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Overview
'A plan that helps you save for your future goals.'
The insurance market is filled with several insurance products, each with its unique benefits. If you are looking for a plan that offers financial protection to your family in your absence and guaranteed income benefits on survival, then consider 'HDFC Life Guaranteed Wealth Plus'.
HDFC Life Guaranteed Wealth Plus is a non-participating, non-linked savings life insurance plan. This plan offers a range of benefits, including return of premiums, survival benefits, guaranteed income benefits, guaranteed surrender value, policy loans, and policy revival. It helps you save a lump sum amount to fulfill your future goals and provides a grace period to avoid penalties for missed premium payments. The plan comes in two variants: the Lump Sum variant and the Income variant.
Benefits of HDFC Life Guaranteed Wealth Plus
- Guaranteed Income Benefits
- Tax Benefits
- Surrender Value
- Policy Loans
- Policy Revivals
- Return of Premiums
How to Buy HDFC Life Guaranteed Wealth Plus on PolicyX.com
- Visit the official website of PolicyX.com.
- Click on the 'Investment' tab.
- A new page will appear.
- Fill out the form at the top of the page with the necessary details.
- Select your income and city. Click on 'Proceed'.
- Update your education and occupation details.
- Choose your preferred plan and click on 'Buy this plan'.
- Select the policy term, premium period, investment amount, and riders (if required), then proceed to pay.
Benefits of HDFC Life Guaranteed Wealth Plus
There are various benefits to buying the HDFC Life Guaranteed Wealth Plus Plan. Let's understand each of them in detail:
Death Benefit
In case of a policyholder's unfortunate demise, death benefits are paid to their nominee to protect their financial future. Death benefits are offered in both the Lump Sum and Income variants.
Survival Benefits
Survival benefits are offered with the Income variant of the HDFC Guaranteed Wealth Plus plan. These benefits are paid as income, payable at the frequency chosen at the time of policy purchase. No survival benefits are paid with the Lump Sum variant.
Return of Premium Benefits
This benefit applies to Income variant plans, where all base premiums paid are returned to the policyholder at the end of the tenure.
Maturity Benefits
If the policyholder survives the policy tenure, they will be paid maturity benefits depending on the variant chosen.
Key Policy Features
Free Look Period
You get a free look period of 30 days under this plan to review the terms and conditions of the policy. If you are dissatisfied, you can return the policy to HDFC Life and get your money back after certain deductions.
Grace Period
The grace period helps you avoid penalties and late fees on premium payments. If there is a delay in premium payment, you get a grace period of 15 days for monthly premiums and 30 days for annual premiums.
Policy Revival
If your policy is canceled, lapsed, or expired, it can be revived within five years from the date of the unpaid premium. Revival is subject to approval by HDFC Life.
Surrender Value
If you have paid premiums for two years, your policy can attain a guaranteed surrender value. This surrender value depends on the guaranteed surrender value factor.
How to Buy HDFC Life Guaranteed Wealth Plus on HDFC Life Website
- Visit the official website of HDFC Life Insurance.
- Hover over 'Investment Plans' from the top menu.
- Click on 'HDFC Life Guaranteed Wealth Plus'.
- Click on 'Buy Now' to be redirected to a new page.
- Enter your name and contact information. An HDFC Life representative will contact you to discuss quotes.
- After discussion, you can make the premium payment and receive your policy documents.
Exclusions
- If the policyholder commits suicide within 12 months of policy purchase, no death benefits are offered to their family members. In such a case, either 80% of the premiums paid to date or the surrender value acquired to date, whichever is higher, will be paid.
Documents Required to Buy HDFC Life Guaranteed Wealth Plus
Here is the list of documents required to buy the HDFC Life Guaranteed Wealth Plus:
Photo ID Proof
Photo ID Proof (any one): Passport, Aadhaar card, PAN card, Driving license.
Age Proof
Age Proof (any one): Passport, Aadhaar card, PAN card, Driving license.
Address Proof
Address Proof (any one): Utility bill, passport, voter ID, ration card.
Medical Records
Medical Records of the policyholder if requested.
Income Proof
Income Proof (any one): Bank statement, last three months' salary slips (if salaried).
Conclusion
HDFC Life Guaranteed Wealth Plus combines term and savings benefits, offering financial protection to your loved ones in case of your demise and maturity benefits if you survive the policy term. If you need assistance in choosing the right plan, contact PolicyX.com. As an IRDA-approved insurance comparison portal, we help you compare various plans and our representatives will reach out to you shortly.
For more information, call us at 1800-420-0269. Our insurance experts will understand your unique needs and suggest the best possible solution.
