HDFC Life ProGrowth Plus
  • Flexibility to Invest in Funds
  • Regular Premiums
  • Sample Premium Rates

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HDFC Life ProGrowth Plus Plan

HDFC Life ProGrowth Plus is a unit-linked insurance and regular premium plan where the premium is invested in the market, thus providing good returns along with various benefits. This plan offers the flexibility to choose investment funds and regular premiums. The company invests your regular premium and tidal amount of premium allocation charges in the selected fund in the proper proportion as per the policyholder’s specifications. At the end of the policy term, an accumulated amount of funds will be received. In case of an unfortunate death event of the life assured during the policy period, the nominee will be eligible to receive the fund amount or greater sum assured.

Key Features of HDFC Life ProGrowth Plus

HDFC Life ProGrowth Plus is comes with a variety of features and benefits, which are designed to provide the financial protection to the assured family members when he/she is no longer around.

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

Income FundBalanced FundBlue Chip FundOpportunities FundEquity Plus FundBond FundDiversified Equity FundConservative FundDiscovery FundEquity Advantage Fund

HDFC Life ProGrowth Plus Opportunities fund’s composition is majorly in favor of mid-cap equities and equities-related instruments. In the HDFC Life ProGrowth Plus Opportunities fund, only 0% to 20% of the amount is allocated in money market instruments, deposits, cash, and liquid mutual funds. The changes of risk and returns are very much high in this case.

Benefits of HDFC Life ProGrowth Plus

  • Flexibility to choose from Life and extra life options.
  • Get the tax benefits under section 80C and 10D of the Income Tax Act, 1961.
  • Smooth and convenient premium paying process with access to multiple payment modes such as cheque, credit card, auto-debit, and net banking.
  • The plan allows making partial withdrawals to meet unplanned expenses
  • Based on your risk and return needs, a plan offers the flexibility to plan your investment strategy
  • In case of any unfortunate event like the death of a life assured within the policy term, the nominee is provided with a higher sum assured or fund value in the form of the death benefit.
  • Maturity Benefit - At the time of policy maturity, the fund value is paid as maturity benefit.
  • Under this plan, the assured can change the premium paying frequency anytime.
  • The plan offers the flexibility to choose the required instrument funds in two ways:
  • Switching: The assured can move his/her accumulated funds from one fund to another anytime
  • Redirection of Premium: The assured can pay his/her future premiums into a different choice of funds, as per his/her choice.
  • In this plan, assured persons are allowed to make partial withdrawals after 5 complete policy years or if the life assured is 18 years old (whichever is later).
  • If you are not satisfied with the coverage and terms and conditions of the policy, then the insurer offers an option of cancelling the HDFC Life ProGrowth Plus plan within 15 days (free look period) from the receipt of the policy documents.
  • The plan offers a grace period of 15 days for monthly mode and 30 days for other types of modes.
  • Charges of the plan:
  • Premium allocation charges: A premium-based charge that depends on the allocation year. After deducting this charge from the assured person’s annualized premiums, the remaining is invested to buy other units. The remaining percentage of the annualized premium is called premium allocation rate.
    Note - The premium allocation rate and charge are guaranteed for the full policy period.
  • Fund Management Charge (FMC): This is the daily unit charge that allows the deductions for the fund management charge.
  • Policy Administration Charge: This charge is the annual premium percentage that will be deducted on a monthly basis to provide administration to the plan. This charge is acquired by cancelling units in a proportionate manner from each fund as per your choice.
    Note - This charge is guaranteed for the complete period of the policy.
  • Mortality Charge: Every month, an insurer levy a charge and provides you with the death benefits under this policy. This charge is acquired by cancelling units in a proportionate manner from each fund as per your choice.
    Note - This charge is guaranteed for the complete period of the policy.

Plan Options of HDFC Life ProGrowth Plus

There are two coverage options available within this plan. Let’s learn about them in detail.

Life Option - Death Benefit

By choosing this option the beneficiaries or the nominees of the assured will get a complete payout of the sum insured, unit fund value, and minimum death benefit (whichever is greater) in the event of the death or incurable illness.

The policy will terminate and no more benefits will be payable.

Extra Life Option - Death Benefit + Accidental Death Benefit

In this plan, an additional sum assured is paid to the nominee. The policy will terminate and no more benefits will be payable.


HDFC Life Progrowth Plus offers the following Rider options for enhanced financial protection.

HDFC Life Income Benefit on Accidental Disability RiderIn the case of an Accidental Total Permanent Disability, this benefit is equal to 1% of the Rider sum assured per month for about the next 10 years.
This rider does not offer any maturity benefit.
HDFC Life Critical Illness RiderIn case, you are diagnosed with any of the 19 critical illnesses, a lump sum benefit equal to the sum assured shall be payable.
The rider does not offer any maturity benefit.

Eligibility Criteria

Entry Age (Life Option)14 years*65 years
Entry Age (Extra Life Option)18 years55 years
Maturity Age (Life Option)-75 years
Maturity Age (Extra Life Option)-70 years
PremiumsAnnualRs. 24,000Rs. 1,00,000
Half-yearlyRs. 10,000Rs. 50,000
MonthlyRs. 2,500Rs. 8,333
Policy Term10 years30 years
Premium Payment Term10 years30 years

Sample Premium Rate

It is important to be aware of the premium rates before buying any insurance plan for your financial protection. We have provided a sample table to illustrate the premium rates of the ProGrowth Plus plan.

Age (in years)253035
Policy Term (in years )201510
Maturity Value at an assumed rate of return
At 4%At 4%At 4%
Annual Premium of Rs. 25,0005,90,5394,19,8962,53,928
Annual Premium of Rs. 50,0001,181,0798,39,7925.07,856
Annual Premium of Rs. 1,00,0002,418,5191,707,7161,040,718

Graphical Representation of Premium Rates of HDFC Life ProGrowth Plus

This graph illustrates the annual premium of Rs. 25,000 at maturity value at an assumed rate of return (4%) and different ages.

Premium Rates Illustration of HDFC Life - ProGrowth Plus


Mentioned below are a few conditions or situations for which the coverage is excluded in this plan:

  • Intentionally self-inflicted injury
  • Alcohol or substance abuse
  • war, invasion, civil war, or taking part in a riot or civil commotion
  • The company will pay for the accidental death benefit if the death occurs after 90 days from the accident date.
  • Taking part in any criminal activity
  • Flying activity, other than as a passenger in a commercially licensed aircraft.

**For more detailed information, refer to HDFC Life ProGrowth Plus Brochure.

Buying Process Of HDFC Life ProGrowth Plus

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

Buying Process Of PolicyX website
Buying Process Of HDFC Life ProGrowth Plus

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Find Out What Customers Are Saying

(Showing latest 5 reviews only)

- 4.5/5 (29 Total Rating)

September 21, 2021

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September 20, 2021

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September 20, 2021

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September 17, 2021

Kanak Goel


This is the second term plan that I m buying from I want to make sure my family has enough after my death so I figured HDFC was a safe bet

September 16, 2021

Kinshuk Chabra


with corona and my brother s death due to it, our entire family was in shock. but I went to personally claim the policy after hs death was policyx which guided me and made sure that process was smooth

Last updated on August, 2021

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