About HDFC ULIP Plans - An Overview

Unit-Linked Insurance Plans (ULIP) offered by HDFC Life are a combination of investment and protection plans. These plans provide the benefits of an insurance life cover and market-linked investments which are subject to risk associated with capital markets. HDFC Life - ULIP offers the flexibility to invest in debt or equity funds depending on the life assured risk appetite and financial objectives. ULIP also offers tax benefits on premium payments, thus taking care of your future goals such as securing your child's future, creating wealth, and planning your retirement goals.

Key Features of HDFC Life ULIP Plans

• Offers the benefits of life insurance and market-linked returns
• Option to invest as per your appetite
• Partial withdrawal charge option
• Surrender value is also available

Benefits of HDFC Life ULIP Plans

Claim Settlement Ratio of HDFC Life Insurance

Claim Settlement Ratio is the percentage of life insurance claims paid out of the total claims filed in a financial year. The higher the ratio, the easier it is for your dependents to claim the insurance when you are not with them. The Claim Settlement Ratio of HDFC Life Insurance is 99.07% for the financial year of 2019-20.

Take a look at the below graph that will give you an insight into the CSR of different Life Insurance companies:

Claim Settlement Ratio of Life Insurance Companies (2019-20)

Types of HDFC Life ULIP Plans

HDFC Life Insurance Company offers 8 effective ULIP plans that offer you multiple benefits to save and grow your money.

Let's understand each plan in detail for better understanding.

1. HDFC Life Click 2 Wealth Plan

   HDFC Life Click 2 Wealth is a unit-linked non-participating life insurance plan that provides market-linked returns to the insured, along with helpful financial protection to the entire family. The plan effectively safeguards your wealth so that you can fulfill all your desired goals.

   Key Features:

   • Special addition: Plan offers 1% of annualized premiums in the form of special additions to your fund value for the first 5 years of the policy tenure.
   • Flexibility: Choose from 10 fund options with unlimited free switching
   • Premium Payment Options: Single pay, Limited, and Regular pay options are available under this plan.
   • Premium waiver benefit: The plan provides a premium waiver benefit that waives off the premium (in case of your unfortunate demise) so that your family can live without the financial burden.
   • Return of Mortality charges: The plan offers a return of mortality charges at the time of maturity. In the case of the premium waiver option, mortality charges related to the insured would be refunded.
   • Partial withdrawal: Under this plan, the insured has the option to make partial withdrawals after 5 policy years. For the same, the insured should be at least 18 years of age.
   • Plan options: It comes out with three plan options. Policyholders can choose the desired one at their convenience.
   • Invest Plus Option that gives accumulated Fund Value upon maturity of the policy and returns the mortality charges.
   • Premium Waiver Option, in addition to Invest Plus option's benefits, waives off all the future payments in case of death of the policyholder. The policy will continue under the risk cover for the policyholder and the Fund Value that has been accumulated will be paid upon maturity.
   • Golden Years Benefit Option helps you stay covered for your whole life. The accumulated Fund Value and mortality charges that you receive upon maturity (at the end of the policy) will instead be added to the Fund Value when the policyholder turns 70.

   Eligibility

   Eligibility Criteria	Invest Plus	Premium Waiver Option	Golden Years Benefit Option
   Entry Age	Life Assured - 30 days to 60 years	Life Assured - 30 days to 60 years Proposer - 18 years to 65 years	Life Assured - 30 days to 60 years
   Maturity Age	18 years to 75 years	18 years to 75 years	99 years
   Minimum Premium	Single payout - Rs. 24,000, Annual Payout - Rs.12,000, Half-yearly - Rs.6,000, Quarterly - Rs.3,000, Monthly - Rs.1,000
   Maximum Premium	No Limit
   Policy Term	10 to 40 years	10 to 40 years	99 minus age of entry
   Premium Paying Term	Singler Pay, Limited: 5, 7, and 10 years, Regular: 10 to 40 years	Limited: 5, 7, and 10 years, Regular: 10 to 40 years	Limited Pay: 10 to 70 years minus entry age

2. HDFC Life Click 2 Invest

   HDFC Life Click2Invest is an online ULIP plan that provides market-linked returns and valuable financial protection to meet your investment requirements.

   Key Features:

   • Fund options: The plan offers 11 fund options to choose from at your convenience and investment style.
   • Death benefits: In the case of the life assured's unfortunate demise, the plan pays the highest sum assured, fund value, or 105% of the premium(s) paid.
   • Maturity benefits: On survival till the end of the policy tenure, the insured gets fund value as maturity benefit.
   • Tax benefits: The plan offers tax benefits under Section 80C and Sec 10(10D) of the Income Tax Act, 1961.

   Eligibility

   Entry Age	30 days to 65 years
   Maturity Age	18 years to 75 years
   Sum Assured	125% of single premium
   Premium Paying Term	Single Pay , Limited: 5,7, and 10 years , Regular: 5 to 20 years

   Sample Illustration

   This table illustrates the premium payable by a Healthy individual (male) at different ages for a policy term of 20 years.

   Entry Age (in years)	7	30	45
   Policy Term (in years)	20
   Assured Rate of Return at 8% pa	20,14,078	20,10,432	19,94,140
   Assured Rate of Return at 4% pa	12,86,539	12,84,326	12,74,299

   Assured Rate of Return Prices for HDFC ULIP - Click 2 Invest

   

3. HDFC SL ProGrowth Flexi

   HDFC SL ProGrowth Flexi is a savings-cum-insurance unit-linked plan (ULIP) that enables you to provide financial security to your loved ones.

