ULIPs or, unit-linked insurance plans are served under the savings and investment plans of life insurance. ULIPs provides policyholders with the double benefit of life cover and investment option. HDFC Life provides a variety of ULIP Plans and all of them have been listed below.
The table represents all the updated data as per 2019-2020.
|Plan Name||Age Eligibility (Min/Max)||Premium Payment (Annual)||Policy Term||Maturity Age (Maximum)|
|HDFC Life Click 2 Invest||0 Years/ 65 Years||Rs.12,000||5 Years-20 Years||75 Years|
|HDFC SL Crest||14 Years/ 55 Years||Rs.50,000 onwards||10 Years||65 Years|
|HDFC Life Pension Super Plus||35 Years /65 Years||Rs.24,000||10 Years/ 15 Years/ 20 Years||75 Years|
|HDFC SL YoungStar Super Premium||Life option - 18 Years/ 65 Years |
Life and Health Option - 18 Years/55 Years
|Rs.15,000||10 Years to 20 Years||75 Years|
|HDFC Life ProGrowth Plus||14 Years/ 65 Years||Rs.24,000||10 Years to 30 Years||70 Years|
|HDFC Life ProGrowth Flexi||18 Years/ 65 Years||Rs.24,000||10 Years to 30 Years||75 Years|
|HDFC SL ProGrowth Super II||14 Years/ 65 Years||Rs.15,000||10 years to 30 years||75 Years|
|HDFC SL ProGrowth Maximiser||14 Years/ 65 Years||Rs.50,000 onwards||5 years to 10 years||75 Years|
|HDFC Life Single Premium Pension Super||40 Years/ 75 Years||Rs.25,000 onwards||10 Years||85 Years|
After the tabular comparison, let us go through a brief description of the different unit-linked plans mentioned below:
This unit-linked plan does not offer any type of liquidity of the amount during the lock-in period. The period is 5 years. The insured is not supposed to withdraw/ surrender the amount invested in the plan partially or completely till the completion of 5 years.
The plan has several premium payment options like single pay, 5 pay, 7 pay, 10 pay or regular pay. The policy buyer is free to choose from the range of 8 fund options. The plan also provides tax benefits under section 80C of the income tax act, 1961. There is no loan facility available under the policy.
HDFC SL Crest offers the benefit of premium payment for a limited term. There is a short medical questionnaire-based underwriting to be fulfilled at the time of buying the policy. The insured is free to choose the premium and the level of cover. The premiums paid under the policy are tax exempted. There are no loans available on the policy.
This plan is very helpful to those who are going to serve their retirement period. The plan provides flexibility to plan the retirement date. The insured also gets the benefit of assured maturity/vesting value.
Under the plan, the additional allocation of the premium is from the 11th year onwards. On completion of the tenure, the insured get higher of:
This unit-linked plan with life insurance cover had been structured keeping in mind the future of kids. It gives valuable financial protection to policyholder's children. In case of the demise of the policyholder, the plan provides yearly payments to the family, to fight with the financial obligations of daily life. The policy buyer is free to invest in his/her choice of fund.
A lump-sum partial withdrawal can be made from the fund after the completion of 5 years. The minimum amount that can be withdrawn is Rs.10,000.
Under this ULIP, the policyholder has two plan options:
The plan provides flexibility in cases like changing of fund choices, transfer of accumulated funds from one to another at any time, and payment of the future premiums in different sections as per the need.
There is an initial lock-in period of 5 years. After serving the lock-in period, partial or complete withdrawals can be done. The minimum amount to be withdrawn can be Rs. 10,000. The maximum amount that can be withdrawn throughout the policy tenure can be 300% of the original regular annualized premium.
HDFC 5 Year Investment Plans, Know More.
This unit-linked plan provides death coverage along with investment benefits. The plan acts as a shield to the family left behind in case of the demise of the policyholder. The policy pays highest of the:
The plan also has an accidental death cover option.
The specialty of the plan is that over the term of the policy, the available funds give the potential for higher but more variable returns and lower but more stable returns. The premiums paid under the plan are tax exempted under section 80C of the income tax act.
The plan provides its policyholders comprehensive benefits. The plan offers:
On-time payment of annualized premium keeps the plan functioning. The liquidation of the fund is not allowed before completion of 5 years from the date of issue of the policy. Riders like critical illness riders, accidental death riders, and riders for total/ partial disability due to an accident are available under the plan.
It is a unit-linked non-participating life insurance plan. It provides protection along with investment benefits to the policyholder and his/her family. The plan permits partial liquidation of funds from the 6th year of the policy. The maximum amount that can be withdrawn during the policy term is 50% of the total premium paid.
It is a unit-linked single premium pension plan. The plan provides an assured benefit of 101% of the total premium paid. The policyholders under the plan get an opportunity to build a corpus for post-requirement income. In case of death of the insured the nominee receives higher of:
The plan also brings tax benefits to the policyholder. The premiums paid under the plan are exempted from tax under section 80C of the Income Tax Act, 1961.
There are several investment plans in the market like fixed deposits, mutual funds, etc. but HDFC Life ULIP Plans are better among them. Here are a few reasons in support of the statement:
NRIs can invest by filling a mandatory questionnaire organized for them.
The policyholder can surrender the policy subjected to a lock-in period of 5 years. No discontinuance charge is payable under this. For more details please refer to the product brochure.
No, the sum assured finalized at the time of buying the policy can not be changed.
In case of the death of the policyholder, the beneficiary of the policy should intimate the insurance company as early as possible. Thereafter, the customer service representative of the insurance company assists the beneficiary with all the procedures to be followed with respect to the policy.
There are 11 fund options to choose from in this plan. They are:
Last updated on 19-08-2020