Premium

    Rs. 15, 000

    No Limit

    The Key Benefits Under This Policy can be Explained as Below -

    1. Maturity Benefit - Once this plan reaches it’s maturity age, after the completion of the policy term, the amount can be paid to the life insurance policyholder or nominee. This amount will includes the full fund value of all the balance units in the account
    2. Death Benefit - In the unfortunate event of the demise of the insured life, the Death Benefit will be payable to the nominee. This will be minus any amount of partial withdrawals made by the policyholder, 2 years prior to the date of death or post 58 years of age.
    3. Accidental Death Benefit - If the death of the insured is via an accident, then the nominee would receive a sum assured in addition to the death benefit that is applicable
    4. Surrender Benefit - This policy has a 5 years lock-in period. If the policy is surrendered within this lock-in period, the funds move to Discontinuance Policy Fund, and will get paid to the insured after the completion of 5 years. If the policy is surrendered after 5 years, then the fund value is paid out immediately
    5. Critical Illness Benefit - If the policyholder is diagnosed with any critical illness before the end of the policy the sum assured as well as the unit fund value will be paid
    6. Tax Benefit - The payments made towards the premiums of this policy are applicable for tax rebates as per Section 80C, and the received benefits can fall under Section 10(10D). These benefits are depending on the laws prevailing and are subject to changes.

    The fund can be invested in the below mentioned funds:

    Fund composition:

    Fund Name

    Liquid Mutual funds, Cash instruments and

    Deposits, Money markets

    Fixed Income securities and Government Securities

    Equity

    Income Fund

    0% - 20%

    80% - 100%

    -

    Balanced Fund

    0% - 20%

    0% - 60%

    40% - 80%

    Bluechip Fund

    0% - 20%

    -

    80% - 100%

    Opportunities Fund

    0% - 20%

    -

    80% - 100%

     

    Fund Name

    Details

    Risk Factor

    Income Fund

    Potential returns are higher with higher credit exposure and duration

    Moderate risk

    Balanced Fund

    Enhanced returns with dynamic equity with debt allocation reducing volatility

    Moderate to high risk

    Bluechip Fund

    Large cap equity and equity related security exposure

    Very high

    Opportunities Fund

    Mid cap equity and equity related security exposure

    Very high

    Premium allocation charges:

    Premium Paid

    1 and 2 years

    3 - 5 years

    6+ years

    Allocation rate

    92.5%

    95%

    100%

    Allocation charges

    7.5%

    5%

    0%

    Other charges that are levied by the HDFC SL ProGrowth Super II

    • Fund management charges of 1.35% per annum will be charged daily of the fund value to the policyholder
    • Miscellaneous charges - Any policy alteration will be charged Rs. 250 for any changes made
    • Partial withdrawal charges - Partial withdrawals will be charged Rs. 250 per request, if the request is through the company’s portal then a charge of Rs. 25 per request will be charged
    • Switching charges - Rs. 250 per request will be charged, if the request is through the company’s portal then a charge of Rs. 25 per request will be charged for any switching of fund from one fund to another
    • Premium redirection - For any redirection of premium a charge of Rs. 250 will be charged per request, if the request is through the company’s portal then a charge of Rs. 25 per request will be charged
    • Surcharges and service charges - These charges and service taxes and education cess will be payable by the policyholder
    • Mortality charges - These charges will be based on the age of the policyholder and the level of cover
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