   Key Features:

   • Offers flexible additional benefit options
   • The investment plan provides valuable protection to your family in case of your unfortunate demise during the policy term.
   • Upon maturity, assured can take the Fund Value at the prevailing unit prices as a lump sum or can opt for a settlement option, which may extend to a maximum period of 5 years.
   • Flexibility to invest in a choice of funds

   Eligibility

   		Life Options	Extra Life Options
   Entry Age (in years)	Minimum	14	18
   	Maximum	65	55
   Maximum Maturity Age (in years)		75	70
   Policy Term (in years)	Minimum	10
   	Maximum	30

   Sample Premium Illustration

   This table illustrates the premium payable by a Healthy individual (male) at different ages for an annual premium of Rs. 25,000 and a sum assured of Rs. 2,50,000.

   Age (in years)	30	40
   Term (in years)	20	15
   Assured rate of return @4% pa	5,98,193	4,19,181
   Assured rate of return @8% pa	9,35,821	5,83,699

   Assured Rate of Return Prices for HDFC Life SL ProGrowth Flexi

   

4. HDFC Life Sampoorn Nivesh

   HDFC Life Sampoorn Nivesh is an insurance cum investment plan designed specifically with multiple fund options to help you optimize your investment to meet your protection needs.

   Key Features:

   • The plan offers loyalty additions to enhance your Fund Value after 10 years.
   • Offers the flexibility to choose investment term from 10 to 25 years
   • Assured can customize the options for premium payment: Single, limited, or regular pay
   • Offers the option of Accidental Death Benefit
   • On survival till the end of the policy term, you will receive your Fund Value as Maturity Benefit.

   Eligibility

   Parameters		Classic Life Option	Classic Extra Life Option	Classic Plus Option	Classic Waiver Option
   Entry Age (in years)	Minimum	0 (30 days)	18	0 (30 days)	18
   	Maximum	54	53	48	47
   Maturity Age	Minimum	18	28	18	28
   	Maximum	64	63	58	57

5. HDFC Life ProGrowth Plus

   HDFC Life ProGrowth Plus is a simple savings-cum-insurance plan that will enable you to enjoy life cover and benefits from the comfort of creating your own investment strategies.

   Key Features:

   Flexibility to invest in a choice of funds. The list is mentioned below:

   • Income Fund
   • Balanced Fund
   • Blue Chip Fund
   • Opportunities Fund
   • Equity Plus Fund
   • Bond Fund
   • Diversified Equity Fund
   • Conservative Fund
   • Discovery Fund
   • Equity Advantage Fund

   HDFC bank credit cardholders have the option to choose EMI options.

   Policyholders can make partial withdrawals to meet unplanned expenses.

   Eligibility

   Parameters		Life Option	Extra Life Option
   Entry Age (in years)	Minimum	14	18
   	Maximum	65	55
   Maturity Age (in years)	Minimum	NA	NA
   	Maximum	75	70

6. HDFC SL ProGrowth Super II

   HDFC SL ProGrowth Super II is a smart savings-cum-insurance unit-linked plan that will help you to provide the finest for your family and help you achieve long-term savings.

   Key Features:

   • In case of an unfortunate demise of the life assured during the policy term, the plan provides valuable protection to your family and will pay the Sum Assured and your total fund value to your family.
   • The plan can be availed by filling the short medical questionnaire, which may not require you to go for medicals.
   • The plan helps manage your investment funds either by switching from one fund to another or by redirecting future premiums into other funds.

   Eligibility

   Parameters		Life Options	Extra Life Option	Life & Extra Health Option	Extra Life & Health Option	Life & Disability Option	Extra Life & Disability Option
   Entry Age (in years)	Minimum	14	18
   	Maximum	65	55
   Maturity Age (in years)	Maximum	75	70	65
   Term Age (in years)	Minimum	10
   	Maximum	30				25

7. HDFC SL Crest

   HDFC SL Crest is a unit-linked insurance (ULIP) investment plan, which helps you to achieve your investment goals in a brief period of 10 years along with financial protection for your family.

   Key Features:

   • Pay premiums for just 5 years and enjoy a policy term of 10 years.
   • Paying premiums is convenient with access to multiple modes – credit card, internet banking, cheque, and auto-debit facility.
   • Choose from any of the 10 available fund option.

   Eligibility

   Minimum Entry Age	14 years
   Maximum Entry Age	55 years
   Maturity Age	65 years
   Policy Term	10 years

   Sample Premium Illustration

   This table illustrates the premium payable by a Healthy individual (male) at different ages for an annual premium of Rs 50,000 and a sum assured of Rs 5,00,000.

   Age (in years)	35	40
   Term (in years)	10	10
   Assumed Rate of Return @4% pa	2,46,919	2,43,482
   Assumed Rate of Return @8% pa	3,38,423	3,34,828

   Assured Rate of Return Prices for HDFC Life SL Crest

   

8. HDFC Life Capital Shield

   This plan is an investment-cum-insurance plan that offers the potential for higher returns. By investing a part of your money in equity and the balance in debt, an insured person can also avail of life insurance cover.

   Key Features:

   • The plan helps you to protect your investment from market risks with an Assured Maturity Benefit of 101% of Total Premiums paid.
   • Single pay Premium or for a limited period of 5 years
   • Get increasing Loyalty Additions from the end of the 6th policy year onwards to boost the Fund Value.
   • The policy offers life insurance cover

   Eligibility

   Parameters	Minimum	Maximum
   Entry Age	8 years	60 years
   Maturity Age	18 years	70 years

Buying Process Of HDFC ULIP Plans

There are two ways through which you can invest in HDFC ULIP Plans- via PolicyX.com and the official website of the company. Let's discuss the steps further.